Eastmain Resources Announces Management Changes

April 29, 2016

Responsive image

TORONTO, ONTARIO–(Marketwired – April 29, 2016) – Eastmain Resources Inc. (“Eastmain” or the “Company”) (TSX:ER) announced today that further to its previously announced succession process, Mr. Claude Lemasson has been appointed as President and Chief Executive Officer (Interim) effective April 28, 2016. Mr. Lemasson, a highly skilled mining professional with nearly 30 years of mine development and operational experience, is the former General Manager Projects, Canada and U.S., for Goldcorp Inc. and was responsible for the early development of the Éléonore project in northern Québec from advanced exploration to feasibility study, and has been a member of the Eastmain board of directors since November 2015.

“I am thrilled to take on this new full-time role with the Company at this exciting time,” said Claude Lemasson, President and CEO (Interim). “Eastmain is evolving as we are strengthening the senior management team and pursuing new exciting opportunities with a view to unlocking value in the Company. As we execute on our strategic plan, we are committed to keeping shareholders informed on a timely basis.”

In connection with Mr. Lemasson’s appointment, Donald Robinson has resigned as President, Chief Executive Officer and director, James Bezeau has resigned as Chief Financial Officer and Cathy Butella has resigned as Exploration Manager of the Company, each effective as of April 28, 2016. The Company is currently considering candidates to replace Mr. Bezeau and Ms. Butella and will announce any successor appointments in due course.

Each of Dr. Robinson, Mr. Bezeau and Ms. Butella will continue with the Company in an advisory capacity to ensure a proper and efficient transition by providing ongoing services relating to various exploration, corporate social responsibility, tax and financial matters.

“We wish to acknowledge founders and discoverers, Don Robinson and Cathy Butella, for their dedication to Eastmain,” said Laurie Curtis, Chairman. “Together with the outgoing directors and CFO James Bezeau, they brought Eastmain to this point in its evolution.”

About Eastmain Resources Inc. (TSX:ER)

Eastmain is a Canadian exploration company with 100% interest in the Eau Claire and Eastmain gold deposits, both of which are located within the James Bay District of Quebec. Eau Claire, the Company’s core asset, has superior infrastructure within a favourable jurisdiction and is royalty free. Eastmain also holds a pipeline of exploration projects in this new Canadian mining district. In October 2015, Eastmain was presented with the “Discovery of the Year 2015” award by the Association de L’Exploration Minière du Québec (“AEMQ”) for its contributions to the development of Quebec’s mining exploration industry.

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, 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.

Category: General