East West Provides Exploration Update on Max Property, Drilling Resumes After Nickel Mineralization Identified – Norton-McFaulds Lake Area
TORONTO, SEPTEMBER 9, 2008 – East West Resource Corporation ("East West") (TSX-V: EWR) is pleased to announce that Northern Shield Resources Inc. ("Northern Shield") (TSX-V: NRN) has completed the first phase of drilling on the Max property with four holes drilled and a second phase of drilling has commenced. Northern Shield has the option to earn up to a 66% interest in the Max property by spending $3.5 million over four years. All three holes drilled on the main target at Max intersected a mafic-ultramafic intrusion composed of peridotite, olivine-gabbronorite and troctolite. Two of the drill-holes (08MX-01 and 02) intersected local concentrations of disseminated chalcopyrite (copper sulphide), pentlandite (nickel sulphide), millerite (nickel sulphide) and chromite over very short intervals (< 1 m). Millerite is a very nickel-rich sulphide which generally forms from the remobilization of pentlandite. The location of the millerite suggests greater volumes of pentlandite may be located within the intrusion. The mineralized intersection in hole 08MX-02 is interesting in that only chalcopyrite and pentlandite were observed with none of the usual accompanying pyrrhotite (iron sulphide). If the EM anomaly currently being tested is of similar composition, it would be favourable to higher grade nickel-copper mineralization.
A fourth hole was drilled along a dyke that connects Max to Northern Shield's Wabassi North Target. Numerous fragments of massive pyrrhotite were seen throughout the core of this hole suggesting possible massive sulphides at depth from which the sulphide fragments originate.
Less than one-third of the assays from the drilling at Max have been received to date. The assays report low grade nickel and copper mineralization with up to 0.26% Ni and 0.12% Cu. The mineralization occurs along strike from the strongest portion of an airborne EM anomaly and occurs near the contact of the ultramafic intrusion. Drilling has now resumed at Max to test this conductor.
Under Northern Shield's option agreement with East West Resource Corporation, Northern Shield is the operator and manager of exploration. Northern Shield has the option to earn up to a 66% interest in the Max property by making $125,000 in option payments, issuing 650,000 shares and spending $3.5 million over four years.
The drill program is being overseen by Christine Vaillancourt, Northern Shield's Chief Geologist, who is a Qualified Person under National Instrument 43-101.
Core samples were analysed by Accurassay laboratories in Thunder Bay, Ontario for Au, Pt, and Pd by Fire Assay with ICP finish and for base metals and other elements by four acid digestion and ICP finish.
ON BEHALF OF THE BOARD OF DIRECTORS
M.J.(Moe) Lavigne, President and CEO