EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR ISIN: CA2768555096
Share Code JSE: EPS ISIN: CA2768555096
(“Eastplats” or the “Company”)

Trading Symbol: ELR (TSX); EPS (JSE)

                                      NEWS RELEASE

    EASTERN PLATINUM LIMITED ANNOUNCES EXTENSION OF EXPIRY DATE FOR
                               WARRANTS

June 8, 2023, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the
“Company”) announces that it has received conditional acceptance from the Toronto Stock
Exchange to extend the expiry date of 5,960,000 of its outstanding unlisted common share
purchase warrants (the “Warrants”) originally issued on June 26, 2020, in conjunction with the
previously disclosed settlement agreement with AlphaGlobal Capital Inc. For further information
concerning the original issuance of the Warrants, please refer to the press release of the
Company dated June 26, 2020.

Each Warrant currently entitles the holder to purchase one common share at a price of CDN$0.24
per common share at any time up to 5:00 p.m. local time in Vancouver, British Columbia on June
26, 2023 (the “Expiry Date”). Effective on June 26, 2023, the Company will extend Expiry Date
to June 26, 2024. All of the other warrant terms remain unchanged.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of
South Africa. All of the Company’s properties are situated on the western limb (Crocodile River
Mine) and eastern limb (Kennedy’s Vale, Spitzkop Mareesburg) of the Bushveld Complex, the
geological environment that hosts approximately 80% of the world’s PGM-bearing ore.

Operations at the Crocodile River Mine currently include re-mining and processing its tailings
resource to produce PGM and chrome concentrates from the Barplats Zandfontein tailings dam.

For further information, please contact:
EASTERN PLATINUM LIMITED
Wylie Hui, Chief Financial Officer & Corporate Secretary
whui@eastplats.com (email)
(604) 800-8200 (phone)

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” or “forward-looking information”
(collectively referred to herein as “forward-looking statements”) within the meaning of
applicable securities legislation. Such forward-looking statements include, without limitation,
forecasts, estimates, expectations and objectives for future operations that are subject to a
number of assumptions, risks and uncertainties, many of which are beyond the control of the
Company. Forward-looking statements are statements that are not historical facts and are
generally, but not always, identified by the words “will,” “plan,” “intends,” “may,” “could,” “expects,”
“anticipates” and similar expressions. Further disclosure of the risks and uncertainties facing the
Company and other forward-looking statements are discussed in the Company’s Annual
Information Form and Management’s Discussion and Analysis which are available under the
Company’s profile on www.sedar.com.

In particular, this press release contains forward-looking statements pertaining to: the extension
of the expiry date of the Warrants. These forward-looking statements are based on assumptions
made by and information currently available to the Company. Although management considers
these assumptions to be reasonable based on information currently available to it, they may prove
to be incorrect. By their very nature, forward-looking statements involve inherent risks and
uncertainties and readers are cautioned not to place undue reliance on these statements as a
number of factors could cause actual results to differ materially from the beliefs, plans, objectives,
expectations, estimates and intentions expressed in such forward-looking statements. These
factors include, but are not limited to, commodity prices, lower than expected grades and
quantities of resources, need for additional funding, availability of such additional funding and that
funding will be on acceptable terms, economic conditions, currency fluctuations, competition and
regulations, legal proceedings and risks related to operations in foreign countries.

The forward-looking statements in this press release are made as of the date they are given and,
except as required by applicable securities laws, the Company disclaims any intention or
obligation to publicly update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

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

The Company has a primary listing on the Toronto Stock Exchange and a secondary listing on
the JSE Limited.

8 June 2023

JSE Sponsor
PSG Capital