Toronto - Eastmain Resources Inc. ('Eastmain' or the 'Company' - TSX: ER, OTCQB: EANRF), a gold exploration and development company based in Eeyou Istchee James Bay, Quebec, is pleased to announce it has optioned to Benz Mining Corp. ('Benz') (TSX-V: BZ), the Ruby Hill East and West properties (the 'Property').
The Property is located immediately west of the Eastmain Mine Project, which was optioned to Benz in August 2019.
In conjunction with the option, Eastmain is amending the existing Eastmain Mine Project option agreement in relation to work commitments on the property. The new work schedule accommodates Quebec's exploration restrictions imposed due to COVID-19 and delays 2020's $500,000 required spending to 2022.
Blair Schultz, Eastmain Interim President and CEO commented, 'This is a great milestone for Eastmain Resources. Monetizing the Ruby Hill Properties and the Eastmain Mine Project allows us to focus on our key James Bay gold assets. Benz has proven themselves as great partners and we're thrilled to give them the opportunity to develop Eastmain Mine and explore neighbouring Ruby Hill East and West properties.'
'We are extremely excited about the addition of the large Ruby Hill East and West concessions to our flagship Eastmain gold mine project as it adds a considerable exploration component in a highly prospective area to our company,' Miloje Vicentijevic, Benz President and CEO said.
About Eastmain Resources Inc. (TSX:ER) www.eastmain.com
Eastmain is a Canadian exploration company operating in the Eeyou Istchee emerging James Bay gold camp in Quebec. The Company holds a 100%-interest in the Clearwater Property, host of the Eau Claire Project, for which it issued a Preliminary Economic Assessment ('PEA') in May 2018, and the Percival Discovery made in November 2018. Eastmain is also the operator of the Eleonore South Joint Venture, located immediately south of Goldcorp Inc.'s Eleonore Mine, which hosts the Moni/Contact Trend Discovery (2017).
Contact:
Blair Schultz
Tel: +1 647-347-3735
Email: bschultz@eastmain.com
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 and potential success of the Eastmain Mine Project. 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 and 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 effect 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 preparations 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.
EASTMAIN RESOURCES INC. 
