Wrap Text
News release: Eastplats update on reserve statement
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: CA 2768551038
Share Code AIM: ELR ISIN: CA 2768551038
Share Code JSE: EPS ISIN: CA 2768551038
January 31, 2013
Trading Symbol: ELR (TSX & AIM) EPS (JSE)
NEWS RELEASE
EASTPLATS UPDATE ON RESERVE STATEMENT
AT CROCODILE RIVER MINE
Eastern Platinum Limited (“Eastplats”) is pleased to update its annual reserve statement for the
Crocodile River Mine located near Brits, Northwest Province, South Africa. The updated
reserve reflects depletion and development work subsequent to the reserve statement in the
Company’s NI 43-101 compliant technical report which was published on SEDAR on December
20, 2010 and the Company’s press release of May 17, 2012. The updated reserve is current as of
December 31, 2012. The following factors apply:
15% geological losses are included
15% pillar losses are included
5% mining loss is included
Mining widths are 142 cm at Zandfontein and 146 cm at Maroelabult (Maroelabult was
142 cm in 2011)
Dilution is included consistent with the mining width
Proven and Probable Reserves
Section 2011 Reserve 2012 Reserve Update
4E 4E Pt Pd Rh Au 4E
Proven Tonnes Tonnes
g/t g/t g/t g/t g/t g/t ounces
Zandfontein 1,246,000 4.17 1,554,000 4.17 2.61 1.09 0.43 0.03 208,000
Maroelabult 394,000 3.98 426,000 3.98 2.49 1.04 0.41 0.03 55,000
Subtotal 1,640,000 4.12 1,980,000 4.13 2.58 1.08 0.43 0.03 263,000
Probable
Zandfontein 18,673,000 4.17 17,569,000 4.17 2.61 1.09 0.43 0.03 2,355,000
Maroelabult 1,451,000 3.98 1,268,000 3.98 2.49 1.04 0.41 0.03 162,000
Crocette 3,530,000 3.78 3,530,000 3.78 2.18 0.78 0.35 0.02 429,000
Subtotal 23,654,000 4.10 22,367,000 4.10 2.54 1.05 0.42 0.03 2,947,000
Total 25,294,000 4.10 24,347,000 4.10 2.54 1.05 0.42 0.03 3,210,000
At Maroelabult, 41,483m2 have been removed from the reserves as a result of the 2012 drilling
program which provided for an improved interpretation of the displacement along the
Kareespruit fault. Increases in Proven Reserves are due to development work through 2012
consistent with the current operating plan (see June 12, 2012 press release).
The qualified person having reviewed the reserves data and information presented in this press
release is Mr. Brian Montpellier, P.Eng.
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
This press release, which contains certain forward-looking statements, is intended to provide readers with a reasonable basis for
assessing the financial performance of the Company. All statements, other than statements of historical fact, are forward-looking
statements. The words “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”,
“estimate”, “may”, “will”, “schedule” and similar expressions identify forward looking statements. These forward-looking
statements pertain to assumptions regarding the price of PGMs, fluctuations in currency markets (specifically the Rand and the
U.S. dollar), the future funding of the Company’s projects, the future development of the Company’s projects, the Company’s
plans for its properties, the anticipated timing for the awarding of tenders, and the accounting policies issued but not yet effective
for the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties
and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the
forward-looking statements. Such factors include, but are not limited to, the risk of fluctuations in the assumed exchange rates of
currencies that directly impact the Company, such as Canadian dollar, South African Rand and U.S. dollar, the risk of
fluctuations in the assumed prices of PGM and other commodities, the risk of changes in government legislation, taxation,
controls, regulations and political or economic developments in Canada, the United States, South Africa, or Barbados or other
countries in which the Company carries or may carry on business in the future, risks associated with mining or development
activities, the speculative nature of exploration and development, including the risk of obtaining necessary licenses and permits,
and assumed quantities or grades of reserves. Many of these uncertainties and contingencies can affect the Company’s actual
results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements
made by, or on behalf of, the Company. Readers are cautioned that forward-looking statements are not guarantees of future
performance. There can be no assurance that such statements will prove to be accurate and actual results and future events could
differ materially from those acknowledged in such statements. Specific reference is made to the Company's most recent Annual
Information Form on file with Canadian provincial securities regulatory authorities for a discussion of some of the factors
underlying forward-looking statements.
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: 31/01/2013 03:09:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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