Eastplats Reports Production Results for the Quarter Ended September 30, 2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2011) - Eastern Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR)(JSE:EPS) reports operating results from the Crocodile River Mine ("CRM") for the third quarter ended September 30, 2011.

Production statistics for the current quarter and historical quarters are as follows:

* Concentrator recovery has been rounded to the nearest percentage point.

Third quarter mining and production improved compared to the second quarter which was negatively impacted by labour issues related to the illegal underground sit-in followed by an unprotected strike in early May. Following the settlement of the labour issues in late May, operations at the Zandfontein section have steadily and safely returned to levels achieved in late 2010. At the Maroelabult section, 155 production workers were suspended in May following which JIC Mining was engaged on a fixed-term contract. Production build-up has progressed slower than anticipated as new crews were being integrated into the section throughout the third quarter.

Concentrator recovery improved in the third quarter compared to the second quarter during which disruptions to the steady state operation of the mine and processing plant due to the illegal sit-in contributed to lower concentrator recoveries. Head grade also improved compared to the second quarter as a result of the increase in tonnage from stoping.

Work at the 90,000 tonne-per-month Mareesburg/Kennedy's Vale open-pit and concentrator project on the Eastern Limb is progressing on schedule. Bulk earthworks commenced on site in July. The completion of the terracing for the concentrator pad is advancing well and the Company anticipates that concrete work will start in November. Much of the major mine and concentrator equipment is already in storage on site and the balance is on order. Eskom power has been connected to site and the main substation transformer has been shipped. Production start-up is on schedule for late 2012.

The qualified person having reviewed the operating results presented in this press release is Mr. Brian Montpellier, P.Eng.

Eastplats will release its full second quarter results on Monday, November 14, 2011.

Total shares issued and outstanding: 908,187,807

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 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.