Wednesday, February 10, 2010
Vancouver, BC - February 10, 2010: Eastfield Resources Ltd. "Eastfield" (TSX-V: ETF) reports that it has received notice that it's Crowsnest and Howell gold exploration projects, which are located within a proposed Flathead Valley protected area, will no longer be open to mine development. The Flathead Valley has a long history of mineral exploration going back more than a century. In 1998 Eastfield negotiated option to purchase agreements with a private corporation for the Crowsnest project, and with Cominco Limited (now Teck Corporation) and Placer Dome Inc. (now Goldcorp Inc.) for the Howell project. Exploration on these projects has been more or less continuous since that time. In 2009 work at the Crowsnest project identified a mineralized gold bearing structure in several trenches and included a drill intercept of 19.03 g/t gold over a width of 6.1 metres. Eastfield currently has proposed exploration programs for both the Howell and Crowsnest projects in review with the Ministry of Energy, Mines and Petroleum Resources and was in dialogue with this office about these permits as recently as last week including a proposal to drill 56 drill holes at Crowsnest in 2010. In 2008 Eastfield entered into an agreement with Max Resource Corp. that would have allowed Max to earn a 60% interest in both projects by making staged exploration expenditures, cash payments and share issuances over a four year period. Eastfield will pursue the BC government for compensation.Eastfield would like to reassure its shareholders that it remains well financed and will continue to actively explore in other regions of BC that remain mining friendly. Eastfield is a prospect generator whose business strategy involves securing third party exploration financing on its projects. Eastfield has seven projects in British Columbia and one in Nevada. Currently optioned projects include Zymo, optioned to NGEx Resources Inc. (TSX: NGQ); Okeover, optioned to Prophecy Resource Corp. (TSX-V: PCY); Crowsnest and Howell, optioned to MAX Resource Corp. (TSX-V: MXR); Kilometre 26, optioned to Oroandes Resource Corp. (TSX-V: OAR); and Iron Lake, optioned to Cobre Exploration Corp. (TSX-V: CKB-H).Bill Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.J.W. Morton, P.Geo.CEO and DirectorEastfield Resources Ltd.Contact: Paul Way, Business Development Manager (604) 681-7913 or Toll Free: 888-656-6611The 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=384675
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.