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EASTERN PLATINUM LIMITED - Eastplats Investigates Previously Announced Transaction

Release Date: 11/08/2016 09:38
Code(s): EPS     PDF:  
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Eastplats Investigates Previously Announced Transaction

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 Investigates Previously Announced Transaction

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/07/16 -- On July 4, 2016, the former
management of Eastern Platinum Limited ("Eastplats" or the "Company") (TSX: ELR)(JSE: EPS)
announced that it had reached agreement with certain holders of minority interests to buy their
interests in all the Company's projects, including but not limited to the Crocodile River Mine for a total
of U.S.$13,366,609(the "Acquisition").

On July 5, 2016, following a successful campaign by dissident shareholders, the Company announced the
election of a new board of directors and changes in management of the Company. On July 6, 2016, the
new board of directors and management appointees found that the Acquisition has been completed and
certain minority interests in the aggregate amount of approximately US$13,366,609 had been paid out.

The Company is reviewing the Acquisition, the payment to certain minority interests and all related
transactions conducted by former management of the Company and will update shareholders of
Eastplats in due course.

The new management and board of directors of Eastplats continue to investigate the actions of former
management and are trying to gain access to the books and records of the Company, the website of the
Company and all documentation relating to the Acquisition.

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 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 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", "will", "could", "expects", "anticipates" and similar expressions

In particular, this press release contains forward-looking statements pertaining to the ongoing review of
the Acquisition by the Company,future updates to be provided to shareholders of the Company in
connection with the ongoing review and the attempt of the Company to gain access to the books and
records of the Company, the website of the Company and all documentation relating to the Acquisition.

Statements including forward-looking statements 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 publically
update or revise any forward-looking statements, whether as a result of new information, future events
or otherwise.

Contacts:
Eastern Platinum Limited
Peter M. Clausi
Interim CEO
1 416-890-1232
1 647-345-3146
pclausi@cogeco.ca

7 July 2016
JSE Sponsor: PSG Capital Proprietary Limited

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