East Asia Announces Financing and Proposed Consolidation

East Asia Announces Financing and Proposed Consolidation

January 25, 2017 Sy mbol: EAS

Financing, Share Consolidation and Change of Board and Appointment of new CEO

East Asia Minerals Corporation (the “Company”) announces that it has arranged capital funding through

two offerings. The first offering will raise $940,000 from the sale of 94,000,000 units at $0.01 per unit,

where each unit is comprised of a common share and one-half of one share purchase warrant. One whole

share purchase warrant can be exercised for the purchase of one common share at the price of $0.05 per

common share.

After the close of the first offering, the Company will call a special meeting of the shareholders who will

be asked to approve a share consolidation on a basis of ten (10) old shares for one (1) new share (the

“Consolidation”) for a term of 5 years.

Conditional upon completion of the first offering resulting in minimum gross proceeds of $800,000, the

Company will complete a change of of the Board of Directors. Ed Rochette, David Anthony, and Peter

Sederowsky will resign as directors and each of Kim Oishi, Terry Filbert, Alan McMillan, and Scott

Chaykin will be appointed as directors of the Company. Terry Filbert will also be appointed as Chief

Executive Officer of the Company and of Sanghe Gold Corp., the Company’s wholly-owned subsidiary.

The new directors of the Company are expected to be appointed after the completion of the minimum

$800,0000 first offering.

The second offering will comprise a non-brokered private placement of convertible debentures for

$2,560,000, paying 10% interest per annum (not compounded) accruing until conversion, the principal

and accrued interest shall be convertible into shares during a 5 year term at $0.10 per post Consolidation

common share, where the Company can accelerate conversion by news release and direct notice if the

common shares trade at a post consolidation weighted average price of $0.15 for a 10 trading day period.

Finder’s fees for both offerings may be payable to qualified individuals comprised of shares, warrants or

cash or any combination thereof.

Certain subscribers under the foregoing offerings may be participating through an exemption contained

in Multilateral CSA Notice 45-313 and the various corresponding blanket orders and rules of

participating jurisdictions (the “ Existing Shareholder Exemption ”) or Multilateral CSA Notice 45-318

and various blanket orders and rules of participating jurisdictions (the “Investor Dealer Exemption” ).

For subscribers utilizing the Existing Shareholder Exemption, the Offering is available to all

shareholders of the Company as at January 24, 2017, (the " Record Date" ) (and still are shareholders)

who are eligible to participate under the Existing Shareholder Exemption. Any person who becomes a

shareholder of the Company after the Record Date is not permitted to participate in the offerings using

the Existing Shareholder Exemption but other exemptions may still be available to them. Shareholders

who became shareholders after the record date should consult their professional advisors when

completing their subscription form to ensure that they use the correct exemption.

There are conditions and restrictions when relying upon the Existing Shareholder Exemption, namely,

the subscriber must: a) be a shareholder of the Company on the Record Date (and still are a

shareholder), b) be purchasing the Units as a principal, i.e. for their own account and not for any other

party, and c) may not purchase more than $15,000 value of securities from the Company in any twelve

month period. There is one exception to the $15,000 subscription limit. In the event that a subscriber

wants to purchase more than $15,000 value of securities then they may do so provided they have first

received 'suitability advice' from a registered investment dealer and, in this case, subscribers will be

asked to confirm the registered investment dealer's identity and employer.

The proposed net proceeds received from the Offering after payment of commissions are intended to be

used by the Company for to pay expenses related to the Company’s properties in Indonesia, settle

payables and for working capital. the following purposes:

ITEM AMOUNT

Gross Proceeds $940,000

Finders Fees $65,800

Net Proceeds $874,200

Indonesia

Sangihe Property

Dead Rent $236,250

Property taxes $77,566

RKAB presentation - Feb 2017 $40,500

Chief Geologist $20,000

CFO Indonesia Subsidiary $7,500

Sub Total $381,816

Canada

East Asia Payables

Management& Directors Settlement $269,263

Reimbursement of expenses $30,737

Payables $100,000

Accrued Audit and Legal Fees 2015 & 2016 $30,000

Sub Total $430,000

G&A Public Company $30,000

AGM $20,000

Contingency $12,384

Sub Total $62,384

TOTAL $874,200

If an offering is over-subscribed, it is possible that a shareholder's subscription may not be accepted by

the Company even though it is received. Additionally, in the event of an imbalance of large

subscriptions compared to smaller subscriptions management of the Company reserves the right in its

discretion to reduce large subscriptions in favour of smaller shareholder subscriptions.

If an offering is not fully subscribed or the over-allotment option is not fully exercised, then

management of the Company will determine the allocation of net proceeds amongst the above purposes

in the best interests of the Company. There may be circumstances however, where, for sound business

reasons, a reallocation of funds may be necessary.

Subscribers utilizing the Existing Shareholder Exemption must reside in one of the following

jurisdictions: Alberta, British Columbia, Manitoba, New Brunswick, Ontario, Nova Scotia, Northwest

Territories Prince Edward Island, Québec, Saskatchewan and Yukon. Shareholders resident in

Newfoundland and Labrador are not permitted to participate in the Offering under the Existing

Shareholder Exemption. Existing shareholders resident in countries other than Canada will need to meet

local jurisdiction requirements to participate.

Subscribers implementing the Investor Dealer Exemption must reside in one of the following

jurisdictions: Alberta, British Columbia, Manitoba, New Brunswick and Saskatchewan. Subscribers

resident in Ontario, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Prince Edward

Island, Québec and Yukon are not permitted to participate in the Offering under the Existing

Shareholder Exemption. Subscribers resident in countries other than Canada will need to meet local

jurisdiction requirements to participate.

The foregoing transactions are subject to approval of the TSX Venture Exchange.

EAST ASIA MINERALS CORPORATION

Per: “Edward Rochette”

Edward Rochette, Director

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.