FOR: EASTERN PLATINUM LIMITED TSX, AIM SYMBOL: ELR
JSE SYMBOL: EPS April 7, 2008 Eastern Platinum Limited: Mine Construction at the Crocette Section Initiated VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2008) - Mr. Ian Rozier, President and CEO
of Eastern
Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR)(JSE:EPS), is pleased to report that
following the granting of
the New Order Mining Right for the Crocette section of the Crocodile River Mine ("CRM") by the
South African
Department of Minerals and Energy ("DME") the development of the Crocette mine has been
initiated and
underground development is underway.
Crocette is one of the few remaining undeveloped near surface PGM projects on the western limb
of the Bushveld
Complex. Recent infill drilling has confirmed the continuity of the UG2 to depths exceeding
200m with a dip of
18 degrees, a reef width of 1.2m and an average head grade of 4g/t (3PGE+Au). Open pit mining
at Crocette is
not an option as the reef outcrop is highly oxidized close to surface resulting in poor metal
recoveries; this
is a common feature of outcropping PGM reefs throughout the Bushveld Complex. Accordingly,
Eastplats will
expedite underground mine development in order to maximize initial grade and recoveries. Orebody access and
development has begun from two portals at Crocette which will allow entry and exit of the
trackless vehicles
necessary for orebody development and the tramming of ore from underground. Atlas Copco is
providing the
trackless fleet as an extension to the existing Zandfontein fleet.
A commitment to provide construction power for the project has been received from Eskom but
alternative
guaranteed supplies are also being evaluated by Eastplats.
The Crocette section is anticipated to build up to 40,000 tons per month (anticipated 55,000
opa PGM) at full
production by mid 2010 which will enable CRM to reach its full production target of 200,000
tpm (250,000 opa),
in line with Eastplats' anticipated growth profiles. This does not include any potential
production from the
Kareespruit Section at CRM.
"The kick-off of Crocette marks another era of expansion of CRM and Eastplats' operations. We
look forward to
further increases in production levels to offset current fixed costs on the mine with
significantly lower
capital inputs in comparison with other deeper PGM projects on the western limb. The effective
build-up of
production at Crocette will enable us to continue to fast track the proposed CRM mine
expansion," stated Ian
Rozier.
The qualified person having prepared the contents of this news release is Mr. Ian Rozier,
B.Sc.(Hons), M.Sc.,
P.Eng.
Total shares issued and outstanding: 671,308,927 Certain statements included herein constitute "forward-looking statements"
within the meaning of applicable Canadian securities legislation. These forward-looking
statements are based on
certain assumptions by Eastplats and Barplats and as such are not a guarantee of future
performance. Actual
results could differ materially from those expressed or implied in such forward-looking
statements due to
factors such as general economic and market conditions, increased costs of production and a
decline in metal
prices. Eastplats is under no obligation to update or revise any forward-looking statements,
whether as a
result of new information, future events or otherwise, except as required by applicable laws.
S&P TSX Composite Index
-30- 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 OR NOMAD: Canaccord Adams Limited, London
+44 20 7050 6500
Email: Ryan.Gaffney@canaccordadams.com OR JSE Sponsor: PSG Capital (Pty) Limited, South Africa
+27 21 887 9602
Email: anjem@psgcapital.com -0-
Eastern Platinum Limited
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