Vancouver, BC, May 16, 2012, Eastfield Resources Ltd.
("Eastfield") (TSX-V: ETF) would like to provide a corporate
summary as the 2012 field season begins. The company continues to be
active in British Columbia and the state of Nevada. In BC, Eastfield
owns or is a significant partner in six exploration projects and owns
25 patented mining claims near the town of Tonopah Nevada. The BC
projects are as follows:
----------------------------------------------------------------------
|Project |Commodity |Funding Agreements |
|--------------------------------------------------------------------|
|Zymo |Copper-gold |Bearing Resources Ltd. has option |
|--------------------------------------------------------------------|
|Indata |Copper-gold-nickel |Oceanside Capital Corp. has option|
|--------------------------------------------------------------------|
|Iron Lake |Copper-PGM-gold |Calico Resources Corp. has option |
|--------------------------------------------------------------------|
|Ok |Copper-molybdenum |Joint Venture with Prophecy |
| | |Coal Corp. |
|--------------------------------------------------------------------|
|Naggie |Copper-silver-gold |Recently staked |
|--------------------------------------------------------------------|
|Hidden One|Copper-gold-molybdenum|Recently staked |
----------------------------------------------------------------------
In Nevada, Eastfield's 25 patented mining claims are located in and
about the Three Hills-Hasbrouk gold-silver project owned by Allied
Nevada Gold Corp. who recently released a 43-101 Technical Report
describing a Preliminary Economic Analysis (PEA) for the Three
Hills-Hasbrouk properties. The report indicates a positive potential
for commercial production.
In BC, field work is expected to commence on the Hidden One and Naggie
properties within the next few weeks with work expected to commence on
Zymo in late June or early July.
Eastfield Resources Ltd., with 44,794,919 shares issued, is
financially strong with approximately $2.7 million in working capital
(approximately $0.06 per share).
J.W. Morton, P.Geo., who is a qualified person within the context of
National Instrument 43-101, has read and takes responsibility for this
news release.
J.W. Morton, P. Geo.
President and CEO
Eastfield Resources Ltd.
Contact:Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: 888-656-6611
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
release.
About Eastfield Resources:
Eastfield is a Canadian mineral exploration company focused on the
discovery of large gold and copper deposits; it currently has projects
in British Columbia and in Nevada. Current projects include a 40%
ownership in the Okeover copper-molybdenum project with 60% partner
Prophecy Resource Corp. (TSX-V: PCY) and a 100% interest in the
Tonopah gold project in Nevada. Projects currently optioned out
include Zymo, optioned to Bearing Resources Ltd. (TSX-V: BRZ); Indata,
optioned to Oceanside Capital Corp. (TSX-V: OCC); and Iron Lake,
optioned to Calico Exploration Corp. (TSX-V: CKB). Eastfield trades on
the TSX Venture exchange under the symbol "ETF". For more
information, please visit the company's website at
www.eastfieldresources.com.
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