Mr. Wylie Hui reports

EASTPLATS ANNOUNCES LATE FILING OF ANNUAL FINANCIAL STATEMENTS, ANNUAL INFORMATION FORM AND MANAGEMENT CEASE TRADE ORDER

Further to Eastern Platinum Ltd.'s news release dated March 18, 2024, it did not file its annual audited financial statements for the fiscal year ended Dec. 31, 2023, and the related management's discussion and analysis and annual information form for the fiscal year ended Dec. 31, 2023, by the deadline of April 1, 2024. The company made an application to the provincial securities commissions under National Policy 12-203 Cease Trade Orders and has received a management cease trade order (the MCTO) in respect of the late filing. During the MCTO, the general investing public will continue to be able to trade in the company's listed common shares. However, the company's chief executive officer, chief financial officer, and such other directors, officers and persons as determined by the applicable regulatory authorities, will not be able to trade the company's shares.

The company currently expects to file its audited financial statements for the fiscal year ended Dec. 31, 2023, and the related management's discussion and analysis as soon as practicable. Until then, the company intends to comply with the provisions of the alternative information guidelines as set out in NP 12-203 for as long as it remains in default, including the issuance of biweekly default status reports, each of which will be issued in the form of a news release.

About Eastern Platinum Ltd.

Eastern Platinum owns directly and indirectly a number of platinum group metal (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 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.