East West Resource Corporation
TSX VENTURE : EWR

East West Resource Corporation

December 10, 2007 15:37 ET

East West Resource Corporation Closes CDN$2.5 Million Private Placement Financing Arranged With Powerone Capital Markets Limited

THUNDER BAY, ONTARIO--(Marketwire - Dec. 10, 2007) - East West Resource Corporation (TSX VENTURE:EWR) is pleased to announce that it has closed a brokered private placement financing through PowerOne Capital Markets Limited that raised gross proceeds of CDN$2.5 million. The intent to proceed with the private placement was initially announced on October 31, 2007.

The Company proposes to use the proceeds to fund on-going exploration of its Marshall Lake property for copper, zinc and silver and to revitalize its copper, nickel, PGE exploration program.

A total of 13,333,334 non-flow-through ("NFT") units were issued at a price of $0.15 per unit, with each unit consisting of one common share of the company and one common share purchase warrant. Each common share purchase warrant is exercisable for one common share of the company at a price of $0.17 per share for a period of 24 months after the closing of the offering. A total of 2,941,176 flow-through ("FT") units were issued at a price of $0.17 per unit, with each FT unit consisting of one FT common share of the company and one-half of one FT common share purchase warrant. Each whole FT common share purchase warrant is exercisable for one common share of the company at a price of $0.22 per share for a period of 24 months after the closing of the offering.

PowerOne received a cash commission of $200,000 (8% of the gross proceeds) and, together with its sub-agents, compensation options entitling them to purchase 1,627,451 broker units (10% of the total number of NFT units and FT units sold) at $0.15 per broker unit. Each broker unit will have the same characteristics as the NFT units.

Certain information regarding East West Resource Corporation contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although East West Resource Corporation believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. East West Resource Corporation cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what East West Resource Corporation currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.

THE TSX VENTURE EXCHANGE DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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