East Asia Minerals Corporation (TSXV:EAS) (the “Company”) (“East Asia Minerals”, “East Asia, or the “Company”) is pleased to announce the appointment of Mr. Juangga Mangasi Mangunsong as Indonesian Country Manager, as of August 1, 2017, to manage the Indonesian operations and develop the mining assets of both the Sangihe and Miwah properties in Indonesia.
Juangga obtained his mining engineering degree from the Institute of Technology of Bandung, Indonesia. He brings to the Company more than 20 years of extensive experience in the mining industry in Indonesia including several high profile roles acting as Director, Commissioner, Advisory Board Member, Business Analyst, and Mining Engineer for various large mining companies.
Juangga was the President Director of PT Peleburan Tembaga Semare a Copper Smelter company, and is the owner and Commissioner of PT Media Bakti Tambang (Majalah Tambang), a highly regarded Indonesian national magazine.
Juangga is also a member of the Working Group on Energy and Mineral Resources in the National Committee For Economy and Industry for the Republic of Indonesia, which has the charter to update the country’s mining regulations. This committee reports directly to the President of Indonesia.
Terry Filbert, CEO of East Asia Minerals, stated, “As East Asia Minerals gets back to full operations, we have been able to attract talented and experienced mining professionals. Mr. Mangasi provides the Company with a strategic advantage of local expertise and valuable relationships with many of the senior government officials we that we need approvals from which will help keep the projects on schedule and on target.”
The Company is also pleased to announce the return of Mr. Mike Hawkins, the former CEO of East Asia Minerals Corporation (2006-2011). Mike has been appointed as the Company’s Executive Consultant. As the former CEO responsible for identifying and acquiring both Miwah and Sangihe mining projects, which the Company is currently developing he has been appointed to provide guidance and consulting on the asset development of Miwah and Sangihe as well as assisting on identifying and acquiring new mining opportunities for the Company. “During Mike’s tenure, in 2010, the Company reached the historically highest market valuation of $600 million and acquired several gold and uranium properties,” said Mr. Filbert.
Mr. Filbert further commented that, “Mike was responsible for the acquisition and then sale of a uranium mine asset to Areva NC for $83 million and a dividend of $70 million to East Asia shareholders. We are fortunate to have his guidance and access to his 30 plus years of experience as an exploration geologist and executive for major mining companies throughout the Pacific, Asia and South America.
“Mike has gladly accepted the appointment to return and see through those projects he started before he had to leave due to health reasons. Mike’s rejoining our team should give our shareholders confidence that East Asia Minerals is building a strong qualified team that will lead to new opportunities for success based on the historic value of the Company.”
East Asia Minerals Corporation has launched a new updated website to provide the updated information on the company’s current developments and news.
The company is inviting investors to explore its new website. The new website has been designed to provide the ultimate user-friendly experience with improved navigation and functionality throughout, allowing investors to access up to date detailed information on our projects and the company. The site includes extensive project information to help investors understand our two projects in Indonesia.
ON BEHALF OF THE BOARD OF DIRECTORS
Terry Filbert CEO and Director
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For further information, visit the Company’s website at www.eastasiaminerals.com
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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.