Eastmain Resources Inc.: Clearwater Project-Filling the Gap (ccnm)

TORONTO, ONTARIO--(Marketwire - Nov. 7, 2011) -Eastmain Resources Inc. (TSX:ER) is pleased to announce more drilling and trenching results from its wholly-owned Clearwater Project, located in James Bay Québec. Assay data from holes 308, 309 and 314 confirm high-grade gold within the Gap Zone. Assays received from holes 301 and 310 demonstrate that gold resources within Veins 10 and 12 continue to expand. Abundant visible gold (VG) was also recently observed in both drilling and trenching of Veins 10, 12 and 16, all located within the 850 West Zone (see website for maps and photos).

VG has now been observed in 25 of 57 holes completed to date during the 2011 campaign. As in the current Eau Claire gold resource, which is centred on the 450 West Zone, over 20 veins and alteration zones have been detected within the 850 West Zone. The surface footprint of the gold-tellurium mineralized system at Clearwater has been expanded by over 600 metres in length over the past six months (see 850 West Long Section).

Assay data continues to confirm wide and high-grade gold intervals in multiple veins located within both the 850 West Zone and Gap Zone, well outside the limits of the previous gold resource for the Eau Claire deposit.

Gap Zone

To date three drill holes collared within the Gap Zone, the area between the 450 and 850 West Zones, have intersected significant gold-bearing structures. Drill hole 308 intersected a 16.5-metre-wide interval of T Veins, which assayed 5.8 g/t Au at a depth of 262.0 metres, and includes 25.1 g/t Au and 54.2 g/t Te over 3.5 metres. Drill hole 309 intersected the Stephanie Vein (VSL) at a down-hole depth of 266.0 metres. This intersection contains 15.5 g/t gold (Au) across a 3.5-metreinterval, including 35.7 g/t Au and 45.5 g/t tellurium (Te) over 1.5 metres. Hole 314, located in the middle of the Gap Zone, also intersected a two metre-wide interval of Stephanie Vein, which assayed 19.2 g/t Au and 88.8 g/t Te, including up to 53.1 g/t Au and 134.5 g/t Te (Table 1). Assays are pending from numerous drill holes straddling the gap between the 450 West and 850 West Zones.

850 West Zone

Recent channel sampling from the Rebecca Zone ("Soccer Field") has identified a 10-metre-wide interval containing stacked quartz-tourmaline veins and altered rock. Two quartz-tourmaline veins in this interval, interpreted as Vein 10, contain 71 grains and 57 grains of VG respectively. In addition, over 50 grains of VG with accessory tellurides have been observed in hole 335, across a 6.5-metre-wide interval of Vein 16, at a depth of 95.3 metres down hole.

Drill hole 301 intersected a 10-metre-wide interval of V12 grading 2.14 g/t Au and a 9.0-metre width of V10 containing 1.24 g/t Au, which includes 4.66 g/t Au over 4.0 metres. Hole 310 intersected a 13-metre-wide gold-bearing interval at 3.38 g/t Au from within Vein 12, which includes a high-grade section containing 35.7 g/t Au and 45.5 g/t Te (Table 1).

The 2011 program objectives are to expand the near-surface gold resources and to search for additional extensions to the Eau Claire deposit. Drilling will continue in the 850 West and Gap Zones at a 25-by-25-metre drill spacing. The 850 West Zone is open laterally and at depth. 54 drill holes, totaling 22,500 metres of a proposed 25,000-metre program, have been completed to date.

According to Dr. Robinson, President and CEO of Eastmain, "Drilling has confirmed that there are high-grade, gold-bearing veins in the Gap Zone, suggesting that at least locally, both the 450 West and 850 West Zones are connected, and may be reflective of a much larger gold-tellurium system at Clearwater. Although the geometry of the two zones differs, the metal signature and mineralogy of veins within the zones are the same. We are very encouraged by the amount of visible gold observed in both trenching and drilling of near surface veins. Results to date from the 2011 program appear to support the expansion of high grade resources amenable to potential open pit extraction. There is also evidence of significant exploration potential further west from the 850 West Zone, which will be a priority target in the next phase of drilling."