Eastmain Resources Inc.
TSX : ER

Eastmain Resources Inc.

April 13, 2009 09:41 ET

Eastmain Resources Inc. Announces Amendments to Shareholder Meeting Matters

TORONTO, ONTARIO--(Marketwire - April 13, 2009) - Eastmain Resources Inc. ("Eastmain") (TSX:ER) announces today proposed amendments to certain matters which are to be considered and voted upon at its annual and special shareholder meeting scheduled to be held on April 23, 2009 (the "Meeting").

The management information circular of Eastmain dated March 10, 2009 indicated that at the Meeting, amongst other matters, shareholders would be invited to consider, and if deemed fit approve a new By-Law No. 1 for Eastmain ("By-Law No. 1"). Eastmain is proposing to amend By-Law No. 1 to provide that the quorum requirement for shareholders' meetings shall consist of two persons entitled to vote thereat holding in the aggregate at least 10% of all issued and outstanding shares entitled to be voted at such meeting, whether present in person or represented by proxy, and the quorum for the transaction of business at any meeting of the board of directors of Eastmain shall be not less than a majority of the number of directors which then constitutes the board.

Eastmain is committed to best corporate governance practices and has proposed the above amendments in accordance with such mandate. Accordingly, management and the board of directors of Eastmain are of the opinion that By-Law No. 1 (which has been renamed as By-Law No. 2 following the above-noted amendments), as amended as described above, are in the best interests of Eastmain and its shareholders and accordingly, unanimously recommend that the shareholders vote for the approval and confirmation of such matter at the Meeting. A copy of By-Law No. 2 has been filed on SEDAR at www.sedar.com and are available for review on Eastmain's website at www.eastmain.com.

About Eastmain Resources Inc. (TSX:ER)

Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits. Eastmain has $20 Million in working capital and holds an interest in 12 projects within the James Bay District, including the Eleonore South property, where a gold discovery has been found in a similar geologic setting to Goldcorp's Roberto deposit. Eastmain has a 2009 budget of $4 million for gold exploration in Quebec.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks. Actual events or results could differ materially from the Company's expectations and projections.

Contact Information

  • Eastmain Resources Inc.
    Dr. Donald J. Robinson
    President
    (519) 940-4870
    (519) 940-4871 (FAX)
    or
    Eastmain Resources Inc.
    Catherine Butella
    Exploration Manager
    (519) 940-4870
    (519) 940-4871 (FAX)
    Email: info@eastmain.com
    Website: www.eastmain.com