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Re: News Releases - Wednesday, October 22, 2008
East Asia Minerals Expands Miwah Gold Zone and Discovers
Satellite Zone
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For Immediate release, October 22, 2008 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, October 22, 2008 -- East Asia Minerals
Corporation (TSXV-EAS) continues to encounter significant gold
intercepts from trench sampling at its Miwah Gold Project located in
Aceh Province, North Sumatra, Indonesia. These results, including 6
metres of 6.67 g/t gold, 12 metres of 2.14 g/t gold, 12 metres of 3.16
g/t gold and 34 metres of 1.81 g/t gold, are from the eastern half of
the Miwah Bluff area and from the Block M area to the east, which have
a contiguous strike length of over 1000 metres. A new zone of
mineralization has also been discovered 2.2 kilometres northeast of the
Miwah Gold Zone.
Miwah Trenching Update
Additional encouraging assay results have been received from channel
sampling in trenches at the Miwah Gold Zone (view map at
www.EAminerals.com). Rock sawn channel sampling focused on the eastern
side of Miwah Bluff returned consistently strong gold mineralization,
hosted specifically in vuggy silica altered breccias and volcanic rock.
Selected un-cut composite trench intervals include:
.. 6 metres of 6.67 g/t gold (Trench 78)
.. 8 metres of 1.14 g/t gold (Trench 81)
.. 12 metres of 2.14 g/t gold (Trench 86)
.. 18 metres of 0.98 g/t gold (Trench 87)
The first batch of assays for chip channel sampling at Block M, located
300 metres east of Miwah Bluff, have also returned encouraging gold
intervals, specifically related to vuggy to massive silica ledges.
These features were sampled along the approximate base of the
sub-horizontal silica cap. Large sections of the impressive, plus 150
metres high by 500 metres long, near vertical silica wall above the
surveyed area remain un-sampled. Selected un-cut composite trench
intervals include:
.. 12 metres of 3.16 g/t gold (Trench MB7);
.. 34 metres of 1.81 g/t gold (Trench MB17);
.. 14 metres of 1.16 g/t gold (Trench MB19);
.. 6 metres of 1.10 g/t gold (Trench MB21);
.. 40 metres of 1.15 g/t gold (Trench MB42);
Discovery of New Satellite Zone
Recent reconnaissance prospecting 2.2 kilometres northeast of the Miwah
Gold Zone has discovered two new areas of high sulphidation alteration
and mineralization within an area measuring 1000 metres by 1000 metres,
which is about the same size as the Miwah Gold Zone. Initial
confirmation sampling and assaying is currently underway.
Project Background
Extensive surface channel sampling by EAS and a previous explorer shows
that Miwah Gold Zone mineralization occurs within a well defined zone
of high sulphidation alteration measuring 1000 metres by 1000 metres.
Better gold mineralization is closely related to a well-defined body of
residual vuggy silica-sulphide forming an impressive resistant,
east-northeast trending cliff of massive (vuggy) silica traced for over
1000 metres along strike by over 300 metres wide and up to 200 metres
high.
Miwah demonstrates many features of the shallow part of a high-level
high sulphidation ("HS") epithermal gold system, including intense acid
leaching, strong structural and lithological permeability controls to
fracture fed mineralizing fluids, presence of structurally-controlled
hydrothermal and phreatic breccias, disseminated mineralization of
gold-silver much greater than copper, and the elemental association of
As, Sb, Bi, Ba, S and Te.
The Miwah Property is in a very similar volcanic setting to the Martabe
gold-silver deposit, also located in North Sumatra (Purnama and Baskara
resources: 127.8 million tonnes at 1.4 g/t gold (5.5 million ounces
gold) and 15 g/t silver (60 million ounces silver), and the alteration
system is of a comparable size. The Miwah project also exhibits a
likeness to the size, style and geometry of the alteration system
developed at another important HS gold deposit, the Pierina gold
deposit in Peru (67.7 Mt grading 2.98 g/t gold and 22 g/t silver,
giving a total 6.49 million ounces gold and 47.9 million ounces
silver).
Miwah was partially defined with approximately 3000 metres of drilling
in eleven holes by a previous explorer in 1997. All holes drilled
during this program intersected significant alteration and
mineralization with intercepts including 71 metres of 1.4 g/t gold and
58 metres of 1.1 g/t gold. The previous explorer suggested potential
for 100 Mt at 1.1 to 1.2 g/t gold, however a review of the historical
data indicates that early drilling was clearly parallel to higher grade
(greater than 5 g/t gold) structures at surface, and hence
significantly higher overall grades are anticipated from better
oriented drill holes.
Integration of recent encouraging trench results and historical work,
combined with ongoing detailed surface mapping and sampling will form
the basis for selecting optimum drill targets which are anticipated to
be drill tested in Q1 2009.
Samples reported were assayed at Intertech assay laboratories in
Jakarta. David Royle, B.Sc. (Hons), FAusIMM, CP, the designated QP
within the meaning of 43-101, has reviewed and approves the content of
this release. East Asia has not verified the classification of the
resource references and is not treating them as NI 43-101 defined
resources verified by a QP. Although the references of resources are
relevant to recognizing the potential of the Miwah project, they should
not be relied upon.
About East Asia Minerals Corporation
East Asia Minerals 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. Two of these, the Sangihe (Binebase-Bawone) and Barisan 1
(Abong) gold projects are being drilled to define NI43-101 compliant
resources. The Company owns ten uranium properties, including the
advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and a 75%
interest in the Khok Adar copper oxide discovery in Mongolia. East
Asia currently has 55,645,372 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 British Columbia Securities Act,
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: +1-604-684-2183
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 Wed Oct 22, 2008 at 6:21:03 AM Pacific Time
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