East Asia Minerals Announces Intention to Spin Out Assets to
      Shareholders

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EAST ASIA MINERALS ANNOUNCES INTENTION TO SPIN OUT ASSETS TO
SHAREHOLDERS




VANCOUVER, B.C. -- Friday, March 4, 2011 -- East Asia Minerals
Corporation (TSXV-EAS) is pleased to announce that its Board of
Directors has today approved the implementation of a series of value
enhancing transactions that, subject to applicable regulatory and other
approvals, will result in eligible East Asia shareholders owning shares
in four (4) separate companies.

East Asia Minerals has recently set up three new wholly owned
subsidiaries to which it will transfer most of its non-Miwah assets.
The Company expects to undertake an internal reorganization and work
with the appropriate authorities and its joint venture partners to
transfer the non-Miwah assets from East Asia Minerals to these new
wholly owned subsidiaries:

.. Sangihe Gold Corporation is to become a precious metals exploration
company focused on Eastern Indonesia. It will initially hold East Asia
Minerals' 70% equity interest in the Sangihe gold project in North
Sulawesi, Indonesia.  The Sangihe project has an NI 43-101 compliant
inferred resource of 1,075,263 ounces of gold equivalent (news release
September 22, 2010).
.. Barisan Gold Corporation is to become a gold-copper porphyry
exploration company focused on Indonesia. It will initially hold East
Asia Minerals' 80% equity interest in the Barisan gold-copper
porphyries (including the Abong epithermal gold deposit) and East Asia
Minerals' 75% equity interest in the Takengon gold-copper project, all
located in Aceh Province, Indonesia.  The Upper Tengkereng prospect at
Barisan returned an interval of 40 metres at 1.46g/t gold and 0.48%
copper within a 691-metre fully mineralized hole with 0.39g/t gold and
0.30% copper in UTD002 (news release January 17, 2011).
.. East Asia Energy Corporation is to become a Mongolian mining and
energy company. It will initially hold all of East Asia Minerals'
Mongolian assets, which consist of early stage uranium and phosphate
projects.

The directors and senior management teams of Sangihe Gold, Barisan Gold
and East Asia Energy will consist of current directors and senior
officers of East Asia Minerals.

Upon completion of the proposed internal reorganization and subject to
applicable regulatory approvals, East Asia Minerals intends to
distribute, by way of dividend-in-kind to current eligible East Asia
shareholders, all of the shares in Sangihe Gold, Barisan Gold and East
Asia Energy held by East Asia Minerals.

Immediately following distribution of the dividend-in-kind, Sangihe
Gold and Barisan Gold intend to conduct rights offerings to raise the
balance of funds necessary to conduct their near-term exploration and
development activities.  The rights offerings will entitle eligible
shareholders to acquire additional shares in Sangihe Gold and Barisan
Gold.

Michael Hawkins, President, CEO & Director of East Asia Minerals,
commented: "With the continuing development of the large Miwah gold
deposit, the significant value of our other assets has not been
recognized. These transactions will allow our other assets, which we
believe are potentially equally attractive to Miwah, to create their
own market and raise their own funds to further exploration and add
shareholder value."

Mr. Hawkins added: "We strongly believe this is a clear case where the
sum-of-the-parts is significantly greater than the current market value
of East Asia Minerals. These transactions will create market values for
the other assets which we believe are quite significant given the
discoveries made to date and the remaining economic potential."

East Asia Minerals anticipates completing these transactions by June
2011.  The initial internal reorganization is expected to be completed
in March 2011, following which East Asia intends to file preliminary
prospectuses with the Canadian securities regulatory authorities for
Sangihe Gold, Barisan Gold and East Asia Energy which will contain
detailed information on the new companies as well as the terms of the
dividends-in-kind and rights offerings. Completion of the proposed
transactions is subject to a number of conditions including the
approval of the TSX Venture Exchange and other applicable securities
regulatory authorities.

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.

To receive or stop receiving EAS news via email, please email
info@eaminerals.com and state your preference in the subject line.

FOR FURTHER INFORMATION, visit the Company's website at
www.eaminerals.com, or contact:
Michael Hawkins, President and CEO    Vancouver  T: +1-604-684-2183 
E: hawkins@eaminerals.com
Nick Kohlmann, Corporate Communications  Toronto  T: +1-416-792-8734  
E: kohlmann@eaminerals.com

About East Asia Minerals Corporation
East Asia Minerals (EAS-TSXV) is an Asian-based, Canadian mineral
exploration company with gold and copper exploration properties in
Indonesia, and uranium exploration properties in Mongolia.  In
Indonesia the Company has a 70 to 85% interest in six advanced gold and
gold-copper properties located in Aceh Province, Sumatra, and Sangihe
Island, North Sulawesi.  The Company owns seven uranium properties,
including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium
projects, and two phosphate properties in Mongolia.  East Asia
currently has 77,089,872 shares outstanding.  Its shares are listed for
trading on the TSX Venture Exchange under the symbol "EAS".

Caution Regarding Forward Looking Statements
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.  When used in
this News Release, such statements use words such as "may", "will",
"expect", "intend", "anticipate" and other similar terms.  These
statements reflect management's current assumptions and expectations
regarding future results, performance or events as of the date hereof
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.
Forward looking statements involve significant risks and uncertainties
and should not be read as guarantees of future or performance results.
Accordingly, readers should not place undue reliance on any forward
looking statement.
Forward looking statements in this News Release include, among other
things, statements regarding the proposed internal reorganization,
dividend-in-kind and rights offerings, and the proposed terms,
conditions, structure and consequences thereof to the Company and its
security holders; the timing and receipt of approvals and consents;
future exploration activities; and the adequacy of financial resources,
among others.
Forward looking statements are based on assumptions, estimates,
analysis and opinions of management made in light of its experience and
its perception of trends, current conditions and expected developments,
as well as other factors that management believes to be relevant and
reasonable in the circumstances at the date that such statements are
made. The Company believes that the assumptions and expectations
reflected in such forward looking statements are reasonable.
Assumptions have been made regarding, among other things, the Company's
ability to reorganize its properties and interests to permit it to
carry out the proposed transactions in an effective and reasonable
manner; the Company's future exploration and development activities;
timely receipt of third party or regulatory approvals; and the
Company's ability to obtain financing as and when required and on
reasonable terms. Readers are cautioned that the foregoing list is not
exhaustive of all factors and assumptions which may have been used and
that these factors and assumptions may be incomplete or incorrect.
Forward looking statements are also subject to known and unknown risks,
uncertainties and other factors that may cause actual results to be
materially different from those expressed or implied by such forward
looking information.  Those risks include the interpretation of drill
results and the estimation of mineral resources and reserves; 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,
permitting and licensing risks; and general market and mining
exploration risks.
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.  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.

Caution Regarding U.S. Publication of Information in this News Release
The information contained herein is not for publication or distribution
into the United States. The materials set forth herein is for
informational purposes only and is not intended, and should not be
construed as, an offer to sell or a solicitation of an offer to buy any
securities in the United States. The securities described herein have
not been and will not be registered under the U.S. Securities Act of
1933, as amended, or the laws of any state, and may not be offered or
sold within the United States, except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the
Securities Act and applicable state laws.
There is no intention to register any portion of the securities to be
distributed pursuant to the proposed transactions in the United States
or to conduct a public offering of securities in the United States.