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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/31/13 -- Eastern Platinum Limited (TSX: ELR)(AIM: ELR)(JSE: EPS) ("Eastplats") is pleased to update its annual reserve statement for the Crocodile River Mine located near Brits, Northwest Province, South Africa. The updated reserve reflects depletion and development work subsequent to the reserve statement in the Company's NI 43-101 compliant technical report which was published on SEDAR on December 20, 2010 and the Company's press release of May 17, 2012. The updated reserve is current as of December 31, 2012. The following factors apply:
-- 15% geological losses are included-- 15% pillar losses are included-- 5% mining loss is included-- Mining widths are 142 cm at Zandfontein and 146 cm at Maroelabult (Maroelabult was 142 cm in 2011)-- Dilution is included consistent with the mining widthProven and Probable Reserves----------------------------------------------------------------------------Section 2011 Reserve 2012 Reserve Update---------------------------------------------------------------------------- 4E 4E Pt Pd Rh AuProven Tonnes g/t Tonnes g/t g/t g/t g/t g/t 4E ounces----------------------------------------------------------------------------Zandfontein 1,246,000 4.17 1,554,000 4.17 2.61 1.09 0.43 0.03 208,000----------------------------------------------------------------------------Maroelabult 394,000 3.98 426,000 3.98 2.49 1.04 0.41 0.03 55,000----------------------------------------------------------------------------Subtotal 1,640,000 4.12 1,980,000 4.13 2.58 1.08 0.43 0.03 263,000----------------------------------------------------------------------------Probable----------------------------------------------------------------------------Zandfontein 18,673,000 4.17 17,569,000 4.17 2.61 1.09 0.43 0.03 2,355,000----------------------------------------------------------------------------Maroelabult 1,451,000 3.98 1,268,000 3.98 2.49 1.04 0.41 0.03 162,000----------------------------------------------------------------------------Crocette 3,530,000 3.78 3,530,000 3.78 2.18 0.78 0.35 0.02 429,000----------------------------------------------------------------------------Subtotal 23,654,000 4.10 22,367,000 4.10 2.54 1.05 0.42 0.03 2,947,000----------------------------------------------------------------------------Total 25,294,000 4.10 24,347,000 4.10 2.54 1.05 0.42 0.03 3,210,000----------------------------------------------------------------------------
At Maroelabult, 41,483m2 have been removed from the reserves as a result of the 2012 drilling program which provided for an improved interpretation of the displacement along the Kareespruit fault. Increases in Proven Reserves are due to development work through 2012 consistent with the current operating plan (see June 12, 2012 press release).
The qualified person having reviewed the reserves data and information presented in this press release is Mr. Brian Montpellier, P.Eng.
