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

Eastern Platinum Limited

October 18, 2012 08:00 ET

Eastplats Reports Production Results For the Quarter Ended September 30, 2012

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2012) - Eastern Platinum Limited (TSX:ELR)(AIM:ELR)(JSE:EPS) ("Eastplats") reports operating results from the Crocodile River Mine ("CRM") for the quarter ended September 30, 2012 ("Q3 2012").

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

Quarter ended Increase (decrease)


Production statistics

Sep 30,
2012

Jun 30,
2012

Mar 31,
2012

Dec 31,
2011

Sep 30,
2011
Q3 2012
vs.
Q2 2012
Q3 2012
vs.
Q3 2011
Ounces produced 21,273 26,412 24,474 19,854 26,955 (5,139 ) (5,682 )
Run-of-mine tonnes hoisted 206,176 257,250 247,538 200,919 265,889 (51,074 ) (59,713 )
Run-of-mine tonnes processed 203,279 252,883 235,354 194,532 261,280 (49,604 ) (58,001 )
Development (meters) 2,066 2,922 3,117 2,929 3,976 (856 ) (1,910 )
On-reef development (meters) 966 1,653 1,704 1,591 2,248 (687 ) (1,282 )
Stoping units (square meters) 28,943 40,959 39,857 31,767 40,594 (12,016 ) (11,651 )
Head grade (grams/tonne) 4.08 3.99 4.07 4.05 4.08 0.09 -
Concentrator recovery from ROM ore* 76 % 79 % 77 % 76 % 78 % (3 %) (2 %)
Chrome dispatched (tonnes) 53,761 56,521 74,920 62,791 77,531 (2,760 ) (23,770 )
* Concentrator recovery has been rounded to the nearest percentage point.

The Company is in the process of implementing a comprehensive mine development plan at CRM as previously announced on August 14, 2012.

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

Eastplats expects to release its full third quarter results on Wednesday, November 14, 2012.

Total shares issued and outstanding: 928,187,807

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 pertain to the price of PGMs, fluctuations in currency markets (specifically the South African Rand and the U.S. dollar), the future development of the Company's projects, and the Company's plans for its properties. These forward-looking statements are based on certain assumptions by the Company 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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