Eastern Platinum Limited

Eastern Platinum Limited

September 10, 2007 05:00 ET

Eastern Platinum Limited: Update on Vertical Shaft Commissioning at Crocodile River Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2007) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR)(JSE:EPS) reports that equipping of the 415m deep, 8.5m diameter vertical shaft, at a cost of R150million, is progressing well at the Zandfontein section of the Crocodile River Mine. The headgear, which previously stood over one of the two 1000m deep shafts at Kennedy's Vale, has successfully been repositioned over the Zandfontein Shaft. This work has been carried out without any serious incidents or delays.

On completion of the shaft equipping which is expected by May 2008, the shaft will initially be used for hoisting men and material. Shortly thereafter, commissioning for rock hoisting will take place giving an initial shaft hoisting capacity of 120,000 tonnes per month which may be increased once ore reserve development allows for further production increases.

Initial development of a sub-incline shaft system will take place concurrently through the existing decline system at Zandfontein. The combination of using the Kennedy's Vale headgear and concurrent incline development will allow access into the orebody below 4 level approximately 6 months earlier than would have otherwise been possible.

Murray and Roberts Cementation is the contracting company performing this work and to date have achieved all cost and progress milestones. RSV, a recognised Consulting Engineering Company in the platinum industry, have assisted with project management and application of engineering best practice.

Ian Rozier, CEO of Eastplats, stated that, "The effective equipping of the vertical shaft at Zandfontein and the concurrent incline development will enable us to fast track the proposed mine expansion at Crocodile River and should result in a faster production ramp up."

Photographs of the headgear over the Zandfontein shaft can be viewed on the Company's website.

Total shares issued and outstanding: 667,878,194

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