Eastern Platinum Limited

Eastern Platinum Limited

September 13, 2007 05:00 ET

Eastern Platinum Limited: Construction of Chrome Recovery Plant at Crocodile River Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2007) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:EKR)(AIM:ELR)(JSE:EPS) reports that the construction of the chrome recovery plant at its Crocodile River Mine is underway. The R24 million plant (Cdn$4 million), designed and being constructed by Chrome Tech (Pty) Ltd will treat Crocodile River's platinum group metals ("PGM") UG2 ore to reduce chromite levels in the concentrate which is then sent to a third party for smelting and refining. PGM refineries typically charge penalties for concentrate received which has in excess of a 1.5% chromite content.

TWP Consulting ("TWP") has been sub-contracted to complete the detailed process design and engineering, and will provide technical support during the commissioning phases. The design for the extraction of chromite from the UG2 ore makes use of gravity separation via spirals and is based on existing technology deployed in the mining and metallurgical industry. The plant is being constructed using primarily local content which has resulted in an economical design and rapid construction. The plant will be completed in two phases, with commissioning of the first phase scheduled for November 2007 and the second phase due for completion in December 2007. Modern control technology combined with a sample preparation facility will also be constructed to optimise output.

Ian Rozier, CEO of Eastplats, stated that, "The chrome recovery plant makes good business sense. We currently pay approximately R5 million per month in chrome penalties on our concentrate and by bringing chromite levels to within the range acceptable to the smelters we will add this sum directly to our bottom line."

Total shares issued and outstanding: 667,878,194

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Certain statements included herein constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. These forward-looking statements are based on certain assumptions by Eastplats and Barplats and as such are not a guarantee of future performance. Actual results could differ materially from those expressed or implied in such forward-looking statements due to factors such as general economic and market conditions, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.

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