East Asia CEO Sells Shares to Facilitate Obtaining the Production Licence
East Asia CEO Sells Shares to Facilitate Obtaining the Production Licence
August 21, 2019
Vancouver, British Columbia Symbol: EAS
Share Sale by Terry Filbert CEO and Chairman
East Asia Minerals (“the Company”) advises that in order to maintain the momentum on
completing the Sangihe Production License approval, CEO Terry Filbert has recently elected to
sell shares and loan the net proceeds to the company in order to pay expenses that are necessary in
the final stages of the production license approval for the Sangihe project.
Sangihe Project
The Sangihe gold-copper project is located on the island of Sangihe off the northern coast of
Sulawesi and has an existing National Instrument 43-101 inferred mineral resource of 114,700
indicated and 105,000 inferred ounces of Gold. The Company’s 70-percent interest in the Sangihe-
mineral-tenement contract of work (“CoW”) is held through PT Tambang Mas Sangihe (PTTMS).
The remaining 30-percent interest in PTTMS is held by three unaffiliated Indonesian corporations.
The term of the Sangihe CoW agreement is for 30 years upon commencement of the production
phase of the project.
EAST ASIA MINERALS CORPORATION
Per: “Terry Filbert”
Terry Filbert, Chairman and CEO
For further information, contact Mark Sommer at 1-604-684-2183, [email protected] or visit the
Company’s website at www.eastasiaminerals.com
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.