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East Asia Minerals Drills 0.18% Uranium Over 9.3 Metres In First
2007 Follow-Up Hole At Enger, Mongolia
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VANCOUVER, B.C. -- Wednesday, November 7, 2007 -- East Asia Minerals
Corporation (TSXV-EAS) reports it has intersected high grade uranium
mineralization in its initial follow-up drilling to promising assays
encountered during the Company's 2006 drilling of its Enger project,
located 150 kilometres southeast of Ulaanbaatar, Mongolia.
This second pass drill program was designed to continue fences drilled
in 2006 and to explore for extensions to the uranium mineralization.
Previous East Asia drilling had confirmed the existence of uranium
mineralization recorded from historical Soviet work. Results from the
initial EAS drill holes significantly improved on grades and widths of
the mineralization reported by the Soviets, and demonstrated that the
mineralization remains open to the east, west and at depth.
Hole EN-2007-11, the initial hole of the 2007 campaign, was collared 36
metres south along section and up-dip of EN-2006-12. The hole was
completed at 211.17 metres depth and encountered 0.180% Uranium over
9.3 metres, including 0.574% Uranium over 2.0 metres, 0.143% Uranium
over 1.4 metres, and 0.282% Uranium over 0.8 metres. Uranium
mineralization occurs in Lower Cretaceous lignite bearing sediments and
as sub-horizontal horizons in rhyolite associated with fracture zones.
The section remains open up-dip to the south where it was tested by
hole EN-2007-13.
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Drill Hole From (m) To (m) Interval (m) Uranium (%)
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EN-2007-11 90.4 92.9 2.5 0.038
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And 104.5 113.8 9.3 0.180
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Incl. 105.2 107.2 2.0 0.574
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Incl. 107.8 109.2 1.4 0.143
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Incl. 111.8 112.6 0.8 0.282
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Hole EN-2007-13 was drilled to 151.7 metres. Down hole radiometrics
and geological logging demonstrate the upper uranium target was
encountered between 33.37 to 60.72 metres depth as sub-horizontal
mineralized units within rhyolite, associated with a fracture zone.
Assays are pending.
Hole EN-2007-14 was collared in the southeast area of the mineralized
zone to test the remaining up-dip extension to multiple and strong
uranium intersections encountered along section EN-2006-01, 02 and 03.
These include 2.5 metres of 0.232 U3O8 in hole ENDD002 (June 26, 2006
news release) and 2.5 metres of 0.410 U3O8 in hole ENDD003 (July 6,
2006 news release). Although assays are pending, visual indications
and radiometrics indicate that the mineralization may have been faulted
off between EN-2007-14 and nearest hole EN-2006-03. The mineralization
continues down dip and remains open to the north of this four-hole
section.
The last hole of the follow-up program, EN-2007-15, was collared in the
southwest area of the mineralized zone to test the south and up-dip
extension to EN-2006-08. Results are pending.
The above reported uranium mineralization remains open, and following
receipt of all assays and detailed compilation further drilling will be
proposed. Additionally, there remain two untested radiometric
anomalies, in particular a south-southeast structural response
extending from the current drilling area, and a localized strong
radiometric response in the northeast quadrant of the property.
Michael Hawkins, President and CEO of East Asia Minerals Corporation,
commented that "although Enger is similar to the structural environment
of Western Prospector's Gurvanbulag deposit (22,679,160 lbs at 0.25%
U3O8), preliminary modeling demonstrates that Enger's rhyolite and
sedimentary setting compares well to the Streltsovka caldera hosted
uranium environment in eastern
Russia's Transbaikkalia region, near the
Chinese-Mongolia border." Streltsovka hosts the world's largest
uranium deposits associated with a volcanic setting and is one of
Russia's largest resources of uranium metal. Over 600 million pounds
of U3O8 have been produced and current resources in 20 deposits
averages 0.2%. Like Enger, the uranium occurs primarily in altered
rhyolite as veins, and also (like Enger) stratigraphically in
sediments.
Elsewhere in the East Asia Minerals' uranium portfolio, results have
been received for the last two holes of the Ulaan Nuur property where
the Company reported multiple mineralized sections up to 0.205% Uranium
in drill hole UN002 (October 23, 2007 news release). The Company is
very pleased that the initial programs at the Ingiin Nars and Ulaan
Nuur projects have validated the historic Soviet reporting of
significant in-situ-leach (ISL) amenable uranium mineralization at both
properties (refer to October 23, 2007 news release).
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Drill Hole From (m) To (m) Interval (m) Uranium (%)
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UN003 257.5 258.8 1.3 0.029
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And 263.9 264.7 0.8 0.177
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UN004 222.5 223.8 1.3 0.095
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Samples reported were assayed at ACTLABS in Ulaanbaatar, Mongolia.
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 assets 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 projects located in Aceh Province in
Sumatra and North Sulawesi. East Asia currently has 55,185,372 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
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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
Nick Kohlmann, Corporate Communications
Toronto
T: +1-416-792-8734
E: Kohlmann@EAminerals.com
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Copyright (c) 2007 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
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