East West Resource Corporation
TSX VENTURE : EWR

East West Resource Corporation

July 09, 2008 07:45 ET

East West Vends One of Its Norton-McFaulds Properties

TORONTO, ONTARIO--(Marketwire - July 9, 2008) - East West Resource Corporation (TSX VENTURE:EWR)("East West") is pleased to announce that it has entered into a Letter of Intent ("LOI") with Canadian Orebodies Inc. ("Orebodies") to sell an 80% legal and beneficial interest in its "Trump" 96 claim unit property, comprising 1,536 hectares in the James Bay Lowlands near the Norton Lake 43-101 compliant Ni-Cu-Co-PGE resource.

In order to complete the purchase, Orebodies is required to pay to East West $10,000 cash, issue to East West an aggregate amount of 280,000 common shares of Orebodies and to commission a VTEM airborne survey on the property. East West will hold a 20% carried interest in the property until a Bankable Feasibility study is produced.

East West is pleased to be partnering with Orebodies and advancing another property within its Norton-McFaulds project area.

Closing of the transaction remains subject to the approval of the TSX Venture Exchange and execution of a definitive purchase agreement.

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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