Eastfield Resources Ltd. announced a non-brokered private placement of 2,000,000 units at an issue price of CAD 0.06 per unit for gross proceeds up to CAD 120,000, with each unit to consist of one common share and one half of one share purchase warrant, with each warrant to entitle the holder to purchase an additional common share at a price of CAD 0.10 for a period of 18 months from closing; and up to 2,000,000 flow-through shares at an issue price of CAD 0.08 per share for gross proceeds of up to CAD 160,000, for an aggregate placement of up to CAD 280,000 on September 20, 2022. The transaction will include participation from certain insiders of the company. The company may pay finder's fees in accordance with the rules and policies of the TSX Venture Exchange.

The placement is subject to the completion of formal documentation and receipt of all necessary regulatory approvals, including TSX-V acceptance. The securities issued pursuant to these private placements will be subject to a hold period expiring four months and one day from the date of issuance in accordance with applicable Canadian securities laws.