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Wednesday, July 02, 2008
Crew Mobilized to Zymo Copper-Gold Property, BC
Vancouver, BC, July 2, 2008 - Eastfield Resources Ltd.
("Eastfield") (TSX-V: ETF) is pleased to announce that Canadian
Gold Hunter ("CGH") (TSX: CGH), part of the Lundin Group, has
commenced this year's exploration program at the Zymo property, located 40 km
west of Smithers, BC. The 10,250 hectare property is accessed by good quality
logging roads from Smithers.
The Zymo property hosts at least two large copper-gold-porphyry, or
intrusion-related, mineralized zones, both of which will see detailed
exploration in 2008. The program this year will include extensive geochemical
sampling, IP geophysical surveying and diamond drilling. The reconnaissance
program that led to a new discovery last year (Hobbes Zone) will continue
over a number of prospective target areas. More detailed work, followed by
diamond-drill testing, will be completed in the Main and Hobbes Zones.
The Main Zone is defined by a large geochemical anomaly measuring
approximately 1.0 km by 1.0 km. In 2007 in the Main Zone area, chip sampling
along a creek exposure returned 0.13% copper and 0.26 g/t gold. Grab samples
in this area have returned up to 1.0% copper. About 800 metres southeast of
the Main Zone, prospecting located a new showing, where a grab sample
returned a grade of 0.92% copper, 0.26 g/t gold and 4.5 g/t silver. The
nearest drill holes to this new showing are over 500 m to the southeast and
to the west, respectively.
The Hobbes Zone is a 2007 discovery of porphyry-style mineralization
approximately 4.5 km west of the Main Zone. Grab samples returned copper
grades to 0.33% and gold grades to 1.13 g/t, indicating a significant
copper-gold system associated with a magnetic high that measures 1.0 km in
length. The host rocks are intensely altered intrusives. In this area, a soil
sample survey on the outer edges of a magnetic high outlined strong copper,
gold and molybdenum anomalies over an area of at least 1.0 x 1.0 km.
CGH may earn a 60% interest in the property by completing exploration
expenditures of $4 million over five years. CGH may earn an additional 10%
interest by completing a feasibility study and an additional 5% by arranging
mine financing for Eastfield. A minimum exploration expenditure of $800,000
must be completed in calendar 2008.
G.L. Garratt, P.Geo., who is a qualified person within the context of
National Instrument 43-101, has read and takes responsibility for this news
release.
G.L.Garratt, P.Geo.
Officer and Director
Eastfield Resources Ltd.
Contact:
Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: 888-656-6611
About Eastfield Resources:
Since its inception in 1987, Eastfield has utilized a successful business
strategy that involves securing third party exploration financing on its
projects. Eastfield has six projects located in British Columbia and one in
Nevada. Currently optioned projects include Zymo, optioned to Canadian Gold
Hunter (TSX: CGH); Okeover, optioned to Prophecy Resource Corp. (TSX-V: PCY);
Indata and Howell, optioned to MAX Resource Corp. (TSX.V: MXR); and Iron
Lake, optioned to Cobre Exploration Corp. (TSX-V: CXV-H). Lorraine Copper
(TSX-V: LLC) and Cariboo Rose Resources (TSX-V: CRB) have their origins in
Eastfield, demonstrating the success of the business model.
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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