EASTPLATS ANNOUNCES THAT IT WILL NOT BE PROCEEDING WITH THE NON-BROKERED PRIVATE PLACEMENT OF APPROX 18,435,360 SHARES

VANCOUVER, Dec. 14, 2016 /CNW/ – Eastern Platinum Limited (the “Company”) announces that it will not be proceeding with the non-brokered private placement of approximately 18,435,360 common shares of the Company previously announced on October 27, 2016. The Company and the placee have mutually agreed to terminate the proposed investment, without cost or penalty to either, as they were unable to reach agreement on the final terms and conditions sought by the Company. As a result of the termination of the placement, the Company will have no obligation to pay the finders’ fee that had been contemplated as part of the proposed investment.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE Eastern Platinum Limited

EASTPLATS ANNOUNCES LAW SUIT FILED BY HEBEI ZHONGHENG TIANDA PLATINUM CO

Eastern Platinum Limited (“Eastplats” or the “Company”) announces that Hebei Zhongheng Tianda Platinum Co. Limited (“HZT”) has filed a notice of civil claim in the British Columbia Supreme Court against the Company and several of its subsidiaries with respect to an alleged repudiation and breach of the share purchase agreement dated June 28, 2016 entered into with HZT by former management of the Company (the “Purchase Agreement”).