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Re: News Releases - Wednesday, July 02, 2008
East Asia Minerals Extends Binebase Oxide Gold Mineralization 300
Metres Southeast Towards Bawone
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For Immediate release, July 2, 2008 TSXV: EAS
VANCOUVER, B.C. -- Wednesday, July 2, 2008 -- East Asia Minerals
Corporation (TSXV-EAS) reports that recent infill and extension
drilling results, including 39.0 metres of 1.06 g/t gold, at its
Binebase Project located on Sangihe Island, Sulawesi, Indonesia has
extended the near-surface oxide gold zone 300 metres southeast of
previous drilling. The Binebase Gold Zone remains open to the south
and southeast. Binebase drilling on the central southern flank of the
gold zone has additionally encountered previously unknown,
gold-bearing, primary semi-massive sulphide mineralization, including
26.2 metres of 1.20 g/t gold, below the oxide mineralization.
Binebase Project
Previous EAS
Diamond core drilling at the Binebase gold Project has
outlined a north-west trending, near-surface gold oxide zone measuring
700 metres long by 300 metres wide (map at www.EAminerals.com). Recent
drilling has extended this gold zone 300 metres to the southeast.
Holes BID-24 to BID-26 encountered the near surface oxide blanket of
limonite-silica-clay mineralization, averaging 40 metres thick with a
very even gold grade distribution (results below). The gold-bearing
oxide zone remains open to the south and southeast.
Hole Number From (m) To (m) Interval (m) Gold (g/t) Silver (g/t) Copper
(%) Mineralization Type
BID-24 0.00 39.00 39.00 1.06 <1.00 0.02 Oxide
Including 22.00 30.00 8.00 3.25 <1.00 0.04 Oxide
BID-25 0.00 52.00 52.00 0.39 <1.00 0.02 Oxide
And 52.00 136.00 84.00 0.43 1.07 0.09 Sulphide
BID-26 0.00 41.60 41.60 1.07 2.32 0.03 Oxide
Including 9.00 18.00 9.00 2.16 0.83 0.06 Oxide
BID-32 12.30 38.50 26.20 1.20 10.48 0.61 Sulphide
Including 28.00 37.45 9.45 2.22 13.93 0.65 Sulphide
Note: Results for drill holes BIN-27 to BIN-31 are pending.
Recent drilling has encountered primary gold-silver mineralization in
the central southern part of the Binebase Gold Zone. To date, three
Diamond core holes have outlined a +100 metre long, north-south
trending lens-shaped structure of semi-massive sulphide (pyrite,
enargite and covellite), quartz and barite. This primary gold
mineralization thickens and extends to the south from the known
Binebase gold oxide blanket towards the Bawone gold Zone located 1.2
kilometres to the south. The silica-sulphide breccia texture and
mineralogy is identical to primary high sulphidation epithermal
gold-silver mineralization at Bawone and reinforces the possibility of
a significant gold-bearing feeder zone at depth.
Further drilling is planned to test for southeast extensions of both
this sulphide body and the near-surface oxide blanket.
Samples reported were assayed at PT SGS Indoassay (SGS Group) in
Balikpapan. 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.
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 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 Wed Jul 2, 2008 at 6:56:25 AM Pacific Time
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