Barplats Investments Limited Shareholders Reject Share Sale

1080 - 1188 West Georgia St.

Vancouver, BC Canada V6E 4A2

February 6, 2017

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

NEWS RELEASE

BARPLATS INVESTMENTS LIMITED SHAREHOLDERS REJECT SHARE SALE

February 6, 2017, Vancouver, British Columbia – Eastern Platinum Limited (“ Eastplats” or the “ Company”)

announces that the shareholders of Barplats Investments Limited (BIL), in which Eastplats holds shares through a

subsidiary of the Company, at a meeting held February 3, 2017 rejected a special resolution submitted to the

meeting seeking approval of the sale of the shares of BIL’s subsidiary, Barplats Mines Limited (which holds the

Crocodile River Mine) to Hebei Zhongheng Tianda Platinum Co. Limited (HZT) pursuant to the Share Purchase

Agreement dated June 28, 2016 (SPA) entered into by the former management of the Company. The Company will

be reporting further on the implications of the vote on the SPA and the outstanding lawsuit commenced by HZT.

For further information, please contact:

EASTERN PLATINUM LIMITED

Diana Hu, President and Chief Executive Officer

[email protected] (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 ”) wit hin 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 nu mber 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.

In particular, this press release contains forward -looking statements pertaining to: the effect of the special resolution on the

business of Eastplats, the S PA and the lawsuit initiated by HZT. 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 t o 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, comp etition 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.

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