Refractory Metals News - Eastplats Reports Operating Results for the Quarter Ended June 30, 2010

Eastplats Reports Operating Results for the Quarter Ended June 30, 2010

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2010) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR)(JSE:EPS) is pleased to report operating results from the Crocodile River Mine ("CRM") for the second quarter ended June 30, 2010.

Production statistics for the current quarter and historical quarters are as follows:

	Quarter ended					Increase (decrease)
Production statistics	Jun 30, 2010	Mar 31, 2010	Dec 31, 2009	Sept 30, 2009	Jun 30, 2009	Q2 2010 vs. Q1 2010	Q2 2010 vs. Q2 2009
Ounces produced	30,820	30,531	34,000	29,986	33,383	289	-2,563
Run-of-mine tonnes hoisted	297,186	304,309	321,393	244,959	342,368	-7,123	-45,182
Run-of-mine tonnes processed	290,028	290,854	321,983	280,777	304,354	-826	-14,326
Development (meters)	3,202	2,812	3,254	2,882	4,326	390	-1,124
On-reef development (meters)	1,573	1,931	2,135	1,562	2,860	-358	-1,287
Stoping units (square meters)	50,573	51,760	55,153	36,263	51,342	-1,187	-769
Head grade (grams/tonne)	4.1	4.1	4.1	4.1	4.2	--	-0.1
Concentrator recovery from ROM ore	80%	78%	79%	78%	80%	+2%	--
Chrome sold (tonnes)	76,677	75,846	85,347	76,900	70,850	831	5,827

Production was up 1% compared to the first quarter of 2010 ("Q1 2010"), but run-of mine tonnes hoisted and on-reef development meters were down 2% and 19% respectively compared to Q1 2010 due to the dismissal of 15 contract stoping crews (out of a total of 58 crews) in May and the resulting build-up and training of new crews. Full replacement of these crews was completed in July 2010. The Company expects that on-reef development and production will increase once the new crews have been properly inducted and trained.

The contract crews were dismissed due to management's concerns over their safety procedures. Lost-time injury frequency rate (LTIFR) was 2.78, compared to 1.77 in Q1 2010.

A surface stockpile of 10,556 tonnes (representing approximately 1,100 recoverable PGM ounces) was measured at the end of the quarter. Head grade was maintained at 4.1g/t and concentrator recovery increased to an average of 80% for the quarter.

Underground development commenced at Crocette on April 4, 2010 in accordance with the planned CRM production growth schedule.

The qualified person having reviewed the operating results presented in this press release is Mr. Brian Montpellier, P. Eng, V.P. Project Development.

Eastplats will release its full second quarter results on Wednesday, August 11, 2010.

Total shares issued and outstanding: 683,030,719

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 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.

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