VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 12, 2010) -East Asia Minerals Corporation (TSX VENTURE:EAS) announces thatit has received the final batch of gold assays for EMD033, completingthe composite gold section. Combined with recently announced partialassays (see July 7, 2010 news release), EMD033 encountered 1.51g/t gold over 270.5 metres, including 2.33 g/t gold over 89 metresfollowed by 1.87 g/t gold over 71 metres. Further in the hole, EMD033assayed 0.57 g/t gold over 36.6 metres and ended in mineralization. Thecomplete alteration interval, ending in gold mineralization at 349.6metres, gave 1.34 g/t gold over 323.1 metres. This hole has greatlyexpanded the gold-rich Miwah Main Zone in Aceh Province, NorthernSumatra, Indonesia, and has further confirmed the potential to connectwith the Moon River area.
EMD033 was drilled northeast from EMD014/026 using a 030 degreeazimuth and 55 degree dip to test the extension ofalteration/mineralization northeast of the Block M portion of the MiwahMain Zone and southwest of Moon River. The hole was completed at 349.6metres downhole depth and encountered 1.51 g/t gold from 26.5 to 297metres, including 2.33 g/t gold from 58 to 147 metres, and 1.87 g/t goldfrom 162 to 233 metres. Further in the hole, 0.57 g/t gold wasencountered from 313 to 349.6 metres. The complete alteration packagegave 1.34 g/t gold from 26.5 metres to end of hole at 349.6 metres. Themineralization is open to the north, east and at depth, and isinterpreted to be contiguous to gold-rich holes drilled in all otherdirections. EMD033 has made a substantial positive impact towardsendorsing the modelled upside of the Miwah Main Zone being continuous tothe Moon River area. Should the Miwah Main Zone connect to the MoonRiver area, the potential is to double the initial pre-drilling modelsize.
EMD034 was reported July 7, 2010 and validated the recentlyrecognized west gold-bearing extension of the Miwah Main Zonecontinuously over a three-hole east-west fence (EMD028, 032, 034).Assays are pending for holes EMD035 and 036 which respectivelyencountered visually favourable alteration/mineralization from 43.2 to114.1 metres; and from 19.6 to 34.1 metres, 59 to 105.9 metres and 158.7to 182 metres. EMD037 encountered visually favourablealteration/mineralization from 34 to 137 metres, and 165 to 186.3 metreswhere the hole was abandoned due to difficult ground conditions. Assaysare pending. Replacement hole EMD037B has commenced with a 129 degreeazimuth and 50 degree dip. EMD038 is progressing towards the targetgold-bearing horizon. (Refer to drill location map at www.EAminerals.com).
East Asia has drill validated the 1.2 kilometre east-west outcroppingwidth of the shallow, laterally extensive Miwah Main Zone, and hasencountered gold mineralization in all of its holes. The Miwah Main Zoneremains open in all directions with the Moon River area expanding thenorth-south potential to more than 600 metres, whilst remaining openfurther to the north towards Sipopok. Drilling has extended the MiwahMain Zone towards a similar northing as Moon River. Sampling west of theMiwah Main Zone in the Signal area has potentially expanded theeast-west width another 600 metres and remains open.
Miwah Background
The Miwah Gold Prospect was partially defined by approximately3,100 metres of drilling in twelve holes by a previous explorer in 1997.All holes drilled during this program intersected significantalteration and mineralization with intercepts including 71 metres of 1.4g/t gold and 58 metres of 1.1 g/t gold. The previous explorer suggestedpotential for 100 Mt at 1.1 to 1.2 g/t gold, however a review of thehistorical data indicates that early drilling was parallel to highergrade (greater than 5 g/t gold) structures at surface. Hence, inaddition to greater mineralized tonnage, significantly higher overallgrades are anticipated from better geological understanding, results ofthe Company's detailed sampling, and from the ongoing drill programwhich is based on increased geological understanding. An example is theintersection of 3.96 g/t gold over 111 metres, including 15.74 g/t goldover 22 metres from East Asia's diamond drill hole EMD024.
Based on the Company's work Miwah is resolving into two components; alarge 1,200 metre long, at least 450 metre wide, approximately 200metre thick tabular zone; and vertical diatreme breccia feeder zonesthat are beneath and cut through this. At Miwah Gold Zones, East Asiahas almost 2,500 metres of rock sawn channel samples which average 2.35g/t gold. Grade expectations in Main Miwah Gold Zone exceed 1.5 g/tgold. Ongoing sampling verified the Company's confidence that higheroverall gold grades can be achieved due to the presence of multiple highgrade rock sawn channel samples throughout the strike, including 4.11g/t gold over 200 metres at the eastern part of the Main Miwah GoldZone, and 4.35 g/t gold over 27 metres at the western part. Recentdrilling has supported this. In addition to the tabular zone the Companyhas begun to characterize some of the diatreme breccia feeder zones,with rock sawn channel samples including 83.59 g/t gold over 24 metresand 20.14 g/t gold over 12 metres. Recent drilling has supported this.These feeder zones have great potential to develop into substantialtonnages of higher grade gold mineralization in an area adjacent to theMain Miwah Gold Zone.
The Miwah Property is in a very similar volcanic setting to theMartabe gold-silver deposit, also located in North Sumatra (Purnamaand Baskara resources: 127.8 million tonnes at 1.4 g/t gold (5.5 millionounces gold) and 15 g/t silver (60 million ounces silver), and thealteration system is of a comparable size. Miwah also exhibits alikeness to the size, style and geometry of the alteration systemdeveloped at the Pierina gold deposit in Peru (67.7 Mt grading 2.98g/t gold and 22 g/t silver, giving a total 6.49 million ounces gold and47.9 million ounces silver).
Samples reported were assayed at Intertek assay laboratories inJakarta. Lionel Martin, P.Geo., the designated QP within the meaning ofNI 43-101, has reviewed and approves the content of this release. EastAsia has not verified the classification of the resource references andis not treating them as NI 43-101 defined resources verified by a QP.Although the references of resources are relevant to recognizing thepotential of the Miwah project, they should not be relied upon.
About East Asia Minerals Corporation
East Asia Minerals (TSX VENTURE:EAS) is an Asian-based,Canadian mineral exploration company with gold and copper explorationproperties in Indonesia, and uranium exploration properties in Mongolia.In Indonesia the Company has a 70 to 85% interest in six advanced goldand gold-copper properties located in Aceh Province, Sumatra, andSangihe Island, North Sulawesi. Two of these, the Sangihe(Binebase-Bawone) and Barisan 1 (Abong) gold projects, are beingadvanced to define NI43-101 compliant resources. The Company owns eighturanium properties, including the advanced Ingiin-Nars, Ulaan Nuur andEnger uranium projects, and two phosphate properties in Mongolia. EastAsia currently has 75,503,372 shares outstanding. Its shares are listedfor trading on the TSX Venture Exchange under the symbol "EAS".
Forward Looking Statements - This News Releasecontains forward looking information within the meaning of the BritishColumbia Securities Act, the Ontario Securities Act and the AlbertaSecurities Act, which involve known and unknown risks, uncertainties andother factors which may cause the actual results, performance orachievements of the Company, or industry results, to be materiallydifferent from any future results, performance or achievements expressedor implied by such forward-looking statements. Forward-lookingstatements are subject to a variety of risks and uncertainties whichcould cause actual events or results to differ from those reflected inthe forward-looking statements, including, without limitation, risks anduncertainties relating to the interpretation of drill results and theestimation of mineral resources and reserves, the geology, grade andcontinuity of mineral deposits, the possibility that future exploration,development or mining results will not be consistent with ourexpectations, metal recoveries, accidents, equipment breakdowns, titlematters and surface access, labour disputes or other unanticipateddifficulties with or interruptions in production, the potential fordelays in exploration or development activities or the completion of newor updated feasibility studies, the inherent uncertainty of productionand cost estimates and the potential for unexpected costs and expenses,commodity price fluctuations (including uranium, fuel, steel andconstruction items), currency fluctuations, failure to obtain adequatefinancing on a timely basis and other risks and uncertainties. Shouldone or more of these risks and uncertainties materialize, or shouldunderlying assumptions prove incorrect, actual results may varymaterially from those described in forward-looking statements.Accordingly, readers are advised not to place undue reliance onforward-looking statements. The words anticipate, believe, estimate andexpect and similar expressions, as they relate to us or our management,are intended to identify forward looking statements relating to thebusiness and affairs of the Company. Except as required under applicablesecurities legislation, we undertake no obligation to publicly updateor revise forward-looking statements, whether as a result of newinformation, future events or otherwise.
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