Eastmain Announces Drilling Results from 2018/2019 Exploration Programs at Éléonore South Joint Venture

Eastmain Resources Inc. (“Eastmain” or the “Company” - TSX:ER, OTCQX:EANRF) announces the results from 26 drill holes totalling 7,365 m, completed during the late fall 2018 and winter 2019 drilling programs at the Éléonore South Joint Venture (ESJV) property (see TABLE 1 and FIGURES 1-8). The ESJV property, a joint venture with Newmont Goldcorp Corporation and Azimut Exploration Inc., is located adjacent to and 8 km south-east of Newmont Goldcorp’s Éléonore Gold Mine in Eeyou-Istchee, James Bay, Quebec.

Drilling targeted a 1.3 km strike length of the Cheechoo tonalitic intrusion within the Contact Trend and Moni Trend as well as exploring for additional mineralization along the sedimentary-tonalite contact to the southwest of the Contact Trend and to the northwest at the JT Prospect. The information obtained from the drill programs has been compiled along with all previous drilling to analyze alteration and lithology within the intrusion and has defined domains for altered and unaltered tonalite, pegmatite-affected tonalite, lamprophyre and adjacent metasediments (see FIGURE 7). The resulting model is intended to enhance targeting for future exploration and drilling programs.

A new surface exploration program began in August and includes an allocation for a follow-up drilling program planned for fall 2019.

Drilling Highlights:

• ES19-157 – 1.02 g/t Au over 92.0 m (Contact Trend),incl. 7.36 g/t Au over 8.2 m, at 152 m vertical depth

• ES19-156 – 7.44 g/t Au over 9.7 m (Contact Trend),incl. 63.2 g/t Au over 0.8 m, at 111 m vertical depth

Claude Lemasson, Eastmain President and CEO commented, “The drilling has been quite positive for the understanding of the sheer size of the Moni and Contact Trend discoveries. Over a zone extending 1.3 km by 0.75 km to a depth of at least 250 m, our exploration drilling continues to build the near surface mineralized zone within the tonalite intrusion. With the alteration model in place, the geology team has the tools to refine the exploration programs to define and expand zones, with the potential of identifying a bulk tonnage deposit. In addition, our team is applying this new model to identify similar zones as part of the current surface exploration program.”

Table 1: Summary of Drilling Result Highlights Éléonore South Property October 1, 2019

_{(1) Intervals are presented in core length; holes are generally planned to intersect mineralization as close to perpendicular to strike as possible; true widths are estimated to be 75% of downhole length when hole and dips of the mineralized horizons are considered.
(2) Assays presented are not capped. Intercepts occur within geological confines of major zones but have not been correlated to individual structures/horizons within these zones at this time.
(3) Vertical depth is measured from the surface to the mid-point of the reported interval.}

Drilling in the Contact Trend (see FIGURES 2 and 4-6)

Nine (9) holes (ES19-150 to ES19-152 incl. and ES19-154 to ES19-159 incl.), tested between and along drill sections to establish continuity inside the Contact Trend. Hole ES19-157 returned a core interval of 92.0 m grading 1.02 g/t Au in altered tonalite cut by several units of altered pegmatite and lamprophyre dykes. Similar intersections of mineralized and altered tonalite intruded by pegmatite dykes are reported in most of the holes drilled in this sector. The intercept includes an interval of 8.2 m of 7.36 g/t Au associated with a deformed and altered lamprophyre dyke with quartz veining. Hole ES19-156 also intersected an interval related to lamprophyre, grading 7.44 g/t Au over 9.7 m from 140.3 m to 150.0 m. Gold mineralization in the interval is distributed in altered tonalite (12.2 g/t Au from 140.3 m to 141.1 m), lamprophyre (63.2 g/t Au from 144.7 m to 145.5 m) and pegmatite (3.86 g/t Au from 141.1 m to 142 m).

Lamprophyre dykes are relatively common in the Cheechoo tonalite but the association of gold mineralization related to altered lamprophyre is seen mainly in the Contact Trend within altered tonalite. The presence of mineralization and alteration within these dykes suggests a late phase of gold remobilization.

Drilling in the Central Tonalite (see FIGURES 2 and 4-6)

Nine (9) holes ES18-134, ES18-135, ES18-143, ES18-145 to ES19-149 inclusive, ES19-155 and ES19-052 EXT tested the relatively undrilled section of the Cheechoo tonalite between the Moni - 101 and Contact Trends. Holes ES18-143 and ES19-147 were drilled along section to the northwest of ES18-128 to test the extension of the Contact Trend mineralization to the north, intersecting narrow intervals of anomalous gold values at shallow depth. Each hole encountered a higher-grade interval at depth, 8.12 g/t Au over 1.5 m and 16.7 g/t Au over 1.5 m respectively.

Located 100 m to the NE, holes ES19-148 and ES19-146 extended exploration NW along a section from holes ES18-117 and ES18-125. Hole ES19-148 intersected a broad near surface interval of anomalous Contact Trend mineralization (0.20 g/t Au over 46.5 m) in altered tonalite. Hole ES19-149 reported a continuous interval of altered tonalite with anomalous gold mineralization (90.9 m averaging 0.23 g/t Au).

Drilling Along the Western Tonalite Contact and JT Prospect (see FIGURE 3)

Hole ES18-136, ES19-153 and ES19-154 tested the western extension of the Contact Trend approximately 500 m west of the focus of previous drilling near hole ES17-90 (0.5 g/t Au over 123.5 m, see press release December 12, 2017). The holes encountered moderately altered tonalite with local strong foliation but did not intersect significant anomalous gold mineralization.

Holes ES18-139 to ES18-142 investigated the JT Prospect (see press release dated September 11, 2018), located approximately 3 km to the west of the Contact and Moni Trends. The four holes tested the Cheechoo tonalite intrusion by drilling through the JT meta-sedimentary package in the vicinity of historic hole ES08-12 (2.15 g/t Au over 14 m), looking to extend Contact Trend-type mineralization. The holes intercepted anomalous gold mineralization in veins within metasediments and pegmatite dykes including one narrow sulphide mineralized vein in meta-greywacke close to a pegmatite contact which returned 28.3 g/t Au over 0.5 m but these holes did not intersect Contact Trend mineralization in this area.

Alteration Modelling at Éléonore South (see FIGURE 7)

Exploration since 2016 at the Éléonore South property, and the investigation of the Cheechoo tonalitic intrusion in particular, considers gold mineralization to be intrusion-related, similar to that of the Fort Knox mine in Alaska (Kinross Gold Corporation) and the Côté Lake Project in Ontario (IAMGOLD). Both are examples of large-scale intrusion-related gold deposits. The Cheechoo intrusion is interpreted to be a thick planar body (450 m to 500 m thick) with a moderate to shallow dip to the south or southeast along its southern boundary, and a dip to the west along its western boundary (JT Prospect area).

The top of intrusion near the contact with the metasediments is considered to be highly prospective. Exploration of the Cheechoo intrusion by the Éléonore South Joint Venture has focused on this portion of the intrusion and has encountered mineralization in the primary tonalitic lithology and in post intrusion lithologies (pegmatite, lamprophyre) and has detected small-scale deformation (folding) in the intrusion that also appears to impact gold mineralization.

All drill exploration data collected on the Éléonore South property (2008-2019) and intersecting the Cheechoo tonalite has been used to develop an alteration model to help guide and constrain gold domain interpretations within the Cheechoo intrusion, especially for Contact Trend type mineralization. Analytical results (ICP and FA/AA)) from drilling, detected a reduced-intrusion alteration signature (As, S, W, Ag, Bi +/- Au) which correlates with visible alteration of tonalite comprised of albitization, quartz-hornblende veins, biotite networks, fine grained tourmaline-bearing veinlets, hornblende porphyroblasts and chloritization. The alteration model was developed using ioGAS^TM software and internally designed data management algorithms then visualized and refined in Leapfrog^TM. Structural information derived from oriented drill core was used to support the interpretation.

The alteration model defines domains for altered and unaltered tonalite, pegmatite-affected tonalite, lamprophyre and overlying metasediments. The altered tonalite and pegmatite-affected tonalite domains are interpreted as a combined, braided, shallow SE dipping and SW plunging zone approximately 500 m wide, 1,500 m long and 200 m thick. The dimensions of these domains are limited by the current extent of drilling along the Contact Trend and remain open at depth.

The winter 2019 drilling campaign successfully tested the model as part of the ongoing evaluation of the Contact Trend. The model would suggest that the Contact Trend altered tonalite and pegmatite-affected tonalite domains plunge at a shallow angle to the southwest, being exposed at surface in the northeast end and extending below the overlying metasedimentary sequence to the southwest.

The alteration model does not show a correlation between broad geochemical alteration in the Cheechoo altered tonalite and the tonalite hosted high-grade gold veining at the Moni Prospect using information gathered to date, suggesting this important mineralization may have a separate timing and genesis.

2019 Summer Field Program (see FIGURE 8):

A 2-month helicopter supported field program is designed to develop additional gold targets across the Éléonore South property began in August 2019. The key elements of the program include property-wide prospecting and mapping of the property to identify trench/stripping and drill targets and soil geochemical surveying to assess the un-surveyed southern portion of the property.

Table 2: 2018 Drill Hole Location Information October 1, 2019

_{*Hole ES18-137 was terminated due to misalignment}

Quality Control and Quality Assurance - The design of the Eastmain Resources’ drilling programs, Quality Assurance/Quality Control and interpretation of results is under the control of Eastmain’s geological staff, including qualified persons employing a strict QA/QC program consistent with NI 43-101 and industry best practices. The Éléonore South Joint Venture Project is supervised by Eastmain’s Project Geologist, Daniel Turgeon, P. Geo.

This press release was compiled and reviewed by William McGuinty, P.Geo., Eastmain’s VP Exploration, a Qualified Person under National Instrument 43-101.

To view FIGURES 1-8, please click on the following link: http://www.eastmain.com/_resources/news/Images/ER-191001-ESJVdrilling.pdf

About the Éléonore South Joint Venture Property
The Éléonore South Property is being explored as a three-way joint venture between Eastmain Resources Inc. (36.7%), Newmont Goldcorp Corp. (TSX:NGT; NYSE:NEM) (36.7%) and Azimut Exploration Inc. (TSX.V:AZM) (26.6%). Eastmain is the operator of the current program.

About Eastmain Resources Inc. (TSX:ER) www.eastmain.com
Eastmain is a Canadian exploration company advancing three high-grade gold assets in the emerging James Bay gold camp in Québec. The Company holds a 100%-interest in the Clearwater Property, host of the Eau Claire Project, for which it issued a Preliminary Economic Assessment (“PEA”) in May 2018, and the Percival Discovery made in November 2018. Eastmain is also the operator of the Éléonore South Joint Venture, located immediately south of Newmont Goldcorp's Éléonore Mine, which hosts the Moni/Contact Trend Discovery (2017). In addition, the Company has a 100% interest in the Eastmain Mine Project under option to a third party and holds a 100% interest in a pipeline of exploration projects in this favourable mining jurisdiction with nearby infrastructure.

Forward-Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or timing of future plans, and include, but not limited to, statements with respect to the potential success of the Company’s future exploration and development strategies. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Eastmain, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals and the availability of financing, timely completion of proposed studies and technical reports, and risks associated with the exploration, development and mining industry generally such as economic factors as they effect exploration, future commodity prices, changes in interest rates, safety and security, political, social or economic developments, environmental risks, insurance risks, capital expenditures, operating or technical difficulties in connection with development activities, personnel relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of Mineral Resources, contests over property title, and changes in project parameters as plans continue to be refined. Readers are cautioned that the assumptions, used in the preparations of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191001005130/en/

$ER.TO $EANRF Eastmain Announces Drilling Results from 2018/2019 Exploration Programs at Éléonore South Joint Venture

Claude Lemasson, President and CEO
+1 647-347-3765
lemasson@eastmain.com

Alison Dwoskin, Manager, Investor Relations
+1 647-347-3735
dwoskin@eastmain.com