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Thursday, February 19, 2009 Shareholder Update
Eastfield had a great year in 2008. Despite difficult markets we are well financed, have no debt and the majority of exploration in 2009 will be funded by option partners. A new discovery: Zymo We wanted to take this opportunity to share some of the reasons we feel the Zymo property, accessible by road west of Smithers BC, is one of the most prospective gold-copper properties in BC. The mineralization at Zymo is porphyry style which is typical of large open-pit type deposits. In 2008 at the Hobbes zone, we drilled a near surface 72.0 metres of 0.54 g/t gold and 0.72% copper. Hobbes is located on the west end of an 8 km by 2 km Induced Polarized (IP) anomaly that has seen little or no exploration and no deep drilling. The IP anomaly indicates the size of the alteration/mineralizing event and this anomaly is considered to be very large. The property is optioned to Canadian Gold Hunter and they will be letting us know about their exploration plans for 2009 shortly. Click on the link below to see a 3D model and interactive cross sections showing the initial drill results from the Hobbes Zone which were announced on November 13th, 2008. You can clearly see how all the holes intersected significant mineralized intervals. http://www.corebox.net/properties/zymo/ A new property: Kilometer 26 Eastfield has recently staked the Kilometer 26 project in central British Columbia approximately 55 kilometres northwest of Fort St. James. The property was staked to cover the area where, in 1983, Cominco discovered a large boulder which repeatedly graded 8.1 grams per tonne gold. The property lies along a major regional structure known as the Pinchi Fault which potentially is host to the mineralization. Much of the area is overburden covered. The property covers fifteen kilometres of the Pinchi fault trace (1,840 hectares). The style of mineralization and alteration encountered at Kilometre 26 with the boulder is similar to what has been called Mariposite Ore, in the prolific Motherlode district of California. We look forward to finding an option partner to fund exploration on this property. To find out more about Kilometre 26, click here: http://www.eastfieldresources.com/s/Kilometre26.asp A new program: Iron Lake We are looking forward to another exploration season at the Iron Lake property, near 100 Mile, BC. Cobre Resources will be funding the program which will consist of trenching, sampling and mapping to be followed up with a drill program. Other Properties MAX Resource Corp., Eastfield's option partner on the Indata project and the Howell project has not yet indicated it's plans for these projects, but it is still early in the year, so we remain hopeful.
You can also view this News Release on our website at: http://www.eastfieldresources.com/s/NewsReleases.asp?ReportID=338666
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Eastfield is a exploration company based in Canada.
Eastfield holds various exploration projects in Canada.
Its main exploration properties are CROWSNEST, HOWELL, ZYMO, KILOMETRE 26, INDATA, TONOPAH (THREE HILLS), IRON LAKE - EASTFIELD / LYSANDER and OKEOVER (EASTFIELD) in Canada.