VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- Mr. Ian
Rozier, President and CEO of Eastern Platinum Limited ("Eastplats")
(TSX: ELR)(AIM: ELR)(JSE: EPS), is pleased to report on the results
from the third and fourth batches of assay results received from the
infill drilling programme at the Spitskop platinum group metals
("PGM") project in South Africa that include assay results from the
Merensky Reef. Spitskop, located near Steelpoort in Mpumalanga
Province, is a high grade, platinum and rhodium rich, shallow
dipping, surface accessible PGM deposit with a Measured Resource in
the UG2 Reef, and an Indicated Resource in the Merensky Reef as
previously reported.

Confirmatory drilling has been conducted across the property
primarily to further evaluate the grade, reef continuity, dip and
content of individual platinum group elements in the UG2 Reef. The
results of the first batch of assay results from twenty-four UG2 Reef
intersections were reported in a news release dated November 8th,
2006, and assay results from sixty-seven UG2 Reef intersections were
reported on January 30th, 2007. The third and fourth batch of results
from the UG2 were reported on May 16, 2007. Thirty-three holes of the
most recent drilling programme were drilled to intersect the Merensky
Reef and the assay results from fifty-eight Merensky Reef
intersections from these holes are shown in Table 1. The results are
summarized as follows:

- The drilling and assay results from the Merensky Reef confirm the
continuity of this reef across Spitzkop and that the average grades
over the full Merensky Reef section are consistent with previous work
conducted by Impala Platinum and reported by Eastplats.

- The recent assay results confirm that the PGM grades in the
Merensky are consistent with previous work reported by Eastplats and
Impala Platinum, as well as the platinum rich (59%) nature, of the
Merensky at Spitskop.

- The average weighted average grade of the full Merensky Reef
section from the recent drilling and assay results is 2.43 g/t, and
the average intersected reef width is 3.21m.

- Although the Merensky reef has a lower average grade than the UG2
Reef, the Merensky is considerably thicker, with an average
intersected full reef width of 3.21m in the recent drilling.

Stated Ian Rozier, President and CEO of Eastern Platinum Limited,
"These results are important in that they greatly increase our
confidence in the overall continuity of the Merensky Reef across
Spitskop as well as confirming its high platinum content; at current
metal prices an average grade of 2.4 g/t over 3.2m becomes extremely
interesting."

As part of the ongoing feasibility study for Spitskop, the objectives
of the infill drilling program were to;
- Confirm the continuity of the UG2 Reef;
- Confirm general high PGM grade of the UG2 Reef across the property;
- Confirm the high platinum and rhodium grades in the UG2;
- Evaluate reef thickness, grade and continuity of the Merensky Reef;
- Provide core samples for metallurgical and rock mechanics testing.

Drilling was conducted by Geosearch, a division Transbor (Pty) Ltd.
On site geological work and supervision was carried out by MSA
Geoservices under the direction of Davminex Mineral Consultants (Pty)
Ltd. Assaying was conducted by Set Point Laboratories, S.A.

The data generated from the 2006/7 drill progamme will be used for
mine planning for the Northern Block at Spitskop where the UG2 Reef
outcrops on surface and extends to a depth of 350m at a dip of
between 11 degrees and 14 degrees, and for longer term mine planning
for the deeper sections in the UG2 reef and for mining the Merensky
reef.

With respect to the Merensky Reef, the objective in drilling was to
obtain two reef intersections from each hole, one from the motherhole
and one from a deflection hole, with the core from both intersections
being sampled and sent for assaying. This was achieved in all but six
of the thirty-three drillholes that intersected the Merensky.

The assay results for the Merensky are reported on a 4 ELEMENT basis
("4E"), with average mineral content of individual PGM elements or
"prill splits" being expressed in percentage terms. For purposes of
clarity, all the holes drilled are reported and if no sampling or
assaying was undertaken the reasons are provided.

Summary of drill/assay results from Merensky are appended to this
news release in Table 1. With reference to the reported results, the
following should be noted;

- Merensky Reef widths are "intersected" widths.
- All holes are vertical.
- The Merensky Reef at Spitskop dips between 11 degrees and 14
degrees.
- Table 1 reports assay results over the full section of Reef.
- The average metal contribution or 'prill splits' for the Merensky
Reef intersections are; Pt 59%; Pd 30%; Rh 3.2%; and Au 7.5%.

Spitskop is envisaged to start as a decline mining operation that
will exploit high grade PGM resources in the UG2 reef at relatively
shallow depth without the requirement for high capital cost shaft
mine infrastructure. Spitskop is situated updip of, and adjacent to,
the Kennedy's Vale project owned by Barplats Investments Limited
("Barplats"), in which Eastplats owns a 74% indirect interest, with
transactions pending to increase this to 85%. Kennedy's Vale and the
deeper sections of both properties could utilize the twin vertical
shafts that already exist at Kennedy's Vale. This infrastructure
would result in a significant reduction in capital costs for the
development of deeper sections at Spitskop.

Eastern Platinum Limited trades on the TSX and AIM Stock Exchanges
under the trading symbol ELR and on the JSE in South Africa under the
trading symbol EPS.

The qualified person having prepared the contents of this news
release is Mr. Ian Rozier, B.Sc.(Hons), M.Sc., P.Eng.

Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable Canadian securities
legislation. These forward-looking statements are based on certain
assumptions by Eastplats and Barplats and as such are not a guarantee
of future performance. Actual results could differ materially from
those expressed or implied in such forward-looking statements due to
factors such as general economic and market conditions, increased
costs of production and a decline in metal prices. Eastplats is under
no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable laws.

S&P/TSX Composite Index


TABLE 1
SUMMARY OF DRILL/ASSAY DATA - MERENSKY

Hole Depth to Top Av. Grade Intersected Reef
Number of Merensky Reef 4E(g/t) Thickness (m)
------ ---------------- --------- ----------------

SP10 261.39 3.20 2.44
SP10U7 258.31 4.92 2.19
SP18U4 225.55 1.91 3.35
SP18U6 225.14 1.68 3.98
SP19 176.44 0.94 2.99
SP19U5 176.29 1.15 3.34
SP22 215.81 2.00 9.61
SP22U4 215.66 1.89 8.32
SP25 234.97 5.39 2.47
SP25U2 233.21 1.75 4.20
SP27 108.04 3.59 2.68
SP27U5 107.98 1.65 2.82
SP31 60.83 2.02 3.02
SP31U4 60.85 1.09 3.11
SP34 392.56 1.95 1.93
SP34U2 392.75 3.08 1.74
SP35 324.06 2.85 1.42
SP35U5 323.68 3.81 2.04
SP36 190.39 2.35 0.84
SP35U5 190.49 4.05 1.01
SP37 297.59 3.13 2.81
SP37U3 297.43 1.69 3.40
SP38 41.00 0.77 3.10
SP39 191.04 0.74 3.67
SP39U6 190.76 1.55 2.65
SP40 311.11 2.62 3.69
SP40U6 311.12 1.63 3.58
SP41 597.24 3.17 2.68
SP41U4 596.56 1.94 2.69
SP45 358.24 1.89 3.13
SP45U5 358.23 0.92 3.08
SP46 509.32 1.18 7.33
SP46U4 509.32 0.31 7.41
SP47 275.96 2.89 3.86
SP47U4 275.87 1.82 3.76
SP49 412.31 2.85 2.01
SP49U3 412.55 1.74 1.93
SP50 235.85 2.51 1.82
SP50U1 235.48 5.26 2.00
SP51U3 376.96 4.75 2.84
SP51U4 376.92 1.93 2.92
SP52 363.50 1.62 3.36
SP52U5 363.70 2.93 3.34
SP53 392.47 0.26 0.42
SP54 451.29 2.78 0.30
SP57 47.45 2.14 3.01
SP57U4 47.58 2.38 3.25
SP58 486.16 3.55 2.04
SP58U5 486.19 1.18 2.07
SP59 417.73 4.36 3.37
SP59U5 417.92 2.22 3.09
SP60U1 384.33 1.93 0.94
SP61 235.06 4.48 3.44
SP61U1 235.03 7.10 3.76
SP62U4 330.25 1.60 9.75
SPD01 183.08 0.66 3.16
SPD04U1 2.6352 2.44 3.67
SPD07U2 86.61 2.38 3.27

Contacts:
Eastern Platinum Limited
Mr. Ian Rozier, M.Sc., P.Eng.
President & CEO
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: www.eastplats.com

NOMAD: Canaccord Adams Limited, London
+44 20 7050 6752
Email: Robin.Birchall@canaccordadams.com or Clayton.Bush@can