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EASTERN PLATINUM LIMITED - Eastplats Provides Bi-Weekly Default Status Report

Release Date: 13/04/2017 08:30
Code(s): EPS     PDF:  
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Eastplats Provides Bi-Weekly Default Status Report

EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR ISIN: CA2768555096
Share Code JSE: EPS ISIN: CA2768555096
(“Eastplats” or the “Company” or “the Group”)

April 13, 2017
Trading Symbol: ELR (TSX); EPS (JSE)

                                        NEWS RELEASE

                      EASTPLATS PROVIDES BI-WEEKLY DEFAULT STATUS REPORT

April 13, 2017, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the “Company”)
is providing this bi-weekly default status report in accordance with National Policy 12-203 Cease Trade
Orders for Continuous Disclosure Defaults (“NP 12-203”). On April 5, 2017, the Company announced
that it was unable to file its audited annual financial statements by the prescribed deadline because the
Company’s Auditor had advised that it would not be able to deliver its audit report until the previously
disclosed investigation into certain transactions entered into by former management of the Company was
further advanced. The annual audited financial statements for the fiscal year ended December 31, 2016 and
the related management’s discussion and analysis and Annual Information Form (collectively, the “2016
Annual Financial Statements”) were not filed by the March 31, 2017 deadline.

On April 4, 2017, the British Columbia Securities Commission, as principal regulator, granted a temporary
management cease trade order (the “MCTO”) to the Company. The Company’s Auditor is presently
completing its 2016 audit work, which will include a review of any new information obtained from an
expansion of the Company’s previously disclosed investigation into certain transactions entered into by
former management of the Company. The Company intends to file the 2016 Annual Financial Statements
once the Company’s Auditor has completed its 2016 audit work.

Pursuant to NP 12-203, the Company must file bi-weekly default status reports in the form of further news
releases during the period of the MCTO. The Company reports that since its news release of April 5, 2017,
there have been no material changes regarding the information contained in that news release. The
Company confirms there have been no failures by it in fulfilling its stated intentions with respect to
satisfying the provisions of the alternative information guidelines under NP 12-203, and there has not been,
nor is there anticipated to be, any specified default subsequent to the default announced in the Company’s
news release of April 5, 2017.

For further information, please contact:
 EASTERN PLATINUM LIMITED
 Rowland Wallenius, Chief Financial Officer and Corporate Secretary
 rwallenius@eastplats.com (email)
 (604) 800-8200 (phone)
Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as
“forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include,
without limitation, forecasts, estimates, expectations and objectives for future operations and actions that are subject to a number
of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are
statements that are not historical facts and are generally, but not always, identified by the words “will”, “plan”, “intends”, “may”,
“could”, “expects”, “anticipates” and similar expressions.

In particular, this press release contains forward-looking statements pertaining to Eastplats’ filing of the 2016 Annual Financial
Statements and the completion of the 2016 audit work by the Auditor. These forward-looking statements are based on assumptions
made by and information currently available to the Company. Although management considers these assumptions to be reasonable
based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements
involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of
factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions
expressed in such forward-looking statements. These factors include, but are not limited to, unfavourable changes in regulatory
structures, general risks associated with business, failure to complete the audit in a timely manner, economic conditions, currency
fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

The forward-looking statements in this press release are made as of the date they are given and, except as required by applicable
securities laws, the Company disclaims any intention or obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

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

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

JSE Sponsor:

PSG Capital Proprietary Limited

Date: 13/04/2017 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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