ELR Eastern Plat

    FOR:  EASTERN PLATINUM LIMITED

TSX, AIM SYMBOL:  ELR

January 16, 2007

Eastern Platinum Limited: Existing 500m Vertical Shaft at Crocodile River Mine to Be Commissioned

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 16, 2007) - Mr. Ian Rozier, President and CEO of
Eastern Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR), is pleased to report on recent developments
at the Crocodile River Mine ("CRM") in South Africa. CRM is owned by Barplats Investments Limited
("Barplats") in which Eastplats owns a 69% indirect interest.

Equipping of the existing 500m deep vertical shaft, at a cost of R150million, has commenced at the
Zandfontein section of the Crocodile River Mine. Following safety, technical and financial evaluations
in 2006, the vertical shaft option is considered to be the most effective method to access the deeper
portions of the Zandfontein Section at CRM. The shaft will be commissioned by March 2008 and will
support a production level of 120,000 tonnes per month. Murray and Roberts Cementation have been
contracted to do the work which will create approximately a further 100 jobs at the mine.

This shaft was sunk almost twenty years ago, is in excellent condition, and its rapid utilization will
result in the fast-tracking of the proposed mine expansion and plans to increase production at CRM.
Furthermore, in order to fast track the equipping of the shaft, one of the dormant headgears from
Barplats' Kennedy's Vale property is being re-erected at CRM.

"The utilization of the vertical shaft and the availability of the headgear from Kennedy's Vale will
enable us to fast track the proposed mine expansion," stated Ian Rozier, who is also chairman of
Barplats.

"We are more effectively using previously written-off assets in order to increase production, and to
ensure long term operational efficiency at CRM," he said.

Photos showing dismantling of headgear at Kennedy's Vale can be found on the Company's website.

Eastern Platinum Limited trades on the TSX and AIM Stock Exchanges under the trading symbol ELR.

The qualified person having prepared the contents of this news release is Mr. Ian Rozier, B.Sc.(Hons),
M.Sc., P.Eng.

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 Barplats 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.



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FOR FURTHER INFORMATION PLEASE CONTACT:

Eastern Platinum Limited
Mr. Ian Rozier, M.Sc., P. Eng.
President & C.E.O.
(604) 685-6851
(604) 685-6493 (FAX)
Website: www.eastplats.com


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Eastern Platinum Limited



                                                                

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