Mr. Wylie Hui reports

EASTERN PLATINUM LIMITED ANNOUNCES STOCK OPTION GRANTS AND RESTATEMENT OF FIRST QUARTER MD&A

Eastern Platinum Ltd. has granted 3.8 million stock options to directors, officers and employees of the company, which vest in 90 days. The options were granted for a term of five years and expire on June 21, 2028. Each option allows the holder to purchase one common share of Eastern Platinum at an exercise price of 10 cents.

The company is filing an amended management's discussion and analysis (MD&A) for the three months ended March 31, 2023, to reflect a change described herein.

Page 10 of the MD&A has been updated to correct "total tailings feed (tons)" for the first quarter of 2023, which has been revised from 432,005 to 631,954, as the original number excluded 199,949 tons processed in March, 2023. No other changes were made to the MD&A, and the first-quarter financial statements were not impacted.

The previously filed MD&A was originally filed by the company on SEDAR on May 12, 2023. This restated MD&A replaces and supersedes the previously filed MD&A and has been filed on SEDAR and also on the company's website.

About Eastern Platinum Ltd.

Eastern Platinum owns, directly and indirectly, a number of platinum group metal and chrome assets in 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 per cent of the world's PGM-bearing ore.

Operations at the Crocodile River mine currently include remining and processing its tailings resource to produce PGM and chrome concentrates from the Barplats Zandfontein tailings dam.

We seek Safe Harbor.