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Re: News Releases - Tuesday, November 11, 2008
East Asia Minerals Intersects 14 metres of 6.31 g/t gold and
Further Expands Abong Gold System
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For Immediate release, November 11, 2008 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, November 11, 2008 -- East Asia Minerals
Corporation (TSXV-EAS) is pleased to report recent drill results,
including 14.0 metres of 6.31 g/t gold in ABD-91, from its Abong Gold
Project located in Aceh Province, Indonesia. This recent drilling
confirms the presence of another high-grade gold zone within the
extensive flat lying and near surface Abong mineralized system which
remains open in both strike directions.
The 2008 Abong drill program is completed with the drilling of over
10,000 metres in 128 holes. This work will provide sufficient data to
calculate a preliminary resource estimate during the first half of
2009. The mineralization is still open along strike and potential is
high for the discovery of significant new gold zones within extensions
of the Abong structural trend.
"There is open mineralization and numerous additional drill targets
remaining at Abong and we believe the mineralized system will grow
significantly", stated Michael Hawkins, President and CEO of EAS. "We
feel it prudent however during the current market turmoil to
temporarily halt the Abong drilling pending compilation of the
preliminary resource. EAS remains well funded and has sufficient funds
in its treasury to continue drilling over the next couple of years at
Abong and its other highly prospective gold-copper projects, with the
aim of significantly increasing its mineral inventories. EAS is
confident in the strength of its outstanding portfolio of properties in
Indonesia, as well as in its ability to ride out the current market
turmoil."
Abong Drill Update
The Abong system, as defined to date, is contained within a major
northwest trending corridor up to 800 metres wide and currently
traceable for over 2.0 kilometres. Gold mineralization drilled to date
at Abong occurs within a flat lying, near surface jasperoid sheet. This
expansive blanket contains a series of elongated, northeast oriented
higher grade (4 to 6 g/t) gold zones that are surrounded by extensive
areas of 0.5 to 1.5 g/t gold mineralization.
Recent infill and step-out drilling in the centrally located Bulan Gold
Zone confirmed the presence of another high-grade, northeast trending
gold zone with hole ABD-91intercepting 14.0 metres of 6.31 g/t gold in
the vicinity of the sink hole area (view map at www.EAminerals.com).
Scout drilling at the newly discovered Kapar gold target, located 1.3
kilometres east of Bulan within the same structural and geological
setting, has returned anomalous gold values. The three holes competed
were drilled parallel and peripheral to the gold mineralized structure
where previous channel sampling returned 16 metres at 1.67 g/t gold
from a creek exposure. Further drilling will more fully test this newly
discovered area.
Bintang is another gold zone within the Abong structural corridor,
located 400 metres north of the Main Bulan Gold Zone. Previous EAS
drilling including 12.0 metres of 2.24 g/t gold, 11.0 metres of 1.77
g/t gold, 12.0 metres of 1.56 g/t gold and 12.0 metres of 1.72 g/t gold
(holes ABD-07 to 10). Mineralization remains open in all directions
and will be further tested in future drill programs.
Hole Number From (m) To (m) Interval (m) Gold (g/t) Silver (g/t)
Comment
ABD-80 29.00 36.00 7.00 0.30 1.23 Kapar gold target
And 42.00 46.00 4.00 0.41 1.33 Kapar gold target
ABD-81 56.00 65.00 9.00 0.35 1.07 Kapar gold target
ABD-86 63.00 67.00 4.00 1.71 13.88 Bulan South Zone
ABD-87 68.00 70.00 2.00 1.72 19.00 Bulan South Zone
ABD-89 68.00 73.00 5.00 0.50 3.26 Bulan Main Zone
ABD-90 10.00 22.00 12.00 0.91 5.13 Bulan Main Zone
ABD-91 4.00 18.00 14.00 6.31 7.78 Bulan Main Zone
Including 7.00 14.00 7.00 11.60 11.54 Bulan Main Zone
ABD-92 62.00 65.00 3.00 0.50 5.90 Bulan North Zone
And 70.00 73.00 3.00 1.60 3.43 Bulan North Zone
ABD-93 36.00 57.00 21.00 0.75 18.48 Bulan North Zone
ABD-94 21.00 28.00 7.00 0.81 4.46 Bulan North Zone
ABD-95 0.00 23.00 23.00 1.05 3.98 Bulan Main Zone
Including 0.00 7.00 7.00 2.03 13.43 Bulan Main Zone
Samples reported were assayed at Intertek 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.
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 Tue Nov 11, 2008 at 5:48:38 AM Pacific Time
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