Eastplats Announces an Agreement with Union Goal Offshore Solution Limited to Construct, MINE, Process and Recover Chrome Concentrate from the Barplats Zandfontein UG2 Tailings Facility

1080 - 1188 West Georgia St.

Vancouver, BC Canada V6E 4A2

March 5, 2018

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

NEWS RELEASE

EASTPLATS ANNOUNCES AN AGREEMENT WITH UNION GOAL OFFSHORE SOLUTION

LIMITED TO CONSTRUCT, MINE, PROCESS AND RECOVER CHROME CONCENTRATE

FROM THE BARPLATS ZANDFONTEIN UG2 TAILINGS FACILITY

March 5, 2018, Vancouver, British Columbia – Eastern Platinum Limited (“ Eastplats ” or the “ Company ”)

and its subsidiary Barplats Mines (Pty) Limited (“ Barplats ”) are pleased to announce they have entered

into an agreement (the “ Agreement ”) with Union Goal Offshore Solution Limited (“ Union Goal ”). The

Agreement provides for the construction, mining and processing of the tailings resource, and the subsequent

offtake of chrome concentrate from, the Barplats Za ndfontein UG2 tailings facility (“ Retreatment

Project ”) located at the Crocodile River Mine in South Afr ica.

Union Goal will finance and supply to Barplats the chrome processing circuit, related technology and

knowhow (the “ Chrome Circuit ”) while Barplats will develop, mine and operate the Retreatment Project.

The Chrome Circuit is designed to improve on recove ries of chrome concentrate compared to traditional

technology which could expand available resources f or mining and processing. The estimated capital

requirements for Barplats are R164 (US $14.0) million which are expected to be funded from cash on hand,

the upfront project payment from Union Goal described below and revenue from the Retreatment Project.

The parties have pre-sourced equipment and the cons truction phase is estimated to be seven-months.

Eastplats anticipates the Retreatment Project will result in revenue producing operations, through off take

of the chrome concentrates produced to Union Goal, when production commences during 2018.

Highlights

The Agreement provides, amongst other matters, for the following:

an upfront payment of R42.2 (US $3.6) million payable to Barplats from Union Goal;

Barplats will recover the Retreatment Project capital from Union Goal during operations at a rate of

R25 (US$2.14) /ROM per ton;

Barplats will deliver all the chrome concentrate to Union Goal from the Retreatment Project based

on full cost recovery from Union Goal of all operat ion costs for the mining, processing, deposition

and logistics;

Union Goal shall additionally pay Barplats fees of R31.17 (US$2.66)/ROM per ton treated; and

deferred payment terms for the Chrome Circuit of up to 33 months subject to a Barplats put and

Union Goal call option for the re-purchase of the C hrome Circuit by Union Goal in the event either

party is not satisfied with the agreed pricing for the Chrome Circuit once its operational capacity is

established.

Diana Hu, CEO of the Company commented “Eastplats is very pleased to come to an agreement with Union

Goal and begin construction immediately on the chro me recovery project which will again establish

Barplats as an operator.”

Union Goal’s business partners include major direct mine operators and traders of chrome ores and

concentres. Union Goal also deals directly with dow nstream consumers through trading, direct and

technological investments into ferro-chrome produce rs and has other interests directly with the stainl ess-

steel industry. Union Goal has been in business for 15 years and has traded more than one million tons of

chrome ores and concentrates on average during the past four years with average annual sales reaching

approximately US$200 million.

For further information, please contact:

EASTERN PLATINUM LIMITED

Rowland Wallenius, Chief Financial Officer

[email protected] (email)

(604) 800 -8200 (phone)

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statem ents” or “forward-looking information” (collectivel y referred to herein as

“ forward-looking statements ”) within the meaning of applicable securities legislation. Such forward-looking statements include,

without limitation, forecasts, estimates, expectati ons and objectives for future operations that are s ubject to a number of

assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-lo oking statements are

statements that are not historical facts and are ge nerally, but not always, identified by the words “w ill”, “plan”, “intends”, “may”,

“will”, “could”, “expects”, “anticipates” and simil ar expressions. Further disclosure of the risks and uncertainties facing the

Company and other forward-looking statements are di scussed in the Company’s Annual Information Form an d 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: extension of the life of the Retreatment Project,

estimated costs and timelines of construction, estimated operations, capital cost and payment terms related to the Chrome Circuit,

estimated timelines for revenue production and anti cipated capital needs. These forward-looking statem ents 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 relia nce on these statements as a

number of factors could cause actual results to dif fer materially from the beliefs, plans, objectives, expectations, estimates and

intentions expressed in such forward-looking statem ents. These factors include, but are not limited t o, commodity prices, lower

than expected grades and quantities of resources, n eed for additional funding, availability of such ad ditional funding and that

funding will be on acceptable terms, economic condi tions, currency fluctuations, competition and regul ations, legal proceedings

and risks related to operations in foreign countries.

The forward-looking statements in this press releas e are made as of the date they are given and, excep t as required by applicable

securities laws, the Company disclaims any intentio n or obligation to publicly update or revise any fo rward-looking statements,

whether as a result of new information, future events or otherwise.

No stock exchange, securities commission or other r egulatory authority has approved or disapproved the

information contained herein.

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