Eastplats Announces Finalization of the Conditions Precedent of the Union Goal Offshore Solution Limited Framework Agreement Regarding the Construction, Mining, Processing and Subsequent Recovery of Chrome Concentrate from the Barplats Zandfontein UG2
1080 - 1188 West Georgia St.
Vancouver, BC Canada V6E 4A2
September 4, 2018
Trading Symbol: ELR (TSX); EPS (JSE)
NEWS RELEASE
EASTPLATS ANNOUNCES FINALIZATION OF THE CONDITIONS PRECEDENT OF THE
UNION GOAL OFFSHORE SOLUTION LIMITED FRAMEWORK AGREEMENT
REGARDING THE CONSTRUCTION, MINING, PROCESSING AND SUBSEQUENT
RECOVERY OF CHROME CONCENTRATE FROM THE BARPLATS ZANDFONTEIN UG2
TAILINGS FACILITY
September 4, 2018, Vancouver, British Columbia – Ea stern Platinum Limited (“ Eastplats ” or the
“ Company ”) and its subsidiary Barplats Mines (Pty) Limited (“ Barplats ”) are pleased to announce they
have satisfied all the conditions precedent regardi ng the Framework Agreement (See News Release of
March 5, 2018) with Union Goal Offshore Solution Limited (“ Union Goal ”). The Framework Agreement
provides for the construction, mining and processing of the tailings resource, and the subsequent offtake of
chrome concentrate from, the Barplats Zandfontein UG2 tailings facility (“ Retreatment Project ”) located
at the Crocodile River Mine in South Africa.
The conditions precedent included amongst other agr eed requirements, the securing of the now non-
refundable upfront payment of ZAR 42.2 million paid to Barplats and the signing of the:
• Offtake Agreement;
• Equipment and Chrome Plant Agreement;
• Escrow Agreement; and
• Loan Agreement.
The Company continues the construction phase of the Retreatment Project with the expected completion
date estimated at the end of Q3 2018 followed immediately by commissioning.
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: operation of the Framework, Offtake,
Equipment and Chrome Plant, Escrow and Loan Agreeme nts, estimated timelines of construction and estima ted
operations. These forward-looking statements are based on assumptions made by and information currently available to
the Company. Although management considers these a ssumptions to be reasonable based on information cu rrently
available to it, they may prove to be incorrect. B y their very nature, forward-looking statements inv olve 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. Thes e factors include, but are not limited to, commodit y prices, lower
than expected grades and quantities of resources, need for additional funding, availability of such additional funding and
that funding will be on acceptable terms, economic conditions, currency fluctuations, competition and regulations, 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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