Eastmain Resources Files its Second Quarter Financial Statements and MD&A
June 8, 2016
Toronto, Ontario — Eastmain Resources Inc. (“Eastmain” or the “Company”- TSX:ER) announced that it has filed its unaudited Condensed Interim Consolidated Financial Statements and the related Management Discussion & Analysis (“MD&A”) for the three and six months ending April 30, 2016, on SEDAR (www.sedar.com) and on the Company’s website (www.eastmain.com).
Claude Lemasson, Eastmain President and CEO commented, “The first half of the year was a challenging but transitional period for Eastmain which became a catalyst for positive change. Looking forward to the second half of the year, we’ve continued to strengthen our management depth and financial expertise with the addition of Joe Fazzini as CFO & VP Corporate Development. We plan to announce other key additions to the team in the coming weeks. With revitalized management and technical teams in place, and just under $10 million in cash, we remain focused on executing on our vision and strategic plan for Eastmain. We have aggressive exploration plans for the Clearwater Project, including the Eau Claire deposit, along with exciting new programs for Eastmain’s other key projects in the James Bay gold district in Northern Quebec.”
About Eastmain Resources Inc. (TSX:ER)
Eastmain is a Canadian exploration company with 100% interest in the Eau Claire and Eastmain Mine gold deposits, both of which are located within the James Bay District of Quebec. Eau Claire, the Company’s core asset, has superior infrastructure within a favourable jurisdiction and is royalty free. Eastmain also holds a pipeline of exploration projects in this new Canadian mining district, including being a partner in the Éléonore South Joint Venture.
For more information:
Claude Lemasson, President and CEO
Alison Dwoskin, Investor Relations
Forward- Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or timing of future plans, and include, but not limited to, statements with respect to the potential success of the Company’s future exploration and development strategies. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Eastmain, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing, timely completion of proposed studies and technical reports, and risks associated with the exploration, development and mining industry generally such as economic factors as they affect exploration, future commodity prices, changes in interest rates, safety and security, political, social or economic developments, environmental risks, insurance risks, capital expenditures, operating or technical difficulties in connection with development activities, personnel relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of Mineral Resources, contests over property title, and changes in project parameters as plans continue to be refined. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be required by law.