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News Releases - Tuesday, October 30, 2007
East Asia Minerals Reports High Grade Gold, Including Channel
Samples of 17 Metres at 5.8 g/t Gold From the Abong Prospect,
Indonesia
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For Immediate release, October 30, 2007 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, October 30, 2007 -- East Asia Minerals
Corporation (TSXV-EAS) is pleased to announce results of ongoing
channel sampling from its Abong prospect on the Barisan 1 Property,
Aceh Province, Indonesia. These results indicate several potentially
significant, near surface gold mineralized zones. Better results from
the program include 17 metres at 5.8 g/t gold, 17 metres at 3.13 g/t
gold, 79 metres at 1.44 g/t gold, and 4 metres at 3.97 g/t gold.
Sampling to date has been largely confined to the northwestern part of
a 3 km x 1.5 km northwest trending corridor at the Barisan 1 Property,
within which numerous coherent anomalies have been defined by previous
explorers. The Abong prospect was drilled by two major mining companies
in the mid 1990's, at which time a total of 28 drill holes ranging from
20 to 120 metres deep were completed. A speculative non-43-101
compliant resource of between 40 and 60 million tonnes grading 1.0 to
1.5 g/t gold, for a total of approximately 1.5 million ounces of gold,
was estimated by these companies on the basis of their drilling,
surface sampling, mapping and geophysical modeling. Previous
exploration was terminated on non-technical grounds, leaving much of
the defined mineralization open in several directions.
Michael Hawkins, President and CEO of East Asia Minerals Corporation,
commented that the Company was very encouraged by the grade and width
of the mineralization encountered by its sampling of the Abong
prospect. "Whilst we understand that the potential quantity and grade
referred to by previous explorers is conceptual in nature and there has
been insufficient exploration to define a mineral resource, our results
support the veracity of the earlier work and the potential for
additional mineralization. We see that further work is necessary to
define the full potential of the property and intend to commence drill
testing of this exciting project in November. Our new results from
Abong and other Aceh properties are validation of our decision to be
early entrants into Aceh Province, and to be able to "cherry pick"
some
superb advanced exploration projects. With the region now progressing
and attention to its potential increasing, we are extremely well placed
for success."
The geology of the northwestern and central part of the Abong prospect
is dominated by sedimentary rocks that formed in a back-arc basin
environment. The back-arc basin rocks comprise reefal limestone with
flow breccias and clastic / calcareous sediments grading into silty
limestone, calcareous siltsone and mudstone. To the southeast the
lithology changes to intermediate volcanics and exposed intrusives of
the eroded volcanic arc. A northwest trending, district scale, deep
crustal feature tapped by north-northeast dilational structures,
transects the back-arc basin lithologies and appears to localize the
numerous prospects along a 3 km x 1.5 km northwest corridor.
Alteration and mineralization in the district is consistent with the
interpretation of the project as a sediment-hosted epithermal gold
system. Mineralization/alteration is grouped into 3 main zones;
northwest, central and southeast. The northwest zone is dominated by
strongly brecciated and silicified calcareous siltstone along
structural zones with peripheral decalcification and later stage
cross-cutting quartz micro-veinlets. The quartz veinlets and breccia
matrix contain pyrite, arsenopyrite and rare stibnite. The gold grades
within this zone are the most consistent, with historic channel samples
assaying up to 16 metres at 3.84 g/t gold and spot values to 15.9 g/t
gold. These values are consistent with the new channel samples reported
by East Asia Minerals. In the central zone, a recrystallized limestone
core is flanked by massive silica sediment replacement rock (jasperoid)
on its western periphery. This jasperoid is cross cut by later quartz
-- minor sulphide veinlets. The silica alteration front terminates
abruptly at the limestone contact with a thin rind of calcite
recrystallization and minor quartz stringers. The gold grades in this
zone, as defined by historic sampling and wide spaced pattern drilling
are consistently above 1 g/t gold from surface, but historic samples
grading up to 129 g/t gold are noted. Recent field work conducted by
East Asia Minerals has additionally identified northeast trending zones
within the jasperoid with free gold common in hand specimen. The
southeast zone is poorly understood, but is thought to be porphyritic
andesite and diorite with narrow silica, and clay--sulphide alteration
localized along structures. Grab samples of float and sub-crop material
assayed up to 9 g/t gold.
Elsewhere in Aceh Province, East Asia Minerals reports that it
continues to make good progress on its extensive portfolio of
copper-gold projects. At its Tangse porphyry copper project, grab
outcrop and channel samples of fine grained diorite from the supergene
zone at East Tangse, where previous explorers had indicated potential
for a supergene enriched zone of 30Mt grading between 0.6 to 0.8%
copper (reported May 1, 2007) returned 1.8% to 3.25% copper in 8 grab
samples, and channel samples of 3 metres at 0.92% copper and 2 metres
at 0.83% copper. This sampling verifies the tenor of the supergene
copper grades and extends the zone of supergene enrichment another 150
metres north of its previously defined limits.
At the Miwah high sulphidation epithermal project exploration
activities have verified the surface results reported from previous
explorers, with samples returning up to 15.3 g/t gold. Observed
alteration styles include vughy silica -- alunite +/- clay with a
peripheral silica -- sericite envelope with reported mineralization
consisting of predominantly pyrite with enargite +/- chalcocite +/-
covellite.
Samples reported were assayed at Intertek Laboratories in Jakarta.
East Asia Minerals conducts a rigorous and continuous QA/QC program.
Lionel Martin, P.Geo, 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 historic resource references and
is not treating them as NI 43-101 defined resources verified by a QP.
Although the historical references of resource potential are relevant
to recognizing the potential of the Aceh projects, they should not be
relied upon.
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 54,055,172 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) 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
Message sent on Tue Oct 30, 2007 at 6:07:15 AM Pacific Time
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