Eastmain Resources Reports Optioning of Lac Lessard Property to Private Company

Eastmain Resources Inc., a gold exploration and development company based in Eeyou Istchee James Bay, Quebec, is pleased to announce it has optioned its Lac Lessard PGM (Platinum Group Metals) Property (the "Project") to a private company.

Lac Lessard is located 15 kilometres northeast of the Eastmain mine property, recently optioned to Benz Mining Inc., and located 325 km NE of the town of Chibougamau. The Lac Lessard property hosts an intrusive complex which is prospective for PGMs.

Blair Schultz, Eastmain Interim President and CEO commented, "We are thrilled to monetize another one of Eastmain's non-core assets. The option allows our team to focus our exploration efforts on our highly prospective James Bay properties. We are casting a wide exploration net on our Reservoir, Radisson and Clearwater Properties this summer/fall and will utilize funds from this option towards these programs."

Option Agreement Highlights

• An initial option payment for the Project (the "Option") of $85,000 has been received.
• In order to earn 100% interest in the project, the Company exercising the option must:
  • incur at least CAD$100,000 of Project Expenditure within 12 months of the Agreement Date; and
  • pay to the Seller CAD$100,000 within 12 months of the Agreement Date.
• Eastmain will retain a 2% Net Smelter Return ("NSR") from any ore extracted and sold from the permits; Half the royalty may be purchased for $500,000, thereby reducing the royalty to a 1% NSR