Eastern Platinum Limited

Eastern Platinum Limited

November 07, 2011 21:55 ET

Eastern Platinum Limited: Operations at Crocodile River Mine Suspended After Fatal Accident

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2011) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited (TSX:ELR)(AIM:ELR)(JSE:EPS) ("Eastplats" or the "Company") reports that mining operations at the Crocodile River Mine ("CRM") have been suspended following a fatal accident at the mine.

Mr. Afiach Ngobeni, an employee of High Point Trading (an engineering company doing development work at CRM), was fatally injured in a blasting accident at an ore pass development raise at the Zandfontein Section at CRM on Monday 7th November.

A Section 54 Stop Work Order has been issued by the Development of Mineral Resources ("DMR") and mining operations at CRM have been stopped pending a full investigation by the DMR Inspector of Mines on Tuesday November 8th.

"This is terrible news for the families affected and also for the Company. Management has made health and safety a key priority at CRM and we were making substantial progress in this regard, having recorded 3.8 million fatality free shifts at the mine until yesterday. This is a tragic accident and it will be investigated thoroughly," stated Ian Rozier.

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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