Eastmain Resources Drilling at Clearwater Continues to Confirm and Extend Mineralization

MarketwiredDecember 1, 2016

TORONTO, ONTARIO--(Marketwired - Dec 1, 2016) - Eastmain Resources Inc. ("Eastmain" or the "Company") (ER.TO) is pleased to announce additional assay results from its ongoing, 63,300 m drill program at the Clearwater Project, which includes the Eau Claire deposit, in James Bay, Quebec (see FIGURES 1-4).

These results are from 23 holes (6,225 m) of drilling for a total of 32 holes (9,228) m to date. A summary of significant assay results and drilling data are presented in Tables 1, 2 and 3 below.

Highlights include:

• Eau Claire infill drilling highlights:
  • 43.1 g/t Au over 2.0 m - ER16-606
    including 96.8 g/t Au over 1.0 m
  • 15.8 g/t Au over 3.5 m - ER16-617
    including 66.6 g/t Au over 0.7 m
  • 35.3 g/t Au over 0.7 m - ER16-602
• 43.1 g/t Au over 2.0 m - ER16-606
  including 96.8 g/t Au over 1.0 m
• 15.8 g/t Au over 3.5 m - ER16-617
  including 66.6 g/t Au over 0.7 m
• 35.3 g/t Au over 0.7 m - ER16-602
• Snake Lake drilling continues to intersect mineralization across the targeted area; multiple intercepts for hole ER16-599 are at an average vertical depth of 57 m

Claude Lemasson, Eastmain President and CEO commented, "Our ongoing drill programs continue to showcase encouraging results on a number of fronts. Firstly, our infill results continue to reinforce our existing mineral resource through tighter drill spacing which assists in modelling our mineralized structures. Meanwhile, step-out drilling to the east continues to return positive results indicating potential for future mineral resource growth. Lastly, our Snake Lake results demonstrate more near surface mineralization within 2 km of Eau Claire, and support our thesis for potential satellite deposits."

DRILLING RESULTS - EAU CLAIRE

Eastmain is reporting on the second set of drilling results which includes 15 infill drill holes (4,353 m). To date, a total of 23 holes (7,125 m) of drilling have been reported with assays pending on an additional 23 holes (7,950 m), within the planned 55,700 m (180 hole) Eau Claire drill program. See press release dated October 24, 2016 for initial results.

Drilling at Eau Claire continues to infill the current resource area while testing new targets beyond the known resource envelope. Infill drilling has focused on tightening nominal drill spacing to approximately 25 m within the resource area. This tighter drill spacing provides key information for future consideration of underground exploration and development. This increased information will also provide a foundation for the upcoming Preliminary Economic Assessment scheduled for completion in late 2017, on the back of an updated resource estimate in 2Q 2017.

A fourth drill is expected at Eau Claire by the end of the year, in order to accelerate the overall exploration program.

DRILLING RESULTS - SNAKE LAKE

Eastmain is reporting on the second set of drilling results which includes 8 exploration drill holes (1,872 m). A total of 9 holes (2,103 m) are now complete with assays pending on the final 11 drill holes (2,400 m) at the Snake Lake Target.

The Snake Lake Target is located 1.8 km east from the Eau Claire Deposit, along the Clearwater Deformation Zone. Drilling continues to return encouraging near-surface gold results, with similar quartz-tourmaline related gold mineralization to the Eau Claire deposit. Additionally, gold mineralization in altered basalt flows and interlayered tuffs with sulphide mineralization of up to 15% has been intersected in several holes. All drilling to date encountered mineralization within 169 m from surface, with the vast majority being in the first 100 m.

GOLD MINERALIZATION - EAU CLAIRE

Gold mineralization at the Eau Claire gold deposit is generally located within structurally-controlled, high-grade en-echelon quartz-tourmaline veins and adjacent altered rocks. The vein system is predominantly hosted within a thick sequence of massive and pillowed mafic volcanic flows, interbedded with narrow intervals of volcaniclastic sedimentary rocks. Both flows and sediments have been intruded by multiple phases of felsic and porphyry dykes. Host rocks have been folded and deformed (sheared) through several deformation events. The gold bearing veins may occur as thin fracture fill with tourmaline and develop along an easterly strike and a southerly dip (450W zone) into thick quartz-tourmaline veins with zoned tourmaline+/-actinolite+/-biotite+/-carbonate alteration halos which can measure up to several metres in thickness.

GOLD MINERALIZATION - SNAKE LAKE

Gold mineralization at the Snake Lake occurrence is similar to the Eau Claire deposit. Quartz tourmaline veins are hosted within a thick sequence of basalt flows, tuffs and interbedded metasedimentary rocks which have been intruded by felsic dykes. As at Eau Claire, the entire sequence has been heavily deformed and sheared resulting in development of a deformation zone with strong and extensive foliation and local shearing. Significant zones of sulphide mineralization (pyrite, pyrrhotite, +/- arsenopyrite +/- chalcopyrite) are also reporting gold mineralization within the deformation zone.