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EASTERN PLATINUM LIMITED - Eastplats Announces Voting Results Of The Annual General Meeting Of Shareholders And A Construction Update

Release Date: 15/06/2018 08:45
Code(s): EPS     PDF:  
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Eastplats Announces Voting Results Of The Annual General Meeting Of Shareholders And A Construction Update

(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”)

June 15, 2018
Trading Symbol: ELR (TSX); EPS (JSE)

                                  NEWS RELEASE

June 15, 2018, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the “Company”) is pleased
to announce that all of the nominees proposed as directors and listed in the management information circular dated
May 10, 2018 (the “Circular”) were elected as directors of Eastplats at its annual general meeting of shareholders
held on June 14, 2018 (the “Meeting”). At the Meeting, PricewaterhouseCoopers LLP were also re-appointed as
auditors of Eastplats.
Detailed results of the vote for the election of directors held at the Meeting are set out below:

                   Business                       Outcome of Vote              Votes For            Votes Withheld
      Resolution electing:

          (a) Diana Hu;                               Approved                 52,085,543               24,447
                                                                                (99.95%)               (0.05%)
          (b) Michael Cosic;                          Approved                 52,085,601               24,389
                                                                                (99.95%)               (0.05%)
          (c) George Dorin;                           Approved                 52,087,236               22,754
                                                                                (99.96%)               (0.04%)
          (d) Bielin Shi;                             Approved                 52,080,850               29,140
                                                                                (99.94%)               (0.06%)
          (e) Nigel K. Dentoom; and                   Approved                 52,087,336               22,654
                                                                                (99.96%)               (0.04%)
          (f) Xin (Alex) Guan                         Approved                 52,081,685               28,305
                                                                                (99.95%)               (0.05%)
      as directors of the Company.

Construction of the Retreatment Project

As previously disclosed, on March 1, 2018, the Company and its subsidiary Barplats Mines (Pty) Limited (“Barplats”)
entered into a framework agreement (the “UG Agreement”) with Union Goal Offshore Solutions Limited (“Union
Goal”) relating to construction, mining and processing of the tailing resource and offtake of chrome concentrate from
the Barplats Zanfontein UG2 tailings facility (the “Retreatment Project”) located at the Company’s Crocodile River
Mine in South Africa (“CRM”). The Company and Union Goal have extended the completion of all the conditions
precedent of the UG Agreement until July 15, 2018.

The Company continues the construction phase of the Retreatment Project with the expected completion date
estimated at the end of Q3 2018. Construction work on the chrome processing circuit continues to progress well while
work continues on schedule at the tailings facility to prepare for the mining phase and good progress continues on
building the walls for the deposition of tailings with the target for initial production remaining the fall of 2018. The
estimated total capital requirements for Barplats in relation to the Retreatment Project remain at ZAR 191,242,000
(US$14,389,000) with costs in the amount of ZAR32,759,000 (US$ 2,465,000) incurred to May 31, 2018.

For further information, please contact:

 Rowland Wallenius, Chief Financial Officer and Corporate Secretary (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
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. Further disclosure of the risks and uncertainties facing the Company and other forward-looking
statements are discussed in the Company’s Annual Information Form and Management’s Discussion and Analysis
which are available under the Company’s profile on

In particular, this press release contains forward-looking statements pertaining to: the timing of completion of the
conditions precedent to the UG Agreement, estimated timing of construction and initial production of the Retreatment
Project, and estimated capital requirements for the Retreatment Project. 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, commodity prices, 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.


JSE Sponsor

PSG Capital

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