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 UPDATE ON SPECIAL COMMITTEE
                             INVESTIGATIONS

June 20, 2023, Vancouver, British Columbia - Eastern Platinum Limited ("Eastplats" or the
"Company") announces that, further to its news releases dated April 24, 2023 and May 12, 2023,
it has formed a special committee (the “Committee”) consisting of two independent directors,
George Graham Dorin and Xin (Alex) Guan. The Committee has commenced, together with
independent special counsel retained by the Committee, an investigation and review of certain
unproven whistleblower allegations, including allegations of undisclosed related party
transactions pertaining to the sale of chrome concentrate at discounted prices.

The Committee’s investigation is well underway with information and documents obtained from
management and interviews conducted with the CEO and CFO, respectively. Further, the
Committee is engaging an e-discovery specialist to conduct a document discovery of the
Company’s servers to ensure that the Committee may review all relevant documents. Once this
process is in place, the Committee will assess next steps.

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, the
investigation of the Committee and the engagement of an expert to conduct a document
discovery. 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.

All forward-looking statements in this press release are expressly qualified in their entirety by this
cautionary statement, the “Cautionary Statement on Forward-Looking Information” section
contained in the Company’s most recent Management’s Discussion and Analysis available under
the Company’s profile on www.sedar.com. 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, and does not undertake, to 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE
SERVICES

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

20 June 2023

JSE Sponsor
PSG Capital