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East Asia Minerals Proceeds With $2M Private Placement

Vancouver, British Columbia, March 21, 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 $2,000,000 under the same terms previously announced (an offering of 33,333,333 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 Company may 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.

 

East Asia Provides Update On Company Activities

The Company is pleased to provide an update on current exploration activities relating to the ongoing Indonesian Feasibility Study (IFS), AMDAL Environmental report status, geotechnical and metallurgical work being conducted at its Sangihe gold property in Indonesia.

The Company’s focus is on completing Indonesian Feasibility Study (IFS) and AMDAL Environmental reports as 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 by mid 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 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.

The IFS, which is being conducted by Resindo Resources and Energy, an Indonesian consulting firm is well underway and comprised of several elements:

  1. Metallurgical drilling to identify the most suitable heap-leaching locations.
  2. Geotechnical drilling to provide the most up to date and accurate core samples for pit wall design, fragmentation of ore and ore excavation rates.
  3. Hydro-geological surveying to help locate and identify the water table level in the pit design and best water sources needed for upcoming drilling, heap-leaching and ultimately gold production.

All drilling required for the IFS was completed by the end of December 2017 and the metallurgical test results are as follows:

  1. Bottle Roll Test of the Cyanide Soluble assay results showed gold recoveries of 85% and silver recoveries of 96%.
  2. Agglomeration test results have been completed in January with the majority of the samples tested agglomerating very well
  3. Carbon Column Test work after two weeks in the column reached 80% recovery of gold.
  4. Acid Forming test work of overburden rock samples taken from the geotechnical drilling core commenced on January 27th 2018

The IFS and environmental report are targeted for completion by the end of the first quarter of 2018.

Long Term Sangihe Project report was prepared and submitted to the Indonesian government in December 2017

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.

CEO, Terry Filbert is back in Indonesia and has many meetings scheduled with various consultants and government officials pertaining to both the Sangihe and Miwah projects and the Company will have further updates for its shareholders in the coming weeks.

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 Thanks Shareholders

VANCOUVER, B.C. February 5, 2018 – East Asia Minerals Corporation (TSXV-EAS) (the “Company”) would like to provide the following message to shareholders from Terry Filbert, Chairman and CEO of the Company:

“On behalf of the management team and Board of Directors, I would like to thank the shareholders for the overwhelming support, received at the annual and special general meeting of shareholders, held February 1, 2018, in Vancouver, B.C.”

“My first order of business will be returning to Jakarta, Indonesia this week to oversee all aspects of the Indonesian operations. I will be conducting a mine-site visit to our Sangihe gold project and meetings are scheduled to be held with local government officials from the Aceh Province in order to advance its efforts on the Miwah project. The discussions are part of the ongoing process required to bring the Miwah project current and in compliance with both local and federal regulations.

Mr. Filbert further commented: “All activities at the Sangihe project continued during the recent shareholder proxy challenge. The Company continues to make excellent progress towards its goal of gold production at Sangihe, which is on track to commence later in 2018. Construction permits and licenses as well as the hiring of additional local staff are also scheduled for completion in the coming weeks.

The Company anticipates releasing a detailed exploration/operational update later this week regarding the progress made on Sangihe gold project since the last update (news release December 13, 2017).  Shareholders are also encouraged to review the 2018 Work Program available on the Company website

https://eastasiaminerals.com/investors/2018-work-program

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 266,000 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.

 

Oh 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.

The Company cautions readers that the any production decision made by the Company will probably 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.

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 $2M Private Placement

Vancouver, British Columbia, February 2, 2018. East Asia Minerals Corporation “Company”), (TSXV:EAS) (East Asia Minerals or the “Company”) announces a private placement raising $2,000,000 through an offering of 33,333,333 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 Company may 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.

“We are very pleased to announce this financing which to advance the development of the Sangihe project, including but not limited to the construction of the future heap leach pads and the processing plant” said Terry Filbert, CEO of East Asia Minerals Corp. “We look forward to updating shareholders as we progress.”

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.

East Asia Minerals Announces Record AGM Voting Results

Vancouver, British Columbia – February 1, 2018 – East Asia Minerals Corporation (TSX-V: EAS) (“East Asia Minerals” or the “Company“) is very pleased to announce the voting results from its Annual and Special General Meeting of Shareholders (the “Meeting”), held Thursday, February 1, 2018 in Vancouver, B.C.

Over 64% of the issued and outstanding shares were voted at the Meeting out of which more than double the votes submitted by the Dissidents overwhelmingly approved the following resolutions proposed by the Management in the information circular of the Company dated December 22, 2017 and filed on www.sedar.com on January 5, 2018:

  1. To set the number of directors at four (4);
  2. The election of directors of Terry Filbert, R. Scott Chaykin, Alan McMillan and Garry Kielenstyn;
  3. The appointment of Davidson & Company LLP as the Company’s auditors for the ensuing year; and
  4. The adoption of new articles for the Company.

The Management withdrew consideration of the adoption of the new Stock Option Plan and Restricted Share Unit Plan for the time being.

“On behalf of the Management team and Board, I would like to thank the overwhelming support we have received from our shareholders.” said Terry Filbert, Chairman &CEO of East Asia Minerals. “We hope to put the disruptive actions of the dissidents behind us and continue forward. The team is eager to return to focusing its efforts on delivering value to our shareholders in the near and long term.”

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.

 

East Asia Provides Background on Deficiencies in the Dissident Disclosure and Order of the BC Supreme Court

VANCOUVER, B.C. January 26, 2018 – East Asia Minerals Corporation (TSXV-EAS) (“East Asia Minerals” or the “Company“) provides background on the adjournment of the Annual General Meeting and the deficient disclosure of the dissidents, Vishal Gupta and Patrick Cronin (the “Dissidents“).

As previously announced, the Annual General Meeting (the “Meeting“) has been adjourned by an order of the BC Supreme Court to Thursday, February 1, 2018 to allow shareholders more time to address the additional disclosures provided by the Dissidents. These additional disclosures arise as a result of concerns and questions raised by the Company in respect of the Dissident’s prior public disclosures.

Shareholders are encouraged to read the Company’s letter to the Dissidents requesting answers in regard of the following, among other things:

  • The failure to disclose, as required by law, the identity and arrangements with the “other shareholders” whom the Company had been told comprised the Dissident group, including several parties with histories of serious regulatory sanctions;
  • The failure to disclose, as required by law, the number of shares owned and controlled by the above group;
  • The failure to disclose, as required by law, who is bearing the costs of the Dissident campaign (which the Dissidents expect to seek reimbursement from the Company);
  • Misleading biographical histories of the Dissident nominees, including the omission of material details such as the serious regulatory sanctions against Mr. Cronin.
  • Deficiencies in the Dissident blue proxy including the use of that proxy by the Dissidents without specific instructions from the appointing shareholders;
  • Possible unlawful solicitation by the Dissidents prior to their filing required disclosures with the securities regulators; and
  • The failure to comply with other applicable securities disclosure requirements and filings;

The Company’s letter to the Dissidents can be found on the Company’s website here.

Although Dissidents disputed that their disclosure was deficient, the Dissidents nonetheless prepared and filed a supplemental information circular and new form of proxythe night before the proxy cut-off.

The Company is continuing its review of these materials in light of of its earlier concerns to communicate with the securities regulatory authorities.

How to Vote
If you have already voted management’s WHITE proxy in support of the current Board, no further action is required as your proxy will remain in effect. Discard any proxies received from the Dissidents.

If you have not voted or want to change your vote and support the recently renewed Board who is currently in place, you may vote online or by telephone by following the instructions found in the management’s WHITE proxy card. The later dated proxy card will count.

Vote using management’s WHITE proxy prior to the new deadline on Tuesday, January 30th at 10 a.m. (Vancouver Time).

Further Information or Assistance
For more information or if you require assistance with voting, please contact the Company’s proxy solicitation agent, Laurel Hill Advisory Group at:

Laurel Hill Advisory Group
North America Toll Free:  1-877-452-7184
Collect Calls Outside North America: 1-416-304-0211
Email:  assiatance@laurelhill.com

or

Mark Sommer
East Asia Minerals Corporation
Telephone: 1-604-684-2183
Email: info@eastasiaminerals.com

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

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.

 

 

Leading Independent Proxy Advisory Firm Recommends that Shareholder’s of East Asia Minerals Vote FOR the Incumbent Board

VANCOUVER, B.C. January 26, 2018 – East Asia Minerals Corporation (TSXV-EAS) (“East Asia Minerals” or the “Company“) is pleased to announce that Glass Lewis & Co (“Glass Lewis“) supports the election of management’s nominees for the board of directors who is currently in place. With regards to the adjournment of the shareholder meeting to Thursday, February 1, 2018, the Company will address the reasons in forthcoming communications.

Glass Lewis is a leading independent corporate governance and proxy advisory firm who provides analysis and vote recommendations intended to assist its clients in making proxy voting decisions. These clients include pension funds, investment managers, mutual funds and other institutional shareholders who rely on Glass Lewis’ expert and unbiased recommendation. After carefully reviewing the facts and arguments made by both the Company and Messrs. Vishal Gupta and Patrick Cronin (the “Dissidents“), Glass Lewis has made the following points in recommending a vote FOR the incumbent Board against the Dissident’s proposed slate.

“We welcome the unbiased report and recommendation from Glass Lewis,” said Terry Filbert, CEO and Chairman of East Asia Minerals. “Glass Lewis’ analysis backs our belief that the future of the Company best lies in the hands of the incumbent board who have worked hard to bring the Company back on track since being appointed in March 2017.”

On the Dissident’s plan- “largely lacking in substance”

  • “… the Dissidents have failed to provide shareholders with key details as to how its nominees would go about enacting the Dissidents’ plan for the Company…the Dissidents have not outlined a funding plan for the development of the Miwah Project, nor have the Dissidents indicated how its nominees would specifically go about obtaining the requisite government approvals for the project. The Company has also noted that the Aceh Government will not work with the Company’s former management…we believe that the Dissidents’ plan for the Company is largely lacking in substance.

On the current Board’s Plan- “sensible”

  • “…by bringing the Sanighe Project into a stage of production and cash flow generation, the Company would be better positioned to internally fund the development of the Miwah Project, as well as rebuild trust and goodwill with the relevant government authorities.”

On the Dissidents – “back-door attempt…to gain control”

  • “the lead Dissidents (I.e., Messrs. Vishal Gupta and Patrick Cronin) hold leadership roles [President and CEO and Chairman respectively] with a competing mining firm in CGM [California Gold Mining Inc.]. We believe that these factors could perhaps be more indicative of a back-door attempt by the Dissidents/CGM to gain control of the Company, as opposed to a committed major shareholder truly looking to promote positive and proactive changes at the Company.”

Overall, the Dissidents have cost the Company significant time and money when it could focused on creating shareholder value. It also bears highlighting that the Dissidents criticism of the current Board’s share ownership is hyporcritical when the dissident nominees only own approximately 1.0% of the Company’s stock.

The Company would like to thank its shareholders for the tremendous support received to date and to remind those who have not yet voted, that Shareholders still have time to stop the dissident take over. Vote management’s WHITE proxy card FOR the recently renewed and current Board. 

How to Vote
If you have already voted management’s WHITE proxy in support of the current Board, no further action is required. Discard any proxies received from the Dissidents.

If you have not voted or want to change your vote and support the recently renewed Board who is currently in place, you may vote online or by telephone by following the instructions found in the management’s WHITE proxy card. The later dated proxy card will count.

Vote using management’s WHITE proxy prior to the new deadline on Tuesday, January 30th at 10 a.m. (Vancouver Time).

Further Information or Assistance
For more information or if you require assistance with voting, please contact the Company’s proxy solicitation agent, Laurel Hill Advisory Group at:

Laurel Hill Advisory Group
North America Toll Free:  1-877-452-7184
Collect Calls Outside North America: 1-416-304-0211
Email:  assiatance@laurelhill.com

or

Mark Sommer
East Asia Minerals Corporation
Telephone: 1-604-684-2183
Email: info@eastasiaminerals.com

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

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 Shareholder Meeting Adjourned

VANCOUVER, B.C. January 25, 2018 – East Asia Minerals Corporation (TSXV-EAS) (“East Asia Minerals” or the “Company“) would like to advise shareholders that the annual and special general meeting of the Company has been adjourned from January 26, 2018 to February 1, 2018 at 10 a.m. Pacific Time.

The Company will provide more details including the meeting location in a forthcoming communication.

Shareholders who have not voted as of yet are encouraged to vote online or by telephone by using management’s WHITE proxy, prior to the new deadline on Tuesday, January 30th at 10 a.m. (Vancouver Time). 

Further Information or Assistance
For more information or if you require assistance with voting, please contact Laurel Hill at:

 

Laurel Hill Advisory Group
North America Toll Free:  1-877-452-7184
Collect Calls Outside North America: 1-416-304-0211
Email:  assiatance@laurelhill.com

or

Mark Sommer
East Asia Minerals Corporation
Telephone: 1-604-684-2183
Email: info@eastasiaminerals.com

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

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 Reminds Shareholders of Important Vote

  • Your investment is at risk. Shareholders reminded to vote prior to January 23, 2018.
  • Largest shareholder at over 20%, supports the incumbent Board.
  • New management team and Board of Directors have poised the Company for growth in 2018.

VANCOUVER, B.C. January 19, 2018 – East Asia Minerals Corporation (TSXV-EAS) (“East Asia Minerals” or the “Company“) reminds shareholders of the important vote at this year’s annual and special general meeting (the “Meeting”) being held on January 26, 2018.

“At the upcoming Meeting, shareholders will face a contested election for the Board of Directors,” explained Terry Filbert, East Asia Minerals’ CEO and Chairman. “In March 2017, I joined East Asia Minerals as CEO and Chairman, along with a new Board of Directors and management team to lead the Company. Since then, your new team has accomplished more in the last few months than the previous management team and directors had over the past five years. The strategy set by the incumbent Board has preserved and revitalized our assets. However, the dissident nominees pose a threat to this positive momentum.”

Furthermore, the Company is pleased to announce that its largest shareholder holding over 20% of the outstanding shares, Tocqueville Asset Management, is supportive of the renewed management team and Board of Directors. This support is further evidenced by their vote cast in favour of the incumbent Directors.

 Background

 On December 22, 2017, the Company received notice from Messrs. Vishal Ghupta and Patrick Cronin, stating their intentions to put forward five dissident director nominees (the “Dissident Nominees“) for election at the upcoming Meeting to replace the incumbent board. Shareholders should be make an informed decision before voting and note the following:

  • The proposed five dissident nominees has been reduced to four and Mr. Cronin is no longer a dissident director nominee. This is most likely due to the Company having uncovered and disclosing crucial information to Shareholders that Cronin is currently serving a 10 year ban sanctioned by the Canadian securities regulatory authority, the Mutual Fund Dealers Association, for problematic actions. Although Mr. Cronin is no longer a dissident nominee, he is still leading the dissident campaign with Mr. Ghupta.

More startling details about the Dissident Nominees can be found in the letter to shareholders dated January 15, 2018 that was recently mailed out to shareholders.  The letter to shareholders can also be found on the Company’s website at www.eastasiaminerals.com.

 Dissidents’ Faulty Business Plan

 The Sangihe and Miwah Projects

The dissident’s state they will immediately stop all activities and expenditures on the Company’s Sangihe project and focus solely on the Miwah project should the Dissident Nominees be elected. This statement only emphasises the lack of knowledge the Dissident Nominees have regarding the Company and the intricacies involved in its projects in Indonesia.

Management and the Board of Directors aim to develop both the Sangihe and Miwah projects. When the new management team and Board of Directors started, the Sangihe asset was within a few weeks of being lost as a result of unpaid and overdue Dead rent. This would have been devastating to the Company due to Sangihe being the only asset that can provide revenue and profit in the near term, as well as provide a much larger resource once it is completely explored and drilled. With regards to the Miwah project, the local Aceh government had deemed it abandoned by the former management due to non payment of fees, no filing of any reports required by the Aceh government since 2015, and the former management’s unresponsiveness to a legal issue brought forth by a government official in that same year. Since joining in March 2017, the current management team has been working on repairing the Company’s relationship with the Indonesian government and has started to establish good will with members of the Aceh and Federal governments, in order to develop a path to bring the Miwah project current and to show the Company’s sincerity in making Miwah a success. Demonstrating that the Company can bring the Sangihe project into production is imperative in convincing those officials that East Asia Minerals is no longer a “talk only” company but a real and profitable mining company that does as it promises. To abandon the Sangihe project as the dissidents propose, is to also abandon the Miwah project. Detailed information regarding the projects and the 2018 work plan can be found in the investors presentations on the Company’s website at www.eastasiaminerals.com.

No Succession Plan

Additionally, the Dissident Nominees have admitted to having no succession plan should they take the Company over and state that they “have made no definitive determinations as to the composition of the management team…”. Shareholders should be concerned that with no leader and no management team to helm the Company, the great progress accomplished to date, may start back at ground zero. Shareholders should not have to settle for an uncertain future with an uncertain and unproven team.

 Vote FOR the Renewed and Experienced Board of Directors Who Are Delivering

The renewed Board of Directors and management team have placed the company in a position to grow and they have been able to accomplish more in the last few months than the previous management team and directors had over the past five years.

The Company is at the cusp of becoming a profitable producer in 2018 and adding value to its shareholders’ investment.  Therefore, now is not the time for change. Vote FOR the recently renewed Board of Directors who has and will continue to steward the Company forward.

 Shareholders are encouraged to vote online or by telephone by using management’s WHITE proxy, prior to the deadline on January 24th at 10 a.m. (Vancouver Time).

 

Further Information or Assistance

 East Asia Minerals has retained Laurel Hill Advisory Group (“Laurel Hill”) as their Proxy Solicitation Agent. For more information or if you require assistance with voting, please contact Laurel Hill at:

 

Laurel Hill Advisory Group
North America Toll Free:  1-877-452-7184
Collect Calls Outside North America: 1-416-304-0211
Email:  assiatance@laurelhill.com

or

Mark Sommer
East Asia Minerals Corporation
Telephone: 1-604-684-2183
Email: info@eastasiaminerals.com

 

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

 

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 Provides Update on Drilling Progress For Indonesian Gold Property

The Company is pleased to provide an update on current exploration activities relating to the ongoing Indonesian Feasibility Study (IFS), AMDAL Environmental report status, geotechnical and metallurgical work being conducted at its Sangihe gold property in Indonesia.

The Company’s focus is on completing Indonesian Feasibility Study (IFS) and AMDAL Environmental reports as 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 by mid 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 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.

The IFS, which is being conducted by Resindo Resources and Energy, an Indonesian consulting firm, is well underway and comprised of several elements:

Metallurgical drilling of three twin holes has been completed during the month of October.  These holes identify the most suitable heap-leaching locations.  Samples obtained are currently undergoing Metallurgy Bottle Roll Test work at Geoservices Laboratory. Cyanide Soluble assay results received for the metallurgy samples submitted showed gold recoveries of 85% and silver recoveries of 96%.

Drilling of six geotechnical holes, has commenced with hole number three in progress. This drilling is a required component for Indonesian Feasibility Study (IFS) in order to provide the most up to date and accurate core samples for pit wall design.

Hydro-geological surveying is complete and is designed to help locate and identify the water table level in the pit design and best water sources needed for upcoming drilling, heap-leaching and ultimately gold production.

The Company is very pleased with the drilling progress considering the weather conditions have been less than favorable.  The monsoon season started earlier than normal this year making the drilling process difficult which could ultimately delay the final AMDAL and IFS reports by a few weeks.

Overall Site Layout including the location of heap leach pads, processing plant and waste dump areas has been completed. The Overall Site Layout was designed to be very concise and therefore has a total footprint area of 42 hectares which is 0.1% of the 42,000 hectares Sangihe gold property total area.

Frank Rocca, BAppSc.(Geology), MAusIMM, 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

 

Per:      “Terry Filbert”                       

Terry Filbert, Chairman & CEO

 

 

For further information, contact Mark Sommer  at 1-604-684-2183,  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.