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Eastfield Resources Ltd

Publié le 19 mai 2010

Signs Agreement to Option Out Indata Gold-Copper Project, BC

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Tuesday, May 18, 2010
Eastfield Signs Agreement to Option Out Indata Gold-Copper Project, BC

Vancouver, BC, May 18, 2010 - Eastfield Resources Ltd. "Eastfield" (TSX-V: ETF) is pleased to announce that it has signed a letter agreement dated May 14, 2010 with Oceanside Capital Corp. (TSX-V: OCC.P) in which Oceanside has been granted an option to acquire a 60% interest in the Indata property, located in the Omineca Mining Division, British Columbia.

The Indata Property

The Indata property is located in north central British Columbia north of the regional centre of Fort St. James, BC and consists of 15 claims covering 3,060 hectares. The property, with both a lode gold and porphyry copper target, has been owned by Eastfield since 1986 on claims that were staked by Imperial Metals Corp. (TSX-V: III) in 1983 (Imperial retains a 10.1% working interest in the property). Cumulative exploration expenditures completed by Eastfield and its partners in this project since 1987 total $2.3 million dollars, including $351,000 in 2008.

The Indata property is situated in a complex geological setting adjacent to the Pinchi fault. Two styles of mineralization are known to occur on the property:

1.) Lode gold of a "Mother Lode" characteristic (similar to the Mother Lode district in California), probably related to the Pinchi Fault; and
2.) "Porphyry Copper" style mineralization, possibly related to a Cretaceous aged intrusive event or alternatively to Triassic-Jurassic plutonism as is the case at Kwanika Creek located ten kilometers to the north.

Previous drill highlights at Indata include hole 1988-11 which intersected 4.0 metres grading 47.26 g/t gold and hole 1998-4, located 1,500 metres to the west of 1988-11 which intersected 145 metres grading 0.20% copper including 24 metres grading 0.37% copper.

A robust multi-element geochemical anomaly, identified in 2007 on the north-eastern edge of the grid, has a signature which may reflect a precious metal vein or vein system and has not yet been geophysically surveyed or drill tested. A permit has been authorized to complete the line cutting and induced polarization surveying in this area and to complete two reconnaissance lines five kilometers to the south. A "table top" archeological assessment has been requested as a precursor to permitting road construction or drilling and is currently underway. Indata became road accessible in 1994 following the completion of 18 kilometers of all weather access road into the heart of the property.

Terms of Transaction

Under the terms of the letter agreement, Oceanside has been granted the option to earn a 60% interest in the mineral claims by paying to Eastfield the aggregate sum of $160,000, by issuing and allotting to Eastfield an aggregate of $120,000 of fully paid non-assessable 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. The terms of the Transaction are subject to the approval of the TSX Venture Exchange.

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 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 seven projects in British Columbia and one in Nevada. Current projects include an option to earn a 100% interest in the Zymo gold-copper project; 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 Kilometre 26, optioned to Oroandes Resource Corp. (TSX-V: OAR); Indata, optioned to Oceanside Capital Corp. (TSX-V: OCC.P) (subject to TSX Venture Exchange approval); Iron Lake, optioned to Cobre Exploration Corp. (TSX-V: CKB-H) and Crowsnest and Howell, optioned to MAX Resource Corp. (TSX-V: MXR). 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. 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.

You can also view this News Release on our website at:
http://www.eastfieldresources.com/s/NewsReleases.asp?ReportID=400438

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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Présentations des Compagnies de Eastfield Resources Ltd
26/09/2007CEO Presentation
Rapports annuels de Eastfield Resources Ltd
Annual report 2007
Projets de Eastfield Resources Ltd
28/08/2013Commences Exploration at Iron Lake, BC
14/08/2012Acquires Two New Copper-Gold Projects
26/07/2012(Zymo)Announces Drilling Program Start-up on Zymo Copper-Gold Proj...
03/04/2012(Kilometre 26)Announces Distribution of Shares of Fort St. James Nickel Co...
21/02/2012(Indata)Announces New Gold and Nickel Targets at Indata
08/12/2011(Zymo)Reports Zymo Drill Results
30/11/2011(Kilometre 26)Provides Update on Drilling and Sale of Kilometre 26
12/09/2011(Kilometre 26)Announces 100% Sale of Kilometre 26 Project
25/08/2011(Zymo)Announces Commencement of Drilling at the Zymo copper-gold p...
04/08/2011(Zymo)Announces Commencement of $2 Million Exploration Program at ...
20/06/2011(Zymo)Announces Option Granted on the Zymo copper-gold project, BC...
19/05/2010(Indata)Signs Agreement to Option Out Indata Gold-Copper Project, BC
03/05/2010(Zymo)The Return of the Zymo Copper-Gold Project
14/09/2009(Zymo)Drilling at Zymo Copper-Gold Project Significantly Expands M...
27/07/2009(Howell)Drill Program Planned at Eastfield's Crowsnest and Howell Go...
15/07/2009(Zymo)Crew Mobilized to Zymo Gold Copper Project, BC
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
22/07/2008(Howell)Drilling Begins at Howell Gold Project in British Columbia
02/07/2008(Zymo)Crew Mobilized to Zymo Copper-Gold Property, BC
28/05/2008(Ok Property)Drilling Targeted at Expanding Copper-Molybdenum Resource Re...
07/04/2008(Ok Property)New Copper/ Molybdenum/ Rhenium Mineralization Intersected a...
17/01/2008(Zymo)New Copper-Gold Discovery On Zymo Property
07/01/2008(Ok Property (powell River))Announces Completion of Drilling at the Okeover Copper/Molyb...
17/09/2007(Lorraine - Jajay)Drilling Underway at Jajay-Lorraine Project
22/08/2007(Indata)Discovers New Gold Mineralization at Indata
Communiqués de Presse de Eastfield Resources Ltd
14/07/2016Eastfield Resources to Commence Field Work
29/04/2016Lorraine Copper Acquires Copper Project in BC
07/04/2016Eastfield Resources Corporate Update
16/01/2014Cambridge and Roundup invitation
17/10/2013on Recent Activities, BC
03/05/2013Outlines New Copper-Molybdenum Anomaly at Okeover
17/01/2013Cambridge and Roundup invitation
22/10/2012(Zymo)Announces Drilling on the Zymo Copper-Gold Project, BC Hole...
16/05/2012Provides Corporate Update
25/08/2011(Kilometre 26)Provides Update on Kilometre 26 Program, BC
27/05/2011(Kilometre 26)Announces Commencement of Kilometre 26 Program, BC
11/02/2010Responds to the BC Government - No Mining in the Flathead Va...
19/02/2009Shareholder Update
28/07/2008Drilling Expands the North Lake Copper-Molybdenum Zone at Ok...
13/06/2008Options Iron Lake Project
11/04/2008 Project Update and Plans for 2008
09/04/2008Eastfield/Lysander Plans Of Arrangement -- Spin-Off Of Lorra...
08/01/2008 Shareholders Approve Spin Off Plan
10/09/2007Okeover Drilling Plans
30/07/2007Releases Drill Results from Okeover Property
16/07/2007Jajay-Lorraine Project Underway
08/06/2006New property added to the Jajay-Lorraine project-2006 progra...
03/05/2006Indata project optioned to Redzone Resources Ltd.
05/04/2006(Okeover (eastfield))OK Copper-Molybdenum project agreement renegotiated
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