EASTERN PLATINUM LIMITED ANNOUNCES APPOINTMENT OF NEW CHAIR

VANCOUVER, BC, April 24, 2025 /CNW/ - Eastern Platinum Limited (TSX: ELR)(JSE: EPS)("Eastplats" or the "Company") announces the appointment of Non-Independent Director Mr. Changyu (Charlie) Liu as Non-Executive Chair, effective from April 22, 2025. Mr. Liu succeeds George Graham Dorin, our esteemed Board Chair who passed away in March.

Mr. Liu is the Chairman of Ka An Development Co. Limited ("Ka An"), a long-term shareholder of Eastplats. Mr. Liu brings over two decades of expertise in business investment and financing enterprises in China, Hong Kong, and North America. His current investments span across mining, automobile sales, banking, and shipping industries. Ka An continues to be fully committed to ensuring the successful management and operation of the Company.

"We are excited at the prospects of Eastplats becoming a consistent supplier of these minerals and are thankful for Mr. Liu's continued guidance. Ka An continues to be a proud investor and supporter of Eastplats as we grow the PGM and chrome businesses." said Wanjin Yang, CEO of Eastplats.

Commenting on his appointment as Non-Executive Chair, Mr. Liu said "It is an honour and privilege to be Eastplats' Chair. The Company is emerging as a significant producer of important minerals in the global economy. I look forward to continue working with Wanjin and the Eastplats management team to support them as they build the company and generate rewards for all of the shareholders."

About Eastern Platinum Limited

Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company's properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy's Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world's PGM-bearing ore.

Operations at the Crocodile River Mine currently include mining and processing ore from the Zandfontein underground section to produce PGM and chrome concentrates, respectively.

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") within 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 number 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", "could", "expects", "anticipates" and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company's most recent Annual Information Form available under the Company's profile on www.sedarplus.ca. 

In particular, this press release contains, without limitation, forward-looking statements pertaining to: growth prospects of the Company's PGM and chrome businesses. 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 to 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, unanticipated problems that may arise in the Company's production processes, commodity prices, lower than expected grades and quantities of resources, need for additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.

All forward-looking statements in this press release are expressly qualified in their entirety by this cautionary statement, the "Cautionary Statement on Forward-Looking Information" section contained in the Company's most recent Management's Discussion and Analysis available under the Company's profile on www.sedarplus.ca.  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, and does not undertake, to 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.

SOURCE Eastern Platinum Ltd.

For further information, please contact: EASTERN PLATINUM LIMITED, Wylie Hui, Chief Financial Officer and Corporate Secretary, [email protected], [phone]