THUNDER BAY, ONTARIO -- 01/29/08 --
East West Resource Corporation (TSX VENTURE: EWR) has been actively exploring the area between Ft. Hope and Lansdowne House in northern Ontario for Cu-Ni-PGEs mineralization since 2001. Its most advanced project in the area is the Norton Lake Cu-Ni-Co-PGE deposit (jointly owned by East West, Cascadia International Resources Inc and Trillium North Minerals Ltd), which possesses a 43-101 compliant resource that remains open at depth (see website
www.eastwestres.com). A number of other gabbro-pyroxenite bodies occur along the greenstone belt of the type that hosts the Norton Lake deposit and previous work has defined a number of magnetic anomalies with high response time domain EM conductors. Management felt that the acquisition of a particular group of gabbro-pyroxenite bodies was prudent given the activity to the north in the vicinity of Noront Resources Ltd Double Eagle Cu-Ni-PGE discovery.
The new property has seen very little historical exploration due primarily to lack of outcrop and difficult access, however other companies have recently begun staking gabbro bodies in the area. The new property, called "Ox", is 19 Km long and covers six magnetic features that are similar to those associated with other gabbro-pyroxenite bodies in the area. These targets contain six channel, "Input" EM conductors similar in EM response to the Norton Lake deposit.
Line cutting has commenced on six separate grids covering the highest priority EM targets. These grids will subsequently be covered with EM and magnetometer surveys in approximately 4 weeks time in preparation for diamond drilling.
The Ox property is 100% owned by East West and is not subject to any NSR.
The project set out above is being supervised by R. Middleton, P.Eng, who is the qualified person and responsible for quality control of the assaying and reporting. More details are available at www.eastwestres.com.
Certain information regarding East West Resource Corporation contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although East West Resource Corporation believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. East West Resource Corporation cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what East West Resource Corporation currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.
ON BEHALF OF THE BOARD
Blake Colvin, Director
The TSX Venture Exchange does not take responsibility for the adequacy or accuracy of this release.
Contacts:
East West Resource Corporation
Blake Colvin
Director
(807) 623-3824
(807) 623-0877 (FAX)
Email: info@eastwestres.com
Website: www.eastwestres.com
