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Re: News Releases - Monday, February 04, 2008
East Asia Continues to Expand Binebase With 1.52 g/t Gold, 80.03
g/t Silver Over 45 Metres
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For Immediate release, February 4, 2008 TSXV: EAS
VANCOUVER, B.C. -- Monday, February 4, 2008 -- East Asia Minerals
Corporation (TSXV-EAS) is pleased to report that the latest hole of its
phase one drill program on the Binebase Prospect at the Sangihe
Property, Indonesia, encountered significant epithermal gold and silver
mineralization from surface. Drill hole BID-15 cut 45.0 metres of 1.52
g/t gold and 80.03 g/t silver from zero metres depth, with the
intercept under-reporting the true composite grade of the interval due
to 3.90 metres of lost core being assigned zero value.
This shallow gold zone remains open along strike in both directions.
Drilling is continuing to test the mineralization towards the Bawone
Prospect, which is probably contiguous with the Binebase Prospect and
located 1.2 kilometres along strike to the southeast. All holes drilled
at Binebase to date have encountered significant near surface
intercepts of epithermal gold and silver mineralization.
Binebase drill assays to date (with gold equivalent)*
Drill Hole From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) Gold
Equiv. (g/t)*
BID-11** 0.00 45.00 45.00 1.28 50.51 2.18
BID-12 4.00 46.35 42.35 1.34 107.54 3.26
Including 8.00 33.00 25.00 2.03 159.96 4.89
BID-13 8.00 43.95 35.95 4.03 188.28 7.39
Including 9.00 31.00 22.00 5.74 121.64 7.91
BID-14 0.00 96.20 96.20 1.30 48.25 2.16
Including 3.00 45.00 42.00 2.67 86.38 4.21
BID-15** 0.00 45.00 45.00 1.52 80.03 2.95
*Note -- The gold equivalent uses a silver:gold ratio of 56:1 based on
current precious metal market prices, and assuming total recoveries of
both metals.
**Note - BID-11 and BID-15 under report the composite grades due to
3.95 and 3.90 metres respectively of lost core being assigned a zero
value.
BID-15, a scissor hole, is located 35 metres to the northwest along
section of BID-11 and was drilled to a depth of 113.10 metres with a
southeast azimuth (refer to the Company's website at www.EAminerals.com
for a plan view of drilling). This hole was designed to test
significant trench results which included 2.00 g/t gold over 62.0
metres, 1.98 g/t gold over 45.5 metres, and 2.28 g/t gold over 28.5
metres (December 3, 2007 news release), and follow-up on recently
completed BID-11 which intersected 45.0 metres of 1.28 g/t gold and
50.51 g/t silver from surface (January 8, 2008 news release). BID-11
also under reported the composite grade due to 3.95 metres of no core
recovery being assigned a zero value for the composite calculation.
BID-16 is drill testing towards the Bawone Prospect, and was collared
110 metres southeast of BID 11, along the BID-11/15 section where
previous East Asia trenching results included 38.0 metres of 1.80 g/t
gold. The hole has a northwest inclination to test the southeast
extension of the BID-11/15 mineralization. Assays are pending.
Samples reported were assayed at PT SGS Indoassay (SGS Group) in
Balikpapan. Lionel Martin, P.Geo, the designated QP within the meaning
of 43-101 has reviewed and approves the content of this release.
About East Asia Minerals Corporation
East Asia Minerals is an Asian-based, Canadian mineral exploration
company with uranium, gold and copper exploration properties in
Mongolia and Indonesia. The Company owns the Ingiin-Nars, Ulaan Nuur
and Enger uranium properties and a 75% interest in the Khok Adar copper
oxide discovery in Mongolia. In Indonesia, it has a 70 to 85% interest
in five advanced gold and gold-copper properties located in Aceh
Province in Sumatra and North Sulawesi. East Asia currently has
55,640,372 shares outstanding. Its shares are listed for trading on
the TSX Venture Exchange under the symbol "EAS".
Forward Looking Statements - This News Release contains forward looking
information within the meaning of the Ontario Securities Act and the
Alberta Securities Act, which involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ from
those reflected in the forward-looking statements, including, without
limitation, risks and uncertainties relating to 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, metal recoveries, accidents,
equipment breakdowns, title matters and surface access, labour disputes
or other unanticipated difficulties with or interruptions in
production, the potential for delays in exploration or development
activities or the completion of new or updated feasibility studies, the
inherent uncertainty of production and cost estimates and the potential
for unexpected costs and expenses, commodity price fluctuations
(including uranium, fuel, steel and construction items), currency
fluctuations, failure to obtain adequate financing on a timely basis
and other risks and uncertainties. Should one or more of these risks
and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in
forward-looking statements. Accordingly, readers are advised not to
place undue reliance on forward-looking statements. The words
anticipate, believe, estimate and expect and similar expressions, as
they relate to us or our management, are intended to identify forward
looking statements relating to the business and affairs of the Company.
Except as required under applicable securities legislation, we
undertake no obligation to publicly update or revise forward-looking
statements, whether as a result of new information, future events or
otherwise.
The TSX Venture Exchange has not reviewed and does not accept
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: +1-778-997-2183
E: Hawkins@EAminerals.com
or
Nick Kohlmann, Corporate Communications
Toronto
T: +1-416-792-8734
E: Kohlmann@EAminerals.com
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Copyright (c) 2008 EAST ASIA MINERALS CORPORATION (EAM) All rights
reserved. For more information visit our website at
http://www.eaminerals.com/ or send mailto:info@eaminerals.com
Message sent on Mon Feb 4, 2008 at 5:41:07 AM Pacific Time
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