Eastfield Resources Ltd

Published : February 21st, 2012

Announces New Gold and Nickel Targets at Indata

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Keywords :   Copper | Gold | Iron | Magnesium | Molybdenum | Nickel | Silver |

Tuesday, February 21, 2012
Eastfield Resources Announces New Gold and Nickel Targets at Indata


Vancouver, BC, February 21, 2012, Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) and Oceanside Capital Corporation "Oceanside" (TSX-V: OCC) wish to report on the status of exploration being undertaken at the Indata Project located approximately 130 kilometres to the northwest of Fort St. James in central British Columbia.

The property consists of 6,157 hectares of claims covering a complex geological setting adjacent to the Pinchi Fault System. Two types of mineralization have historically been explored at Indata; gold-silver veins and porphyry copper mineralization. A third type of mineralization recently become an additional focus; serpentinite hosted nickel which is interpreted to have similarities to what is being explored by First Point Minerals Corp. (TSX-V: FPX) and Cliffs Natural Resources Inc. (NYSE: CLF) on the Decar property and by Fort St. James Nickel Corporation (TSX-V: FTJ) at Kilometer 26 (both properties are located approximately 50 kilometres south of Indata).

The current program was initiated in 2010 and completed in 2011. It entailed 13.5 km of grid establishment followed by soil sampling and induced polarization surveying. Work addressed all three distinct target types in three areas of the property. Induced polarization identified five new targets similar in character to responses over previously drilled high grade gold silver veins which have included intercepts to 47.26 g/t gold over 4.0 metres. A new induced polarization geophysical line completed on the east side of Albert Lake and to the west of previous surveying indicates a substantial anomaly south of historic porphyry copper drill tested mineralization. Numerous soil samples in this area exceed 1,000 ppm Cu with several exceeding 5,000 ppm.

A new area of interest was discovered in the southern region of the property following up a reconnaissance soil line established by Imperial Metals Corporation (TSX: III) ("Imperial Metals") in 1983. This area, south of historic grids, had returned numerous significant nickel and magnesium values in soil (to 1,227 ppm Ni and 9.4% Mg) over a 750 metre interval in an area underlain by serpentinite. In 2011 induced polarization and magnetic surveys plus rock sampling were completed in this area. Three rock samples returned ≥0.20% nickel from which two samples, one rubble and one outcrop, were examined by SGS Laboratories for magnetically recoverable nickel determinations. Results indicate that one sample from outcrop has 52.4 % of its total nickel of 0.21% in a magnetically recoverable form (0.11% recoverable [alloy] nickel).

The company is currently filing an exploration permit to construct road accessible drill stations on a number of the new targets including the new nickel area of interest.

The Indata property is owned 90.7% by Eastfield Resources Ltd. and 9.3% by Imperial Metals. Oceanside has an option agreement with Eastfield that grants it the option to earn a 60% interest in the property by paying the aggregate sum of $160,000 cash, issuing an aggregate of $120,000 of shares of Oceanside and by expending an aggregate of $2,000,000 on the Indata Property over a three-year period ending on December 31, 2013.

J.W. (Bill) Morton, PGeo, a qualified person for the purposes of National instrument 43-101, has read and taken responsibility for this news release.

Bill Morton, P.Geo.
CEO and Director
Eastfield Resources Ltd.

Contact:
Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: 888-656-6611


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 holds 20,000,000 shares of Fort St. James Nickel (TSX-V: FTJ) which will be distributed to shareholders in early 2012 pro-rata in accordance with the number of common shares of Eastfield they hold. Eastfield trades on the TSX Venture exchange under the symbol "ETF". For more information, please visit the company's website at www.eastfieldresources.com.

The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

You can also view this News Release on our website at:
http://www.eastfieldresources.com/s/NewsReleases.asp?ReportID=508126

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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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
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