Eastmain Resources Inc. (fka EANRF)

[gsfl]

40,000-m drill program underway at Eau Claire

Clearwater Project

Quartz-Tourmaline veins with visible gold intersected north of resource limit

Eastmain Resources Inc. (TSX:ER) announces that a 40,000-metre drill program is underway on its wholly-owned Clearwater Project, located in James Bay Quebec. The objectives of the program are to continue to expand the limits of the Eau Claire gold deposit and test new prospective resource targets. 50% of this year's drilling will be focused on increasing the size of high-grade Measured and Indicated gold resources in the 450 and 850 West zones, which may be amenable to extraction by open pit methods.
Drilling and trenching in 2011 resulted in a 550-metre-long expansion of a near-surface, gold-bearing vein system at the 850 West Zone, potentially adding to previously defined Open Pit resources (see website for rendering of 3D Leapfrog Model). Estimated potential Open Pit resources within the Eau Claire 450 West Zone, as at April 2011, contained 2,729,000 tonnes of Measured and Indicated resources at an average grade of 5.15 grams per tonne gold containing 452,000 ounces gold (502,000 ounces gold at 5.72 grams per tonne uncapped) and 1,398,000 tonnes Inferred Open Pit resources at an average grade of 2.56 grams per tonne gold containing 115,000 ounces gold (127,000 ounces gold at 2.83 grams per tonne uncapped). Drilling below the 450 West Zone also outlined 130,000 ounces of gold as Measured and Indicated Underground resources at an average grade of 6.46 grams per tonne gold and 905,000 ounces gold as Inferred Underground resources at an average grade of 7.18 grams per tonne gold (April 26, 2011 news release). The current resource, which does not include any drilling post 2009, does not contain the 100 gold-bearing intercepts from the 850 West Zone drilling or high-grade results reported from the RC Soccer Field trench in 2011.
2012 drilling is currently testing the northern limits of the 450 West Zone, where a stacked series of quartz-tourmaline veins has been intersected north of the estimated open pit resource. ER12-353, the third hole of this season's program, has intersected visible gold (VG) at a depth of 138.6 metres. The VG occurs within an interval containing 25 quartz tourmaline veins, ranging from 0.1 to 6.5 metres in thickness, extending from surface to 150-metres down the hole.
The 2012 exploration campaign will also include drill testing and trenching of high-priority targets lateral to the Eau Claire gold deposit, as well as property-scale surface exploration in an effort to discover additional deposits elsewhere on the project.
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.