Eastern Platinum Limited

Published : May 24th, 2011

Operations Resume At Crocodile River Mine – Two Year Wage Agreement Reached With NUM

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Eastern Platinum

OPERATIONS RESUME AT CROCODILE RIVER MINE
� TWO YEAR WAGE AGREEMENT REACHED WITH NUM

May 24, 2011

Eastern Platinum Limited (�Eastplats� or the �Company�) is pleased to report that as of Friday 20th May, full mining operations have resumed at the Crocodile River Mine (�CRM�), and a two year wage agreement has been reached with the National Union of Mineworkers (�NUM�).

Operations at CRM are normalizing following the previously reported illegal �sit-in� by 155 employees, and an illegal strike by a further 480 employees that resulted in disrupted production at the Zandfontein and Maroelabult sections at CRM, as well as damage to underground infrastructure.

Management at CRM have continued to constructively engage with NUM and confirmed that all employees at the mine, except the 155 who are subject to disciplinary action, have returned to work as of Friday 20th May.  Following extensive negotiations with NUM, a two-year wage agreement has been reached with NUM which provides for an effective cost to company increase of approximately 10% year-on-year commencing March 1, 2011. The Company is very pleased to have reached an agreement on wages, benefits and other production related issues and recognizes the efforts of both CRM management and NUM leadership on the outcome achieved.

It is estimated that second quarter production will be negatively impacted by approximately 7,000 PGM ounces as a result of this industrial action.  CRM management and NUM have agreed to work together to make every effort to make up this shortfall over the balance of 2011.

�Our primary focus has been to resolve this situation safely for everyone and we would like to thank all those involved in achieving this.  It is now critical that all parties continue to work together to maintain a safe and beneficial working environment to increase productivity at CRM for the benefit of employees, shareholders, the local community and all other stakeholders�, stated Ian Rozier, President and CEO of Eastplats.


Total shares issued and outstanding � 908,187,807

For further information, please contact:

EASTERN PLATINUM LIMITED
Ian Rozier, President & C.E.O.
+1-604-685-6851 (tel)
+1-604-685-6493 (fax)
info@eastplats.com
www.eastplats.com


NOMAD:
Mark Williams / Ryan Cohen
Canaccord Genuity Limited, London
Email: MWilliams@canaccordgenuity.com / rcohen@canaccordgenuity.com
Tel: +44 20 7050 6500

JSE SPONSOR:
Johan Fourie
PSG Capital (Pty) Limited
Email: johanf@psgcapital.com
Tel: +27 21 887 9602

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


Cautionary Statement on Forward-Looking Information

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 therefore, readers are cautioned that forward-looking statements are not a guarantee of future performance. There can be no assurance that such statements will prove to be accurate and 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, changes in government legislation, controls, regulations and political developments. Specific reference is made to the Company's most recent Annual Information Form on file with Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.


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Eastern Platinum Limited

PRODUCER
CODE : ELR.TO
ISIN : CA2768551038
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Eastern Platinum is a platinum producing company based in Canada.

Eastern Platinum produces platinum, palladium in South Africa.

Its main asset in production is CROCODILE RIVER in South Africa and its main exploration properties are KENNEDY'S VALE, MAREESBURG and SPITZKOP in South Africa.

Eastern Platinum is listed in Canada, in Germany and in United Kingdom. Its market capitalisation is CA$ 20.8 millions as of today (US$ 15.2 millions, € 14.2 millions).

Its stock quote reached its highest recent level on August 05, 2011 at CA$ 9.90, and its lowest recent point on August 11, 2023 at CA$ 0.07.

Eastern Platinum has 92 639 032 shares outstanding.

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Financings of Eastern Platinum Limited
2/1/2011Final Credit Approval Received For US$100 Million Debt Finan...
Option Grants of Eastern Platinum Limited
6/3/2011Best Practice Revisions to the Stock Option Plan and Shareho...
Nominations of Eastern Platinum Limited
6/13/2013Announces Election of Directors
Financials of Eastern Platinum Limited
3/29/2011Reports Results For The Year Ended December 31, 2010
Project news of Eastern Platinum Limited
6/24/2013(Crocodile River)Crocodile River Mine to Be Placed on Care and Maintenance; S...
4/19/2013(Crocodile River)Eastplats Suspends Funding for the Crocodile River Mine Deve...
1/29/2013Eastplats Reports Production Results for the Quarter Ended D...
10/18/2012Eastplats Reports Production Results For the Quarter Ended S...
7/19/2012Eastplats Reports Production Results for the Quarter Ended J...
6/12/2012(Crocodile River)Eastplats Reports Proposed Development Plan for Crocodile Ri...
5/30/2012(Mareesburg)Eastplats Suspends Funding for the Mareesburg/KV Project
4/19/2012Eastplats Reports Production Results for the Quarter Ended M...
1/24/2012Eastplats Reports Production Results For the Quarter Ended D...
7/19/2011Eastplats Reports Production Results for the Quarter Ended J...
5/24/2011(Crocodile River)Operations Resume At Crocodile River Mine – Two Year Wage Ag...
5/12/2011(Crocodile River)On The Reported Industrial Action At Crocodile River Mine Op...
4/16/2011Eastplats Reports Production Results For The Quarter Ended M...
Corporate news of Eastern Platinum Limited
7/4/2016Eastplats Reaches Agreement With Minority Interest Partners
6/28/2016Hebei Zhongheng Tianda Platinum Co. Limited To Purchase The ...
6/21/2016Eastplats: Independent Proxy Advisor ISS Recommends that Sha...
6/8/2016Eastplats: Dissident Ka An’s Nominees Have Poor Track Record...
5/31/2016Eastern Platinum Ltd. Files Management Information Circular ...
2/1/2016President & CEO Ian Rozier Steps Down
10/22/2015Eastern Platinum Limited Comments On The News Release Of Bei...
10/22/2015IIROC Trade Resumption - ELR
10/22/2015Eastern Platinum Limited Comments on the News Release of Bei...
10/21/2015IIROC Trading Halt - ELR
9/16/2015Eastplats And Hebei Zhongbo Receive Approval From The South ...
9/12/2015Eastern Platinum Announces Voting Results of Annual General ...
9/11/2015Eastern Platinum Announces Voting Results of Annual General ...
8/10/2015Eastern Platinum Limited: News Release
7/20/2015News Release
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4/9/2015Break Fees Placed Into Escrow by Hebei Zhongbo and Eastplats
2/25/2015Eastplats Receives Shareholder Approval And Hebei Zhongbo Re...
2/5/2015Eastplats Receives Shareholder Approval and Hebei Zhongbo Re...
1/6/2015Eastplats Reaches Agreement With Minority Interest Partners
11/7/2014IIROC Trade Resumption - ELR
11/7/2014IIROC Trading Halt - ELR
7/17/2014Eastern Platinum Limited Clarifies Effective Trading Date fo...
7/14/2014Eastern Platinum Limited Announces Effective Date of Share A...
6/13/2014Eastern Platinum Announces Voting Results of Annual General ...
8/14/2013Reports Results for the Three Months Ended June 30, 2013
5/15/2013Reports Results for the Three Months Ended March 31, 2013 an...
3/14/2013Reports Results for the Quarter and Year Ended December 31, ...
2/19/2013Restricted Operations at Zandfontein Section
2/13/2013Operations Resume at Zandfontein
11/14/2012Reports Results for the Three Months Ended September 30, 201...
8/29/2012No Work Stoppages at CRM Operations
8/14/2012Reports Results for the Three Months Ended June 30, 2012
7/6/2012Clarification of Disclosure on Company Website
5/14/2012Reports Results for the Three Months Ended March 31, 2012
3/6/2012Reports Results for the Quarter and Year Ended December 31, ...
1/3/2012US$100 Million Debt Facility Agreement Completed
12/19/2011on Eastplats Projects
10/25/2011Managing Director of Barplats Resigns
8/15/2011Reports Results For the Three Months Ended June 30, 2011
6/30/2011Eastplats Aware of Notice of Application
6/7/2011Annual General Meeting Proxy Deadline Extended
5/21/2011Adopts New Shareholder Rights Plan
5/12/2011Reports Results For The Three Months Ended March 31, 2011
8/14/2008Reports Record Earnings for the Quarter Ended June 30, 2008
3/22/2007ANNOUNCES TERMS OF OFFERING
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