Eligible East Asia Minerals shareholders on the Record Date will be
entitled to receive the proposed dividend-in-kind of all the shares in
Barisan Gold Corporation held by East Asia Minerals. The common shares of
East Asia Minerals will start to trade ex-dividend on July 19, 2011 (i.e.
shares of East Asia Minerals purchased on the TSX Venture Exchange on or
after July 19, 2011 will not be eligible to receive the shares in Barisan
Gold Corporation as dividend-in-kind) (the "Ex-Dividend Date").
Immediately following the Record Date, East Asia Minerals will cause to be
delivered to each East Asia Minerals shareholder who according to the
record of East Asia Minerals is not resident in Canada or otherwise
subject to the laws of an Ineligible Jurisdiction, a declaration of
eligibility which will seek information to determine if any such
shareholder is eligible to receive the dividend-in-kind or participate in
the Rights Offering. Please refer to the preliminary prospectuses for
further details.
As described in the preliminary prospectuses, all East Asia Minerals
shareholders who are resident in Canada and in such other jurisdictions in
which East Asia Minerals and Barisan Gold have determined the distribution
of the dividend-in-kind and the rights can be lawfully made (together the
"Eligible Jurisdictions") and all Qualified Institutional Investors
("QIBs") and Accredited Institutional Investors ("AIIs") (as defined in
Rule 144A and Rule 501(a)(1), (2), (3) or (7) respectively under the
United States Securities Act of 1933) in the United States of America are
"eligible" to receive the dividend-in-kind and the rights. Other
jurisdictions, including but not limited to United States of America
(other than QIBs and AIIs), have been determined by East Asia Minerals and
Barisan Gold to be ineligible jurisdictions (together the "Ineligible
Jurisdictions") and the dividend-in-kind and rights will not be issued in
the names of shareholders of East Asia Minerals resident in these
ineligible jurisdictions but rather will be delivered to Computershare
Investment Services Inc. as custodian and agent for these shareholders.
As described in the preliminary prospectuses, East Asia Minerals will
impose appropriate withholding on the dividend-in-kind to which
shareholders not resident in Canada are entitled. For details, please
refer to the preliminary prospectuses filed.
The distribution to the shareholders of East Asia Minerals of the
shares of Barisan Gold Corporation as dividend-in-kind is expected to
occur promptly after the final determination of the eligible shareholders
and the filing of the final prospectus of Barisan Gold Corporation.
East Asia Minerals continues to work diligently with authorities in
Indonesia and Mongolia to complete the transfer of assets from East Asia
Minerals to Sangihe Gold and East Asia Energy.
This news release does not constitute an
offer to sell or the solicitation of an offer to buy securities in any
jurisdiction. The shares and the rights to be distributed have not been
approved or disapproved by any Canadian or U.S. regulatory authority nor
has any such authority passed upon the accuracy or adequacy of the
preliminary prospectus.
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About East Asia Minerals Corporation
East Asia
Minerals (News
- Market
indicators) 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 77,962,372 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.