ELR Eastern Plat

    FOR:  EASTERN PLATINUM LIMITED

TSX, AIM SYMBOL:  ELR

May 8, 2007

Eastern Platinum Limited: 600,000 oz pa PGM Capacity Upgrade Proposed for Crocodile River Smelter in South
Africa

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 8, 2007) - Mr. Ian Rozier, President and CEO of Eastern
Platinum Limited (the "Company") (TSX:ELR)(AIM:ELR) and Chairman of Barplats Investment Limited ("Barplats"),
is pleased to report on the Company's plans for the re-commissioning and upgrade options for the existing
smelter complex at the Crocodile River Mine ("CRM") in South Africa. The proposed upgrade options under
consideration would result in the CRM smelter producing up to 600,000 ounces per annum platinum group metals
("PGM") in matte.

Prior to the Company's investment in Barplats in April 2006, Pyromet Smelting Technology and Equipment
("Pyromet") had been commissioned by Barplats to evaluate various options in order to get the CRM smelter back
into operation. Subsequent to the Company's investment in Barplats, emphasis at CRM has been placed on
underground mine development, on-reef development and production, improved ore handling by means of an
underground to surface conveyor, increased recoveries from the processing plant, and the construction of a
tailings re-treatment plant. With the projected increased demand for PGM and the resulting need for increased
PGM smelter capacity in South Africa in particular, the CRM smelter represents an excellent opportunity to
expand the Company's operations into this sector of the PGM business, and the Company intends to follow through
on this opportunity.

The Pyromet study provided Barplats with three options to develop a suitable entry-level strategy into
producing PGM matte. The conclusions of the study are summarized as follows;

- That the existing smelter structure, tanks, shells and equipment were in relatively good condition and should
be re-useable after some refurbishment.

- That the high voltage electrical system was assumed to be operational so only replacement of the low voltage
equipment is considered necessary.

- That the Motor Control Centre (MCC) rooms are in good condition and can be re-used.

- That the instrumentation and PLC systems are outdated and will need to be replaced by a more modern system.

- That certain replacement and/or refurbishment of equipment was required and whenever equipment condition
could not be established, replacement or refurbishment prices were given.

The three options recommended by Pyromet are as follows;

Option 1 - Refurbish the existing system of 7.4MW capacity by refurbishing the existing equipment and
infrastructure to operate two furnaces only. This option would treat approximately 4030 tonne per month
concentrate at a 'feedstock' concentrate grade of between 150-180 g/t 5PGE+Au

Option 2 - Phased approach to upgrading to a 20MW capacity by first refurbishing the existing two 3.7MW
furnaces:

Phase 1: Commission the system for a power usage of 7.4MW and provide infrastructure for both phases.

Phase 2: Commission the additional 14MW to achieve a total 20MW capacity.

Option 3 - Phased approach to upgrading to a 20MW capacity by first installing the 14MW furnace.

Phase 1: Commission the 14MW furnace and auxiliary infrastructure.

Phase 2: Commission an additional 7.4MW system to achieve a 20MW capacity.

Options B and C would treat approximately 9,050 tonne per month concentrate at the same 'feedstock' concentrate
grade.

Only Options 2 and 3 are considered suitable for the Company's requirements. The Pyromet estimated costs in
2006 for both Options 2 and 3 were approximately ZAR425Million (Cdn$70M). The anticipated 'build-up' period for
Options 2 and 3 are two years to achieve Phase 1 (to achieve 250,000 - 300,000 opa) and three to four years to
complete Phase 2 (500,000-600,000 opa).

Both Options 2 and 3 would result in a smelter capacity sufficient to produce between 500,000 and 600,000
ounces annually of PGM in matte. With the increase in metal prices and anticipated future demand for additional
PGM smelting capacity in South Africa, the Company proposes to commission an updated option analysis in order
to determine if this capacity is still sufficient.

South Africa currently has only three large scale PGM smelter facilities, owned by Amplats, Impala and Lonmin,
with a fourth smaller facility owned by Northam. A recent report on global platinum stocks by RBC Capital
Markets ("RBCCM") highlighted the "investor-critical issue of bottlenecking smelter and refining capacity in
the global PGM sector," and RBCCM commented that, "there is a strategic opportunity for the establishment of an
independent UG2 targeted PGM smelter in South Africa to cater for new supply." RBCCM describe two possible
routes where the shortage of PGM smelting capacity in South Africa could be resolved independently of existing
smelter operations. First,"as a joint venture by a consortium of junior platinum producers. Second,
establishment of a UG2-targeted facility by a 'new entrant' to the PGM industry."

Stated Ian Rozier, President and CEO of the Company, "In light of the projected future demand for smelter
capacity the CRM smelter provides the Company with first mover advantage and places it in an extremely good
position to be able to expand our interests in South Africa's PGM sector; its re-commissioning would be a
significant event in the ongoing growth of the Company."

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 & CEO
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: www.eastplats.com

OR

NOMAD: Canaccord Adams Limited, London
+44 20 7050 6752
Email: Robin.Birchall@canaccordadams.com or
Email: Clayton.Bush@canaccordadams.com

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Eastern Platinum Limited



                                                                

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