Eastmain Resources Inc.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Eastmain Resources Inc. engages in exploration and development of gold, silver, copper, nickel, and zinc deposits in Canada. Eastmain is a strong explorer focused on the Eastmain River area of James Bay, Quebec. The Company is actively exploring for gold and base metal deposits within the Opinaca / La Grande subprovinces. It owns 100% of the Eau Claire gold deposit (Clearwater Project) and the Eastmain gold deposit. Eastmain also holds interest in 12 projects within the district of James Bay, including the Éléonore South property, where a new sedimentary-gold discovery has been found in a similar geologic setting to Goldcorp's Roberto deposit. Eastmain is eligible to receive a combined tax credit and mining duties refund equal to 50% of its eligible mineral exploration expenditures in Quebec.

PROJECT IN HAND

(1) Clearwater Project, James Bay, Quebec (100% Eastmain)

Eastmain Resources Inc. owns 100% interest in the Clearwater Property, host to one of three known gold deposits in the James Bay region of Quebec, the Eau Claire gold deposit. 

The Eau Claire gold deposit consists of multiple, parallel veins of quartz and tourmaline that have been traced for 1.5 km in length and extended to 880 metres depth. The deposit is open in all directions. High-grade veins exposed at surface. Surface trenching and diamond drilling have outlined an indicated and inferred gold resource in excess of 4 million tones, containing approximately one million ounces of gold. There is potential to expand resource size and grade.

Highlight of the project:

• 2008 drill program planned

• Metallurgical and Assay program underway

• 2007 drill program - 53 holes completed

180 ore intercepts, 55 with VISIBLE GOLD

• O VG samples average grade 70.74 g/t gold or 2.07 ounces/ton

• O Up to 2,540 g/t gold or 74.17 ounces/ton gold

• More than 1,000 ounces gold per vertical metre

• Indicated resource - 313,191 ounces gold;

  1,029,332 tonnes @ 9.46 g/t gold (8.18 g/t cut)

• Inferred resource - 679,464 ounces gold;

  3,049,660 tonnes @ 6.93 g/t gold (6.53 g/t cut)

• Deep drilling intersects high-grade gold:

  Hole 38 - 1.24 oz/ton gold at more than 1,300 ft (400 m) depth
  Hole 44 - 1 oz/ton gold at more than 1,900 ft (600 m) depth
  Hole 56 - 1.22 oz/ton at 2,887 ft (880 m) depth

• High-grade veins from 450 West Zone at surface include:

  JQ Vein - 0.89 oz/ton over a length of 550 ft, (30.4 g/t gold / 167 m x 1.3 m)
  P Vein - 0.53 oz/ton over a length of 450 ft, (18.1 g/t gold / 138 m x 1.23 m)
  R Vein - 1.70 oz/ton over a length of 85 ft, (58.2 g/t gold / 26 m x 1.08 m)
  Composite average 23.5 g/t gold or 0.70 ounce/ton gold

(2) Eastmain & Opinaca Greenstone Belt Projects, Quebec - (New gold mining camp)

Éléonore South Property (Eastmain-Goldcorp-Azimut Exploration Inc. Joint Venture; Eastmain project operator), Northern James Bay, Quebec

• Goldcorp funding project to bankable feasibility - 2008 First Phase drill program in progress

• Property immediately adjacent to multi-million-ounce Roberto gold discovery at Éléonore

• A New Sedimentary-Gold Discovery has been found in a similar geologic setting to Goldcorp's Roberto deposit - up to 37.8 g/t Au; including 20 g/t Au/2 m, 10.9 g/t Au/3 m and 5.33 g/t Au/8 m in Roberto-type rocks

• Mine horizon rock formations extend into ÉléonoreSouth Property

• 10-km-long gold geochemical anomaly (up to 1.25 g/t Au in soils) - defined by 10,000 samples

• IP, Trenching, Rock samples - 920 of 4,100 one-metre-long channel samples range from more than 10 ppb to 37.8 g/t Au

Eastmain Mine (100% Eastmain Resources) $40 Million in previous expenditures

• 255,750 ounces measures and indicated - Open at depth; multiple gold occurrences on the property

• Contact and hangingwall gold targets similar to multi-million-ounce Detour Gold deposit

• Bonanza gold grades - A zone: 13.4 g/t Au across 9.22 m; B zone: 66.1 g/t Au across 9.90 m

• Q2 2008 - 10,000 metre drill program to test 22 regional targets and at depth below mine workings

• Ramp and two levels developed underground; Permanent camp, Airstrip and 20-year mining lease

• $16-per-ounce gold acquisition cost; Net Asset Value = $91.2 Million at $750 gold price

Azimut D Project - Eastmain option to earn 65%; Éléonore area property with multiple gold anomalies; Roberto-type mine geology

Dyna Project (100% Eastmain) - Éléonore area property with multiple gold anomalies in soil and rock; Roberto-type mine geology

Ruby Hill Project (100% Eastmain) - adjacent to Eastmain mine property with drill ready targets

• Regional VTEM survey detected high-priority targets coincident with key Eastmain mine geology; potential for gold, Ni-Cu discovery

Reservoir Project (100% Eastmain) - Large copper-gold system southwest of Éléonoregold discovery. Drill intercepts from 1.79 g/t Au over 21 m and 5.35 g/t Au across 6 m. Surface channel samples up to 5% copper, 36 g/t gold and 52 g/t silver.

Lac Elmer Project (50% Eastman; 50% Barrick Gold Corporation) - 50-sq.km property at western end of Eastmain River greenstone belt. Similar to 30-million-ounce Hemlo gold mine. Hosts kilometric-size mineralized horizon enriched in silver-gold-copper and zinc. Multi-ounce silver and ounce-level gold assays in surface showings. Up to 50 g/t silver and 0.5 g/t gold across 30 m in drilling.

Radisson Project (100% Eastmain) - 83.2 sq.km property covering 17-km-long trend of prospective greenstone belt. Multiple Au ± Cu rock showings and zones up to 350 m long with up to 9.8 g/t Au in grab sample; 2006 VTEM & Magnetic surveys.

Lac Hudson Project (100% Eastmain) - Central Eastmain River Greenstone Belt, 5 km south of Reservoir. Gold and base metals in iron formation. Prospective for sedimentary-hosted gold deposit. 2006 VTEM & Magnetic surveys.

Road King Project (100% Eastmain) - (109 claims; 56 sq.km). Property covers 10-km-long volcanic-sedimentary rocks prospective for sedimentary-hosted gold deposits. Au and Zn soil anomalies with VTEM conductors.

(3) Ontario Exploration:

Abitibi Mega TEM Project (70% Eastmain; 30% Xstrata Copper Canada Inc., formerly Falconbridge)

• Area: Abitibi belt: $120 Billion past metal production; more than 200 million ounces gold, 900 million ounces silver, 8.5 million tonnes copper, 20 million tones zinc

• Base meals & gold deposit exploration within trucking distance of Xstrata smelter facility

• 2007: 5 priority targets surveyed with HeliGEOTEM EM system

• 2008 - Drilling high priority nickel target - 19 m @ 0.70% Cu-Ni.

(4) Diamond and Uranium Properties:

• Uranium stock holdings: 508,836 shares of Western Uranium Corp. (cost $0.13/share; value $1.3 Million)

• Diamond stock holdings: 420,000 shares of Dianor Resources Inc. (Acquisition cost $0; value $0.14 Million)

(5) Joint Venture Partnerships: (JV/Alliance/Royalty agreements)

Senior Mining Companies:
Barrick, BHP Billiton (International Royalty Corporation), Goldcorp, Newmont, Xstrata Copper (formerly Falconbridge), SOQUEM

Junior Exploration Companies: (JV/Option agreements)
Azimut Exploration Inc., Dianor Resources Inc.

MANAGEMENT

Eastmain Resources Inc.'s professional management team, directors and advisory board have experience in different areas.

Donald J. Robinson, Ph.D., P.Geo., President, CEO
Dr. Robinson has been President, CEO and Director of Eastmain since 1994. Dr. Robinson formerly operated a private consulting firm, Robinson Exploration Services Limited ("RESL"), which specialized in the exploration of base and precious metals within Canada and Australia from 1987 to 1994. For two years he managed the exploration of a gold-rich VMS discovery at Lewis Ponds, Australia for Tri Origin Exploration Ltd. Prior to forming RESL, Dr. Robinson supervised an integrated base and precious metal program, on behalf of Westmin Resources Ltd. from 1981 to 1987, which led to the discovery of the Eau Claire gold deposit at Clearwater. Dr. Robinson earned a Ph.D. degree from the University of Western Ontario in 1982. His thesis, based on the Redstone nickel-copper deposit located near Timmins, Ontario was sponsored by BHP Billiton (formerly Utah Mines Ltd.). Dr. Robinson devotes 100% of his time to affairs relating to the Corporation.

James Bezeau, BBA, CMA, CFO
Mr. Bezeau appointed Chief Financial Officer in September 2004, brings 30 years of financial, accounting and managerial experience to the Company. Currently Mr. Bezeau is the Director of Finance for a number of organizations including Community Living Guelph-Wellington.

Catherine I. Butella, B.Sc. (Geology-Biology), Exploration Manager
Ms. Butella has been Exploration Manager of Eastmain since 1996. Ms. Butella has over 20 years of diversified experience in the exploration of uranium, base and precious metals and PGEs. Ms. Butella was a nominee for the PDAC's "Prospector of the Year Award" in 1983 for the discovery of a barite deposit located in the Hemlo Mining Camp.

Jay Goldman, B.A., MBA, LL.B., Corporate Secretary
Mr. Goldman is a partner in the law firm Goodman & Carr, became Secretary of Eastmain in 1998. From 1993 to 2000, Mr. Goldman was a partner in the law firm Beach Hepburn. Prior to 1993, Mr. Goldman was an associate at the law firm of Tory Tory DesLauriers & Binnington.

Michael J. Perkins, Project Manager
Mr. Perkins (Diploma of Geology, Sir Sandford Fleming College) has over 20 years experience in mineral exploration. Mr. Perkins has consulted for a number of both Senior and Junior Explorers in Canada.

Frank R. Kendle, B.Sc. (Geology), Data Specialist
Mr. Kendle has been working with Eastmain since 1997 as the Company's data specialist. Mr. Kendle has over 15 years experience in mining exploration within Canada and South America where he performs contract geological services for a number of clients.

Ian Bryans, B.A., Director, Audit Committee

John A. Hansuld, Ph.D., Director, Audit Committee

Richard W. Hutchinson, Ph.D., Director

William L. Koyle, Director, Audit Committee

Neil Hillhouse, Ph.D., Special Advisor

Chad C. Steward, Investor Communications

NEWS UPDATE

On September 11, 2008, Eastmain Resources Inc. provided an update on 2008 drilling at its wholly owned Eau Claire gold deposit located in James Bay, Northern Quebec. Current drilling has intersected visible gold within 50 quartz-tourmaline veins in 23 of 29 drill holes (ER08-113 to ER08-141). These holes have intersected the main group of veins below the 2007 drilling. A new vein set, also containing visible gold, (T-Vein series) has now been discovered north of the main deposit.

On April 2, 2008, Eastmain Resources Inc. announced the initial results for the visible gold samples from Eau Claire deposit drilling completed in December 2007. The average grade of 76 half-metre drill core samples containing visible gold is 70.74 g/t gold or 2.07 oz/t. The gold content of these samples ranges from 0.5 to 2,540 g/t gold (74.2 oz/t).

Exceptional assay results were intersected in the recent drilling. Hole ER07-87 averaged 136.8 g/t gold or 4 oz/t over a 2 m interval within the P Vein and hole ER07-98 cut a one-metre section of the R Vein, which assayed 1,313 g/t gold or 38.14 oz/t.

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