SAN DIEGO, July 2 /PRNewswire-FirstCall/ -- Eastern Goldfields, Inc.
(Pink Sheets: EGDD) ("EGI") is pleased to announce that it has received
confirmation from the Securities and Exchange Commission that all
outstanding SEC comments have now been cleared. Accordingly, EGI has
appointed World Trade Financial Corporation ("WTFC"), a registered
broker-dealer, to submit an application to Financial Industry Regulatory
Authority ("FINRA") to move the Company to the Over-the-Counter Bulletin
Board. On June 16, 2008, on behalf of WTFC, Form 211 was submitted to FINRA
with WTFC's intention to sponsor Easter Goldfields for quotation onto the
Over-the-Counter Bulletin Board.

    About EGI: EGI is a growing company engaged in the mining, exploration
and acquisition of gold properties in some of Southern Africa's most
prospective regions.

    FORWARD-LOOKING STATEMENTS

    This press release contains 'forward-looking statements'. These are
statements concerning plans, objectives, goals, strategies, expectations,
estimates, intentions, projections, developments, future events, or
performance, underlying (expressed or implied) assumptions and other
statements that are other than historical facts. In some cases
forward-looking statements can be identified by the use of forward-looking
words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' or
'anticipates,' 'estimates,' or the negative of these words or other
variations of these words or comparable words, or by discussions of plans
or strategy that involve risks and uncertainties. Management wishes to
caution the reader that these forward-looking statements, including, but
not limited to, statements regarding the Company's plans, goals the
estimates and assumptions, and the business strategy of the Company and
other matters that are not historical facts are only predictions. No
assurances can be given that such predictions and the estimates regarding
mineral reserves, success of mining plans, or other projections will prove
correct or that the anticipated future results will be achieved. Actual
events or results may differ materially either because one or more
predictions or assumptions, prove to be erroneous or as a result of other
risks facing the company. Forward-looking statements should be read in
light of the cautionary statements and risks that include, but are not
limited to, the risks associated with a small company, the likelihood that
the assumptions and estimates made, a decline in the price of gold, adverse
labor conditions in the mining labor market in South Africa, the intense
competition the company faces from others, and technological changes. Any
one or more of these or other risks could cause actual results to differ
materially from the future results indicated, expressed, or implied in such
forward-looking statements. We undertake no obligation to update or revise
any forward-looking statement to reflect events, circumstances, or new
information after the date of this press release or to reflect the
occurrence of unanticipated or other subsequent events.

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