Eastern Platinum Limited

Eastern Platinum Limited

August 26, 2005 09:01 ET

Eastern Platinum Ltd.: Admission to AIM

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 26, 2005) - Eastern Platinum Ltd. ("Eastplats" or the "Company") (TSX:ELR) announces that its existing common shares ("Common Shares") were admitted to trading on the AIM market of the London Stock Exchange plc today under the symbol "ELR". The Company's Common Shares are also listed on the Toronto Stock Exchange ("TSX") under the symbol "ELR". Canaccord Capital (Europe) Limited ("Canaccord") is the Company's Nominated Adviser and Broker.

Eastplats was created in April 2005 by the amalgamation ("Amalgamation") of two Canadian listed companies, Elgin Resources Inc. and Jonpol Explorations Limited. The Company has interests in three platinum group metal ("PGM") projects in the eastern limb of the Bushveld Complex in South Africa: the Rooikraal PGM project, the Mareesburg PGM project and a controlling interest in the Spitzkop PGM project.

The Company raised approximately C$34 million in April 2005 in connection with the Amalgamation and related consolidation of the controlling interest in the Spitzkop PGM project into one company, Eastplats. The Company intends to put both the Spitzkop PGM project and the Mareesburg PGM project into production following the completion of definitive feasibility studies on both projects.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities in any jurisdiction.

The foregoing information may contain forward-looking statements relating to the future performance of Eastern Platinum Limited. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Corporation's filings with the appropriate securities regulatory authorities in Canada, which filings are available on SEDAR at www.sedar.com.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The Common Shares will not and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

This announcement has been issued by the Company and is the sole responsibility of the Company. Canaccord is regulated in the United Kingdom by the Financial Services Authority and is acting solely for the Company in connection with the Admission and no one else. Canaccord has been appointed as nominated adviser and broker to the Company. Canaccord will not regard any other person as its client or be responsible to any other person for providing the protections afforded to clients of Canaccord nor for providing advice in relation to the Admission. Canaccord is not making any representation or warranty, express or implied, as to the contents of this announcement. Canaccord accepts no liability whatsoever for the accuracy of any information or opinions expressed in this announcement or for the omission of any information.

The TSX has neither approved nor disapproved of the information contained herein.

Contact Information

  • Eastern Platinum Ltd.
    Mr. Ian Rozier, M.Sc., P. Eng.
    President & CEO
    (604) 685-6851
    (604) 685-6493 (FAX)