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EPS - Eastplats - Update on vertical shaft commissioning at Crocodile River Mine

Release Date: 10/09/2007 13:59
Code(s): EPS
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EPS - Eastplats - Update on vertical shaft commissioning at Crocodile River Mine EASTERN PLATINUM LIMITED (Incorporated in Canada) (Canadian Registration number BC0722783) (South African Registration number 2007/006318/10) Share Code TSX: ELR & ISIN: CA2768551038 Share Code AIM: ELR & ISIN: CA2768551038 Share Code JSE: EPS & ISIN: CA2768551038 UPDATE ON VERTICAL SHAFT COMMISSIONING AT CROCODILE RIVER MINE Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") reports that equipping of the 415m deep, 8.5 m diameter vertical shaft, at a cost of R150 million, is progressing well at the Zandfontein section of the Crocodile River Mine. The headgear, which previously stood over one of the two 1000m deep shafts at Kennedy`s Vale, has successfully been repositioned over the Zandfontein Shaft. This work has been carried out without any serious incidents or delays. On completion of the shaft equipping which is expected by May 2008, the shaft will initially be used for hoisting men and material. Shortly thereafter, commissioning for rock hoisting will take place giving an initial shaft hoisting capacity of 120,000 tonnes per month which may be increased once ore reserve development allows for further production increases. Initial development of a sub-incline shaft system will take place concurrently through the existing decline system at Zandfontein. The combination of using the Kennedy`s Vale headgear and concurrent incline development will allow access into the orebody below 4 level approximately 6 months earlier than would have otherwise been possible. Murray and Roberts Cementation is the contracting company performing this work and to date have achieved all cost and progress milestones. RSV, a recognised Consulting Engineering Company in the platinum industry, have assisted with project management and application of engineering best practice. Ian Rozier, CEO of Eastplats, stated that, "The effective equipping of the vertical shaft at Zandfontein and the concurrent incline development will enable us to fast track the proposed mine expansion at Crocodile River and should result in a faster production ramp up." Photographs of the headgear over the Zandfontein shaft can be viewed on the Company`s website. Total shares issued and outstanding: 667,878,194 For further information contact: Investor Relations Website: www.eastplats.com Email: info@eastplats.com #501-837 West Hastings Street, Vancouver, BC, Canada, V6C 3N6 Tel: (604) 685-6851, Fax: (604) 685-6493 NOMAD: Canaccord Adams Limited, London Email: Robin.Birchall@canaccordadams.com Clayton.Bush@canaccordadams.com Tel: +44 20 7050 6752 JSE Sponsor: PSG Capital (Pty) Limited, South Africa Email: andreg@psgcapital.com anjem@psgcapital.com Tel: +27 21 887 9602 Date: 10/09/2007 13:59:02 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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