Eastfield Resources Ltd

Published : April 03rd, 2012

Announces Distribution of Shares of Fort St. James Nickel Corp. Received From 100% Sale of Kilometre

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Keywords :   Copper | Gold | Iron | Market | Molybdenum | Nickel |

Monday, April 02, 2012
Eastfield Announces Distribution of Shares of Fort St. James Nickel Corp. Received From 100% Sale of Kilometre 26 Project

Vancouver, BC, April 2, 2012, Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) (the "Company") is pleased to announce that the hold period for the 20,000,000 shares (the "Payment Shares") of Fort St. James Nickel Corp. (TSX-V: FTJ) ("FTJ") which it had received in early December 2011, in consideration for the acquisition by FTJ of Eastfield's residual interest in the Kilometre 26 property, has now expired.

As previously agreed with the TSX Venture Exchange (the "Exchange") and FTJ, the Company had agreed that it would, forthwith upon expiration of the four month and one day hold period from the date of issuance of the Payment Shares, distribute the Payment Shares to the Company's shareholders pro-rata in accordance with the number of common shares of the Company held by each such shareholder. The Company presently has 44,794,919 common shares issued and outstanding.

As directed by the Exchange, the ex-dividend date for determining the ownership of shares of the Company which will be entitled to receive FTJ shares, will be the close of trading on April 4, 2012, and the shares of the Company will commence trading ex-dividend at market open on April 5, 2012. The record date for the determination will be April 10, 2012 and the payable date for distribution of the FTJ shares will be April 12, 2012.

For further information, please contact:

Donald D. Sharp, C.A.
Director and Chief Financial Officer
Tel. 604-681-7913
Fax 604-681-9855

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

About Eastfield Resources:

Eastfield is a Canadian mineral exploration company focused on the discovery of large gold and copper deposits; it currently has projects in British Columbia and in Nevada. Current projects include a 40% ownership in the Okeover copper-molybdenum project with 60% partner Prophecy Resource Corp. (TSX-V: PCY) and a 100% interest in the Tonopah gold project in Nevada. Projects currently optioned out include Zymo, optioned to Bearing Resources Ltd. (TSX-V: BRZ); Indata, optioned to Oceanside Capital Corp. (TSX-V: OCC); and Iron Lake, optioned to Calico Exploration Corp. (TSX-V: CKB). Eastfield trades on the TSX Venture exchange under the symbol "ETF". For more information, please visit the company's website at www.eastfieldresources.com.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

You can also view this News Release on our website at:
http://www.eastfieldresources.com/s/NewsReleases.asp?ReportID=516515

Eastfield Resources Ltd

EXPLORATION STAGE
CODE : ETF.V
ISIN : CA27724D1096
CUSIP : 27724D109
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Eastfield is a exploration company based in Canada.

Eastfield holds various exploration projects in Canada.

Its main exploration properties are CROWSNEST, HOWELL, ZYMO, KILOMETRE 26, INDATA, TONOPAH (THREE HILLS), IRON LAKE - EASTFIELD / LYSANDER and OKEOVER (EASTFIELD) in Canada.

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Corporate Presentations of Eastfield Resources Ltd
9/26/2007CEO Presentation
Annual reports of Eastfield Resources Ltd
Annual report 2007
Project news of Eastfield Resources Ltd
8/28/2013Commences Exploration at Iron Lake, BC
8/14/2012Acquires Two New Copper-Gold Projects
7/26/2012(Zymo)Announces Drilling Program Start-up on Zymo Copper-Gold Proj...
4/3/2012(Kilometre 26)Announces Distribution of Shares of Fort St. James Nickel Co...
2/21/2012(Indata)Announces New Gold and Nickel Targets at Indata
12/8/2011(Zymo)Reports Zymo Drill Results
11/30/2011(Kilometre 26)Provides Update on Drilling and Sale of Kilometre 26
9/12/2011(Kilometre 26)Announces 100% Sale of Kilometre 26 Project
8/25/2011(Zymo)Announces Commencement of Drilling at the Zymo copper-gold p...
8/4/2011(Zymo)Announces Commencement of $2 Million Exploration Program at ...
6/20/2011(Zymo)Announces Option Granted on the Zymo copper-gold project, BC...
5/19/2010(Indata)Signs Agreement to Option Out Indata Gold-Copper Project, BC
5/3/2010(Zymo)The Return of the Zymo Copper-Gold Project
9/14/2009(Zymo)Drilling at Zymo Copper-Gold Project Significantly Expands M...
7/27/2009(Howell)Drill Program Planned at Eastfield's Crowsnest and Howell Go...
7/15/2009(Zymo)Crew Mobilized to Zymo Gold Copper Project, BC
2/24/2009(Kilometre 26)Acquires Gold Property in British Columbia
1/7/2009(Indata)Intercepts 8.20 g/t Gold Over 0.3 m, 209.0 g/t Silver Over 0...
11/21/2008(Howell)Intersects 22 metres of 0.78 g/t Gold at Howell, BC
11/13/2008(Zymo)Drilling Intersects 72 Metres of 0.72% Copper and 0.54 g/t G...
9/9/2008(Zymo)Drilling Underway At The Zymo Copper-Gold Project
7/22/2008(Howell)Drilling Begins at Howell Gold Project in British Columbia
7/2/2008(Zymo)Crew Mobilized to Zymo Copper-Gold Property, BC
5/28/2008(Ok Property)Drilling Targeted at Expanding Copper-Molybdenum Resource Re...
4/7/2008(Ok Property)New Copper/ Molybdenum/ Rhenium Mineralization Intersected a...
1/17/2008(Zymo)New Copper-Gold Discovery On Zymo Property
1/7/2008(Ok Property (powell River))Announces Completion of Drilling at the Okeover Copper/Molyb...
9/17/2007(Lorraine - Jajay)Drilling Underway at Jajay-Lorraine Project
8/22/2007(Indata)Discovers New Gold Mineralization at Indata
Corporate news of Eastfield Resources Ltd
7/14/2016Eastfield Resources to Commence Field Work
4/29/2016Lorraine Copper Acquires Copper Project in BC
4/7/2016Eastfield Resources Corporate Update
1/16/2014Cambridge and Roundup invitation
10/17/2013on Recent Activities, BC
5/3/2013Outlines New Copper-Molybdenum Anomaly at Okeover
1/17/2013Cambridge and Roundup invitation
10/22/2012(Zymo)Announces Drilling on the Zymo Copper-Gold Project, BC Hole...
5/16/2012Provides Corporate Update
8/25/2011(Kilometre 26)Provides Update on Kilometre 26 Program, BC
5/27/2011(Kilometre 26)Announces Commencement of Kilometre 26 Program, BC
2/11/2010Responds to the BC Government - No Mining in the Flathead Va...
2/19/2009Shareholder Update
7/28/2008Drilling Expands the North Lake Copper-Molybdenum Zone at Ok...
6/13/2008Options Iron Lake Project
4/11/2008 Project Update and Plans for 2008
4/9/2008Eastfield/Lysander Plans Of Arrangement -- Spin-Off Of Lorra...
1/8/2008 Shareholders Approve Spin Off Plan
9/10/2007Okeover Drilling Plans
7/30/2007Releases Drill Results from Okeover Property
7/16/2007Jajay-Lorraine Project Underway
6/8/2006New property added to the Jajay-Lorraine project-2006 progra...
5/3/2006Indata project optioned to Redzone Resources Ltd.
4/5/2006(Okeover (eastfield))OK Copper-Molybdenum project agreement renegotiated
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