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News Release - Friday, July 27, 2007
East Asia Minerals Signs Agreement With CFMM (A Subsidiary Of
Areva NC) To Sell Mongolia Ooshiin Govi Uranium Property For
CAD$83Million
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For Immediate release, July 27, 2007 TSXV: EAS

VANCOUVER, B.C. -- Friday, July 27, 2007 -- East Asia Minerals
Corporation (TSXV-EAS) is pleased to announce it has signed an
agreement to sell the Ooshiin Govi uranium property to Compagnie
Fran�aise de Mines et Metaux ("CFMM", a subsidiary of Areva NC) for a
cash payment of CAD$83 million. This will be facilitated through the
sale of its wholly owned Mongolia subsidiary, EAM Energy LLC (EAME).
The transaction, which is subject to shareholder approval, will also
include the Bayan Uul, Elgenii, Ikh Khet and Airag-1 uranium tenements
(together with Ooshiin Govi forming the "Assets"). Details of the
properties can be found on the East Asia web site at www.EAminerals.com
and in previous news releases. In connection with the offer, certain
shareholders including directors and officers of East Asia have entered
into irrevocable lockup agreements with CFMM pursuant to which they
have agreed to vote all of their East Asia shares in favour of the
offer, representing approximately 43.8 per cent of the issued and
outstanding East Asia shares, subject to certain exceptions.

The proposed transaction with CFMM has the full support of the
Company's board of directors and management team, who recommend that
the East Asia Mineral's shareholders vote in favor of the assets sale.
Should shareholder approval be forthcoming, it is the Company's
intention to dividend out at least 85% of the after-tax proceeds of
sale to registered shareholders of East Asia. The final calculated
dividend will be subject to the extent to which presently outstanding
dilutives are exercised, net corporate tax considerations and the Board
of Directors' determination of the Company's future capital
requirements. A shareholders meeting to vote on this transaction is
scheduled for September 5, 2007.

"The Company views CFMM's proposed purchase of the Ooshiin Govi
tenements, for more than the current market capitalization of East Asia
Minerals Corporation, as absolute validation of East Asia's ability to
capture opportunities and maximize shareholder value" stated Michael
Hawkins, East Asia Minerals' President. "The preliminary nature of
Ooshiin Govi, coupled with results from recent drilling, more
appropriately suits the time horizon, risk tolerance and resources of a
senior producer, such as Areva. We believe that the proposed
transaction provides an optimal return of value to the shareholders,
and the opportunity to continue receiving value through a strong
acquisition and exploration strategy. We also believe that a purchase
of this magnitude, by one of the world's leading uranium companies,
supports the Company's positive assessment of its remaining uranium
portfolio, which includes the Ingiin-Nars, Ulaan Nuur, and Enger
properties. The first two of these properties possess historical
resources, and Enger returned very strong drill results from our
exploration program last year. Hence we consider them to be
exceptionally strong assets with which to continue the Company's
uranium strategy."

Haywood Securities Inc. is acting as financial adviser to East Asia and
Gowling Lafleur Henderson LLP is its legal adviser. The financial
adviser to CFMM is RBC Capital Markets Inc. and legal advisor is Blake,
Cassels & Graydon LLP.

Retained Mongolian Uranium Assets

The Mongolia uranium assets retained by East Asia will be drilled later
this summer, commencing at the Company's 100% owned Ingiin-Nars
property (July 3, 2007 news release). The Ingiin-Nars Deposit lies
south of and continues northeast into the East Asia property, and
contains a Soviet-era, P1 category drilled resource of approximately
1,000 tonnes (2.2 million pounds) of contained uranium. The grade
averages 0.042% U, at a cut off grade of 0.02% U, representing a
deposit of approximately 2.4 million tonnes. The average grade of
non-category drill intercepts is 0.052% U. The Ingiin-Nars Deposit
continues northeast into the East Asia property where it remains open
along strike. East Asia drilling will be designed to quantify the
portion of the Deposit that lies within the Company's property, and to
determine the full extent of the strike distance. Additionally, the
mineralization remains open to the immediate northeast of the drilled
resources where Soviet-era data suggests the presence of another
mineralized body that may be as large, or larger, than the drilled
Ingiin-Nars Deposit.

East Asia owns 100% of the Ulaan Nuur property (May 3, 2007 news
release), a partially defined, potentially significant deposit of
stratiform sandstone-hosted uranium mineralization. Limited drilling
during the Soviet era outlined mineralization ranging in thickness from
0.1 to 3.5 metres and grading between 0.03% and 0.184% U. The
mineralization was not fully defined nor closed off. The Soviets
calculated a projected resource (P2 category) of 10,000 tonnes (22
million pounds) of contained uranium for the Ulaan Nuur deposit. This
data indicates an average grade of 0.049% U, representing a deposit of
approximately 20 million tonnes. The historic data also provides
evidence that the Project contains a potential ISL (in situ leach)
environment.

The Company's 100% owned Enger property (June 26 and July 6, 2006 news
releases) includes a number of uranium mineralized zones that were
identified from Soviet information and range in thickness from 1.7 to 6
metres, and grade from 0.056% to 0.19% U3O8 (high of 0.65m of 0.549%
U3O8). Results from the 2006 East Asia drill program significantly
improved on grades and widths of the mineralization reported by the
Soviets. Intercepts included 2.5 metres of 0.410% U3O8 metres in hole
ENDD003, 2.5 metres of 0.232% U3O8 in hole ENDD002, 1.0 metre of 0.086
U3O8 in hole ENDD004, and 13.5 metres of 0.108% U3O8 in hole ENDD005.
The mineralization was not closed off. As part of the proposed
transaction Areva has been granted the metal marketing rights of both
the Enger and Ulaan Nuur projects.

Indonesian Exploration Update

In Indonesia, the company continues to move ahead with the exploration
of its highly prospective copper-gold portfolio. Drilling will commence
later this summer at the Sangihe property where historic work resulted
in several significant drill intercepts including 91.3 metres starting
at 29 metres with 2.45g/t gold, 0.42% copper and 12.0g/t silver, and
trench results of up to 34.8g/t gold over 14 metres (July 17, 2007 news
release).

Lionel Martin, P.Geo, the designated QP within the meaning of 43-101,
has reviewed and approves the content of this release. EAS 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 Ingiin-Nars and Ulaan Nuur
Properties, 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 seven uranium properties, highlighted by the Ooshiin
Govi tenements, 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 43,661,912 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.

To receive or stop receiving EAS news via email, please email
Info@EAminerals.com and state your preference in the subject line.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.

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FOR FURTHER INFORMATION, visit the Company's website at
www.EAminerals.com, or contact:

Michael Hawkins, President
Vancouver
T: +1-778-997-2183
E: Hawkins@EAminerals.com

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
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