East Asia Provides Correction to News Release Issued June 19, 2019

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) would like to announce that further to its news release on April 29, 2019, the Company increased the private placement offering from  4,166,667 units at $0.06 per common share to 6,761,333 units for an aggregate amount of $405,680.

The Company has closed its second and final tranche of 5,261,333 units for total proceeds of $315,680.  The Company will pay a finder’s fee of $21,248.

The securities distributed under the offering will be subject to a 4 month and 1 day hold period expiring October 18, 2019.

EAST ASIA MINERALS CORPORATION  

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 Increases and Completes Financing

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) is pleased to announce an increase in the private placement announced April 29, 2019 of up to $250,000 consisting of 4,166,667 units (the “Units”) at $0.06 per Unit (the “Offering”). 

 The Company has completed the final tranche of the private placement offering of 5,261,333 units for aggregate proceeds of $316,680.  The Company will pay a finder’s fee of $21,248. 

 The securities distributed under the offering will be subject to a 4 month and 1 day hold period expiring October 18, 2019. 

 The offering was over subscribed with total proceeds of $450,060 raised in two tranches 

 EAST ASIA MINERALS CORPORATION  

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 Completes 1st Tranche of Financing

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) is pleased to announce that further to its news release on April 29, 2019, the Company has completed its first tranche of the private placement offering of 1,500,000 units for total proceeds of $90,000.

The Company will pay a finder’s fee of $630.

The securities distributed under the offering will be subject to a 4 month and 1 day hold period expiring September 9, 2019.

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.

The Company is pleased to inform its shareholders that it has relaunched its EAS Twitter account and welcome new followers to join us at @eastasiamincorp Or https://mobile.twitter.com/eastasiamincorp

EAST ASIA MINERALS CORPORATION  

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 Announces Private Placement

Vancouver, British Columbia – East Asia Minerals Corporation (the “Company(EAS:TSX.VEAIAF:OTCBB) announces private placement of up to $250,000 consisting of 4,166,667 units (the “Units”) at $0.06 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 $0.12 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 acquiring the production licence for the Sangihe Project during the final stages of closing the credit facility loan of up to USD5,000,000 announced on March 1, 2019. 

 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. 

 

EAST ASIA MINERALS CORPORATION  

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. 

 

 

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East Asia Minerals Corp Announces Shared for Debt Transaction

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) reports that its board of directors has approved the settlement of up to $179,000.000 of debt through the issuance of common shares of the Company (the “Debt Settlement”). Pursuant to the Debt Settlement, the Company would issue up to 3,570,000 common shares of the Company (the “Shares”) at a deemed price of $0.05 per Share to certain creditors of the Company, including certain directors and officers (the “Creditors”) 

The issuance of the Shares to the Creditors is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.  

As certain insiders participated in the Debt Settlement, it is considered to be a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction (“Mi-61-101”). All of the independent directors of the Company, acting in good faith, considered the transactions and determined that the fair market value of the securities being issued to insiders and the consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation and  minority shareholder approval requirements of MI 61-101 contained in section 5.5(a) and 5.7(a). 

EAST ASIA MINERALS CORPORATION  

Per: “Terry Filbert” 

Terry Filbert, Chairman and 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 Lists with OCMX and offers USD$5 million Secured Promissory Notes

East Asia Minerals Corporation. (the `Company` or `EAS`) (TSX-V) is pleased to announce that it has entered into a credit listing arrangement with Optimize Capital Markets (OCMX) of Toronto to secure a credit facility loan for up to USD$5,000,000 which will be approximately CAD$6,500,000. 

 The Company is offering up to 20 Secured Promissory Notes with a face value of USD$250,000 each (the “Notes”).  The minimum amount of the offering and first closing will occur upon the receipt of subscriptions for 4 of the Notes.  The final closing for the offering will occur upon the receipt of total subscriptions for 20 of the Notes, or earlier at the Company’s discretion.   

 The Note terms will be governed by a credit facility agreement.  The contemplated credit facility will have a maturity of 48 months from the date of the first closing.  The Notes will bear interest at a rate of 11per annum.  The terms of repayment will be interest only for 48 months with the outstanding principal due with the 48th months interest payment.  EAS can, at its sole discretion, elect to repay the Notes after 36 months and before the 48th month.  If EAS elects to repay the Notes early, EAS will, in addition to the principal and interest then due, pay a pre-payment penalty of 2% on the outstanding principal at the time of early repayment.  

 The Notes will be secured against the interest of EAS in the Sangihe (Indonesia) mining project through a mortgage granted against the shares held by EAS in its wholly owned Canadian subsidiary, Sangihe Gold Corporation.  Sangihe Gold Corporation holds a 70% interest in PT TMS, an Indonesian company, which wholly owns the exploration and exploitation license for the Sangihe mining project. 

 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 which have been submitted to the Indonesian Mining Department (MEMR). As soon as funding is in place, construction of the mining facilities and infrastructure can begin at the Sangihe project.. 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 license 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 on long term plans to develop the Sangihe property to generate revenue and positive cash flow for the Company. This will put the company on a fast track to increase shareholder value in a non-dilutive manner”. 

 Frank RoccaBAppSc.(Geology), MAusIMMMAIG, 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. 

 

EAST ASIA MINERALS CORPORATION 

Terry Filbert,
Chairman & CEO

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. 

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 Provides An Overview of 2018 Project Accomplishments And What to Expect In 2019

Vancouver, British Columbia – East Asia Minerals Corporation (TSXV: EAS) (East Asia Minerals or the “Company”) is pleased to provide an year end report and update on current exploration activities for our Sangihe gold project in Indonesia.

SANGIHE PROJECT

The technical accomplishments and developments of 2018 were as follows:

  • Completion and submission of the AMDAL Study for the Sangihe Project to the Environmental Commission in Quarter 2 of 2018. The AMDAL Study is the Indonesian equivalent of an Environmental Impact Assessment and an Environmental Management Plan for the Sangihe Project.
  • Completion and presentation in Quarter 3 of 2018, the Indonesian Feasibility Study for the Sangihe Project to the Indonesian Department of Mining, Energy and Mineral Resources (MEMR). The Indonesian Feasibility Study is a multi-volume document which is the equivalent of a JORC compliant Pre-Feasibility Study for the Sangihe Project.
  • Completion and submission of amendments and clarifications to the Indonesian Feasibility Study requested by the MEMR after their review submitted in Quarter 4 of 2018.

2019 Update
At a meeting scheduled with the MEMR in January 2019, the Company will present the final version of the Indonesian Feasibility Study prior to the MEMR accepting and approving the report.

The AMDAL Study was submitted to the Indonesian Environmental Commission and is currently in the process of review and assessment.  A meeting for the recommendation of the environmental permit prior to acceptance and approval by the Environmental Commission will happen in Jan 2019.

The Company will have further updates for its shareholders in the next few weeks.

The Company’s focus is now on obtaining approvals for the Indonesian Feasibility Study (IFS) and AMDAL Environmental reports as once this is accomplished, the Company can upgrade our licence from feasibility to production.  The license upgrade will enable the Company to begin construction of the mining facilities and infrastructure at the Sangihe project. The Company anticipates making a decision for gold processing and production once approvals are received and funding is in place. 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 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.

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

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. 

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 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.