EPS - Eastern Platinum Limited - News release

EPS - Eastern Platinum Limited - News release                                   
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                                          
EASTERN PLATINUM LIMITED: NEWS RELEASE                                          
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2007) - Eastern Platinum    
Limited (the `Company`) (TSX:ELR)(AIM:ELR)(JSE:EPS) reports that on October 4,  
2007, in accordance with the Company`s Stock Option Plan (the `Option Plan`) and
the policies of the Toronto Stock Exchange (the `TSX`) it granted Incentive     
Stock Options on 15,090,000 shares of the Company`s capital stock, exercisable  
up to October 5, 2017 at a price of $2.31 per share. The exercise price of these
options was set at market price as defined by TSX policy.                       
These options were granted to employees and officers of the Company, including  
Directors Mr. Ian Rozier and Mr. David Cohen as to 3,925,000 options each,      
1,200,000 options to Mr. John Andrews, and 200,000 options each to Mr. Gordon   
Keep, Mr. Jeff Hawkrigg and Mr. Merfyn Roberts.                                 
The Company has a total of 668,128,194 issued and outstanding shares, a market  
capitalization of approximately Cdn$1.8 billion on an undiluted basis, and has  
working capital of approximately Cdn$200,000 million.                           
12 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: 12/10/2007 10:54:05 Supplied by www.sharenet.co.za                     
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