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Eastfield Resources Ltd

Publié le 09 avril 2008

Eastfield/Lysander Plans Of Arrangement -- Spin-Off Of Lorraine Copper Corp. Effective Date Set

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======================================================================
Eastfield/Lysander Plans Of Arrangement - Spin-Off Of Lorraine
Copper Corp. Effective Date Set
======================================================================

Eastfield Resources Ltd. (TSX-V: ETF) ("Eastfield") and Lysander
Minerals Corporation (TSX-V: LYM) ("Lysander") announce that the TSX
Venture Exchange (the "Exchange") has given its final approval to the
plans of arrangement filed by each of Eastfield and Lysander, which
provide for the listing of the shares of a new company, Lorraine Copper
Corp. ("Lorraine"). The shares of Lorraine will commence trading as a
Tier 2 company on the Exchange under the TSX-V trading symbol LCC upon
completion of the listing requirements of the Exchange.

Under the plans of arrangement, each of Eastfield and Lysander shall
contribute their respective interests in the
Jajay-Lorraine-Jan-Tam-Misty Property located in the Omineca Mining
Division of British Columbia (the "Lorraine-Jajay Property") and
$150,000 of working capital (for a total of $300,000) to Lorraine. The
Lorraine-Jajay Property is host to alkalic porphyry copper-gold-silver
deposits, and is located 280 km northwest of Prince George, BC. The
Lorraine-Jajay Property is currently being explored by Teck Cominco
Limited ("TCL") under an option agreement whereby TCL may earn up to a
65% interest in the Lorraine-Jajay Property. Each of Eastfield and
Lysander shall retain their respective interests in their other mineral
properties.

The effective date of the Eastfield plan of arrangement has been set at
April 16, 2008, which has also been determined as the record date for
Eastfield shareholders to participate in the plan of arrangement.
Eastfield shareholders of record on April 16, 2008, will subsequently
receive approximately 0.451 of one common share of Lorraine for every
share of Eastfield that they own, while still retaining their Eastfield
shareholdings. Purchasers of Eastfield shares with settlement after the
effective date will not receive Lorraine shares pursuant to the plan of
arrangement. Take note that standard settlement terms for most
brokerage firms are three business days following the date of purchase.
The Eastfield plan of arrangement is more fully described in an
Information Circular dated October 23, 2007 in connection with a
special general meeting of shareholders which was held on November 27,
2007.

The effective date of the Lysander plan of arrangement has been set at
April 16, 2008, which has also been determined as the record date for
Lysander shareholders to participate in the plan of arrangement.
Lysander shareholders of record on April 16, 2008 will subsequently
receive approximately 0.914 of one common share of Lorraine for every
share of Lysander that they own, while still retaining their Lysander
shareholdings. Purchasers of Lysander shares with settlement after the
effective date will not receive Lorraine shares pursuant to the plan of
arrangement. Take note that standard settlement terms for most
brokerage firms are three business days following the date of purchase.
The Lysander plan of arrangement is more fully described in an
Information Circular dated October 29, 2007 in connection with a
special general meeting of shareholders which was held on November 27,
2007.

A total of 40,000,000 common shares in the capital of Lorraine shall be
issued (20,000,000 shares, on a pro-rata basis, to the shareholders of
each of Eastfield and Lysander) in connection with the plans of
arrangement.

Eastfield and Lorraine have entered into a Warrant Exercise Agreement
whereby the holders of certain warrants of Eastfield shall be entitled
to receive, upon exercise, one common share in the capital of
Eastfield, and approximately 0.451 of one common share in the capital
of Lorraine. The exercise price of such Eastfield warrant shall be
allocated 60% to Eastfield and 40% to Lorraine. There are a total
750,000 outstanding Eastfield warrants which are exercisable at $0.22
per share until August 9, 2008.

Lysander and Lorraine have entered into a Warrant Exercise Agreement
whereby the holders of certain warrants of Lysander shall be entitled
to receive, upon exercise, one common share in the capital of Lysander,
and approximately 0.914 of one common share in the capital of Lorraine.
The exercise price of such Lysander warrant shall be allocated 60% to
Lysander and 40% to Lorraine. There are a total 250,000 outstanding
Lysander warrants which are exercisable at $0.40 per share until March
9, 2009.

Further information concerning Lorraine and the Lorraine-Jajay Property
can be found in the Listing Application dated March 14, 2008, and a
technical report on the Lorraine-Jajay Property prepared G.L. Garratt
and Joseph E.L. Lindinger, P.Geo, dated February 4, 2008, both of which
are available on SEDAR.

On behalf of Eastfield,
J. W. (Bill) Morton
President and CEO

On behalf of Lysander,
Bryce M.A. Porter
President and CEO

About Eastfield Resources:

Since its inception in 1987, Eastfield has utilized a successful
business strategy that involves securing third party exploration
financing on the majority of its projects. At present, Eastfield has
six projects located in British Columbia and one in Nevada. The Okeover
project is currently optioned by Prophecy Resource Corp. (TSX-V: PCY).
Following the spin-off, Eastfield will continue to develop its
remaining properties as well as seek new opportunities such as the
recently acquired Zymo copper and gold property in northwestern BC.

About Lysander:

Since 1992, when it recognized the potential of the area, Lysander has
assembled a significant land package within the Omenica Mining District
of British Columbia. Its focus has been on the Hogem Batholith and the
Duckling Creek complex, a large alkaline intrusive complex. Following
the spin-off of the Lorraine-Jajay Property, Lysander will continue to
hold the adjoining Pinchi, Descend and Osilinka/CAT properties.

The large Pinchi Property is believed to include a significant section,
to the north and west of the Lorraine-Jajay Property, of the Duckling
Creek complex. Exploration of the Osilinka/CAT Property has been
farmed out to a junior exploration company, which has an option to earn
a 50% interest. Following the spin-off, Lysander will have
approximately $850,000 of working capital. It will seek new
opportunities as well as develop the potential of its remaining
properties.

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.

======================================================================
Copyright (c) 2008 EASTFIELD RESOURCES LTD. (ETF) All rights reserved.
For more information visit our website at
http://www.eastfieldresources.com/ or send
mailto:info@eastfieldgroup.com
======================================================================
.

Eastfield Resources Ltd

EXPLORATEUR
CODE : ETF.V
ISIN : CA27724D1096
CUSIP : 27724D109
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Eastfield est une société d’exploration minière basée au Canada.

Eastfield détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont CROWSNEST, HOWELL, ZYMO, KILOMETRE 26, INDATA, TONOPAH (THREE HILLS), IRON LAKE - EASTFIELD / LYSANDER et OKEOVER (EASTFIELD) au Canada.

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26/09/2007CEO Presentation
Rapports annuels de Eastfield Resources Ltd
Annual report 2007
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24/02/2009(Kilometre 26)Acquires Gold Property in British Columbia
07/01/2009(Indata)Intercepts 8.20 g/t Gold Over 0.3 m, 209.0 g/t Silver Over 0...
21/11/2008(Howell)Intersects 22 metres of 0.78 g/t Gold at Howell, BC
13/11/2008(Zymo)Drilling Intersects 72 Metres of 0.72% Copper and 0.54 g/t G...
09/09/2008(Zymo)Drilling Underway At The Zymo Copper-Gold Project
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02/07/2008(Zymo)Crew Mobilized to Zymo Copper-Gold Property, BC
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07/01/2008(Ok Property (powell River))Announces Completion of Drilling at the Okeover Copper/Molyb...
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