Eastern Platinum Limited
LSE : ELR

Eastern Platinum Limited

December 17, 2010 02:00 ET

Eastern Platinum Limited: Update on Status of Prospectus Qualification for Equity Financing

NEWS RELEASE TRANSMITTED BY MARKETWIRE

FOR:  EASTERN PLATINUM LIMITED

TSX, AIM SYMBOL:  ELR
JSE SYMBOL:  EPS

December 16, 2010

Eastern Platinum Limited: Update on Status of Prospectus Qualification for Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Eastern Platinum Limited (TSX:ELR)(AIM:ELR)(JSE:EPS) (the "Company") is issuing this press release to update the status
of its $302,500,000 short form prospectus offering (the "Offering") announced on November 22, 2010.

In order to address securities regulatory authority comments in respect of the customary review of the preliminary short
form prospectus filed for the Offering, the Company filed drafts of updated versions of technical reports on December
7th and 9th for certain of its properties corroborating the Company's prior disclosure. The Company is currently
awaiting review by and advice from the British Columbia Securities Commission (the "BCSC") as to the acceptability of
the updated reports.

Following the BCSC's review of such drafts and finalization of the reports, the Company expects to proceed to file its
final short form prospectus for the Offering.

Total shares issued and outstanding - 683,223,948

S&P TSX Composite Index



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FOR FURTHER INFORMATION PLEASE CONTACT:

Eastern Platinum Limited
Ian Rozier
President & C.E.O.
+1-604-685-6851
+1-604-685-6493 (FAX)
info@eastplats.com
www.eastplats.com

OR

NOMAD: Canaccord Genuity Limited, London
Ryan Gaffney
+44 20 7050 6500
rgaffney@canaccordgenuity.com

OR

NOMAD: Canaccord Genuity Limited, London
Ryan Cohen
+44 20 7050 6500
rcohen@canaccordgenuity.com

OR

JSE SPONSOR: PSG Capital (Pty) Limited
Johan Fourie
+27 21 887 9602
johanf@psgcapital.com

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Contact Information

  • Eastern Platinum Limited