Eastmain Resources closes $2.28M FT private placement

Eastmain Resources Inc.



News Release

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Eastmain Resources Inc. Announces Closing of Flow-Through Offering

Toronto, Ontario (December 14, 2017) – Eastmain Resources Inc. (TSX:ER) (OTCQX:EANRF) (the “Company” or “Eastmain”) is pleased to announce that it has closed its previously announced non-brokered offering (the “Offering”) of 6,000,000 “flow-through” common shares (the “FT Shares”) at a price of $0.38 per FT Share, to raise aggregate gross proceeds of C$2,280,000.

The net proceeds of the Offering are expected to be used to fund exploration and development of the Company’s mineral concessions in Quebec. All FT Shares issued pursuant to the Offering are subject to a statutory hold period expiring April 15, 2018. The Offering remains subject to the final approval of the Toronto Stock Exchange.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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. Clearwater, host of the Eau Claire deposit, is the Company’s core asset with access to superior infrastructure in a favourable mining jurisdiction. 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
+1 647-347-3765
lemasson@eastmain.com

Joseph Fazzini, CFO and VP Corporate Development
+1 647-347-3735
fazzini@eastmain.com