EASTERN PLATINUM LIMITED - Eastplats And Hebei Zhongbo Agree To Close The Sale Of CRM Prior To The Closing Of The Eastern Limb Assets

Eastplats And Hebei Zhongbo Agree To Close The Sale Of CRM Prior To The Closing Of The Eastern Limb Assets

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 AND HEBEI ZHONGBO AGREE TO CLOSE THE SALE OF CRM PRIOR
TO THE CLOSING OF THE EASTERN LIMB ASSETS

June 8, 2015, Vancouver – Eastern Platinum Limited (“Eastplats”
or the “Company”) announces that it has reached an agreement in
principal with Hebei Zhongbo Platinum Co. Limited (“HZP”) to
restructure the transaction whereby HZP is to acquire the
Company’s entire platinum group metal (“PGM”) business and all
investments and loan agreements that Eastplats has with its
subsidiary companies (the “Original Acquisition”). As agreed,
the parties would proceed forthwith to complete the purchase and
sale of the Crocodile River Mine and associated inter-corporate
loans for US$85,000,000, payable in cash on closing (estimated
to occur on or before August 7, 2015). The sale of the balance
of the Company’s remaining PGM business (the Spitzkop, Kennedy’s
Vale and Mareesburg projects and inter-corporate  loans)
continues as previously disclosed for total consideration of
US$140,000,000 and these transactions are estimated to close on
or before October 31, 2015. The total consideration from the two
transactions remains equal to US$225,000,000 as in the Original
Acquisition.

The restructuring of the transaction as described above was
determined to be in the best interests of the Company and HZP as
the manner to best address timing issues with respect to various
submissions on a regional asset basis that are required for
regulatory approvals for the Original Acquisition as a whole.
The restructuring of the Original Transaction as detailed above
and the closing of the above referenced transactions remain
subject to the execution of definite agreements and receipt of
all necessary regulatory approvals.

For further information, please contact:
EASTERN PLATINUM LIMITED
Ian Rozier, President and CEO
+1-604-685-6851 (tel)
+1-604-685-6493 (fax)
info@eastplats.com
www.eastplats.com

JSE SPONSOR
David Tosi
PSG Capital (Pty) Limited
Email: davidt@psgcapital.com
Tel: +27 21 887 9602

June 8, 2015

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

Cautionary Statement Regarding Forward-Looking Information

This press release contains ‘forward-looking information’ within
the meaning of Canadian securities legislation. Forward-looking
information in this press release includes information about the
completion, timing and potential benefits of the proposed
transaction between Eastplats and Hebei Zhongbo. These forward-
looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to
differ materially from those anticipated, including, the
contemplated transaction not being completed as a result of a
number of factors including, without limitation, the
shareholders of Eastplats not approving the transaction or
required regulatory approvals not being obtained, and other
risks and uncertainties. Readers should not place undue reliance
on the forward-looking information contained in this news
release. Eastplats does not undertake to update any forward-
looking information, except as required by applicable securities
laws.

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