Lysander Minerals Corp Eastfield/Lysander Plans Of Arrangement - Spin-Off Of Lorraine Copper Corp. Effective Date Set by 24hgold

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	Tuesday, April 08, 2008 Eastfield/Lysander Plans Of Arrangement - Spin-Off Of Lorraine Copper Corp. Effective Date Set
	Eastfield Resources Ltd. (TSX-V: ETF) ("Eastfield") and Lysander Minerals Corporation (TSX-V: LYM) ("Lysander") announce that the TSX Venture Exchange (the "Exchange") has given its final approval to the plans of arrangement filed by each of Eastfield and Lysander, which provide for the listing of the shares of a new company, Lorraine Copper Corp. ("Lorraine"). The shares of Lorraine will commence trading as a Tier 2 company on the Exchange under the TSX-V trading symbol LCC upon completion of the listing requirements of the Exchange. Under the plans of arrangement, each of Eastfield and Lysander shall contribute their respective interests in the Jajay-Lorraine-Jan-Tam-Misty Property located in the Omineca Mining Division of British Columbia (the "Lorraine-Jajay Property") and $150,000 of working capital (for a total of $300,000) to Lorraine. The Lorraine-Jajay Property is host to alkalic porphyry copper-gold-silver deposits, and is located 280 km northwest of Prince George, BC. The Lorraine-Jajay Property is currently being explored by Teck Cominco Limited ("TCL") under an option agreement whereby TCL may earn up to a 65% interest in the Lorraine-Jajay Property. Each of Eastfield and Lysander shall retain their respective interests in their other mineral properties. The effective date of the Eastfield plan of arrangement has been set at April 16, 2008, which has also been determined as the record date for Eastfield shareholders to participate in the plan of arrangement. Eastfield shareholders of record on April 16, 2008, will subsequently receive approximately 0.451 of one common share of Lorraine for every share of Eastfield that they own, while still retaining their Eastfield shareholdings. Purchasers of Eastfield shares with settlement after the effective date will not receive Lorraine shares pursuant to the plan of arrangement. Take note that standard settlement terms for most brokerage firms are three business days following the date of purchase. The Eastfield plan of arrangement is more fully described in an Information Circular dated October 23, 2007 in connection with a special general meeting of shareholders which was held on November 27, 2007. The effective date of the Lysander plan of arrangement has been set at April 16, 2008, which has also been determined as the record date for Lysander shareholders to participate in the plan of arrangement. Lysander shareholders of record on April 16, 2008 will subsequently receive approximately 0.914 of one common share of Lorraine for every share of Lysander that they own, while still retaining their Lysander shareholdings. Purchasers of Lysander shares with settlement after the effective date will not receive Lorraine shares pursuant to the plan of arrangement. Take note that standard settlement terms for most brokerage firms are three business days following the date of purchase. The Lysander plan of arrangement is more fully described in an Information Circular dated October 29, 2007 in connection with a special general meeting of shareholders which was held on November 27, 2007. A total of 40,000,000 common shares in the capital of Lorraine shall be issued (20,000,000 shares, on a pro-rata basis, to the shareholders of each of Eastfield and Lysander) in connection with the plans of arrangement. Eastfield and Lorraine have entered into a Warrant Exercise Agreement whereby the holders of certain warrants of Eastfield shall be entitled to receive, upon exercise, one common share in the capital of Eastfield, and approximately 0.451 of one common share in the capital of Lorraine. The exercise price of such Eastfield warrant shall be allocated 60% to Eastfield and 40% to Lorraine. There are a total 750,000 outstanding Eastfield warrants which are exercisable at $0.22 per share until August 9, 2008. Lysander and Lorraine have entered into a Warrant Exercise Agreement whereby the holders of certain warrants of Lysander shall be entitled to receive, upon exercise, one common share in the capital of Lysander, and approximately 0.914 of one common share in the capital of Lorraine. The exercise price of such Lysander warrant shall be allocated 60% to Lysander and 40% to Lorraine. There are a total 250,000 outstanding Lysander warrants which are exercisable at $0.40 per share until March 9, 2009. Further information concerning Lorraine and the Lorraine-Jajay Property can be found in the Listing Application dated March 14, 2008, and a technical report on the Lorraine-Jajay Property prepared G.L. Garratt and Joseph E.L. Lindinger, P.Geo, dated February 4, 2008, both of which are available on SEDAR. On behalf of Eastfield, J. W. (Bill) Morton President and CEO On behalf of Lysander, Bryce M.A. Porter President and CEO About Eastfield Resources: Since its inception in 1987, Eastfield Resources has utilized a successful business strategy that involves securing third party exploration financing on the majority of its projects. At present, Eastfield has six projects located in British Columbia and one in Nevada. Currently optioned projects include Okeover, optioned by Prophecy Resource Corp. (TSX-V: PCY). Following the spin-off, Eastfield will continue to develop its remaining properties as well as seek new opportunities such as the recently acquired Zymo copper and gold property in northwestern BC. About Lysander: Since 1992, when it recognized the potential of the area, Lysander has assembled a significant land package within the Omenica Mining District of British Columbia. Its focus has been on the Hogem Batholith and the Duckling Creek complex, a large alkaline intrusive complex. Following the spin-off of the Lorraine-Jajay Property, Lysander will continue to hold the adjoining Pinchi, Descend and Osilinka/CAT properties. The large Pinchi Property is believed to include a significant section, to the north and west of the Lorraine-Jajay Property, of the Duckling Creek complex. Exploration of the Osilinka/CAT Property has been farmed out to a junior exploration company, which has an option to earn a 50% interest. Following the spin-off, Lysander will have approximately $850,000 of working capital. It will seek new opportunities as well as to develop the potential of its remaining properties. 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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	Production
	Mine développement
	Découverte
	Exploration
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