EASTERN PLATINUM LIMITED - Eastern Platinum Limited announces completion of Special Committee Investigation

Eastern Platinum Limited announces completion of Special Committee Investigation

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" or the "Company")

Trading Symbol: ELR (TSX); EPS (JSE)

NEWS RELEASE

EASTERN PLATINUM LIMITED ANNOUNCES COMPLETION OF SPECIAL COMMITTEE INVESTIGATION

December 11, 2023, Vancouver, British Columbia - Eastern Platinum Limited ("Eastplats" or the
"Company") announces that the special committee (the "Committee") formed by two
independent directors of the Board of Directors (the "Board") of the Company to conduct an
investigation, review and analysis of unproven whistleblower allegations, including allegations of
undisclosed related party transactions pertaining to the sale of chrome concentrate at discounted
prices (the "Allegations") has completed its investigation.

With assistance from independent counsel engaged and a third-party e-discovery specialist to
assist with the investigation, the Committee found the Allegations advanced by the whistleblowers
to be unsubstantiated. The Committee did not find evidence to establish that the Company
entered into any related party transaction pertaining to the sale of chrome concentrate and further
concluded that the prices of the contracts in respect of the sale of chrome concentrate described
in the Allegations were within a reasonable range of market price, particularly in the challenging
circumstances the Company faced in the latter half of 2022 and taking into account delivery terms
and the grade of chrome concentrate.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of
South Africa. All of the Company's properties are situated on the western limb (Crocodile River
Mine) and eastern limb (Kennedy's Vale, Spitzkop Mareesburg) of the Bushveld Complex, the
geological environment that hosts approximately 80% of the world's PGM-bearing ore.

Operations at the Crocodile River Mine currently include re-mining and processing its tailings
resource to produce PGM and chrome concentrates from the Barplats Zandfontein tailings dam.

For further information, please contact:
EASTERN PLATINUM LIMITED
Wylie Hui, Chief Financial Officer & Corporate Secretary
whui@eastplats.com (email)
(604) 800-8200 (phone)

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

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
SERVICES

The Company has a primary listing on the Toronto Stock Exchange and a secondary listing on
the JSE Limited.

11 December 2023

JSE Sponsor
PSG Capital

Date: 11-12-2023 03:45:00
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