======================================================================
Re: News Releases - Tuesday, July 03, 2007
East Asia Minerals Acquires Drilled Uranium Resource at
Ingiin-Nars Uranium Deposit
======================================================================
For Immediate release, July 3, 2007 TSXV: EAS
VANCOUVER, B.C. -- Tuesday, July 3, 2007 -- East Asia Minerals
Corporation (TSXV-EAS) is pleased to announce that it has acquired 100%
of a tenement containing a portion of the Ingiin-Nars Uranium Deposit
in Mongolia. Based on Soviet-era drilling and trenching, the
Ingiin-Nars Deposit continues northeast into the East Asia property
where it remains open along strike. More drilling will be required to
quantify the portion contained by the East Asia property and to
determine the full extent of the strike distance. The uranium
mineralization is stratiform sandstone hosted and reported to be
amenable to in-situ leach (ISL) recovery. A location map of East
Asia's Mongolian uranium projects and property map for the Ingiin-Nars
Project are posted at www.EAminerals.com.
The known Nars uranium mineralization, including both the Ingiin and
the Mys deposits, is traceable at surface for 11 kilometres. The
discovery was made approximately 500 kilometres SSE of Ulaanbaatar
during Soviet exploration in 1978. The main Ingiin Deposit contains a
Soviet-era, P1 category drilled resource of approximately 1,000 tonnes
(2.2 million pounds) of contained uranium (U.V. Toitskii and V.A.
Kaldishkin, 1978-1990, Geological Report No. 2428, "Report on
prospecting-estimation work in Dornogobi Aimag"). The grade averages
0.042% U, calculated on an average thickness of 3 metres and 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.
Soviet-era drilling on East Asia's portion of the Ingiin Deposit
includes four sections with several intersections of 0.023 to 0.068% U
up to 7 metres thick. Mineralization at Ingiin is sub-horizontally
dipping, strata-discordant stack or roll-front type, and occurs at a
depth of 180 to 480 metres over a 100 to 400 metre wide zone, extending
for 4.5 kilometres. The mineralization is hosted by a 30 to 110 metre
thick sequence of poorly consolidated sand and gravel beds,
inter-bedded with impermeable horizons of clay and argillaceous silt;
amenable to an ISL setting. This mineralization remains open to the
immediate northeast of the drilled resources at the main Ingiin
Deposit, where Soviet-era data suggests the presence of another
mineralized body that may be as large, or larger, than the drilled
portion of Ingiin-Nars.
Commenting on the Ingiin-Nars acquisition, Michael Hawkins, President
of East Asia Minerals, stated "We are extremely pleased to have brought
another high quality uranium property into our Mongolian portfolio.
Based on our current understanding, both the Ingiin-Nars and Ulaan Nuur
are as valuable, or more, than our exciting Ooshiin Govi play. That we
continue, in a very competitive market, to acquire such quality
projects is demonstration of the EAS management team's capacity to
quickly build shareholder value."
East Asia acquired the highly sought after Ooshiin Govi tenements,
which are adjacent to ground being aggressively explored by Areva, a
world leading uranium company, in late 2006. During the winter of 2007
drilling by East Asia proved a high potential ISL uranium target at
Ooshiin Govi. In May, 2007 the Company acquired the Ulaan Nuur project
with a Soviet P2 resource of 22 million pounds of contained uranium
(May 3, 2007 news release). The additional acquisition of P1 Soviet
category uranium metal at Ingiin-Nars further exhibits the Company's
unique ability to acquire, at minimal cost, extremely valuable
properties by using its competitive understanding of prospective
mineral environments and strong business networks.
East Asia ground work, including radiometric surveying, mapping and
identification of the Soviet-era drill holes, is in progress at
Ingiin-Nars. A similar program will be carried out at Ulaan Nuur. A
drill contract has been signed and drilling is expected to commence
during July, starting with Ingiin-Nars, followed by Ulaan Nuur, Enger
and Ooshiin Govi. Phase One drilling at Ingiin-Nars and Ulaan Nuur is
designed to validate the uranium deposits outlined by the historic
Soviet work. Drilling at Enger will follow-up strong uranium grades
that EAS encountered during 2006 drilling, including 2.5 metres of
0.232% U3O8 in hole ENDD002, 2.5 metres of 0.410% U3O8 metres in
ENDD003, and 13.5 metres of 0.108% U3O8 in hole ENDD005. The
mineralization was not closed off (June 6 and July 6, 2006 news
releases).
For the Ooshiin Govi project, data compilation and preliminary
geological modelling have been completed. The Company is finalizing a
work plan and budget to follow on the positive results of the Phase One
drill program competed during February of this year, immediately
adjacent to an area of close-spaced systematic drilling by Areva. The
East Asia drill results indicate a large body of unconsolidated sand
hosted uranium mineralization with clay and lignitic intervals. The
drill program successfully validated an extensive and laterally
continuous redox front, and anomalous radioactivity at this front and
beneath the water table. Favourable porous host rock sandwiched between
impermeable strata, and an extensive size potential suggest the
mineralization may be amenable to low cost ISL mining methods (February
14 and March 12, 2007 news releases).
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 these 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 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 44,771,605 shares outstanding. Its shares are listed for
trading on the TSX Venture Exchange under the symbol "EAS".
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.
-30-
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
or
Nick Kohlmann, Corporate Communications
Toronto
T: +1-416-792-8734
E: Kohlmann@EAminerals.com
======================================================================
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 Jul 3, 2007 at 5:55:17 AM Pacific Time
======================================================================
.
![]()