Eastern Platinum Limited

Eastern Platinum Limited

October 05, 2007 05:00 ET

Election of Directors of Eastplats

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2007) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats" or the "Company") (TSX:ELR)(AIM:ELR)(JSE:EPS) is pleased to announce that pursuant to the Company's Annual General Meeting ("AGM") held on October 4, 2007, the following Directors were re-elected to the Company's Board of Directors (the "Board").

Mr. David Cohen (Chairman), Mr. Ian Rozier (President & Chief Executive Officer), Mr. Gordon Keep, Mr. John Hawkrigg and Mr. Merfyn Roberts.

Mr. John Andrews was elected to the Board at the AGM.

Mr. Jeff Ahbe is retiring from the Board and did not stand for re-election for the coming year. Mr. Ahbe was appointed to the Board in March 2006 with the Company's acquisition of the 69% indirect interest in Barplats Investments Ltd. ("Barplats"). Mr. Ahbe was instrumental in the corporate restructuring of Barplats and has since assisted in the integration of Barplats and Eastplats.

"With the JSE listing and the Gubevu transaction having been successfully completed earlier this year, Jeff has decided to spend more time on other business ventures via his advisory business, Ahbe Capital Investments Group Inc., and the Company wishes to express its sincere appreciation to Jeff for all his efforts and wish him good fortune with his future endeavours," stated Ian Rozier.

"As Eastplats continues to increase its production profile, the Board recognises the requirement for more mine operating experience at Board Level, and the appointment of John Andrews as a director has the unanimous support of the current Board," he stated.

Mr. John Edward Andrews, 61, a former director of Barplats, has more than 38 years experience in managing mining operations in the precious metals industry in the United States, Canada, Mexico, Botswana and South Africa. John Andrews is a graduate of the Royal School Mines, London and a registered professional engineer in the Province of Ontario, Canada.

Mr. Andrews served as President and Chief Operating Officer of Stillwater Mining Company from 1994 to 1999. During his tenure Mr. Andrews successfully reengineered the management structure, doubled production of platinum and palladium to 444,000 ounces in 1998, increased productivity, and reduced cash operating costs to $151 per ounce. Mr. Andrews also played a major role in Stillwater's 1994 Initial Public Offering and the several subsequent financings and feasibility studies required to support the expansion of Stillwater's business.

Prior to joining Stillwater Mining, Mr. Andrews held the position of Director of International Mining Operations for Phelps Dodge Corporation, where he had responsibility for the Company's base and precious metals interests in Southern Africa, Chile, Mexico and Montana. Between 1979 and 1989, Mr. Andrews served as Manager of various headquarters and operations departments of Exxon Coal & Minerals Company. From 1969 to 1977, Mr. Andrews held a series of operating positions of increasing responsibility on gold mines of the Union Corporation Group in South Africa and is currently a director of Beartooth Platinum Corporation and Amerix Precious Metals Corporation. Pursuant to AIM rules Schedule 2(g) there is no further disclosure required.

"John has been working with us on a consulting basis and his expertise and knowledge of the Crocodile River Mine and of the PGM, has been invaluable; he brings a wealth of experience and we are extremely pleased that he has agreed to be a director of Eastplats and become directly involved in the decision making process," stated Ian Rozier.

Total shares issued and outstanding: 667,128,194

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