East West Resource Corporation
TSX VENTURE : EWR

East West Resource Corporation

June 23, 2008 12:04 ET

East West Resource Corporation Options Max Nickel-Copper-PGE Project to Northern Shield Resources

THUNDER BAY, ONTARIO--(Marketwire - June 23, 2008) - East West Resource Corporation, (the "company"), (TSX VENTURE:EWR) is please to announce that Northern Shield Resources, (TSX VENTURE:NRN) has been granted an option to earn a 50% interest in the companys' 91 square kilometer "Max" nickel-copper PGE project, located 52 km east of the company's Norton copper-nickel-PGE deposit, and 112 kilometers south of Noronts' nickel-copper-PGE discovery in the McFaulds Lake area.

The terms of the option agreement consist of an initial payment of $75,000 and the issue 300,000 shares (upon approval of the TSX Venture Exchange), and an expenditure commitment of $250,000 in 2008 ($1.0 million within 2 years). An additional option payment of $50,000 and issuance of 100,000 shares is to be made within 12 months of the approval by the TSX Venture Exchange. After earning its 50% interest, Northern Shield can increase its interest to 66% with an additional expenditure of $2.5 million, and the issuance of an additional 250,000 shares.

An airborne VTEM and magnetic survey of the property was recently completed by Geotech Ltd. which identified four areas of conductors that may represent massive sulphides. The magnetic survey, in conjunction with bedrock exposures, have outlined mafic / ultramafic intrusions. A 700 metre long EM (electromagnetic) anomaly has been identified within one mafic intrusion at a depth of 150m and is the prime drill target.

The company has been exploring the Norton nickel-copper-PGE deposit since 2001 where drilling has produced a 43-101 compliant Measured and Indicated resource containing 2,258,654 Tonnes, grading 0.67% Ni, 0.61% Cu, 0.03% Co, and 0.46 g/t Pd. This project set out above is being supervised by R.S. Middleton, P.Eng, who is the qualified person and responsible for quality control of assaying, geophysical surveys and exploration program. More details are available at www.eastwestres.com.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

M.J. (Moe) Lavigne, President and CEO

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

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