Eastern Platinum Limited

Eastern Platinum Limited

October 12, 2006 02:00 ET

Executive Management Appointments at Eastplats and Barplats

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2006) - Eastern Platinum Limited ("Eastplats") (TSX:AIM)(AIM:ELR) is pleased to report several executive and management appointments at both Eastplats and at Barplats Investments Limited ("Barplats") in South Africa.

Ian Rozier, President and CEO of Eastplats was recently appointed Chairman of Barplats. As previously reported, Eastplats owns a 69% indirect interest in Barplats, a South African platinum group metals ("PGM") producer.

Eastplats is also pleased to announce the appointment of Mr. David McAdam as Chief Financial Officer of Eastplats. Formerly President of First Line Consultants Inc., a financial advisory firm based in Houston, Texas and previously with Arthur Anderson LLP, David McAdam has many years of experience in financial management, resource optimization and productivity improvement. He also has extensive experience in corporate strategic planning and implementation, business consolidation, acquisitions and divestitures. He was appointed as Finance Director of Barplats in January 2006 and since then has successfully established new financial accounting procedures and controls at Barplats and at the Crocodile River Mine ("CRM").

These appointments reflect both the rapid growth of Eastplats during the previous 24 months and its profile going forward, with an emphasis on financial controls and reporting, and corporate development at both Barplats and Eastplats.

There have also been key appointments at both the corporate and operational levels at Barplats. In early 2006 Mr. Wayne Robinson was appointed as Managing Director of Barplats. With over 20 years of operational experience in the South African mining industry in platinum and gold with Impala Platinum, Gold Fields and Rio Tinto, Mr. Robinson brings enormous operations and management experience to the Barplats/Eastplats group. His previous positions included being the General Manager of Beatrix Gold Mine and Managing Director of the Driefontein Gold Mine, one of the largest mines in the world.

Also at Barplats, Mr. Tom van den Berg was appointed as Mine Manager and Director of Operations in April 2006, with responsibility for all mining operations and projects at CRM. Tom van den Berg brings more than 15 years mining experience to Barplats, having worked for a number of leading South African mining companies. Immediately prior to his appointment at Barplats he was Mine Manager at Impala Platinum in Rustenburg, one of the world's largest platinum producers.

"We are extremely pleased with the progress being made on the Eastplats' projects on the eastern limb of the Bushveld, and particularly so with the underground mine development, plant expansions, and operating and financial reporting procedures ongoing at the Crocodile River Mine on the western limb. The new Barplats management team, with the support of Eastplats, has started to turn CRM to account," stated Ian Rozier.

"The new appointments at Eastplats reflect the rapid growth profile of the Company on all fronts and the management and operating teams in place are looking forward to building the Eastplats/Barplats group into a major player in the world's PGM sector," he said.

Further updates on both the Eastplats' Spitzkop and Mareesburg projects, and Barplats' CRM operations will be made in the near future.

Contact Information

  • Eastern Platinum Limited
    Mr. Ian Rozier, M.Sc., P. Eng.
    President & C.E.O.
    (604) 685-6851
    (604) 685-6493 (FAX)
    Website: www.eastplats.com