Miscellaneous medium priority announcements
October 20 2011 - 7:00AM
UK Regulatory
TIDMELR
Miscellaneous medium priority announcements
TSX, AIM SYMBOL: ELR
JSE SYMBOL: EPS
October 20, 2011
Eastern Platinum Limited: NUM Strike at JIC Impacts CRM Operations
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 20, 2011) - Eastern Platinum
Limited (TSX:ELR)(AIM:ELR)(JSE:EPS) ("Eastplats" or the "Company") reports
that talks between JIC Mining Services ("JIC") and the National Union of
Mineworkers ("NUM") have not resulted in agreement between the parties. JIC is
one of the largest mining contractors in South Africa and, along with other
companies, provides selected contract mining services at the Crocodile River
Mine ("CRM"). The employees of JIC have taken strike action and as a result,
756 JIC employees working at CRM have joined the strike, which is peaceful.
While the strike action continues, production at CRM will be reduced by
approximately 50%, or approximately 210 ounces of PGM production per working
day. Eastplats understands that JIC and NUM are continuing to negotiate on the
unresolved issues. The Company is not involved in this dispute, but will
provide appropriate updates on the situation.
Total shares issued and outstanding: 908,187,807
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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Eastern Platinum Limited
Investor Relations
+1-(604)-685-6851
+1-(604)-685-6493 (FAX)
info@eastplats.com
www.eastplats.com
OR
NOMAD:
Canaccord Genuity Limited, London
Bhavesh Patel
+44 20 7050 6500
OR
JSE SPONSOR:
PSG Capital (Pty) Limited
Johan Fourie
+27 21 887 9602
johanf@psgcapital.com
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
Eastern Platinum Limited
Eastern Plat (LSE:ELR)
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