East West Resource Corporation: Midway Copper-Nickel-PGE Property Optioned
Posted on: Thursday, 22 May 2008, 09:00 CDT
A 608 claim unit, 9,687 hectares property has been optioned by East West Resource Corporation ("East West"), (TSX VENTURE: EWR) from Cascadia International Resources Inc. East West will immediately drill three VTEM anomalies that were outlined in a survey carried out by Geotech Ltd. in 2005. East West may earn a 50% interest by spending $175,000.00 by February 28, 2009 and by issuing 100,000 shares and 100,000 warrants at $0.15 per share upon approval of the TSX Venture Exchange. The property is located 75km north of the Lac des Iles Palladium-Platinum-Gold-Nickel-Copper mine operated by North American Palladium Ltd.
The three drill targets are late channel VTEM conductors associated with magnetic bodies. These targets are most likely represent nickel-copper sulphides hosted by mafic intrusions. This acquisition strengthens the companies emphasis on exploring for nickel, copper and PGE exploration in the Thunder Bay area.
The project set out above is being supervised by Paul E. Nielsen, P.Geo, 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 OF DIRECTORS
M.J. (Moe) Lavigne, President and CEO
THE TSX VENTURE EXCHANGE DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts: East West Resource Corporation M.J. (Moe) Lavigne President and CEO (807) 623-3824 (807) 623-0877 (FAX) Email: info@eastwestres.com Website: www.eastwestres.com
SOURCE: East West Resource Corporation
Source: MARKET WIRE
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