GoldMinerPulse Report on Eastmain Resources Inc.: (NI) 43-101 Metal Valuation Report

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Eastmain Resources Inc. (ER)

Company Web Site: www.eastmain.com

This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2005-12-30. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-09-02.

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GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-09-02

Project/Deposit CC MVpSh  PP%  MI%  I% Gold
    ClearwaterCA$12.75032%68%992.55 K oz    
 
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Sept-02
Metric / MetalGold
    Metal Totals992.55 K oz    
    Metal Prices in US$ (from 2010-09-02)$1,251.30 per oz    
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below)
$12.75    
    Percentage of Total Metal Value100.00%    
    PP% | MI% | I%0 | 32% | 68%    
 
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Sept-02
    Metal Value per Share (MVpSh)   US$12.75
    Average Ore Value per Tonne   US$304.48
    Metal Value Leverage (MVL)    9.14
    Market Capitalization as % of Metal Value   10.9%
    Recent Stock Price   C$1.47   (TSX/TSXV close on 2010-09-02.)
  Conversion rate used: 1 Cnd$ = 0.949244 US$ )
    Fully Diluted Share Count   97.40 M    ( Fully diluted share count taken from Eastmain Fact Sheet web page viewed August 2009. )
    PP% | MI% | I%   0 | 32% | 68%
Gold Metrics-- all Projects/Deposits
    Average Gold Ore Grade   7.568 g/t
    Market Capitalization
    per oz of Gold In Ground
   $136.93   US$  |   144.25   C$
    Gold Eq Oz Estimate   992.55 K oz   ( 992.55 K oz are in ground)
    Market Capitalization
    per oz of Gold Equilavent
   $136.93   US$  |   144.25   C$
 
See terms for more about GoldMinerPulse metrics.

Additional Notes:

Eastmain acquires second deposit gold    -   NR February 27, 2007

The Eastmain gold deposit is currently not included in GoldMinerPulse metrics as the estimate is a historical estimate that hasn't been upgraded to NI 43-101 classification.

Quote: The newly acquired Eastmain gold deposit contains 255,750 ounces of gold and 4.1 million pounds of copper, including measured resources of 91,500 tons grading 0.268 ounces/ton gold and indicated resources of 786,600 tons at 0.294 ounces/ton gold (Campbell, 2004 Annual Report). These resources are historical estimates and should not be relied upon. These estimates may not be NI43-101 compliant. Alain Blais is the qualified person for Campbell. A qualified person for Eastmain has not done sufficient work to classify the historical estimates as current mineral resources as defined by NI43-101  

GoldMinerPulse Coverage Status:

  • GoldMinerPulse coverage of Eastmain Resources Inc. is complete pending a final internal review.


Clearwater    -  ^top^

(NI) 43-101 Report:

Title: CLEARWATER PROJECT (1170) REPORT ON THE 2004 EXPLORATION ACTIVITIES
Date: 2005-12-30 (148 pages)

Project Location: Quebec, Canada

Map View: View the Clearwater project on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$4.02    313.07 K oz     9.460 g/t     1.03 M t    
Estimate notes: See Table 8.3: Indicated and Inferred Resource Estimate vs. Grade Cutoff on p. 73 of 148 in the NI 43-101 dated December 2005.
cut-off grade 4.0 g/t gold.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$8.73    679.48 K oz     6.930 g/t     3.05 M t    
Estimate notes: See notes for Indicated.
cut-off grade was 2.5 g/t gold.

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