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EASTERN PLATINUM LIMITED - Eastplats announces changes to the board of directors

2022/06/23 08:45:00

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                    Eastplats announces changes to the board of directors

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”)

June 23, 2022
Trading Symbol: ELR (TSX); EPS (JSE)

                                            NEWS RELEASE

               EASTPLATS ANNOUNCES CHANGES TO THE BOARD OF DIRECTORS

June 23, 2022, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the “Company”)
announces the Board of Directors of the Company (the “Board”) has accepted the respective resignations
submitted by Diana Hu and Michael Cosic, effective June 22, 2022, in accordance with the Company's
Majority Voting Policy (the 'Policy').

George Dorin, Chairman of the Company, stated “On behalf of Eastplats, I would like to thank Ms. Hu and
Mr. Cosic for their many insights and contributions to the Board over the last six years and we wish them
the very best. Ms. Hu will remain the CEO & President of Eastplats and we will continue to focus on guiding
the Company to restart Zandfontein underground mining in 2022.”

The Company is pleased to announce the appointments of Mr. Changyu (Charlie) Liu and Ms. Lisa Ng to
the Board, to fill the vacancies left by Ms. Hu and Mr. Cosic.

Mr. Liu is the Chairman of Ka An Development Co. Limited (“Ka An”), a long-term shareholder of Eastplats.
Mr. Liu’s career has been focused on business investments and international trade in China, Hong Kong,
and North America. After completing his studies in accounting at Tianjin University of Finance and
Economics in 1994, Mr. Liu started his career in the automobile sales and distribution sector. He was an
early partner and investor in renowned technology companies. A decade ago, Mr. Liu began following the
global mining industry. His current investments span across mining, automobile sales, banking, and
shipping industries. Mr. Liu brings over two decades of expertise in business investment and financing
enterprises. Ka An continues to be fully committed to ensuring the successful management and operation
of the Company.

Ms. Ng is an accomplished CPA (Chartered Professional Accountant) with an extensive financial
management background, including with several publicly traded mining companies. She has over 25 years
of experience in mining, information technology, biotech, insurance, in a wide range of business sectors
including the financial operations of multi-million dollar companies.

“On behalf of management, we are excited and welcome Mr. Liu and Ms. Ng to the Board,” commented
Ms. Hu. “This will result in the Board being completely independent from management and will provide the
Board with the insights, experiences and perspectives of a significant, long-term shareholder of the
Company. We are confident that we can work together to increase the value of Eastplats.”

For further information, please contact:
 EASTERN PLATINUM LIMITED
 Wylie Hui, Chief Financial Officer and 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 most recent
Annual Information Form available under the Company’s profile on www.sedar.com.

In particular, this press release contains, without limitation, forward-looking statements pertaining to: the
ability of the Company to restart Zandfontein underground mining, to do so in 2022, potential contributions
of Mr. Liu and Ms. Ng to the Board and any potential value of Eastplats. 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, unanticipated problems that may arise in the Company’s production processes, commodity
prices, lower than expected grades and quantities of resources, need for additional funding and availability
of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition
and regulations, legal proceedings and risks related to operations in foreign countries.

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.

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

JSE Sponsor
PSG Capital

Date: 23-06-2022 08:45:00
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