News Release - August 8, 2007
Spanish Mountain Similar to Large Russian Deposits
Wildrose Resources (TSX-V: WRS) is pleased to report observations from their
joint venture partner's recent tour of gold deposits in Russia. The projects
have many geological similarities to Wildrose's Spanish Mountain project in
central British Columbia. The Spanish Mountain project is a joint venture
between Wildrose Resources and Skygold Ventures (TSX-V: SKV) in which
Wildrose has a 30-per-cent participating interest and Skygold has a
70-per-cent participating interest.
Skygold reported as follows:
The visit to Russia included tours of the Natalka and Degdekan deposits in
eastern Russia. The Natalka deposit has reserves in excess of 48 million
ounces of gold making it the third largest gold mine in the world. The
reserves have been classified by GKZ the Russian state agency responsible
for mineral resources and listing of reserves. Exploration and definition
drilling is continuing at Natalka over an area of 6 kilometres x 2
kilometres. Although no reserves were quoted for Degdekan, gold
mineralization has been traced by diamond drilling and trenching over an
area of at least 3 kilometres x 1.5 kilometres.
Management of projects was under the direction of Mikhail Kazamirov, General
Director of "Rudnik imeni Matrosova" and a mining engineer by trade. The
projects benefit from a large, highly skilled professional and labour
workforce. Technical work is being conducted to western standards with close
attention to quality control both in the field and in the assay lab.
At both Natalka and Degdekan gold mineralization is associated with a mixed
package of black argillites and coarser sediments very similar to the
package of rocks at Spanish Mountain. Spanish Mountain also has very similar
alteration patterns and trace element chemistry to these large Russian gold
deposits.
Mikhail Kazamirov, and his technical team gave an exceptional tour that
included access to geological and geochemical maps and sections, lab
facilities, personnel, drill core as well as outcrops and trenches. Scott
Weekes, VP Exploration for Skygold states: "I am extremely impressed by the
scale of the deposits we visited and the speed at which they are being
evaluated and developed. Mikhail Kazamirov has put a strong emphasis on
geological understanding based on extensive drilling and trenching to
develop and explore at Natalka and Degdekan. Rigorous sampling procedures
and a modern assay lab assure high quality data. Skygold is using a similar
approach at Spanish Mountain in its search for new deposits within British
Columbia. The work done at Natalka and Degdekan provide a great model for
moving forward at Spanish Mountain."
About Spanish Mountain
The Spanish Mountain property, in British Columbia's Cariboo Region is host
to a large-size gold mineralizing system which has only been partially
tested with diamond drilling. Previous work has outlined a mineralized zone
extending approximately 1.2 kilometres by 0.8 kilometre which remains open
in all directions. This year's program will test an area approximately five
times the size of the Main zone. This area has similar geochemical and
geophysical characteristics to known gold mineralization on the property.
G. L. Garratt, P.Geo. is the qualified person who has reviewed and takes
responsibility for this news release.
G.L. Garratt, P.Geo.
VP, Director
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News Release - August 2, 2007
Eastfield Resources Proposed Private Placement
Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) has entered into a fully
subscribed non-brokered private placement agreement, subject to regulatory
approval, for the sale of up to 750,000 units of Eastfield at a price of
$0.20 per unit. Each unit shall consist of one flow-through common share and
one common share purchase warrant. Each warrant shall be exercisable for the
purchase of one additional Eastfield common share for a period of one year
from the date of regulatory approval of the offering at a price of $0.22 per
share.
Total gross proceeds of the offering will be up to $150,000. The company
shall pay no fees or commissions on behalf of the placement.
The net proceeds of the offering shall be applied to exploration of the
Company's mineral exploration projects in British Columbia, principally the
Zymo project approximately 40 kilometres west of the town of Smithers, B.C.
The geology and mineralization styles at the Zymo property indicate
potential for both copper-gold-silver porphyry and porphyry related bulk
tonnage high sulphidation gold-silver-zinc replacement deposits.
This offering is subject to approval of the TSX Venture Exchange.
On behalf of the board of directors of Eastfield Resources Ltd.;
Donald D. Sharp, C.A.
Director and Chief Financial Officer
Eastfield Resources Ltd.
Contact: Paul Way, Business Development Manager
(604) 681-7913
Toll Free: 888-656-6611
pway@eastfieldgroup.com
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release. This news release may contain
certain "Forward-Looking Statements" within the meaning of Section 21E of
the United States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included herein are
forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from the Company's expectations are disclosed
in the Company's documents filed from time to time with the TSX Venture
Exchange, the British Columbia Securities Commission and the US Securities
and Exchange Commission.
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