Eastern Platinum Limited
TSX : ELR
AIM : ELR
JSE : EPS

Eastern Platinum Limited

April 15, 2011 17:00 ET

Eastplats Reports Production Results For the Quarter Ended March 31, 2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2011) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR)(JSE:EPS), is pleased to report operating results from the Crocodile River Mine ("CRM") for the first quarter ended March 31, 2011.

Production statistics for the current quarter and historical quarters are as follows:


Quarter ended
Increase (decrease)
Production statisticsMar 31,
2011
Dec 31,
2010
Sept 30,
2010
Jun 30,
2010
Mar 31,
2010
Q1 2011
vs.
Q4 2010
Q1 2011
vs.
Q1 2010
Ounces produced25,38732,75237,79830,82030,531(7,365)(5,144)
Run-of-mine tonnes hoisted247,369324,879362,042297,186304,309(77,510)(56,940)
Run-of-mine tonnes processed245,500327,872357,219290,028290,854(82,372)(45,354)
Development (meters)4,2193,5013,2993,2022,8127181,407
On-reef development (meters)2,4341,9251,7971,5731,931509503
Stoping units (square meters)44,67453,04450,89250,57351,760(8,370)(7,086)
Head grade (grams/tonne)3.933.974.034.124.11(0.04)(0.17)
Concentrator recovery from ROM ore *79%78%81%80%78%1%1%
Chrome dispatched (tonnes)62,49879,461100,02376,67775,846(16,963)(13,348)
*Concentrator recovery has been rounded to the nearest percentage point.

Early in the quarter, a comprehensive internal safety review was conducted in line with new DMR (South African Department of Mineral Resources) general safety recommendations on roof support requirements. Following this review, support methods at CRM have been modified. This review has also accelerated the previously planned progressive introduction of cement grout support packs into working panels as mining operations at CRM get deeper and where support requirements are projected to increase. These measures should further enhance safety standards at CRM. This increase in support standards necessitated the retraining of underground personnel with a consequent temporary reduction in the number of working panels during the quarter that impacted on mine production.

Following the decision taken early in 2010 to accelerate the development of reserves at CRM, development has increased for the fourth consecutive quarter.

Concentrator recovery from ROM ore for the quarter increased to 79% compared to 78% in the quarter ended December 2010 as a result of improved concentrator utilization and stability.

The increase in on reef development has impacted slightly on the head grade delivered to the plant.

"The traditional slow start in January combined with the introduction of revised support methods resulted in a significant decrease in production for the quarter. We are confident that the impact of this is short term and that production will return to anticipated levels. Development at Crocette is progressing, and in the Eastern Limb we anticipate awarding contracts for construction for Mareesburg shortly," stated Ian Rozier.

The qualified person having reviewed the operating results presented in this press release is Mr. Brian Montpellier, P. Eng, V.P. Project Development.

Eastplats will release its full first quarter results on Wednesday, May 11, 2011.

Total shares issued and outstanding: 908,187,807

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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 as such are not a guarantee of future performance. 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, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as 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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