Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") reports that Spitzkop Platinum (Pty) Ltd is well advanced in its engineering and scheduling study for the Spitzkop section of the Spitzkop-Kennedy's Vale Project on the Eastern Limb of the Bushveld Igneous Complex. Critical risks already identified are the adequate and reliable availability of power and the supply of long lead items such as mills, trackless mining equipment and winders. It is anticipated that the Spitzkop mine will be in production in 2010 and certain sizes of mills now require up to three years to fabricate and install.

Following the acquisition of four power generators (News Release dated April 14th, 2008), Eastplats has also been successful in purchasing six grinding mills which can be commissioned to coincide with the planned mining schedule. Four of the mills will be well suited to cope with the milling of all of the planned ore production from the Spitzkop operation; the other two mills are planned to be installed at the Crocodile River Mine ("CRM") to further increase mill capacity.  All of the mill components have now arrived in South Africa and will be sent for refurbishment; all components have been inspected by the manufacturers and technical consultants and the extent of the refurbishment required has been assessed and costed. No material difficulties are anticipated.

Eastplats has also secured three sets of winders, two of which could be used for the Spitzkop-Kennedy's Vale twin 1000 m vertical shafts that already exist at the site.  The third unit will be used as a 'back-up' unit at the CRM operations.

Additionally, as underground mechanized mining equipment is in great demand, Eastplats has engaged major suppliers to secure additional mining equipments for the commencement of operations. A letter of intent has been issued to Sandvik Mining for the planned fleet at Spitzkop, and manufacturing and delivery schedules are consistent with the provisional planned mining targets.

"The acquisition of this equipment ensures that production from Spitzkop should not be delayed by delivery of long lead items and furthermore, substantial cost savings will be realized when compared to the cost of new mills," stated Ian Rozier.

Total shares issued and outstanding: 671,418,302

Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") is pleased to report on production operations at the Crocodile River Mine ("CRM") for the quarter ended March 31, 2008.

Ounces produced are up by 4.5% this quarter compared to the quarter ended December 31, 2007 despite unexpected power shut-downs that affected the South African mining industry in January. The Company experienced complete power shut-downs totaling 9 days plus additional periods of intermittent power interruptions throughout the month. Resulting production stops and starts also contributed to lost production time. The Company estimates that these shut-downs and interruptions caused a loss of production of approximately 6,000 PGM ounces, which would have been 17% of the quarter’s production. Similarly, the development meters (including on-reef development) and tons mined and processed were all below the previous quarter’s operations by 7 to 17 %.

Recovery rates increased to 78% in the first quarter compared to 72% in the quarter ended December 31, 2007 as a result of improved operating efficiencies at the CRM plant.

“After a very disruptive period in January and early February with respect to power cuts and ongoing reductions in power supply, we have recovered extremely well. Despite the power reductions, substantial progress continues to be made at CRM and we are beginning to see the results of the extensive on and off reef development during the last year which is integral to the ongoing production build-up at the mine”, stated Ian Rozier.

Eastplats will release its full first quarter results on Thursday May 15, 2008 before the market opens and will host a telephone conference call on the same day at 10:00a.m. Pacific (1:00p.m. EST) to discuss the results. The conference call may be accessed by dialing 1-800-319-4610 in Canada and the United States, or 1-604-638-5340 internationally.

The conference call will be archived for later playback until Wednesday May 21, 2008 and can be accessed by dialing 604-638-9010 or 1-800-319-6413 and using the pass code 4219 followed by the number sign.

Total shares issued and outstanding: 671,387,052

Vancouver-based platinum-miner Eastern Platinum (Eastplats) has secured the rights to buy four power generators with a combined capacity of 23,2 MW of power, the firm said. The generators, which were driven by engines that could run on diesel or heavy fuel oil, would ensure that Eastplats could go ahead with the development of the Crocette section at its Crocodile River mine (CRM), as well as the Spitzkop and Kennedy's Vale development, the firm said.

Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") is pleased to report that as part of the ongoing evaluation of the Spitzkop project the Company has commenced with underground trial mining and bulk sampling of the UG2 and Merensky reefs.

Spitzkop is a high grade, platinum and rhodium rich, shallow dipping, near surface PGM deposit with resources in both the UG2 and Merensky reefs. Current estimates indicate that Spitzkop has a UG2 measured resource of 41.8Mt at an average 3PGE+Au grade of 5.2 g/t (7M Mozs) and 6.26 g/t (8.4 Mozs) on a 5PGE+Au grade basis.  A measured resource has also been defined for the Merensky Reef, which contains 48.9Mt at an average 3PGE+Au grade of 2.53 g/t (3.98 Mozs.) and at 2.77 g/t (4.35 Mozs) on a 5PGE+Au grade basis. The Company's emphasis has always been on the evaluation of the PGM Resource in the UG2 reef at Spitzkop.  Previously reported results from confirmatory drilling programs confirm the high grade, platinum and rhodium rich nature of the UG2 at Spitzkop.  With the dramatic increases in PGM prices and the positive outlook for PGM's, the Merensky resource is significant.

A multi-disciplinary technical team has been appointed to finalize the engineering, mine planning, estimating and scheduling for the Spitzkop project.  Technical studies to date suggest that the project, which is located adjacent to the existing Kennedy's Vale twin shaft infrastructure, has the potential to produce approximately 200,000 oz PGMs (3PGE+Au) per annum, with a life of mine in excess of 20 years.  Initial indications are that the operation could exploit both the UG2 and Merensky reefs via decline shafts, and use mechanized off-reef development together with conventional stoping; this is similar to the proven mining method being applied at the Crocodile River Mine operation.

The proposed trial mining at Spitzkop will involve underground 'on-reef' development and test mining in both the UG2 and Merensky reefs.  The trial mine includes decline access from surface in the footwall of the UG2 and Merensky in order to access the reefs beneath the weathered zone (approx. 20m).  Test drives will be developed along the strike of the reefs to evaluate footwall, hanging wall and reef development conditions for full scale mining in both reefs.  Trial stopes will determine the most appropriate mining methods, evaluate reef dilution factors and obtain bulk samples for large scale metallurgical testing and the results will be incorporated into the economic evaluation of the project prior to a full scale mine development decision.

Such a trial mining program is considered to be the most appropriate way to evaluate actual mining conditions to be encountered at Spitzkop in order to conduct a comprehensive evaluation of the project and is consistent with development work undertaken on adjacent PGM deposits. 

"The development of Spitzkop will be another step in Eastplats' plan to become a mid tier PGM producer.  As the UG2 at Spitzkop outcrops at surface it makes sense to go underground and conduct bulk sampling and test mining as part of our project development program," stated Ian Rozier, President and CEO of Eastern Platinum Limited.

Canadian platinum miner Eastern Platinum (Eastplats) has started underground trial mining and bulk sampling at its Spitzkop project, in South Africa's Bushveld Complex, to evaluate the actual mining conditions, it said on Thursday.Spitzkop had the potential to produce about 200 000 oz of three platinum-group elements - platinum, palladium and rhodium - and gold (3PGE+Au), with a life-of-mine of over 20 years, Eastplat's technical studies showed.

Mr. Ian Rozier, President and CEO of Eastern Platinum Limited report that following the granting of the New Order Mining Right for the Crocette section of the Crocodile River Mine (CRM) by the South African Department of Minerals and Energy (DME) the development of the Crocette mine has been initiated and underground development is underway.Crocette [...]

Crocette is one of the few remaining undeveloped near surface PGM projects on the western limb of the Bushveld Complex.  Recent infill drilling has confirmed the continuity of the UG2 to depths exceeding 200m with a dip of 18º, a reef width of 1.2m and an average head grade of 4g/t (3PGE+Au).  Open pit mining at Crocette is not an option as the reef outcrop is highly oxidized close to surface resulting in poor metal recoveries; this is a common feature of outcropping PGM reefs throughout the Bushveld Complex.  Accordingly, Eastplats will expedite underground mine development in order to maximize initial grade and recoveries.  Orebody access and development has begun from two portals at Crocette which will allow entry and exit of the trackless vehicles necessary for orebody development and the tramming of ore from underground.  Atlas Copco is providing the trackless fleet as an extension to the existing Zandfontein fleet.

A commitment to provide construction power for the project has been received from Eskom but alternative guaranteed supplies are also being evaluated by Eastplats.

The Crocette section is anticipated to build up to 40,000 tons per month (anticipated 55,000 opa PGM) at full production by mid 2010 which will enable CRM to reach its full production target of 200,000 tpm (250,000 opa), in line with Eastplats’ anticipated growth profiles.  This does not include any potential production from the Kareespruit Section at CRM.

“The kick-off of Crocette marks another era of expansion of CRM and Eastplats’ operations. We look forward to further increases in production levels to offset current fixed costs on the mine with significantly lower capital inputs in comparison with other deeper PGM projects on the western limb.  The effective build-up of production at Crocette will enable us to continue to fast track the proposed CRM mine expansion.” stated Ian Rozier.

Platinum producer Eastern Platinum (Eastplats) said on Monday that it had started construction at the Crocette section of its Crocodile River mine, after it was granted a new-order mining licence over that section last week.The company said that orebody access and development had begun from two portals at Crocette, which was believed to be one of the few remaining undeveloped near surface platinum group-metals (PGMs) projects on the western limb of the Bushveld Complex.

Eastplats in better position than most to deal with power crunch – Rozier

Mr. Ian Rozier, President and CEO of Eastern Platinum Limited (“Eastplats”) is pleased to report that on 31^st March, 2008, the South African Department of Minerals and Energy ("DME") granted a New Order Mining Right for the Crocette section at the Crocodile River Mine (“CRM”).

The Environmental Management Programme ("EMP") for the Crocette section has been approved.  With the receipt of the New Order Mining Right Eastplats can now proceed with the development of Crocette.

In accordance with the approved Social and Labour Plan (“SLP”) accompanying this mining right, the development and mining of the Crocette section at CRM will generate approximately 300 more jobs at CRM and will directly benefit the local community.

“The granting of the Crocette mining right is excellent news for Eastplats and CRM as well as for the local community who will benefit greatly from this development .   Positive relationships with all stakeholders have made the mining of the Crocette area possible and we will continue to ensure compliance with the conditions of the EMP and SLP”, stated Ian Rozier.

Eastplats recorded a net loss of $12,204,000 ($0.02 loss per share) for the six months ended December 31, 2007 compared to a net income of $4,360,000 ($0.01 earnings per share) for the six months ended December 31, 2006. For the quarter ended December 31, 2007, the Company recorded a net loss of $10,814,000 ($0.02 loss per share) compared to a net income of $6,550,000 ($0.01 earnings per share) in the same period in 2006. Despite increased revenues in the quarter ended December 31, 2007 compared to the quarter ended December 31, 2006, the Company incurred a net loss in the quarter ended December 31, 2007 compared to 2006 as a result of significant foreign exchange loss due to the weakening of the South African rand relative to the Canadian dollar and a stock-based compensation expense compared to the prior period.

Highlights for the quarter ended December 31, 2007

• Revenues from the Crocodile River Mine (“CRM”) of $34,126,000 were generated from the sale of 26,632 PGM ounces, compared to revenues of $25,062,000 from sales of 25,873 PGM ounces in the same quarter in 2006.
• The average sales price per ounce was $1,305 compared to $992 in the same quarter in 2006.
• Operating cash costs were $774 per ounce , compared to $613 per ounce for the same quarter in 2006, primarily as a result of increased on-reef development, and cost increases as a result of a 9% inflation rate in South Africa (accounting for a $58 per ounce increase in cash costs) and an 8% increase in the value of the rand in relation to the U.S. dollar during the period (accounting for a $49 per ounce increase in cash cost).
• EBITDA increased by 58% to $13,179,000, up from $8,324,000 in the same quarter in 2006.
• Total underground development rate increased by 95% to 4,759 meters during the quarter, up from 2,438 met