East Asia Minerals Closes Final Tranche Of Private Placement With Insider Participation

Vancouver, British Columbia – East Asia Minerals Corporation (TSXV: EAS) (East Asia Minerals or the “Company”) announces that the Company has completed the final tranche of the private placement with an offering of 4,890,000 units for total proceeds of $244,500. There are no finders’ fees payable for this tranche.

All of the securities distributed under the offering are subject to a four-month hold period expiring March 14, 2019.

The Company CEO, Terry Filbert, participated in this final tranche for a total of 3,400,000 units for total proceeds of $170,000.

Terry Filbert commented “A total of one million seven thousand dollars was raised in the last four tranches which enabled the Company to use the net proceeds of the Offering (after payment of commissions) for completion the Indonesian Feasibility Study and Environmental reports to upgrade the Sangihe license to production status, working capital, and to settle payables while keeping the dilution of the current shareholders to a minimum. We hope to receive the Sangihe license upgrade after we complete the final meeting with the Indonesian mining department (MMER) this month. In addition, we will finalize our previously announced US$15,000,000 credit facility, which will expedite the construction of a production facility at our Sangihe project. I am very excited about the future of the Company and therefore wanted to be a part of the current private placement and look forward to an extremely busy next year which is a result of the hard work our team put in this year!”

The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below. 

Sangihe Project
The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of Gold.  The Company’s 70-percent interest in the Sangihe-mineral-tenement contract of work (“CoW”) is held through PT Tambang Mas Sangihe (PTTMS). The remaining 30-percent interest in PTTMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.

On behalf of the Board of Directors of East Asia Minerals,

Terry Filbert,
Chairman & CEO

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

 

 

East Asia Minerals Closes 3rd Tranche of Private Placement

Vancouver, British Columbia –  East Asia Minerals Corporation (TSXV: EAS) (East Asia Minerals or the “Company”) announces that the Company has completed the 3rd tranche of the private placement offering of 7,361,400 units for total proceeds of $368,070.

The Company will pay finders’ fees in the total amount of $750 and 15,000 brokers warrants.

All of the securities distributed under the offering are subject to a four-month hold period expiring February 12, 2019.

The net proceeds of the Offering after payment of commissions will be used by the Company for working capital expenditures related to the Sangihe Project and general working capital.

On behalf of the Board of Directors of East Asia Minerals,

Terry Filbert,
Chairman & CEO

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

 

East Asia Minerals Closes 2nd Tranche of Private Placement

Vancouver, British Columbia – East Asia Minerals Corporation (TSXV: EAS) (East Asia Minerals or the “Company”) announces that the Company has completed the 2nd tranche of the private placement offering of 5,680,000 units for total proceeds of $284,000.

The Company will pay finders’ fees in the total amount of $21,250 and 390,000 brokers warrants.

All of the securities distributed under the offering are subject to a four-month hold period expiring January 14, 2019.

The Company also wishes to announce that it is still proceeding with a private placement raising up to $2,000,000 under the same terms previously announced (an offering of 40,000,000 units (the “Units”) at $0.05 per Unit (the “Offering”) where each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.10 per Warrant Share for a period of 2 years from the closing of the Offering).

The net proceeds of the Offering after payment of commissions will be used by the Company for working capital expenditures related to the Sangihe Project and general operating costs during the final stages of closing the credit facility loan of up to USD$13,500,000 announced on May 31, 2018.

On behalf of the Board of Directors of East Asia Minerals,

Terry Filbert,
Chairman & CEO

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

 

East Asia Minerals Re-Announces Private Placement

Vancouver, British Columbia – East Asia Minerals Corporation (the “Company”) (EAS:TSX.V, EAIAF:OTCBB) re-announces its private placement of up to $2,000,000 consisting of 40,000,000 units (the “Units”) at $0.05 per Unit (the “Offering”) where each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.10 per Warrant Share for a period of 2 years from the closing of the Offering.

The net proceeds of the Offering after payment of commissions will be used by the Company for working capital expenditures related to the Sangihe Project during the final stages of closing the credit facility loan of up to USD$13,500,000 announced on May 31, 2018.

Subject to prior written approval of the Company in its absolute discretion, eligible and accepted subscribers under the foregoing Offering may participate through an exemption contained in Multilateral CSA Notice 45-313 and the various corresponding blanket orders and rules of participating jurisdictions (the “Existing Shareholder Exemption”) or Multilateral CSA Notice 45-318 and various blanket orders and rules of participating jurisdictions (the “Investor Dealer Exemption”).

For eligible and accepted subscribers utilizing the Existing Shareholder Exemption, the Offering is individuals who were shareholders of the Company as at August 31, 2018 (the “Record Date”) (and still are shareholders) who are eligible to participate under the Existing Shareholder Exemption. Any person who became a shareholder of the Company after the Record Date is not permitted to participate in the offerings using the Existing Shareholder Exemption but other exemptions may still be available to them. Shareholders who became shareholders after the record date should consult their professional advisors when completing their subscription form to ensure that they use the correct exemption.

There are conditions and restrictions when relying upon the Existing Shareholder Exemption, namely, the subscriber must: a) be a shareholder of the Company as at the Record Date (and still are a shareholder), b) be purchasing the Units as a principal, i.e. for their own account and not for any other party, and c) may not purchase more than $15,000 value of securities from the Company in any twelve month period. There is one exception to the $15,000 subscription limit. In the event that a subscriber wants to purchase more than $15,000 value of securities then they may do so provided they have first received ‘suitability advice’ from a registered investment dealer and, in this case, subscribers will be asked to confirm the registered investment dealer’s identity and employer.

Subscribers utilizing the Existing Shareholder Exemption must reside in one of the following jurisdictions: Alberta, British Columbia, Manitoba, New Brunswick, Ontario, Nova Scotia, Northwest Territories Prince Edward Island, Québec, Saskatchewan and Yukon. Shareholders resident in Newfoundland and Labrador are not permitted to participate in the Offering under the Existing Shareholder Exemption. Existing shareholders resident in countries other than Canada will need to meet local jurisdiction requirements to participate.

Subscribers implementing the Investor Dealer Exemption must reside in one of the following jurisdictions: Alberta, British Columbia, Manitoba, New Brunswick and Saskatchewan. Subscribers resident in Ontario, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Prince Edward Island, Québec and Yukon are not permitted to participate in the Offering under the Existing Shareholder Exemption. Subscribers resident in countries other than Canada will need to meet local jurisdiction requirements to participate.

On behalf of the Board of Directors of East Asia Minerals,

Terry Filbert,
Chairman & CEO

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

East Asia Minerals Submits Feasibility Study And Completes Legal Requirements For Up To $15 Million (USD)

Vancouver, British Columbia – East Asia Minerals Corporation (the “Company”) (EAS:TSX.V, EAIAF:OTCBB) is pleased to provide shareholders with an update on the  Indonesian Feasibility Study (IFS) and the credit facility for up to $15 million (USD)..

The Company has completed and submitted the Indonesian Feasibility Study on the Sangihe project to the Indonesian Ministry of Energy and Mineral Resources (MEMR) and once approved, construction of the mining facilities and infrastructure can begin at the Sangihe Project. The Company anticipates to begin construction before the end of 2018. The IFS is not a feasibility study as defined by the Canadian Institute of Mining, Metallurgy and Petroleum and as required by National Instrument 43-101 (“NI 43-101”) but is required under Indonesian law in order to obtain a license to construct a production facility. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below.

Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.

The Company has also successfully completed the legal documents required for the credit facility agreement which was announced at the beginning of June. This milestone is subsequent to completing the due diligence process, which included a site visit to the Sangihe mine last month,

CEO Terry Filbert said: “These two accomplishments put the Company one step closer to generating revenue and positive cash flow.  The credit facility will enable us to begin exploration and infill drilling of the Binebase/Bawone corridor to increase both resources and reserves, as well as for general working capital.”

 Credit Facility Terms
The Company has entered into an arrangement with Isatis Capital Group of Montreal to secure a credit facility loan for up to $15 million (USD). The contemplated credit facility will be carried out by a private venture fund (the “Fund”) that will make an offering to US investors (the “Lenders”) of units comprising of promissory convertible notes and common shares of the Fund (the “Units”). The Fund will then loan the Company all proceeds of the Units, and that loan will be secured through a mortgage granted by the Company on the common shares the Company holds in Sangihe Gold Corporation.

The Fund’s Units will be gold loans, convertible to 99.5% gold bullion at LBMA price (minus 5%) after 24 months (following a minimum 12 months advanced notice), at the sole discretion of the Lenders. The Units will mature at 48 months, with 8% annual interest (calculated monthly) on the outstanding principal, and will be redeemable on or before 36 months (but before 48 months) with a 2% penalty.

Sangihe Project
The Sangihe gold-silver-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated ounces and 105,000 inferred ounces of gold. The company’s 70 percent interest in the Sangihe mineral tenement contract of work is held through PT Tambang Mas Sangihe (PT TMS). The remaining 30 percent interest in PT TMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe contract of work agreement is for 30 years upon commencement of the production phase of the project.

On behalf of the Board of Directors of East Asia Minerals,

Terry Filbert,
Chairman & CEO

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

###

East Asia Minerals Grants Stock Options and Private Placement Update

Vancouver, British Columbia – East Asia Minerals Corporation (the “Company”) (EAS:TSX.V, EAIAF:OTCBB) announces that it has granted an aggregate amount of 3,298,572 stock options to directors, management, employees and consultants of the company in accordance of the provisions of the company’s stock option plan, subject to approval of the TSX Venture Exchange. Each option entitles the holder to purchase one common share of the company at an exercise price of $0.05 for a five-year period.

Further to the news release dated June 20, 2018, the Company is still proceeding with a private placement raising up to $2,000,000 under the same terms previously announced (an offering of 40,000,000 units (the “Units”) at $0.05 per Unit (the “Offering”) where each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.10 per Warrant Share for a period of 2 years from the closing of the Offering).

The net proceeds of the Offering after payment of commissions will be used by the Company for working capital expenditures related to the Sangihe Project during the final stages of closing the credit facility loan of up to $17,500,000 (USD$13,500,000) announced on May 31, 2018.

 

On behalf of the Board of Directors of East Asia Minerals,

Terry Filbert,
Chairman & CEO

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

# # #

East Asia Minerals Completes All Lending Requirements On $17.5 Million Credit Facility

Vancouver, British Columbia – East Asia Minerals Corporation (the “Company”) (EAS:TSX.V, EAIAF:OTCBB) is pleased to provide shareholders with an update on the $17.5 Million (CAD) credit facility structure in cooperation with Montreal based Isatis Capital Group Inc (ISATIS).

Isatis has successfully completed the due diligence process for the $17.5 million credit facility agreement which was announced at the beginning of June.  The due diligence included a site visit to the Sangihe mine, accompanied by East Asia Minerals CEO, Mr. Terry Filbert. All lending requirements have been successfully met.

CEO Terry Filbert said: “This funding solution enables East Asia Minerals to move forward aggressively on plans to begin production on the Sangihe property to generate revenue and positive cash flow for the company.  This credit facility will also enable us to begin exploration and infill drilling of the Binebase/Bawone corridor to increase both resources and reserves, as well as for general working capital. This will put the company on a fast track to increase shareholder value in a non-dilutive manner.” The Company cautions readers that the production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below.

 Credit Facility Terms

East Asia Minerals Corp. has entered into an arrangement with Isatis Capital Group of Montreal to secure a credit facility loan for up to $17.5-million ($13.5-million (U.S.).

The contemplated credit facility will have a maturity of 48 months, with East Asia Minerals being able to terminate the loan at 36 months with a 2 percent penalty on remaining money owed, and will be secured by a universal deed of hypothec over the Sangihe project in Indonesia. The loan will have an interest rate of 8 percent and will consist of interest-only payments for the first 18 months of its tenure. The loan, at the discretion of the lender(s) is convertible to 99.9 percent gold bullion as a vehicle of repayment with 12 months advanced notice and contained within a formal off-take agreement.

 Sangihe Project

The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated ounces and 105,000 inferred ounces of gold. The company’s 70 percent interest in the Sangihe mineral tenement contract of work is held through PT Tambang Mas Sangihe. The remaining 30 percent interest in PTTMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe contract of work agreement is for 30 years upon commencement of the production phase of the project.

 On behalf of the Board of Directors of East Asia Minerals,

Terry Filbert,

Chairman & CEO

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

# #

East Asia Minerals Updates $2M Private Placement

Vancouver, British Columbia, June 20, 2018. East Asia Minerals Corporation (TSXV:EAS) (East Asia Minerals or the “Company”) announces that further to the news release dated May 7, 2018, that the Company is still proceeding with a private placement raising  up to $2,000,000 under the same terms previously announced (an offering of 40,000,000 units (the “Units”) at $0.05 per Unit (the “Offering”) where each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.10 per Warrant Share for a period of 2 years from the closing of the Offering).

The net proceeds of the Offering after payment of commissions will be used by the Company for working capital expenditures related to the Sangihe Project during the due diligence process for the credit facility loan of up to $17,500,000 (USD$13,500,000) announced on May 31, 2018.

EAST ASIA MINERALS CORPORATION

 Per:      “Terry Filbert”                       

Terry Filbert, Chairman & CEO

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

East Asia Enters Into $17,500,000 Million Credit Facility Agreement And 1st Tranche Of Private Placement

Vancouver, British Columbia, June 1, 2018. East Asia Minerals Corporation (TSXV:EAS) (“EAS” or the “Company”)  is pleased to announce that it has entered into an arrangement with Isatis Capital Group of Montreal to secure a credit facility loan for up to $17,500,000 (USD$13,500,000)

The contemplated credit facility arranged will have a maturity of 48 months with EAS being able to terminate the loan at 36 months with a 2% penalty on remaining funds owed and will be secured by a universal deed of hypothec over the Sangihe project in Indonesia. The loan will have an interest rate of 8% and will consist of interest only payments for the first 18 months of its tenure. The loan, at the discretion of the lender(s) is convertible to 99.9 gold bullion as a vehicle of re-payment with 12 months advanced notice and contained within a formal offtake agreement.

The credit facility will be made available to EAS through the issuance in the United States of secured and convertible notes maturing at 48 months relying up rule 506 (c) of Regulation D promulgated under the Securities Act, 1933 as amended.

The financing described herein is contingent to market conditions and regulatory approval in United States and Canada.

Funds will be used to bring the Sangihe Gold Project into production, exploration and infill drilling of the Binebase / Bawone Corridor to increase both resources and reserves as well as general working capital.

The Company’s has completed the Indonesian Feasibility Study (IFS) and AMDAL Environmental reports and once they are submitted and accepted by the Indonesian Mining Department (MEMR), construction of the mining facilities and infrastructure can begin at the Sangihe project. The company anticipates making a decision for gold processing and production to begin in 2018. The Indonesian Feasibility Study is not a Feasibility Study as defined by CIM as required by NI 43-101 but is required under Indonesian law in order to obtain a licence to construct a production facility.  The IFS will be re-issued within 30 days as a Pre-Feasibility Study which will identify if all or part of the Mineral Resource may be converted to a Mineral Reserve at the time of reporting. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the “forward looking statement” below.

Terry Filbert, President & CEO of East Asia Minerals Corporation commented that “this funding solution enables EAS to move forward aggressively on long term plans to develop the Sanghie property to generate revenue and positive cash flow for the Company which will enable us to finishing drilling our the Sangihe and increase production and mine life as well as having the recourses to devote to our Miwah project. This will put the company on a fast track to increase shareholder value in a non-dilutive manner”.

Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.

 

Sangihe Project

The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700 indicated and 105,000 inferred ounces of Gold.  The Company’s 70-percent interest in the Sangihe-mineral-tenement contract of work (“CoW”) is held through PT Tambang Mas Sangihe (PTTMS). The remaining 30-percent interest in PTTMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe CoW agreement is for 30 years upon commencement of the production phase of the project.

The Company also announces that it has closed the first tranche of a non-brokered private placement of 2,200,000 units of the Company (the “Units”) at $0.05 per Unit for gross proceeds of $111,000 (the “Offering”).

Each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase warrant (a “Warrant”).  Each Warrant entitles the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.10 per Warrant Share for a period of two years from the closing of the Offering.

The Company has paid eligible finders a cash commission in the aggregate amount of approximately $3,570 and 71,400 finders warrants (“Finders Warrants”) on the Offering within the amount permitted by the policies of the TSX Venture Exchange (the “Exchange”).  Each Finders Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.10 for a period of two years from the closing of the Offering.  All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The net proceeds of the Offering after payment of commissions will be used by the Company to pay expenses related to the Company’s properties in Indonesia, settle payables and for working capital.

EAST ASIA MINERALS CORPORATION

 Per:      “Terry Filbert”                       

Terry Filbert, Chairman & CEO

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

 

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East Asia Minerals Updates $2M Private Placement

Vancouver, British Columbia, May 7, 2018. East Asia Minerals Corporation (TSXV:EAS) (East Asia Minerals or the “Company”) announces that further to the news release dated February 1, 2018, that the Company is still proceeding with a private placement raising up to $2,000,000 under the same terms previously announced (an offering of 40,000,000 units (the “Units”) at $0.05 per Unit (the “Offering”) where each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to purchase one additional common share in the capital of the Company (a “Warrant Share”) at a price of $0.10 per Warrant Share for a period of 2 years from the closing of the Offering).

The Company would like to advise its shareholders that alternative funding options are being explored and arranged and accordingly, the private placement may fund only a portion of up to the targeted $2,000,000 raise. The Company may also pay eligible finders a finder’s fee of cash, warrants or a combination of both.

The net proceeds of the Offering after payment of commissions will be used by the Company to pay expenses related to the exploration and development of the Company’s properties in Indonesia, settle payables and for working capital. Specifically, the exploration and development expenses will fund the development of Sangihe Project and other business developments.

East Asia Minerals Corporation
Terry Filbert, Chairman & CEO

Investor Information
For further information, contact:
Mark Sommer
T: 1-604-684-2183
E: info@eastasiaminerals.com
Or visit the Company’s website at www.eastasiaminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.