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East West and Temex Acquire Nickel-Copper-PGE Property South of McFaulds Lake and Noront Discovery 34,560 acres proximal Northern Shield Resources Inc., Impala Platinum Holdings Ltd., International Nickel Ventures Inc., Vale Inco Limited, and others Covers interpreted basal portion of, and the possible 'feeder conduits' to Highbank Lake Intrusion Includes untested airborne EM anomalies from previous surveys TORONTO, ONTARIO--(MARKET WIRE)--Apr 1, 2008 -- East West Resource Corporation (CDNX:EWR.V - News) ("East West"
or "the Company") announces that it has expanded its land
position in the area of the Noront Resources Eagle One and
Eagle Two nickel-copper-platinum group element (Ni-Cu-PGE)
discoveries in the McFaulds Lake area, Ontario. The latest
land acquisition, referred to as the Fishhook Property (the
"Property"), includes one contiguous group of 968 claim
units covering 34,560 acres, pursuant to a joint staking
agreement with Temex Resources Corp ("Temex") as equal partners,
located 15 kilometres east of the GP Property, a group of
333 claim units announced by Temex and East West March 19,
2008. The Fishhook Property, located approximately 45 kilometres to the south of the Noront discoveries, was staked to cover the interpreted basal portions of the Highbank Lake Intrusion. It is contiguous to the west of the area actively being explored by International Nickel Ventures Inc. on their Fishtrap Property, and by Northern Shield Resources Inc. ("Northern Shield") and Impala Platinum Holdings Ltd. ("Implats") on their Highbank Lake Project. Implats is the world's second largest producer of platinum, with production from mines in the Bushveld Complex, South Africa, which hosts roughly 80% of the world's known PGE reserves. Recent work by Northern Shield has led to the conclusion that the Highbank Lake intrusion represents a large layered mafic to ultramafic intrusive complex with potential to host extensive layered PGE "reef" mineralization similar to that found in the Bushveld Complex. The Highbank Lake Intrusion covers some 500 square kilometres, ranking it as one of the ten largest intrusive complexes of its kind in the world (source www.northern-shield.com). In addition to the potential for reef style PGE mineralization, Temex and East West interpret that the area near the base and below the Highbank Lake intrusion has potential to host significant Ni-Cu-PGE mineralization in the conduits or feeders below the intrusive suite, a setting analogous to the Noront discoveries and other large Ni-Cu-PGE deposits. The companies interpret from available published airborne magnetic and geological data that the basal portions of the intrusion and the location of the "feeder dykes" or "magma conduits" are likely to exist on the Fishhook Property. Furthermore, the companies have identified at least two potentially significant untested airborne EM anomalies from a previous survey that covers only a small portion of the Fishhook Property. The companies anticipate that new detailed airborne geophysical surveying will commence in April using the VTEM system of Geotech Ltd. with results expected in May; targets will then be prioritized for a follow-up drill program. Robert Middleton, P.Eng., is the designated qualified person responsible for the preparation of this news release. 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 OF DIRECTORS M.J. (Moe) Lavigne, President and CEO
Contact: Contacts:
East West Resource Corporation
M.J. (Moe) Lavigne
President and CEO
(807) 622-9734
Email: info@eastwestres.com
Website: http://www.eastwestres.com
Source: East West Resource Corporation
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