East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) reports that its board of directors has
approved the settlement of up to $782,723 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 13,045,380
common shares of the Company (the “Shares”) at a deemed price of $0.06 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
On behalf of the Board of Directors of East Asia Minerals,
Chairman & CEO
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.