(via Thenewswire.ca)
Vancouver, BC, July 28, 2008 - Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) is pleased to announce that Prophecy Resource Corp ("Prophecy") (TSX-V: PCY) has now received the final results of a drill program recently completed at the Okeover project located near the city of Powell River in south-western coastal British Columbia. In late 2006, N.C. Carter, PhD, P.Eng. completed a technical report on the Okeover Property pursuant to National Instrument 43-101 that estimated an inferred mineral resource of 86.8 million tonnes grading 0.31% copper and 0.014% MoS2 at a 0.20% copper cut-off grade. Prophecy plans to commission Dr. Carter to evaluate a revised North Lake resource later in the year.
The most significant result of the current program was hole OK-08-03, which intersected 45.5 metres grading 0.33% copper and 0.003% molybdenum including 12 metres grading 0.41% copper and 0.001% molybdenum. This hole was drilled 90 metres to the south of the nearest hole in the North Lake resource area and indicates a potential for further southerly extension for the mineralized zone. The North Lake Zone is one of eight known areas of significant copper-molybdenum mineralization on the Okeover project which is located a short distance from a deep water Pacific Ocean port.
A summary of significant drill results for the May-June 2008 programs are as follows:
Hole Intercept (m) From (m) To (m) Cu % Mo % OK-08-01 Including 57.0 42.0 113.0 122.0 170.0 164.0 0.30 0.33 0.003 0.003 OK-08-02 And 26.3 16.5 72.5 107.3 98.8 123.8 0.26 0.33 0.002 0.003 OK-08-03 Including Including 198.5 45.5 12.0 39.5 39.5 73.0 238.0 85.0 85.0 0.16 0.33 0.41 0.001 0.003 0.001 OK-08-04 2.2 98.2 98.0 0.21 0.004 OK-08-05 46.4 2.1 48.5 0.10 0.001
Hole OK-08-06, drilled three kilometres further to the south returned only anomalous values with individual three metres sample intervals returning values up to 0.28% Cu and 0.029% Mo.
Prophecy is earning a 60% interest in the OK property from Eastfield by incurring $1,000,000 of mineral exploration expenditures on the property and making cash and/or share payments totaling $110,000. Prophecy has satisfied its work obligations to earn its 60% interest.
J.W. (Bill) Morton P.Geo is the qualified person pursuant to National Instrument 43-101 guidelines who takes responsibility for this news release.
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Bill Morton
J.W. (Bill) Morton, P. GeoPresident and CEO
Eastfield Resources Ltd.
Contact: Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: 888-656-6611
About Eastfield Resources:
Since its inception in 1987, Eastfield has utilized a successful business strategy that involves securing third party exploration financing on its projects. Currently optioned projects include Zymo, optioned to Canadian Gold Hunter (TSX: CGH); Okeover, optioned to Prophecy Resource Corp. (TSX-V: PCY); Indata and Howell, optioned to MAX Resource Corp. (TSX.V: MXR); and Iron Lake, optioned to Cobre Exploration Corp. (TSX-V: CXV-H). Lorraine Copper (TSX-V: LLC) and Cariboo Rose Resources (TSX-V: CRB) have their origins in Eastfield, demonstrating the success of the business model.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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