VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2011) - Eastern Platinum Limited (TSX:ELR)(AIM:ELR)(JSE:EPS) ("Eastplats" or the "Company") is pleased to report that it has increased its interest in the Mareesburg platinum project ("Mareesburg") as a result of purchasing a further 23% interest in Lion's Head Platinum (Proprietary) Limited ("LHP"), the entity that owns a 100% interest in Mareesburg. The consideration to be paid by Eastplats to acquire this additional interest in LHP is US$10 million and 20 million common shares of Eastplats, making the total cost to the Company approximately US$20.5 million.