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EPS / ELR - Eastern Platinum Limited - Election Of Directors Of Eastplats
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
ELECTION OF DIRECTORS OF EASTPLATS
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2007) - Mr. Ian Rozier,
President and CEO of Eastern Platinum Limited (`Eastplats` or the `Company`)
(TSX:ELR)(AIM:ELR)(JSE:EPS) is pleased to announce that pursuant to the
Company`s Annual General Meeting (`AGM`) held on October 4, 2007, the
following Directors were re-elected to the Company`s Board of Directors (the
`Board`).
Mr. David Cohen (Chairman), Mr. Ian Rozier (President & Chief Executive
Officer), Mr. Gordon Keep, Mr. John Hawkrigg and Mr. Merfyn Roberts.
Mr. John Andrews was elected to the Board at the AGM.
Mr. Jeff Ahbe is retiring from the Board and did not stand for re-election
for the coming year. Mr. Ahbe was appointed to the Board in March 2006 with
the Company`s acquisition of the 69% indirect interest in Barplats
Investments Ltd. (`Barplats`). Mr. Ahbe was instrumental in the corporate
restructuring of Barplats and has since assisted in the integration of
Barplats and Eastplats.
`With the JSE listing and the Gubevu transaction having been successfully
completed earlier this year, Jeff has decided to spend more time on other
business ventures via his advisory business, Ahbe Capital Investments Group
Inc., and the Company wishes to express its sincere appreciation to Jeff for
all his efforts and wish him good fortune with his future endeavours,`
stated Ian Rozier.
`As Eastplats continues to increase its production profile, the Board
recognises the requirement for more mine operating experience at Board
Level, and the appointment of John Andrews as a director has the unanimous
support of the current Board,` he stated.
Mr. John Edward Andrews, 61, a former director of Barplats, has more than 38
years experience in managing mining operations in the precious metals
industry in the United States, Canada, Mexico, Botswana and South Africa.
John Andrews is a graduate of the Royal School Mines, London and a
registered professional engineer in the Province of Ontario, Canada.
Mr. Andrews served as President and Chief Operating Officer of Stillwater
Mining Company from 1994 to 1999. During his tenure Mr. Andrews successfully
reengineered the management structure, doubled production of platinum and
palladium to 444,000 ounces in 1998, increased productivity, and reduced
cash operating costs to $151 per ounce. Mr. Andrews also played a major role
in Stillwater`s 1994 Initial Public Offering and the several subsequent
financings and feasibility studies required to support the expansion of
Stillwater`s business.
Prior to joining Stillwater Mining, Mr. Andrews held the position of
Director of International Mining Operations for Phelps Dodge Corporation,
where he had responsibility for the Company`s base and precious metals
interests in Southern Africa, Chile, Mexico and Montana. Between 1979 and
1989, Mr. Andrews served as Manager of various headquarters and operations
departments of Exxon Coal & Minerals Company. From 1969 to 1977, Mr. Andrews
held a series of operating positions of increasing responsibility on gold
mines of the Union Corporation Group in South Africa and is currently a
director of Beartooth Platinum Corporation and Amerix Precious Metals
Corporation. Pursuant to AIM rules Schedule 2(g) there is no further
disclosure required.
`John has been working with us on a consulting basis and his expertise and
knowledge of the Crocodile River Mine and of the PGM, has been invaluable;
he brings a wealth of experience and we are extremely pleased that he has
agreed to be a director of Eastplats and become directly involved in the
decision making process,` stated Ian Rozier.
Total shares issued and outstanding: 667,128,194
5 October 2007
FOR FURTHER INFORMATION PLEASE CONTACT:
Eastern Platinum Limited
Investor Relations
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: www.eastplats.com
NOMAD: Canaccord Adams Limited, London
+44 20 7050 6500
Email: Robin.Birchall@canaccordadams.com or
Email: Clayton.Bush@canaccordadams.com
JSE Sponsor: PSG Capital (Pty) Limited
+27 21 887 9602
Email: andreg@psgcapital.com or
Email: anjem@psgcapital.com
Date: 05/10/2007 14:01:31 Supplied by www.sharenet.co.za
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