Northern Shield and East West Option Agreement on Max Property Accepted for Filing by TSX Venture Exchange
SOUTH OF McFAULDS LAKE and NORONT DISCOVERY
DRILLING IN JULY
TORONTO, ONTARIO: July 14, 2008; East West Resource Corporation (TSX Venture Exchange: EWR) (“East West” or “the Company”) announces that the TSX Venture Exchange has accepted for filing documentation pertaining to an agreement whereby Northern Shield Resources Inc. (Northern Shield) can earn a 66% interest in the company’s Max property. In consideration Northern Shield will issue 300,000 common shares at a deemed price of $0.56 and make a payment of $75,000. If Northern Shield wishes to proceed after 1 year, they will issue a further 100,000 common shares, and make a further payment of $50,000.
The Max property is located 52 km east of the company's Norton copper-nickel-PGE deposit, and 112 kilometers south of Noront’s nickel-copper-PGE discovery in the McFaulds Lake area.
A drilling program planned for later this month will test a 700 metre long electromagnetic conductor located by a VTEM survey flown earlier this year. Robert Middleton, P.Eng., is the designated qualified person responsible for the preparation of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
M.J.(Moe) Lavigne, President and CEO