East Asia Minerals completes 1st Tranche of Financing
News Release
East Asia Minerals Corporation
Corporate Office:
T +1-604-684-2183 F +1-604-357-1987 w
ww.eastasiaminerals.com
April 21, 2020 Trading Symbol: “EAS: TSX.V | EAIAF:US”
East Asia Minerals completes 1st Tranche of Financing
East Asia Minerals Corporation (the “Company”) – Further to the Company’s news
releases dated March 27, 2020 and March 30, 2020, the Company is pleased to announce
the completion of the first tranche of the private placement offering in the amount of
$133,059.99.
The Company will pay a finder’s fee of $735 in cash commission and 21,000 broker’s
warrants.
The securities distributed under the offering will be subject to a 4 month and 1 day hold
period expiring on August 18, 2020.
Terry Filbert, chief executive officer of EAS, comments, "This represents a new step
forward for EAS and we aim to close the rest of the financing imminently to advance our
permitting on Sangihe."
The Company intends to use the proceeds of the Private Placement to advance the
Indonesian project Sangihe open heap leach gold resource, environmental reporting,
project licenses, and general corporate working capital purposes.
The Private Placement is subject to certain conditions including, but not limited to, the
receipt of all necessary regulatory approvals, including acceptance of the TSX Venture
Exchange
ABOUT EAST ASIA MINERALS CORPORATION
East Asia Minerals is a dynamic junior gold developer with two assets totaling combined
resources of 3.3 million ounces NI 43-101 gold resources in Indonesia, one of the leading
gold producer countries in the world. EAS plans to advance and permit Sangihe in near
term and raise funds for a 1,000 ounces per month heap leach operation. With cashflow
from operations, the plan is to further expand resources through drilling of the
Company’s projects. The Company cautions readers that the any production decision made by the
Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates
economic and technical viability and as such, there may be involved increased uncertainty and various
technological and economic risks outlined in the “forward looking statement” below.
East Asia has a team of mining professionals in North America and locally in Indonesia
with extensive experience in operating small scale gold and coal assets, working
diligently to develop it’s highly prospective project portfolio.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia
Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and
approves the content of this release.
EAST ASIA MINERALS CORPORATION
Per: “Terry Filbert”
Terry Filbert, Director
President & CEO
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements”
within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not
limited to, statements or information concerning future work programs, results and timing of any work programs, the
Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions
and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and
uncertainties and other factors which may cause actual results, performance or events to be materially different from
those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results;
the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining
results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain
adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and
licensing risks; general market and mining exploration risks and production and economic risks related to design and
engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not
be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should
not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of
the Company and are encouraged to seek independent professional advice before making any investment decision.
Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by
applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to
reflect events or changes in circumstances that occur after the date hereof.