Eastmain Resources Inc. - Shareholder Update

TORONTO, ONTARIO--(Marketwired - Apr 18, 2016) - Eastmain Resources Inc. (TSX:ER)

Dear Shareholders,

Since we last wrote to you there have been some very positive developments. Most notably, Columbus Gold Corp. ("Columbus") reached an agreement with Eastmain to withdraw its dissident action (News release April 8, 2016).

Columbus acknowledged that their previously disclosed concerns were addressed by a decision from Integra Gold Corp. ("Integra") to make a strategic investment in Eastman, which includes the acceleration of a previously planned succession approach to the transition toward the development of Eastmain's Eau Claire deposit, and the recommendation of a revised slate of operationally-focused director nominees put forward by Eastmain and Integra.

We are pleased with this outcome as it allows us to focus on our continued path of value creation for the benefit of all shareholders by providing:

• Enhanced technical experience and financial capacity to assist in the advancement of Eau Claire and its transition from exploration to project development;
  
  
• Continued evolution of the Board of Directors and management team of your Company, with a focus on becoming a future emerging producer;
  
  
• Increased exposure to capital markets through Integra's endorsement; and
  
  
• Immediate financial benefits - when combined with the recent private placement transaction (Company News Release April 11, 2016), the pending investment by Integra, upon election of the new slate of directors at the annual and special meeting of shareholders ("AGM"), will add approximately $11 million to Eastmain's treasury.
  
  

Following the AGM, Claude Lemasson, a current board member and highly-skilled mining professional with nearly 30 years of mine development and operational experience, will assume the role of Interim President and Chief Executive Officer ("CEO"). Mr. Lemasson's transition into the role will be supported by Dr. Donald J. Robinson, our current CEO, who will assume his new role as Advisor to the Company.

"Dr. Robinson has demonstrated an unwavering commitment to Eastmain and we look forward to working with him as we move forward in our pursuit of unlocking value for all shareholders. His hard work and dedication built this Company from scratch, obtaining the truly impressive portfolio of projects amassed today. His discoveries at Clearwater and the work he completed with his team have advanced our geological understanding of Eau Claire and truly changed the outlook for our Company. Without him we would not be where we are today and we thank him for his many contributions to the success of Eastmain." - Laurie Curtis, Chairman of the Board

"I would like to thank our shareholders for their loyal support over the years as we built a Company, which now holds one of the most attractive high-grade undeveloped, royalty-free gold deposits, and a portfolio of highly-prospective properties, in northern Québec - a region with untapped mineral potential. I would also like to thank the dedicated members of our exploration and support services teams and our northern neighbors for their involvement in the success of this Company." - Dr. Donald Robinson, President and CEO

We thank all shareholders for their continued support and urge them to vote the WHITE proxy. By supporting the revised slate of Eastmain directors, you will be voting for positive change.

Sincerely

Laurie Curtis, Chairman of the Board

Dr. Donald J. Robinson, President and CEO

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 any potential director nominations, actions taken in respect of director nominations received by Eastmain, actual results of current and future exploration activities at the Company's properties, and 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 results of matters to be considered at the upcoming annual and special meeting of shareholders of Eastmain, 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.

Contact

Anne Lachance
416.899.8551
anne.lachance@kaiserlachance.com
Heather MacDonald
647.400.0538
heather.macdonald@kaiserlachance.com