Eastern Platinum Limited: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 10, 2015) - Further to its news release of June 8, 2015, Eastern Platinum Limited (TSX:ELR)(JSE:EPS) (the "Company") announces that the proposed restructuring of the transaction with Hebei Zhongbo Platinum Co. Limited ("HZP"), as more particularly detailed in the June 8, 2015 release, continues to remain subject to the execution of definitive agreements and the receipt of all necessary South African regulatory approvals. As the restructuring remains outstanding, the Company has determined it to be prudent to seek to extend the "Final Date" under the original agreements with HZP (as detailed in the Company's news release of November 7, 2014) (the "Original Agreements") from August 7, 2015 to December 31, 2015 (the "Final Date" being the date under the Original Agreements following which either party may elect to terminate the Original Agreements without recourse). As at the date hereof, letter agreements giving effect to such extension remain outstanding.

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

Cautionary Statement Regarding Forward-Looking Information

This press release contains 'forward-looking information' within the meaning of Canadian securities legislation. Forward-looking information in this press release includes information about the completion, timing and potential benefits of the proposed transaction between Eastplats and Hebei Zhongbo. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those anticipated, including, the contemplated transaction not being completed as a result of a number of factors including, without limitation, required regulatory approvals not being obtained; and other risks and uncertainties. Readers should not place undue reliance on the forward-looking information contained in this news release. Eastplats does not undertake to update any forward-looking information, except as required by applicable securities laws.