Eastern Resources, Inc. to Provide Current Corporate Presentation

Eastern Resources, Inc. to Provide Current Corporate Presentation 
DENVER, June 12, 2012 /CNW/ - Eastern Resources, Inc. (OTC Bulletin Board: 
ESRI), a Delaware corporation ("ESRI" or, the "Company"), announced today that 
the Board of Directors of the Company will post its current Corporate 
Presentation on its website www.easternresourcesinc.com, this week. 
The Corporate Presentation details the history and development of the 
Company's Golden Dream Mine, the Montana Tunnels Mine, and the Diamond Hill 
Mine. Through a reverse triangular merger completed on April 6, 2012, the 
Company acquired from Elkhorn Goldfields LLC ("EGLLC"), the two operating 
subsidiaries of EGLLC, Elkhorn Goldfields, Inc. ("EGI"), a Montana corporation 
and the owner of the Golden Dream Mine, and Montana Tunnels Mining Inc. 
("MTMI"), a Delaware corporation and the owner of the Montana Tunnels Mine and 
Diamond Hill Mine[1]. 
Presented below is a brief review of the material information contained in the 
Corporate Presentation and not previously presented: 
Summary of Investment Highlights: The Company owns three fully permitted mines 
in the Unites States; has an experienced management team; the existing 
permitted mines present strong economics; the Company expects approximately 
150,000 ounce[2] equivalents of gold production annually at full production; 
more than $300 Million has been spent on existing infrastructure; and there is 
an additional exploration potential of 2 to 3 million ounces of gold[2]. 
Timeline:  1998 - EGI purchased the Elkhorn Project from Newmont Gold Corp.; 
Sept. 2006 - EGI and Apollo Gold Corp. entered into a 50:50 joint venture to 
operate the Montana Tunnels Mine; July 21, 2008 - EGI was granted its 
Exploration Permit by the Montana DEQ; Oct. 27-Nov. 3, 2008 - MTMI received a 
Favorable Records of Decision for the M-Pit expansion of by the Montana DEQ 
and US BLM; April 2009 - EGI acquired the remaining 50% of MTMI; November 30, 
2011 - the Montana DEQ granted EGI a full operating permit; April 6, 2012 - 
ESRI acquired EGI and MTMI via reverse merger. 
Current Development Plan Reserves: 


    --  Elkhorn Goldfields: Golden Dream ("GD") Reserves[2] – 1.1
        M tons; Initial GD Mine Life - 5+ Years; GD Contained Metal -
        Gold 258,000 oz, Copper 9.5 M lbs.; Golden Dream Resource
        Extension - Additional 1.1 M Tons; Adds 250K to 300K oz to GD;
        Extends GD mine life by 5+ years; Other known Resources - 1.4M
        oz; Additional exploration potential - 2-3M oz
    --  Montana Tunnels Mine: M-Pit Mine Reserves[3] - 38 M tons; M-Pit
        Mine Life - 8.5+ Years; M-Pit Contained Metal - Gold 480K oz.,
        Silver 7.9M oz., Lead 124M lbs., Zinc 370M lbs.; Add'l
        Expansion 60M tons below M-pit; Mill and existing
        Infrastructure -$250M+ in replacement cost
    --  Diamond Hill: ESRI's third fully permitted and bonded mine;
        Production to date - 700,000 tons; produced 165,000 ounces of
        gold; Diamond Hill Reserves & Resources - Probable 13.7K oz.;
        Inferred(3 34.4K oz.; 75 road miles to Montana Tunnels mill
        facility.

Montana Permitting: Montana Regulation - In 1998, Montana's voter initiative 
banned the use of cyanide in open pit cyanide-leach gold and silver mining for 
new operating permits.  ESRI's Solution - Redesign mine plans utilizing 
underground mining methods and conventional milling scenarios.  Permitting 
Results - ESRI has operating permits for Golden Dream Mine, the Montana 
Tunnels Mine, and the Diamond Hill Mine from the Montana DEQ (Department of 
Environment Quality) and the BLM (Bureau of Land management).

EGI - Elkhorn Property History: Located in Elkhorn Mining District, Jefferson 
County, Montana, the original Elkhorn mine discovered Silver, Lead & Gold in 
the 1870s; silver & lead mining ran sporadically through the 1940s; modern 
exploration techniques lead to the discovery of the Carmody gold mine in 1984 
by Gold Fields Mining Corp., and concentrated exploration began; since the 
mid-1980s exploration including approximately 500,000 feet of drilling by 
mining majors, including Gold Fields Corp., Santa Fe Pacific, and Newmont 
Corp. have outlined a mineral resource of 1.653 million ounces[3] of gold and 
four mineralized deposits within the Elkhorn Property boundaries; in 1996, 
Sante Fe Pacific Gold completed a resource estimate for the Sourdough/Golden 
Dream Deposit; the initial mine target, the Golden Dream Mine, developed 
approximately 20% of the known Elkhorn gold resources; EGI purchased the 
Elkhorn Property from Newmont Corp. in 1998; East Butte, Carmody and Gold Hill 
expansion planned for after development of Golden Dream Mine; and on November 
30, 2011, EGI received its operating permit for the Golden Dream Mine from the 
Montana DEQ.

The Golden Dream Mine:  March 2006, EGI commenced work on the Golden Dream 
Mine Exploration Permit, which was granted by the Montana Department of 
Environmental Quality (MDEQ) in May 2006; Autumn 2006, EGI commenced work on 
the Golden Dream Mine plan, confirmation drilling and Full Operating Permit.  
The Permit was granted on July 18, 2008 by the Montana DEQ; summer 2011, EGI 
put in place the reclamation bond and commenced construction of the Golden 
Dream Mine; December 2011, Golden Dream Mine intercepted the ore body as 
targeted; and Golden Dream Mine estimated to be in full production in 4Q 2012.

Golden Dream Mine Development Plan: EGI is implementing a staged expansion at 
the Golden Dream Mine: 1) Install water treatment system - Originally, it was 
believed EGI could successfully mine the oxide zone prior to the installation 
of the water treatment system. However, water was encountered above the water 
table, but within the oxide zone.  The water treatment system was completed in 
March 2012 and is now operational.  Production from the oxide zone is likely 
to be 1,500-2,000 tons/month due to the fractured nature of the ore.  2) 
Extend primary access ramp at Golden Dream Mine to reach deeper ore zones in 
early summer. 3) Diamond Hill mill will be fully refurbished and $5 million in 
bonding will be placed with the Montana DEQ before start up. 4) A "bore" raise 
will be completed from surface into the main access ramp as a secondary egress 
- Full production expected to be achieved by September/October 2012.

 ____________________________________________________________________
|EGI Reserves and Resources:                                         |
|____________________________________________________________________|
|          |              |         |Gold |Copper |Gold   |Gold      |
|Deposit   |Classification|Tons     |     |       |       |Equivalent|
|          |              |         |(opt)|(%)    |Ounces |          |
|          |              |         |     |       |       |Ounces    |
|__________|______________|_________|_____|_______|_______|__________|
|Golden    |Mineable      |         |     |       |       |          |
|Dream     |              |1,171,000|0.221|0.406% |258,000|287,000   |
|          |Reserve[1]    |         |     |       |       |          |
|__________|______________|_________|_____|_______|_______|__________|
|Gold Hill |Probable      |400,000  |0.195|Not    |75,000 |75,000    |
|          |              |         |     |Assayed|       |          |
|__________|______________|_________|_____|_______|_______|__________|
|East Butte|Probable      |300,000  |0.183|Not    |55,000 |55,000    |
|          |              |         |     |Assayed|       |          |
|__________|______________|_________|_____|_______|_______|__________|
|Carmody   |Probable      |300,000  |0.151|Not    |45,000 |45,000    |
|          |              |         |     |Assayed|       |          |
|__________|______________|_________|_____|_______|_______|__________|
|Subtotal  |              |2,171,000|     |       |       |462,000   |
|__________|______________|_________|_____|_______|_______|__________|
|Property  |              |         |     |       |       |          |
|          |Inferred      |         |     |       |       |1,191,000 |
|Resources |              |         |     |       |       |          |
|__________|______________|_________|_____|_______|_______|__________|
|Property  |Proven,       |         |     |       |       |          |
|Total     |Probable &    |         |     |       |       |1,653,000 |
|Ounces of |Inferred[2]   |         |     |       |       |          |
|Gold      |              |         |     |       |       |          |
|__________|______________|_________|_____|_______|_______|__________|
|1. Internal estimates, not SEC Guide 7 compliant proven & probable  |
|reserves. EGI has taken its geologic reserve of 1,183,484 tons      |
|grading 0.243 ounces of gold per ton and copper of 0.406% copper and|
|applied an industry standard dilution and deletion percentage to    |
|achieve its Mineable Reserve.                                       |
|____________________________________________________________________|
|2. Santa Fe Pacific determined Measured and Inferred gold ounces to |
|be 1,653,000 within the four known Elkhorn Property deposits –|
|Golden Dream, Gold Hill, East Butte and Carmody.                    |
|____________________________________________________________________|

Montana Tunnels Mine Production History: Mine Startup - February 1986; Length 
of Operation - 24 Years; Total Ore Processed - 98 Million tons; Gold Recovered 
- 1.7 Million oz.;  Silver Recovered - 30.8 Million oz.; Lead Recovered - 400 
Million lbs.; Zinc Recovered - 1.1 Billion lbs..  $4.85 billion at today's 
prices.

M-Pit Fully Permitted: July 2004 - MTMI applied for a Major Amendment for the 
M-Pit mine expansion.   November 2008 - Following an Environmental Impact 
Statement process, MTMI received favorable Records of Decision from the 
Montana Department of Environmental Quality ("DEQ") and the US Bureau of Land 
Management ("BLM").  2008 – 2009 - MTMI received authorization to construct 
compensatory wetlands for the M-Pit plan from the US Army Corps of Engineers. 
Wetland mitigation was completed.   2009 - Additional reclamation bond has 
been agreed to for the M-Pit mine expansion plan. Present posted bond amount 
is $18.7 million ($15.1 million cash and $3.6 million appraised real estate). 
An additional approximately $15.0 million bond posting is required to be 
funded in order fulfill the M-Pit bonding requirement of approximately $34 
million.  Today – All other permits and licenses required to operate the 
Montana Tunnels Mine are current subject to bonding.


__________________________________________________________________
|M-Pit Reserves                                                    |
|__________________________________________________________________|
|        |          |Gold  |Silver|Lead|Zinc|           |Gold      |
|        |Tons      |      |      |    |    |Gold Ounces|Equivalent|
|        |          |(opt) |(opt) |(%) |(%) |           |          |
|        |          |      |      |    |    |           |Ounces    |
|________|__________|______|______|____|____|___________|__________|
|Proven  |27,673,000|0.0127|.211  |.164|.491|358,089    |572,471   |
|________|__________|______|______|____|____|___________|__________|
|Probable|10,105,000|0.0130|.211  |.160|.434|130,759    |198,967   |
|________|__________|______|______|____|____|___________|__________|
|Proven &|37,778,000|      |      |    |    |488,848    |771,438   |
|Probable|          |      |      |    |    |           |          |
|________|__________|______|______|____|____|___________|__________| 
 _____________________________________________________________
|M-Pit Zinc and Lead Concentrates:                            |
|_____________________________________________________________|
|M-Pit                      |Zinc Concentrate|Lead Concentrate|
|___________________________|________________|________________|
|Annual Projected Production|~46,000 tons    |~16,000 tons    |
|___________________________|________________|________________|
|Contained Zinc             |52-56%          |8-11%           |
|___________________________|________________|________________|
|Contained Lead             |1-2%            |50-55%          |
|___________________________|________________|________________|
|Contained Gold             |0.1-0.3 oz/ton  |2.0-3.5 oz/ton  |
|___________________________|________________|________________|
|Contained Silver           |5-20 oz/ton     |20-50 oz/ton    |
|___________________________|________________|________________|
|Contained Copper           |1-1.5%          |0.5-1%          |
|___________________________|________________|________________|
|Contained Iron             |6-8%            |7-11%           |
|___________________________|________________|________________|
|Impurities                 |Very Low        |Very Low        |
|___________________________|________________|________________| 
Long-term Growth Strategy:  ESRI plans to grow aggressively utilizing its 
current asset profile, knowledge of Montana's precious metals landscape, and 
existing infrastructure.  EGI and MTMI both have exploration potential outside 
of their currently defined resources. As further resources are proven, the 
amount of production and life of mine are expected to increase.  Diamond Hill 
has been extensively mined, but surrounding drill results suggest additional 
mineralized structures. Diamond Hill can provide valuable ore to process 
through the Montana Tunnels mill facility.  ESRI has the capability to acquire 
and develop nearby projects in Montana that have already been identified 
through management's local knowledge and experience over the past 15 years  
The milling facilities, especially at Montana Tunnels Mine, have excess 
capacity to process additional ore discovered at ESRI's current projects or 
deposits acquired nearby  ESRI's long term goal is to be a major gold producer 
with annual production of 500,000 ounces of gold.  There can be no assurances, 
however, that ESRI will achieve these goals. 


    --  YEAR 1: Production 60,000 oz. Deposits mined - Golden Dream
        Mine. Strategy - Begin operations at the Golden Dream Mine
        deposit.
    --  YEAR 2: Production 100,000 oz. Deposits mined - Golden Dream
        Mine, Montana Tunnels Mine. Strategy - Full production at
        Golden Dream Mine and start up Montana Tunnels Mine.
    --  YEAR 3: Production 150,000 oz. Deposits mined - Golden Dream
        Mine, Montana Tunnels Mine. Strategy - Full production at
        Golden Dream Mine and Montana Tunnels Mine.
    --  YEAR 4: Production 250,000 oz. Deposits mined - Golden Dream
        Mine, Montana Tunnels Mine, East Butte. Strategy - Convert
        already identified resources at current projects into mineable
        reserves. Begin mining the East Butte deposit.
    --  YEAR 5: Production 325,000 oz. Deposits mined - Golden Dream
        Mine, Montana Tunnels Mine, East Butte, Diamond Hill. Strategy
        - Begin sending ore from Diamond Hill deposit to Montana
        Tunnels mill. Identify and acquire nearby deposits.
    --  YEAR 6: Production 500,000 oz. Deposits mined - Golden Dream
        Mine, Montana Tunnels Mine, East Butte, Diamond Hill, Golden
        Hill. Strategy - Full production on all projects. Maximize
        capacity of Montana Tunnels mill with ore from nearby deposits.

About Eastern Resources, Inc. Eastern Resources, Inc. is an early stage, U.S. 
public company currently pursuing a business strategy in the precious and base 
metals mining sector in the United States. On April 6, 2012, the Company 
completed the acquisition of Montana Tunnels Mining, Inc. and Elkhorn 
Goldfields, Inc., and these two companies are now wholly owned subsidiaries of 
the Company.

About Montana Tunnels Mining, Inc. Montana Tunnels Mining, Inc., a Delaware 
corporation, owns the Montana Tunnels Mine which is a fully integrated, 
open-pit mining operation, which is seeking to recommence mining and milling 
operations.  Currently, operations are limited to care and maintenance 
functions. Montana Tunnels Mine staff engineers, in association with outside, 
independent mining consultants, have designed a mine plan for the expansion of 
the existing mine.  Montana Tunnels Mine has received favorable records of 
decisions to begin this pit expansion from the Montana Department of 
Environmental Quality and the Bureau of Land Management. This deposit 
incorporates a proven and probable mineral reserve of 37.8 million tons of ore 
containing 488,000 ounces of gold, 8.2 million ounces of silver, 358 million 
pounds of zinc and 124 million pounds of lead. Ore will be processed through 
Montana Tunnels Mine's 15,000 ton-per-day concentrating facilities.

About Elkhorn Goldfields, Inc. Elkhorn Goldfields, Inc., a Montana 
corporation, owns the Elkhorn Property which is a property with four 
identified gold and gold-copper mineral deposits. At the time Elkhorn 
Goldfields, Inc. acquired the Elkhorn Property from Newmont Mining Corporation 
in 1998, a mineral resource of 1.6 million ounces of gold had been delineated 
on the property.  Elkhorn Goldfields, Inc. has advanced the first of these 
four deposits – the Golden Dream deposit – to the point where it is fully 
permitted and underground development is underway. The Golden Dream mine 
deposit incorporates a probable mineral reserve of 1.17 million tons of ore 
containing 258,000 ounces of gold and 8.3 million pounds of copper. Ore 
Production from the Golden Dream operation will be trucked 35 road miles to 
the Montana Tunnels Mine for processing through a separate 1,000 ton-per-day 
mill located within the Montana Tunnels concentrating facility.

Cautionary Note Regarding Forward Looking Statements

This press release of Eastern Resources, Inc. ("ESRI" or, the "Company") 
contains forward-looking statements within the meaning of the U.S. securities 
laws. Such forward-looking statements may include, without limitation, 
statements regarding the business strategy, plans and goals of the Company, 
plans for the Montana Tunnels Mine and the Golden Dreams Mine (the "Mines") 
including anticipated scheduling and production estimates, and direction of 
production, as well as estimated capital and other costs; future gold, silver, 
zinc, lead and copper prices; reserve and resource estimates; estimated gold 
and silver and base metal potential for expansion of existing resources; 
timing and results of drilling programs; hedging practices; currency exchange 
rate fluctuations; government regulation of mining operations; environmental 
risks; unanticipated reclamation expenses; share valuation, including 
valuation relative to other resource companies and other statements that are 
not historical facts. Generally, these forward-looking statements can be 
identified by the use of forward-looking terminology such as "plans", 
"expects" or "does not expect", "is expected", "budget", "scheduled", 
"estimates", "forecasts", "intends" "anticipates" or "does not anticipate", 
"believes", or variations of such words and phrases or state that certain 
actions, events or results "may", "could", "would", "might" or "will be 
taken", "occur" or "be achieved". Forward-looking statements are based on our 
current expectations and assumptions. The anticipated timing and cost of 
activation of the Mines as well as the expected production from the Mines are 
based on the following assumptions: Capital and operating cost estimates are 
based on recent cost estimates of construction and mining costs developed by 
independent consultants and ESRI personnel; production estimates are based 
upon the actual metal recovery achieved on the Golden Dream Mine and Montana 
Tunnels Mine ores; and ore tonnage estimates and precious and base metal 
grades are as indicated in the plans and production schedules for the Mines 
developed by Company personnel and outside consultants. Although ESRI 
management believes that its expectations are based on reasonable assumptions, 
it can give no assurance that these expectations will prove correct. Important 
factors that could cause actual results to differ materially from those in the 
forward-looking statements include, among others; risks relating to the 
planned activation of the Mines including risks of delays in receipt of 
reclamation bond approval and delays in completion of construction, 
uncertainties relating to availability and timing of capital for financing the 
planned reactivation, risks relating to availability of outside contractors, 
risks of shortages of equipment or supplies, uncertainties relating to 
obtaining approvals and permits from government regulatory authorities, and 
risks of inability to achieve anticipated production volume or manage cost 
increases; risks that ESRI's acquisition, exploration and property advancement 
efforts will not be successful; risks relating to fluctuations in the price of 
precious and base metals, the inherently hazardous nature of mining-related 
activities and uncertainties concerning reserve and recourse estimates as well 
as those factors discussed in ESRI's filings with the U.S. Securities and 
Exchange Commission (the "SEC"), including ESRI's latest filing on Form 8-K 
(SEC File No. 000-54645) filed with the SEC on April 12, 2012, as amended on 
May 16, 2012 and May 31, 2012 and its other SEC filings including. There can 
be no assurance that forward-looking statements will prove to be accurate, as 
actual results and future events could differ materially from those 
anticipated in such statements. Accordingly, readers should not place undue 
reliance on forward-looking statements. The Company does not intend to 
publicly update any forward-looking statements, whether as a result of new 
information, future events or otherwise except as may be required under 
applicable securities laws.

Cautionary Note to investors concerning estimates of Measured, Indicated and 
Inferred Resources: The terms "Mineable Reserve," "Measured", "Indicated" and 
"Inferred" Resources are used herein. Investors are advised and cautioned that 
such terms are not recognized by the United States Securities and Exchange 
Commission. "Inferred Mineral Resources" have a great amount of uncertainty as 
to their existence, and as to their economic and legal feasibility. It cannot 
be assumed that all or any part of an Inferred Mineral Resource will ever be 
upgraded to a higher category. Investors are also cautioned not to assume that 
all or any part of Measured or Indicated Mineral Resources will ever be 
converted into Mineral Reserves and not to assume that all or any part of a 
Mineral Resource is economically or legally mineable.

[1] For more information about the merger, please refer to the Company's 
Current Report on Form 8-K (SEC File No. 000-54645) filed with the Securities 
and Exchange Commission on April 12, 2012, as amended on May 16, 2012 and May 
31, 2012.

[2] Internal estimates, not SEC Guide 7 compliant proven or probable reserves.

[3] Internal estimate, not SEC Guide 7 compliant proven or probable reserves.



SOURCE  Eastern Resources, Inc. 
Robert Trenaman, President and Chief Operating Officer, Eastern Resources 
Inc., +1-604-687-4450, robert.trenaman@elkhorngoldfields.com 
http://www.easternresourcesinc.com 
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CO: Eastern Resources, Inc.
ST: Delaware
NI: MNG  
-0- Jun/12/2012 08:04 GMT
 
 
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