Eastmain Resources Inc.: Clearwater Project-Exploration and Resource Modeling Update

TORONTO, ONTARIO--(Marketwired - Oct. 21, 2014) - Eastmain Resources Inc. (TSX:ER) announces an update on the exploration activities and resource modeling for its wholly-owned Clearwater Project, located in James Bay, Quebec. Using Management's interpretation, SRK Consulting (Canada) Inc. is currently wire framing the gold domains and geological controls to the Eau Claire gold deposit. This wire framing will form the bones of a geostatistical block model resource estimate.

Simultaneously with geological modeling and wire framing, prospecting and trenching is also ongoing within a 5-km-long gold enriched corridor lateral to the Eau Claire deposit. Recent prospecting and sampling of quartz-tourmaline veins located 4.3 kms east of Eau Claire assayed from 3.99 to 62.4 grams gold per tonne in several 0.5 metre channel samples.

Eau Claire Resource Estimate

Resource Estimates involve several steps, many of which are continually ongoing throughout the evolution of an ore deposit. In general however, there are four major areas of work required in the construction of mineral deposit resource models:

1. Data collection and management;
2. Geological modeling and interpretation;
3. Wire framing and grade assignment, within geological domains and in respect of anticipated mining methods; and,
4. Assessment and management of confidence of geology and grade (i.e. valuation of certainty with respect to categories of Inferred, Indicated and Measured Resources).

Geological modeling and interpretation is the most important factor in the estimation of mineralized tonnage. Attention to geological detail is vital to the recognition of elements that control spatial distribution, variability and continuity of potentially economic mineralization. Mineralization may be constrained by geologic features such as structure, lithology, alteration and/or any combination thereof.

Current 3D modeling of the Eau Claire gold deposit has shown that the distribution of gold mineralization is not confined to quartz-tourmaline veins, but also occurs between the veins as wider zones of gold-bearing altered rock connected by oblique cross structures. This revised interpretation demonstrates better continuity of the gold domains and includes intercepts that might have otherwise been left out of the impending resource estimate.

2013 drilling and trenching at the Eau Claire gold deposit intersected both high-grade quartz-tourmaline veins and wide zones of gold-bearing altered rock. 3D geological modeling of the Eau Claire deposit demonstrates that these wide mineralized zones occur at the intersection of two gold-bearing structures. The 450 West Zone is predominated by a series of stacked east-west trending high-grade, gold-bearing quartz-tourmaline veins. A series of northwest trending cross-structures, evident throughout the 450 West Zone, are marked by gold-bearing actinolite-tourmaline rock alteration. These wider gold-bearing intervals within the 450 West Zone occur at the intersection of east-west trending feeder veins and northwest trending gold-bearing alteration zones. Both the east-west and northwest trending gold-bearing structures extend for hundreds of metres laterally and vertically.

Previous drilling in the 850 West Zone also intersected wide, high-grade gold zones consisting of altered actinolite-tourmaline rock, crosscut by quartz-tourmaline feeder veins. These gold-bearing intersections demonstrate the same lithological and structural controls as those found within the 450 West Zone.

2013 trenching and channel sampling on the 450 West Zone also confirmed these wider zones of mineralization, where altered gold-bearing actinolite-tourmaline- and quartz-tourmaline rock is crosscut by high-grade quartz-tourmaline feeder veins. Channel R15, which assayed 39.2 grams per tonne (g/t) gold over 8.5 metres is one example of many. Several wide zones of gold-bearing actinolite-tourmaline rock, ranging from 51.5 g/t over 5.1 metres to 7.7 g/t gold over 9.9 metres, occur at the eastern limit of the 450 West surface exposure.

Wire framing is a 3D schematic blueprint or a visual guide that represents the skeletal framework of a deposit. Wire framing is an important and time-consuming step to the deposit model design process, which allows us to further interpret and "pull out" important geological features and structures thought to be responsible for gold mineralization at Eau Claire. Wire framing of drill hole and map data, involves the digitization, validation and three-dimensional interpretation of two-dimensional geologic sections and plans (including level pans and topographic maps), followed by the building of meshes to validate and support that interpretation. It allows for the prototyping of various geological units and controls and the visualization of how they relate to potential ore development, as well providing a 3D layout of resource potential with respect to possible future mining scenarios.

SRK is currently wire framing both the high-grade, gold-bearing veins and cross-cutting alteration zones for the purposes of calculating tonnes and grade confined to these structures. In addition to wire framing geological units as possible controls to mineralization, composites of multiple veins and their associated alteration envelopes are being wire framed to provide a means of calculating larger tonnage for potentially bulk mineable material near surface and at depth. A revised geologically constrained resource estimate will follow the completion of wire framing by SRK Consulting.

Exploration Activities

Prospecting, geological mapping and trenching have been ongoing over a 5-km-long corridor lateral to the Eau Claire gold deposit. Gold-bearing, quartz-tourmaline veins and alteration zones, comparable to those hosting the Eau Claire gold deposit, were recently discovered in this corridor. Over 400 outcrop rock samples and 74 boulders have been sampled within this sector during the current field season. Assays are still pending for most samples, however anomalous gold values, ranging from 0.1 to 62.4 g/t gold, have been detected in 32 rock samples, while 25 mineralized boulders contain anomalous gold ranging from 1.0 to 76.6 g/t gold.

Trenching is underway on ten prospects within this highly mineralized gold-rich corridor. To date 403 channel samples have been collected. Assays are pending. A fall-winter drill campaign, to search for additional gold resources outside of the footprint of the Eau Claire deposit, is also planned for the 2014 exploration program.

In addition, surface stripping along the northern limit of the 450 West Zone has exposed additional quartz-tourmaline veins, which are currently being channel sampled. Fine-grained gold has been observed within these veins, which continue to delineate and extend the surface exposure of the 450 West Zone, potentially increasing the size of possible future open-pit resources.

Dr. Donald J. Robinson P. Geo, President and Chief Executive Officer of Eastmain, Qualified Person under National Instrument 43-101 reviewed and approved the technical data presented in this press release.

Chemical analysis was completed by ALS CHEMEX Laboratories. A 50-gram split is analyzed using multi-element ME-MS, gold ICP, AA, Fire Assay and gravimetric techniques. Internal standards provided by an independent company and blank samples were inserted for quality control purposes.

About Eastmain Resources Inc. (TSX:ER) Eastmain is a Canadian exploration company with 100% interest in the Eau Claire and Eastmain gold deposits, both of which are located within the James Bay District of Quebec. Eau Claire, our core asset, has superior infrastructure within a favourable jurisdiction and is royalty free. The Corporation also holds a pipeline of exploration projects in this new Canadian mining district.

For further information please contact Eastmain Resources Inc. or visit our website at www.eastmain.com.

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.