Eastern Platinum Reports Results for the Three Months Ended September 30, 2011

 
TIDMELR 
 
Eastern Platinum Reports Results for the Three Months Ended September 30, 2011 
FOR:  EASTERN PLATINUM LIMITED 
 
TSX, AIM SYMBOL:  ELR 
JSE SYMBOL:  EPS 
 
November 14, 2011 
 
Eastern Platinum Reports Results for the Three Months Ended September 30, 2011 
 
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2011) - Eastern Platinum Limited ("Eastplats") 
(TSX:ELR)(AIM:ELR)(JSE:EPS) reports financial results for the three months ended September 30, 2011. 
 
Summary of results for the three months ended September 30, 2011 ("Q3 2011"): 
 
/T/ 
 
=-  Eastplats recorded earnings attributable to equity shareholders of the 
    Company of $1,364,000 ($0.00 per share) in the quarter ended September 
    30, 2011 ("Q3 2011") compared to earnings of $4,039,000 ($0.01 per 
    share) in the quarter ended September 30, 2010 ("Q3 2010"). 
 
 
=-  EBITDA decreased to $2,912,000 in Q3 2011 compared to $11,120,000 in Q3 
    2010. 
 
 
=-  PGM ounces sold decreased 29% to 26,955 ounces in Q3 2011 compared to 
    37,798 PGM ounces in Q3 2010. 
 
 
=-  The U.S. dollar average delivered price per PGM ounce increased 14% to 
    $1,088 in Q3 2011 compared to $953 in Q3 2010. 
 
 
=-  The Rand average delivered price per PGM ounce increased 12% to R7,768 
    in Q3 2011 compared to R6,966 in Q3 2010. 
 
 
=-  Total Rand operating cash costs increased 3% to R204 million in Q3 2011 
    compared to R197 million in Q3 2010. 
 
 
=-  Rand operating cash costs net of by-product credits increased 34% to 
    R6,097 per ounce in Q3 2011 compared to R4,566 per ounce in Q3 2010. 
    Rand operating cash costs increased 45% to R7,561 per ounce in Q3 2011 
    compared to R5,212 per ounce in Q3 2010. 
 
 
=-  U.S. dollar operating cash costs net of by-product credits increased 37% 
    to $854 per ounce in Q3 2011 compared to $625 per ounce achieved in Q3 
    2010. U.S. dollar operating cash costs increased 49% to $1,059 per ounce 
    in Q3 2011 compared to $713 per ounce in Q3 2010. 
 
 
=-  Head grade increased to 4.1 grams per tonne in Q3 2011 from 4.0 grams 
    per tonne in Q3 2010. 
 
 
=-  Average concentrator recovery decreased to 78% in Q3 2011 compared to 
    81% in Q3 2010. 
 
 
=-  Development meters increased by 21% to 3,976 meters and on-reef 
    development increased by 25% to 2,248 meters compared to Q3 2010. 
 
 
=-  Stoping units decreased 20% to 40,594 square meters in Q3 2011 compared 
    to 50,892 square meters in Q3 2010. 
 
 
=-  Run-of-mine ore hoisted decreased by 27% to 265,889 tonnes in Q3 2011 
    compared to 362,042 tonnes in Q3 2010. 
 
 
=-  Run-of-mine ore processed decreased by 27% to 261,280 tonnes in Q3 2011 
    compared to 357,219 tonnes in Q3 2010. 
 
 
=-  The Company's Lost Time Injury Frequency Rate (LTIFR) improved to 1.66 
    in Q3 2011 compared to 4.66 in Q3 2010. 
 
 
=-  At September 30 2011, the Company had a cash position (including cash, 
    cash equivalents and short term investments) of $267,164,000 (December 
    31, 2010 - $350,292,000). 
 
/T/ 
 
The qualified person having reviewed the operating disclosures presented in this press release is Mr. Brian 
Montpellier, P. Eng, V.P. Project Development. 
 
Financial Information 
 
For complete details of financial results, please refer to the unaudited condensed consolidated interim 
financial statements and accompanying Management's Discussion and Analysis ("MD&A") for the three months ended 
September 30, 2011. These financial statements and MD&A, and the comparative unaudited condensed consolidated 
interim financial statements for the three months ended September 30, 2010 are all available on SEDAR at 
www.sedar.com and on the Company's website www.eastplats.com. 
 
Teleconference call details 
 
Eastplats will host a telephone conference call on Monday, November 14, 2011 at 10:00 am Pacific (1:00 pm 
Eastern) to discuss these results. The conference call may be accessed by dialing 1-800-319-4610 in Canada and 
the United States, or 1-604-638-5340 internationally. 
 
The conference call will be archived for later playback until Monday, November 21, 2011 and can be accessed by 
dialing 1-604-638-9010 or 1-800-319-6413 and using the pass code 4219 followed by the number sign (#). 
 
Total shares issued and outstanding - 908,187,807 
 
To view Sept. 30, 2011 financials please click on the following link: http://media3.marketwire.com/docs/ELRFinancials.pdf. 
 
To view Sept. 30, 2011 MD&A please click on the following link: http://media3.marketwire.com/docs/ELR-MDA.pdf. 
 
Cautionary Statement on Forward-Looking Information 
 
This press release, which contains certain forward-looking statements, is intended to provide readers with a 
reasonable basis for assessing the financial performance of the Company. All statements, other than statements 
of historical fact, are forward-looking statements. The words "believe", "expect", "anticipate", "contemplate", 
"target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar 
expressions identify forward looking statements. Forward-looking statements are necessarily based upon a number 
of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to 
significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could 
cause actual results to differ materially from those projected in the forward-looking statements. Such factors 
include, but are not limited to, fluctuations in the currency markets such as Canadian dollar, South African 
Rand and U.S. dollar, fluctuations in the prices of PGM and other commodities, changes in government 
legislation, taxation, controls, regulations and political or economic developments in Canada, the United 
States, South Africa, or Barbados or other countries in which the Company carries or may carry on business in 
the future, risks associated with mining or development activities, the speculative nature of exploration and 
development, including the risk of obtaining necessary licenses and permits, and quantities or grades of 
reserves. Many of these uncertainties and contingencies can affect the Company's actual results and could cause 
actual results to differ materially from those expressed or implied in any forward-looking statements made by, 
or on behalf of, the Company. Readers are cautioned that forward-looking statements are not guarantees of 
future performance. There can be no assurance that such statements will prove to be accurate and actual results 
and future events could differ materially from those acknowledged in such statements. Specific reference is 
made to the Company's most recent Annual Information Form on file with Canadian provincial securities 
regulatory authorities for a discussion of some of the factors underlying forward-looking statements. 
 
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as 
a result of new information, future events or otherwise, except to the extent required by applicable laws. 
 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Eastern Platinum Limited 
Ian Rozier 
President & C.E.O. 
[phone] 
[phone] (FAX) 
[e-mail] 
www.eastplats.com 
 
OR 
 
NOMAD: 
Canaccord Genuity Limited, London 
Bhavesh Patel 
[phone] 
 
OR 
 
JSE SPONSOR: 
PSG Capital (Pty) Limited 
Johan Fourie 
[phone] 
[e-mail] 
 
No stock exchange, securities commission or other regulatory authority has approved or disapproved the 
information contained herein. 
 
 
Eastern Platinum Limited