Tuesday, January 18, 2011
Eurasian's Regional Strategic Alliance
Lands in Haiti Selected for Designated Project Status
Vancouver, British Columbia, January 18, 2011 (TSX Venture: EMX) - Eurasian Minerals Inc. (the
"Company" or "EMX") is pleased to announce that
Newmont Ventures Limited ("Newmont" or "NEM"), a
wholly-owned subsidiary of Newmont Mining Corporation (NYSE:NEM), has
selected the remaining lands in Haiti subject to the EMX-NEM Strategic
Venture Agreement as Designated Projects. All of EMX's properties are now
advanced to Designated Project status, with exploration sole funded and
managed by Newmont. This is a major milestone in the advancement of the
Joint Venture's exploration programs in Haiti, and represents a
significant success in EMX's execution of the prospect generation
business strategy.
EMX-NEM Designated Projects in Haiti. EMX controls over 281,000
hectares of prospecting permits along northwest Haiti's prospective
Massif du Nord mineral belt. The EMX-NEM Joint Venture has been exploring
in northern Haiti since 2008 as part of the Regional Strategic Alliance
exploration program, and has reported encouraging results from multiple
gold, copper, copper-gold and gold-silver occurrences and prospects. The
Strategic Venture Agreement has now been concluded, and exploration lands
formerly covered by the agreement are included as two new Designated
Projects: Northeast Haiti and North Central Haiti. Further, the Grand
Bois Surrounding Properties Joint Venture, Haiti Northwest (previously Montagne), and La Miel
Designated Project agreements have been amended to include additional
lands not covered in the original agreements. In aggregate, EMX's
exploration properties are now covered as seven Designated Projects
(i.e., La Miel, La Mine, Grand Bois, Grand Bois
Surrounding Properties JV, Haiti Northwest, Northeast Haiti and North
Central Haiti).
Newmont may earn a 70% participating interest in the new Northeast Haiti
and North Central Haiti Designated Projects by solely funding the first
US$10M in venture expenditures on, or before, six years from the date the
government issues the mining convention and exploration licenses. If EMX
elects for its interest to be financed, Newmont may earn an additional 5%
interest in any specific Designated Project. Additionally, Newmont has
agreed to reimburse EMX US $933,334 in satisfaction of the second payment
made to Societe Miniere
Citadelle for its obligations under the Grand
Bois Agreement dated December 22, 2008. For more details concerning
EMX-NEM Designated Project and Regional Strategic Alliance terms, please
see Company news releases dated April 28, 2008, August 24, 2009, and
September 7, 2010.
EMX is exploring and investing in a first class mineral property and
royalty portfolio in some of the most prospective, but under-explored
mineral belts of the world.
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For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: dave@eurasianminerals.com
Website: www.eurasianminerals.com
Kim C. Casswell
Corporate Secretary
Phone: (604) 688-6390
Email: kcasswell@eurasianminerals..com
Neither
TSX Venture Exchange nor the Investment Industry Regulatory Organization
of Canada accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking
Statement
Some of the statements
in this news release contain forward-looking information that involves
inherent risk and uncertainty affecting the business of Eurasian Minerals
Inc. Actual results may differ materially from those currently anticipated
in such statements.