Eastern Platinum Limited

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 17, 2015) - Eastern Platinum Limited (TSX:ELR)(JSE:JSE) ("Eastplats" or the "Company") announces that the TSX has accepted the Company's request for an extension to the holding of the 2015 Annual General Meeting ("AGM") provided that such AGM is held on or before September 11, 2015. The extension was requested by the Company as it was felt to be in the best interests of shareholders to postpone the AGM until following the completion of the initial transaction with Hebei Zhongbo Platinum Co. Limited ("Hebei Zhongbo") (as detailed in news releases dated November 7, 2014 and June 8, 2015) which completion was scheduled to occur on or before August 7, 2015. The Company has been advised by the Competition Commission in South Africa that it would require more time to review the details of the transaction with Hebei Zhongbo and has indicated that it would not be in a position to issue its approvals of the transaction until after August 12, 2015.

The Company is hopeful that it will receive the Competition Commission approvals and the Department of Mineral Resources approvals in time to complete the initial transaction with Hebei Zhongbo prior to its 2015 AGM.

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

Cautionary Statement Regarding Forward-Looking Information

This press release contains 'forward-looking information' within the meaning of Canadian securities legislation. Forward- looking information in this press release includes information about the completion and timing of the proposed transaction between Eastplats and Hebei Zhongbo. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those anticipated, including, the contemplated transaction not being completed as a result of a number of factors including, without limitation, required regulatory approvals not being obtained, and other risks and uncertainties. Readers should not place undue reliance on the forward-looking information contained in this news release. Eastplats does not undertake to update any forward-looking information, except as required by applicable securities laws.