Eastmain Resources Inc.
TSX : ER

Eastmain Resources Inc.

August 11, 2011 09:00 ET

Eastmain Resources Inc.: Clearwater Project-Drilling Continues to Expand the 850 West Zone-Visible Gold in 10 Drill Holes

TORONTO, ONTARIO--(Marketwire - Aug. 11, 2011) - Eastmain Resources Inc. (TSX:ER) is pleased to announce that drilling at its wholly-owned Clearwater Project, located in James Bay Quebec, continues to significantly expand the 850 West Zone of the Eau Claire gold deposit. 2011 drilling to date has intersected multiple sets of gold-bearing, quartz-tourmaline veins and alteration zones over wide intervals, within an area 300 metres-long, to a vertical depth of 200 metres. Visible gold has been intersected in 10 of 27 holes drilled to date, and is particularly abundant within Vein 12.

15 drill holes have intersected Vein 12 (V12) over a strike-length of 200 metres, at an average depth of about 150 metres from surface. Drill hole 298, collared at 1040 West, intersected 2.7 metres containing more than 50 grains of visible gold, at 140.2 metres depth. Drill hole 303, collared 25 metres west of 298, intersected a 9.0-metre-wide interval of V12 containing more than 100 grains of visible gold and multiple grains of tellurides, at 144.5 metres down the hole. Drill hole 305, collared 25 metres west of 303, intersected a 10.1-metre-wide interval of V12 at 136.2 metres. This interval contains over 45 clusters, totaling more than 160 grains, of visible gold. Drill hole 310, collared 25 metres north of 305, intersected a 5.9-metre-wide interval of V12, at a depth of 176.3 metres, which contains a total of approximately 40 grains of visible gold in multiple clusters, 40 metres vertically below hole 305. Visible gold appears throughout several intersections as fine-grained gold grains from 0.10 to 1.50 mm in size. Arranged as individual grains and clusters of gold grains, visible gold occurs in both quartz-tourmaline veins and the adjacent altered rocks.

Collared 50 metres west of 305, drill hole 307 intersected a narrow quartz-tourmaline vein coinciding with the V12 target horizon. More importantly however, this hole intersected a new discovery known as the "Sophie Vein". In this drill hole, the Sophie Vein comprises four quartz-tourmaline veins containing visible gold over a core length of 5.0 metres, at a depth of 331.6 metres. No previous drilling had ever been undertaken in this area. Assays are pending for holes 292 to 310.

Quartz-tourmaline veins within the 850 West Zone are very comparable to those delineating the main zone of Eau Claire (450 West Zone). However, the vein orientation has changed. Veins in the 850 West Zone appear to have a near vertical dip and a northeasterly strike, whereas those in the 450 West Zone run east-west and dip about 45° south. Both Vein 12 and the Sophie Vein are open laterally and at depth. Drilling will continue to test the 850 target zone, which is wide open to the west and at depth.

A second drill is now testing the "Gap Zone", a 200-metre-wide area lying between the main body of the Eau Claire gold deposit and the 850 West Zone.

Current trenching has uncovered the "Rebecca Zone," a 10-metre-wide interval containing multiple quartz-tourmaline veins and alteration zones south of Vein 12. This newly discovered target area has never been drill-tested.

"Our 2011 work program has been successful in expanding near surface and depth potential of gold resources at Eau Claire, well west of any previous drilling," according to Dr. Robinson, President and CEO of Eastmain. "Recent drilling and trenching have discovered impressive thicknesses of gold-bearing veins, (up to 10 metres), in our first phase of drilling into the western extension of the 850 West Zone, over 300 metres west of previous work. The gold-rich vein system here is similar in structure and mineralogy to the main Eau Claire deposit (450 West Zone) and is open laterally and at depth. This new drilling could significantly expand the gold resources at Eau Claire."

Dr. Donald J. Robinson P.Geo, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.

About Eastmain Resources Inc. (TSX:ER)

Eastmain is a Canadian gold exploration company with 100% interest in the Eau Claire and Eastmain gold deposits which together contain 632,000 ounces of gold in Measured & Indicated resources(1),255,750 ounces gold in Historical Measured and Indicated resources(4) plus 1,020,000 ounces of gold in Inferred resources(2). The Corporation has $20.5 Million in its treasury and holds a pipeline of exploration projects within the James Bay District, including the Éléonore South property, which lies immediately south of Goldcorp's multi-million-ounce Eleonore property. Eastmain has allocated $10 million for exploration of its key gold projects in Québec for 2011. Work will include 46,000 metres of drilling.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Eastmain, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

(1) Measured & Indicated Resources (which may potentially be extracted by both open and underground mining method) of 3,354,000 tonnes containing 632,000 ounces gold @ 5.86 g/t gold uncapped – Eau Claire NI43-101 NR Apr 26, 2011
(2) Inferred Resources (which may potentially be extracted by both open and underground mining method) of 5,322,000 tonnes containing 1,020,000 ounces gold @ 6.06 g/t gold uncapped – Eau Claire NI43-101 NR Apr 26, 2011
(3) Near-surface Open Pit Measured & Indicated Resources for Eau Claire (only that portion of the Eau Claire deposit that could potentially be mined by open-pit method): 2,729,000 tonnes containing 502,000 ounces @ 5.72 g/t gold -– Eau Claire NI43-101 NR Apr 26, 2011; NR May 19, 2011
(4) 255,750 ounces gold Measured & Indicated Historical Non-NI43-101 Compliant Resources at Eastmain Mine (Campbell 2004 AR) and should not be relied upon. A qualified person from Eastmain has not done sufficient work to classify the historical estimate as current mineral resources, and therefore the historical estimate should not be treated as current mineral resources.

Contact Information

  • Eastmain Resources Inc.
    Dr. Donald J. Robinson
    President
    (519) 940-4870
    (519) 940-4871 (FAX)

    Eastmain Resources Inc.
    Catherine Butella
    Exploration Manager
    (519) 940-4870
    (519) 940-4871 (FAX)
    info@eastmain.com
    www.eastmain.com