Eastmain Reports Final Assay Results from the KS Horizon Summer Exploration Campaign, Clearwater

Eastmain Resources Inc. (“Eastmain” or the “Company” - TSX:ER, OTCQX:EANRF), a gold exploration and development company operating in Eeyou Istchee, James Bay, Quebec, reports channel sampling assay results and final high density prospect sampling results from its summer exploration campaign at the Company’s 100%-owned Clearwater Property (see FIGURES 1-6) (see PR dated August 13, 2018 for initial campaign results). A 20-hole (4,000 m) drill program is now underway at Percival, Caradoc and the new target areas, with 13 holes (2,800 m) complete, with assays pending.

The final results from the summer campaign include channel sample and grab sample assays from 12 of 14 trenches (see FIGURE 2). The sampling targeted a 2.5 km segment of the south limb of the Knight-Serendipity Volcano-sedimentary Horizon (“KS Horizon”) from the Knight showing to the Caradoc showing, over the Percival Discovery. The complete program comprised high-density surface prospecting and rock sampling over VTEM conductors, geological mapping, mechanized trenching and channel sampling over the entire KS Horizon.

Claude Lemasson, Eastmain President and CEO commented, “These results reinforce our decision to focus our exploration efforts to the east of the Eau Claire Project at the KS Horizon. While Eau Claire advances through pre-development and permitting activities, our exploration team is discovering banded iron formations (BIF) and associated gold mineralization within 14 km of the Project. We find this a tremendous opportunity for our team to potentially make several related gold discoveries along the KS Horizon.”

2019 EXPLORATION HIGHLIGHTS

• Caradoc and KS Horizon Trenching – Gold values up to 1.23 g/t Au over 27.2 m have been sampled in iron formation related stratigraphy. Exposed significant silicified breccias with mineralization adding to the potential for an iron formation related gold host (see FIGURES 3 and 4).
• KS Horizon North Limb High-Density Surface Prospecting - Sampling results from the north limb of the volcano-sedimentary belt have returned anomalous geochemical arsenic (As) in rock samples that coincide with previously selected VTEM geophysical anomalies (see FIGURES 5 and 6). Additional field follow-up will be completed in advance of trenching and drill target selection.

Table 1: Selected KS Horizon Channel Sample Highlights

Grab samples are taken as the design and excavation of trenches evolve and target mineralized material which may be part of the trench or which cannot be accessed due to terrain challenges.

Table 2: KS Horizon Trench Grab Sample Highlights*

Trenching and Channel Sampling

Trenching and Channel Sampling (see FIGURES 2 and 3) has exposed bedrock along the KS horizon over a strike length of 2.5 km, allowing for detailed mapping of the geology and mineralization initially identified using VTEM followed by high density prospecting. New exposures at Caradoc (TR19-02) and Percival (TR19-06) and elsewhere along the belt have enhanced Eastmain’s understanding of this complex stratigraphy.

Surface exposures confirm the relationship of gold mineralization to sedimentary breccias throughout this portion of KS Horizon. These breccias are interpreted as sedimentary slump breccias in siltstones, mudstones and banded iron formation (BIF) which form part of the KS Horizon stratigraphy. These breccias are weakly to very strongly silicified and display sericite, chlorite and biotite alteration. Breccia matrices may display the presence of graphite and sulphide (pyrrhotite +/- pyrite). Magnetite is seen to be replaced by pyrrhotite within silicified sequences. Gold mineralization increases with the degree of silicification and may also be re-concentrated by deformation and folding along the KS Horizon. In addition to sedimentary breccia zones, anomalous (100 – 200 ppb) gold mineralization over widths of tens of metres is also seen in units of graphitic siltstones.

BIF horizons are locally associated to thin layers of garnet amphibolite rock at the Percival Discovery, which are part of the iron formation sequence, and with interbeds of strongly silicified and sericitized schists (altered argillites).

The predominant BIF horizon at Caradoc does not display significant brecciation in trench exposure, although soft sediment deformation is evident. Alteration mineralogy in BIF is strong at this location and takes the form of bedding parallel and joint controlled alteration of bedded magnetite to grunerite. Iron formation amphibole-garnet interbeds at this location are altered by sericite accompanied by grunerite (or anthophyllite) and sulphide mineralization (5-7% Po+Py). The strongest gold mineralization related to BIF at the Caradoc exposures is located in these amphibole-garnet-grunerite units, including the discovery sample of 10.3 g/t Au. At the north end of the Caradoc trench exposure, channel sampling cut gold mineralization in mudstone breccia (1.16 g/t Au over 2.89 m). Based on the results and lithology at this location the trench has been extended and additional results are pending.

Near the Percival Discovery, Trench TR19-06 has exposed a complex sequence of slump breccias composed of Banded iron formations and mudstones with varying degrees of silicification. Gold mineralization, including 1.23 g/t Au over 27.2 m is found in all sampled lithologies at this location. The structural and stratigraphic relationship between the Percival Trench and Trench TR19-06 is being studied to provide more insight into the impact of deformation on breccias and gold mineralization.

High Density Prospecting

The High Density Prospecting program comprised of 1,342 grab samples using systematic traverse lines spaced 50 m apart along the KS Horizon, targeting soil geochemical and VTEM anomalies obtained in the fall of 2018. Prospecting was enhanced by the use of Beep-Mat^TM magnetic susceptibility and EM conductivity instruments. The survey results present strong arsenic (As) (a gold related trace element in the region) soil geochemical anomalies which correspond to VTEM anomalies identified and selected as possible mineralized targets. Today’s results identified 6 VTEM targets with As anomalies and were distributed along the northern limb of the KS Horizon. Additionally, a strong 1 km long As anomaly was identified along a section of the KS horizon bridging two selected targets. New ground follow-up for these zones is planned for selection of trench and drill targets. Figures 3 and 4 show the distribution of rock sampling and the analytical results for gold and arsenic obtained to date along the northern limb of the KS horizon. For additional details on the high density prospecting program, see press release dated August 13, 2019.

To view FIGURES 1-6, please click on the following link: http://www.eastmain.com/_resources/news/Images/ER-190910-KStrenching.pdf.

This press release was compiled and reviewed by William McGuinty, P.Geo., Eastmain’s VP Exploration and Carl Corriveau, Eastmain’s Exploration Manager, each a Qualified Person under National Instrument 43-101.

Quality Assurance and Quality Control (QA/QC)

The design of the Eastmain Resources’ drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Eastmain’s geological staff, including qualified persons employing a strict QA/QC program consistent with NI 43-101 and industry best practices. The Clearwater project is supervised by Eastmain’s Project Geologist, Michel Leblanc P. Geo.

During the high-density prospecting campaign, field samples were collected, packaged and delivered to Laboratoire Expert in Rouyn-Noranda, Quebec. Samples are dried and subsequently crushed to 75% passing a 2 mm mesh screen. A 250-gram subsample is pulverized to a nominal 90% passing 75-micron mesh screen. All samples are analysed by Fire Assay with an Atomic Absorption (AA) finish using a 30 g aliquot of pulverized material. Assays exceeding 5 g/t Au are re?assayed by Fire Assay with a Gravimetric Finish.

Trench channel samples and split drill core are logged with samples packaged and delivered to ALS Minerals laboratory in Val d’Or (half-core for drill samples). Samples are dried and subsequently crushed to 70% passing a 2 mm mesh screen. A 1,000 grams subsample is pulverized to a nominal 85% passing 75-micron mesh screen. The remaining crushed sample (reject) and pulverized sample (pulp) are retained for further analysis and quality control. All samples are analysed by Fire Assay with an Atomic Absorption (AA) finish using a 50 g aliquot of pulverized material. Assays exceeding 5 g/t Au are re?assayed by Fire Assay with a Gravimetric Finish. Eastmain regularly inserts 3rd party reference control samples and blank samples in our sample streams to monitor assay performance and performs duplicate sampling at a second certified laboratory. Approximately 10% of samples submitted are part of the Company’s laboratory sample control protocols.

About Eastmain Resources Inc. (TSX:ER) (www.eastmain.com)

Eastmain is a Canadian exploration company advancing three high-grade gold assets in the emerging James Bay gold camp in Québec. 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 Éléonore South Joint Venture, located immediately south of Goldcorp Inc.'s Éléonore Mine, which hosts the Moni/Contact Trend Discovery (2017). In addition, the Company has a 100% interest in the Eastmain Mine Project under option to a third party and holds a 100% interest in a pipeline of exploration projects in this favourable mining jurisdiction with nearby infrastructure.

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. 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.

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Eastmain Reports Final Assay Results from the KS Horizon Summer Exploration Campaign, Clearwater

Claude Lemasson, President and CEO
+1 647-347-3765
lemasson@eastmain.com
Alison Dwoskin, Manager, Investor Relations
+1 647-347-3735
dwoskin@eastmain.com