Eastern Platinum Limited

Eastern Platinum Limited

October 26, 2011 14:02 ET

Eastern Platinum Limited: JIC and NUM Reach Settlement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2011) - Eastern Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR)(JSE:EPS) is pleased to report that the dispute between JIC Mining Services ("JIC") and the National Union of Mineworkers ("NUM") has been resolved and the NUM strike action as reported on October 20, 2011 has been terminated. The majority of the 756 JIC employees working at the Crocodile River Mine ("CRM") have returned to work as of today's shift and full attendance is expected on Thursday October 27, 2011. Eastplats expects full production at CRM to resume as from that date.

Following the resignation of Wayne Robinson, Managing Director of Barplats Mines, as announced on October 25, 2011, the Company has put in place a number of initiatives to provide appropriate ongoing executive and operational management in South Africa.

A transition and hand-over will occur prior to Mr. Robinson's departure in December 2011 and the Company does not expect this to affect operations and production. In addition to internal senior management, John Andrews (Director) and Ian Rozier (CEO) will be spending substantially more time at CRM and in Johannesburg respectively, until a replacement is selected. Both Mr. Rozier and Mr. Andrews are mining engineers with considerable South African underground mining experience.

Total shares issued and outstanding: 908,187,807

Cautionary Statement on Forward-Looking Information

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 therefore, readers are cautioned that forward-looking statements are not a guarantee of future performance. There can be no assurance that such statements will prove to be accurate and 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, changes in government legislation, controls, regulations and political developments.

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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