COURT DISMISSES THE APPEAL OF PETITION SEEKING LEAVE TO COMMENCE A DERIVATIVE ACTION AGAINST DIRECTORS OF EASTPLATS

EASTERN PLATINUM LIMITED REPORTS Q3 2020 RESULTS

EASTPLATS GRANTS STOCK OPTIONS

EASTERN PLATINUM LIMITED REPORTS Q2 2020 RESULTS

EASTERN PLATINUM LIMITED ANNOUNCES AN AGREEMENT TO COMPLETE A FEASIBILITY STUDY AND SOURCE FUNDING FOR THE RECOVERY OF PGMs THROUGH A JOINT VENTURE FROM THE REDEPOSITED TAILINGS

EASTERN PLATINUM LIMITED ANNOUNCES CLOSING OF THE SETTLEMENT WITH ALPHAGLOBAL AND ISSUANCE OF COMMON SHARES AND WARRANTS

June 29, 2020
Trading Symbol: ELR (TSX); EPS (JSE)

NEWS RELEASE

EASTERN PLATINUM LIMITED ANNOUNCES CLOSING OF THE SETTLEMENT WITH
ALPHAGLOBAL AND ISSUANCE OF COMMON SHARES AND WARRANTS

June 29, 2020, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the “Company”) is pleased to announce the closing of the Company’s previously announced settlement transaction with AlphaGlobal Capital Inc. (“AlphaGlobal”) (Press Release of June 26, 2020) pursuant to which AlphaGlobal has discontinued all claims by AlphaGlobal against the Company and its subsidiaries and released the Company from any and all claims that AlphaGlobal may have against the Company or its subsidiaries, in exchange for which the Company has: (a) issued 8,000,000 common shares of the Company (the “Common Shares”) at a deemed subscription price of $0.235 CDN (CDN$1,880,000), and 6,000,000 common share purchase warrants to a nominee of AlphaGlobal (the “Warrants”), with each such Warrant entitling the holder to acquire one Common Share of the Company (each a “Warrant Share”) for a period of two years upon payment of the exercise price of $0.24 CDN; (b) made a payment of 5,000,000 South African Rand (“ZAR”); and (c) has issued a promissory note in favour of AlphaGlobal for the payment of ZAR4,000,000 in four equal installments, each payable on September 30, 2020, December 31, 2020, March 31, 2021 and June 30, 2021.

The Common Shares, the Warrants and the Warrant Shares issuable upon exercise of the Warrants will be subject to a hold period until October 27, 2020 in accordance with applicable securities laws.

About Eastern Platinum Limited

Eastplats owns, directly and indirectly, a number of platinum group metals (“PGM”) and chrome assets in the Republic of South Africa. All of the Company’s properties are situated on the western and eastern limbs of the Bushveld Complex, the geological environment that hosts approximately 80% of the world’s PGMbearing ore.

Operations at the Crocodile River mine currently include re-mining and processing its tailings resource, with an offtake of the chrome concentrate from the Barplats Zandfontein UG2 tailings facility (“Retreatment Project”).

For further information, please contact:

EASTERN PLATINUM LIMITED
Rowland Wallenius, Chief Financial Officer
rwallenius@eastplats.com (email)
(604) 800-8200 (phone)

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”, “will”, “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 Management Discussion and Analysis and Annual Information Form available under the Company’s profile on www.sedar.com.

In particular, this press release contains forward-looking statements pertaining to the potential outcome of litigation matters. 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 our 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.sedar.com. 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

EASTERN PLATINUM LIMITED ANNOUNCES SETTLEMENT WITH ALPHAGLOBAL

June 26, 2020
Trading Symbol: ELR (TSX); EPS (JSE)

NEWS RELEASE

EASTERN PLATINUM LIMITED ANNOUNCES SETTLEMENT WITH ALPHAGLOBAL

June 26, 2020, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the “Company”) today announced that the Company has reached a settlement agreement with AlphaGlobal Capital Inc. (“AlphaGlobal”) to dismiss all claims against the Company and its subsidiaries and to release the Company
from any and all claims that AlphaGlobal may have against the Company or its subsidiaries (the “Claims”), in exchange for the issuance of 8,000,000 common shares of the Company (each a “Common Share”) at a deemed subscription price of $0.235 CDN (CDN$1,880,000), 6,000,000 common share purchase warrants exercisable at $0.24 CDN each entitling the holder to acquire one Common Share of the Company for a period of two years (the “Warrants”), and the payment of South African Rand (“ZAR”) 9,000,000 (ZAR5,000,000 on closing and ZAR1,000,000 each quarter-end starting on September 30, 2020)
(CDN$720,000) (the “Settlement Transaction”).

The Settlement Transaction received conditional approval by the Toronto Stock Exchange (the “TSX”). The Common Shares, the Warrants and the Common Shares issuable upon exercise of the Warrants will be subject to a hold period of four months and a day as of the date of issuance in accordance with applicable
securities laws.

The Claims against the Company were first initiated by commencement of litigation in 2017 in South Africa and continued by litigation in 2018 in the British Virgin Islands in relation to the payment of amounts alleged to be owing under a 2007 promissory note entered into by the Company and AlphaGlobal.
AlphaGlobal sought payment of the amount of ZAR 30,797,464 (CDN$2,463,797) plus an amount that AlphaGlobal claimed was owing for default interest from 2007, for an estimated total claim in excess of ZAR 170,000,000 (CDN$13,600,000). The Settlement Transaction will settle all matters related to the Claims and any litigation outstanding between the parties.

Diana Hu the CEO of Eastplats stated:“This settlement closes a long-standing chapter and eliminates a significant contingency for the Company, created years ago by the previous management of the Company.” Ms. Hu further added “current management continues to focus on operations of the Retreatment Project (as
defined below) and other potential projects and opportunities to create value for all stakeholders.”

About Eastern Platinum Limited

Eastplats owns, directly and indirectly, a number of platinum group metals (“PGM”) and chrome assets in the Republic of South Africa. All of the Company’s properties are situated on the western and eastern limbs of the Bushveld Complex, the geological environment that hosts approximately 80% of the world’s PGMbearing ore.

Operations at the Crocodile River mine currently include re-mining and processing its tailings resource, with an offtake of the chrome concentrate from the Barplats Zandfontein UG2 tailings facility (“Retreatment Project”).

For further information, please contact:

EASTERN PLATINUM LIMITED
Rowland Wallenius, Chief Financial Officer
rwallenius@eastplats.com (email)
(604) 800-8200 (phone)

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”, “will”, “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 Management Discussion and Analysis and Annual Information Form available under the Company’s profile on www.sedar.com.

In particular, this press release contains forward-looking statements pertaining to the potential outcome of litigation matters. 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 our 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.sedar.com. 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

EASTERN PLATINUM LIMITED TEMPORARILY CEASES CHROME CONCENTRATE PRODUCTION IN SOUTH AFRICA DUE TO CORONAVIRUS AND ADDITIONAL TESTING AND CLEANING

June 16, 2020

NEWS RELEASE

EASTERN PLATINUM LIMITED TEMPORARILY CEASES CHROME CONCENTRATE
PRODUCTION IN SOUTH AFRICA DUE TO CORONAVIRUS AND ADDITIONAL TESTING AND
CLEANING

June 16, 2020, Vancouver, British Columbia – Eastern Platinum Limited (“Eastplats” or the “Company”) reports that the chrome concentrate operation at Crocodile River Mine (“CRM”) located in South Africa was temporarily halted on the weekend as a result of a confirmed case of COVID-19 and some precautionary steps the Company is taking, including personnel self-isolation and full scale deep cleaning of CRM. To ensure the safety and health of the
staff, the Company is instituting a full baseline testing of staff and contractors for COVID-19. The Company has prepared and is undertaking additional training and education, and targets chrome concentrate production to restart not later than Saturday June 20, 2020.

The effects of the COVID-19 are changing rapidly and the consequences of the temporary shutdown of CRM are expected to be minimal, however if it is extended the effects cannot be reasonably estimated at this time but could have material adverse effects on the Company’s business and cashflows.

For further information, please contact:

EASTERN PLATINUM LIMITED
Rowland Wallenius, Chief Financial Officer
rwallenius@eastplats.com (email)
(604) 800-8200 (phone)

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”, “will”, “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 Management Discussion and Analysis and Annual Information Form available under the Company’s profile on www.sedar.com.

In particular, this press release contains forward-looking statements pertaining to the potential outcome of litigation matters. 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 our 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.sedar.com. 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES