ELR Eastern Plat

 
TIDMELR 
 
3rd Quarter Results 
FOR:  EASTERN PLATINUM LIMITED 
 
TSX, AIM SYMBOL:  ELR 
JSE SYMBOL:  EPS 
 
November 12, 2009 
 
Eastern Platinum Reports Results for the Three Months Ended September 30, 2009 
 
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2009) - Mr. Ian Rozier, President and CEO of Eastern 
Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR)(JSE:EPS) is pleased to report financial results for the three 
months ended September 30, 2009. 
 
Highlights for the quarter ended September 30, 2009 ("Q3 2009") 
 
- The Crocodile River Mine ("CRM") reached two million fatality-free shifts in September. 
 
- The Company's Lost Time Injury Frequency Rate (LTIFR) was 1.69 this quarter compared to 3.02 in the third 
quarter of 2008 ("Q3 2008"). 
 
- Eastplats recorded a net profit attributable to equity shareholders of the Company of $1,839,000 ($0.00 per 
share) compared to a net loss attributable to equity shareholders of $10,829,000 ($0.02 loss per share) in Q3 
2008. 
 
- Production at CRM was 29,986 PGM ounces compared to 30,758 PGM ounces in Q3 2008, despite the industrial 
action by contract mining company's workers in July. 
 
- EBITDA was $4,971,000 compared to negative EBITDA of $11,405,000 in Q3 2008. 
 
- The average delivered basket price per PGM ounce was $765, a decrease of 36% compared to $1,193 in Q3 2008. 
 
- Operating cash costs net of by-product credits were $583 per ounce, a 12% increase from $521 per ounce 
achieved in Q3 2008 as a result of the industrial action in July. Operating cash costs were $758 per ounce, an 
increase of 13% compared to $672 per ounce in Q3 2008. 
 
- Rand operating cash costs net of by-product credits were R4,548 per ounce, an increase of 12% compared to 
R4,055 per ounce in Q3 2008. Rand operating cash costs were R5,915 per ounce, an increase of 13% compared to 
R5,233 per ounce in Q3 2008. 
 
- Head grade increased to 4.1 grams per tonne in Q3 2009 from 4.0 grams per tonne in Q3 2008, and average 
concentrator recovery remained unchanged at 78%. 
 
- Development meters decreased by 49% to 2,882 meters and on-reef development decreased by 56% to 1,562 meters 
compared to Q3 2008, partly due to the industrial action in July, and partly due to the planned reduction in 
reserve development that was initiated in November 2008. 
 
- Stoping units decreased by 9% to 36,263 square meters and run-of-mine ore hoisted decreased by 23% to 244,959 
tonnes compared to the same quarter in 2008 as a result of the industrial action in July. 
 
- Run-of-mine ore processed decreased by 8% to 280,777 tonnes in Q3 2009 from 305,490 tonnes in Q3 2008, also 
as a result of the industrial action in July. 
 
- At September 30, 2009, the Company had a cash position (including cash, cash equivalents and short term 
investments) of $22,906,000, compared to $21,920,000 at June 30, 2009. 
 
Underground mining activities and production were significantly interrupted during the quarter as a result of 
the illegal industrial action in July. Development meters, on-reef development meters, and stoping units 
decreased by 33%, 45% and 29% respectively compared to the quarter ended June 30, 2009 ("Q2 2009"). However, 
the decrease in run-of-mine ore processed was limited to 8% and the decrease in PGM ounces sold was limited to 
10% due to the processing of 35,000 tonnes of surface ore stockpiles which had accumulated as at June 30, 2009. 
 
The decrease in production ounces and production efficiencies led to a 37% increase in operating cash costs per 
ounce from $554 per ounce in Q2 2009 to $758 per ounce in Q3 2009. Other factors contributing to this increase 
was a 10% rise in wages effective July 1, 2009 and a 30% rise in electricity costs. An 8% weakening of the U.S. 
dollar from R8.44:$1.00 in Q2 2009 to R7.80:$1.00 in Q3 2009 also contributed to the increase in operating cash 
costs, which are incurred primarily in Rand. 
 
Revenues were 10% higher compared to Q2 2009 as a result of a 13% rise in the average delivered basket price 
per PGM ounce, which also contributed to positive provisional price adjustments for the current quarter, and an 
increase in chrome production and sales. 
 
"We are pleased to report three consecutive quarters of profit in 2009 during what has been a very difficult 
period for the sector that has seen the global economic downturn, exchange rate and metal price volatility, and 
an industrial strike action at CRM and throughout South Africa. We will continue to focus on safety and on 
lowering our cost structure at CRM and we are moving forward on our other projects such that they will be 
'ready to go' as economic conditions continue to improve," said Ian Rozier. 
 
The qualified person having reviewed the operating disclosures presented in this press release is Mr. Brian 
Montpellier, V.P. Project Development, P. Eng. 
 
Financial Information 
 
For complete details of financial results, please refer to the unaudited condensed consolidated financial 
statements and accompanying Management's Discussion and Analysis ("MD&A") for the three and nine months ended 
September 30, 2009. These financial statements and MD&A, and the comparative financial statements for the three 
and nine months ended September 30, 2008 are all available on SEDAR at www.sedar.com and on the Company's 
website www.eastplats.com. 
 
Teleconference call details 
 
Eastplats will host a telephone conference call on Thursday, November 12, 2009 at 11:00 am Pacific (2:00 pm 
Eastern) to discuss these results. The conference call may be accessed by dialing 1-800-319-4610 in Canada and 
the United States, or 1-604-638-5340 internationally. 
 
The conference call will be archived for later playback until Thursday, November 19, 2009 and can be accessed 
by dialing 1-604-638-9010 or 1-800-319-6413 and using the pass code 4219 followed by the number sign (#). 
 
Total shares issued and outstanding - 680,570,958 
 
To view September 30, 2009 financials please click on the following link: 
http://media3.marketwire.com/docs/elrfin093009.pdf 
 
To view September 30, 2009 MD&A please click on the following link: 
http://media3.marketwire.com/docs/elrmda093009.pdf 
 
Cautionary Statement on Forward-Looking Information 
 
This press release, which contains certain forward-looking statements, is intended to provide readers with a 
reasonable basis for assessing the financial performance of the Company. All statements, other than statements 
of historical fact, are forward-looking statements. The words "believe", "expect", "anticipate", "contemplate", 
"target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar 
expressions identify forward looking statements. Forward-looking statements are necessarily based upon a number 
of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to 
significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could 
cause actual results to differ materially from those projected in the forward-looking statements. Such factors 
include, but are not limited to, fluctuations in the currency markets such as Canadian dollar, South African 
Rand and U.S. dollar, fluctuations in the prices of PGM and other commodities, changes in government 
legislation, taxation, controls, regulations and political or economic developments in Canada, the United 
States, South Africa, or Barbados or other countries in which the Company carries or may carry on business in 
the future, risks associated with mining or development activities, the speculative nature of exploration and 
development, including the risk of obtaining necessary licenses and permits, and quantities or grades of 
reserves. Many of these uncertainties and contingencies can affect the Company's actual results and could cause 
actual results to differ materially from those expressed or implied in any forward-looking statements made by, 
or on behalf of, the Company. Readers are cautioned that forward-looking statements are not guarantees of 
future performance. There can be no assurance that such statements will prove to be accurate and actual results 
and future events could differ materially from those acknowledged in such statements. Specific reference is 
made to the Company's most recent Annual Information Form on file with Canadian provincial securities 
regulatory authorities for a discussion of some of the factors underlying forward-looking statements. 
 
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. 
 
 
 
-30- 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Eastern Platinum Limited 
Ian Rozier 
President & C.E.O. 
+1-604-685-6851 
+1-604-685-6493 (FAX) 
info@eastplats.com 
www.eastplats.com 
 
OR 
 
NOMAD - Canaccord Adams Limited 
Ryan Gaffney 
+44 20 7050 6500 
Ryan.Gaffney@CanaccordAdams.com 
 
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 
 

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