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 STOCK OPTION GRANTS AND
                   RESTATEMENT OF FIRST QUARTER MD&A


June 22, 2023 Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the
“Company”) announces that it has granted 3,800,000 stock options to directors, officers, and
employees of the Company that vest in 90 days. The options were granted for a term of five years
and expire on June 21, 2028. Each option allows the holder to purchase one common share of
Eastplats at an exercise price of CDN$0.10.

The Company further announces that it is filing an Amended Management’s Discussion and
Analysis (“MD&A”) for the three months ended March 31, 2023 to reflect the following change:

Page 10 of the MD&A has been updated to correct “Total Tailings Feed (Tons)” for Q1 2023,
which has been revised from 432,005 to 631,954 as the original number excluded 199,949 tons
processed in March of 2023. No other changes were made to the MD&A and the first quarter
financial statements were not impacted.

The previously filed MD&A was originally filed by the Company on SEDAR on May 12, 2023. This
restated MD&A replaces and supersedes the previously filed MD&A and has been filed on
SEDAR and also on the Company’s website at www.eastplats.com/investors/.

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of platinum group metal (“PGM”) and chrome
assets in the Republic of South Africa. All of the Company’s properties are situated on the western
and eastern limbs 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”, “will”, “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 vesting and
expiry of options issued by the Company. 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, 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.

22 June 2023

JSE Sponsor
PSG Capital