EASTMAIN RESOURCES INC.
Trading Symbol: ER - The Toronto Stock Exchange
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Eau Claire Gold Deposit
First 20 drill holes hit 51 intersections averaging 0.54 oz gold per ton

October 30, 2008


Eastmain Resources Inc. (TSX - ER) announces preliminary assay results from the first 20 drill holes of the current program at its wholly-owned Eau Claire Gold Deposit, located in James Bay, Northern Québec. These holes (ER08-113 to ER08-132), which have intersected the Main Group of veins below 2007 drilling, include 51 metre-wide intersections with an average grade of 18.66 g/t Au or 0.54 ounces gold per ton and 26 vein intervals with an average grade of 34.32 g/t Au (1 ounce per ton). See Table 1: 2008 Preliminary Assay Results. Assay data is pending for the remaining 44 drill holes.

Definition drilling over the past twelve months, using large diameter (HQ) core, has confirmed the lateral and vertical continuity of the Eau Claire gold deposit. Over 100 metre-wide vein intervals containing an average grade of one ounce gold per ton have been intersected to date in this drilling. The current program will continue until the end of the month.

Sixty-three drill holes, totaling 11,350 metres, have been completed during the 2008 phase of drilling. The first 20 drill holes intersected 80 quartz-tourmaline veins ranging from 8.42 g/t Au (0.25 ounces per ton) over 5.0 metres to 168.5 g/t Au (4.92 ounces per ton) over 0.5 metre (Table 1). A new set of gold-bearing veins, designated as the "T series", has also been discovered north of the main deposit. Highlights from this vein series include: 29.74 g/t Au over 1.5 m in hole 118, 17.76 g/t Au over one metre in hole 129 and up to 147.1 g/t Au over 0.5 metre in hole 132.

Definition drilling at Eau Claire has delineated high-grade, near-surface ounces, which could be extracted by open pit methods. A 2009 winter drill program is scheduled to continue to trace the high-grade central portion of the deposit to depth. The near-term objectives of the Corporation are to advance the project to the development stage, through continued low-cost definition drilling, and subsequently sell the gold asset to a producing company, while retaining a royalty interest.

"Drilling at Eau Claire continues to expand this high-grade gold deposit, located in one of the most favourable mining districts in the world – Quebec. Despite the recent financial crisis and market meltdown our Company is well funded, with in excess of $20 Million in the treasury and the benefit of additional exploration funding through impressive financial incentives from the Québec government. We have sufficient funds to continue our business plan for the next five years, even without including any provincial reimbursements. We will continue to enhance the value of our assets through ongoing drilling under and around defined resources and known metal targets. Our exploration activities will focus on expanding our 100%-owned gold deposits and exploring the Éléonore South Joint Venture, which is funded by Goldcorp" stated Eastmain's CEO, Don Robinson

This press release was prepared by geologist Dr. Donald J. Robinson, P. Geo, qualified person as defined by National Instrument 43-101.

Eastmain is a Canadian gold exploration company with 100% ownership of the Eau Claire and Eastmain gold deposits. Eastmain also discovered a new sedimentary-gold zone at Éléonore South, a project located adjacent to Goldcorp’s Roberto deposit, located in James Bay, Québec. The Company has an annual budget of $3 million for gold exploration in Québec.


 



For further information please contact:
Donald J. Robinson, President or
Catherine Butella, Exploration Manager at
phone (519) 940-4870
fax (519) 940-4871
e-mail: robinson@eastmain.com
website: www.eastmain.com

Eastmain Resources Inc. | info@eastmain.com | www.eastmain.com


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