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EASTERN PLATINUM LIMITED - News release: Eastplats reports production results for the quarter ended September 30, 2012

Release Date: 18/10/2012 14:22
Code(s): EPS     PDF:  
Wrap Text
News release: Eastplats reports production results 
for the quarter ended September 30, 2012

EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR ISIN: CA 2768551038
Share Code AIM: ELR ISIN: CA 2768551038
Share Code JSE: EPS ISIN: CA 2768551038

October 18, 2012
Trading Symbol: ELR (TSX & AIM) EPS (JSE)


NEWS RELEASE

EASTPLATS REPORTS PRODUCTION RESULTS
FOR THE QUARTER ENDED SEPTEMBER 30, 2012

Eastern Platinum Limited (“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)
                                                                                              Q3 2012      Q3 2012
                                        Sep 30,    Jun 30,    Mar 31,    Dec 31,    Sep 30,      vs.         vs.
Production statistics                    2012       2012      2012        2011      2011      Q2 2012      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
For further information contact:
Investor Relations
Website: www.eastplats.com
Email: info@eastplats.com
Tel: 1-(604)-685-6851, Fax: 1-(604)-685-6493


NOMAD:
Rob Collins
Canaccord Genuity Limited, London
Tel: +44 (0) 207 7523 8000

JSE SPONSOR:
Johan Fourie
PSG Capital (Pty) Limited
Email: johanf@psgcapital.com
Tel: +27 21 887 9602

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained
herein.



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.

Date: 18/10/2012 02:22:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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