East Asia Commences Drilling and Geotechnical Survey, Provides Update ON Feasibility Study, Environmental Report FOR Indonesian GOLD Property
905 West Pender Street, Suite 210
Vancouver, BC Canada V6C 1L6
T +1-604-684-2183
F +1-604-357-1987
www.eastasiaminerals.com
News Release
EAST ASIA COMMENCES DRILLING AND GEOTECHNICAL SURVEY, PROVIDES UPDATE ON
FEASIBILITY STUDY, ENVIRONMENTAL REPORT FOR INDONESIAN GOLD PROPERTY
October 10, 2017 Symbol: EAS
The Company is pleased to provide an update on current exploration activ ities relating to the ongoing
Indonesian Feasibility Study (IFS), AMDAL Environmental report status , geotechnical and metallurgical
work being conducted at its Sangihe gold property in Indonesia.
The company’s focus is on completing Indonesian Feasibility Study (IFS) and AMDAL Environmental
reports as once they are submitted and accepted by the Indonesian Mining Department (MEMR), construction
of the mining facilities and infrastructure can begin at the Sangihe project. The company anticipates gold
processing and production to begin by mid 2018. The Indonesian Feasibility Study is not a Feasibility Study as
defined by CIM as required by NI 43-101. The Company cautions readers that the any production decision made by
the Company will probably 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.
The IFS, which is being conducted by Resindo Resources and Energy, an Indonesian consulting firm, is well
underway and comprised of several elements:
- Drilling of new geotechnical core samples commenced on September 25, 2017 as part of the required
components for Indonesian Feasibility Study (IFS) in order to provide the most up to date and
accurate core sample for pit wall design.
- Hydro-geological surveying is underway and is desi gned to help locate and identify the water table
level in the pit design and best water sources needed for upcoming dril ling, heap-leaching and
ultimately gold production. The Company anticipates completion of surveying by the end of October,
2017.
- Metallurgical surveying has been undertaken to id entity the most suitable heap-leaching locations
Drilling of the Metallurgy hol es to provide the samples required for all of the Metallurgical test work
required for the IFS co mmenced on October 5 th and is anticipated to be completed by mid October
2017.
The entire Sangihe exploration camp and crew quarters have been completely renovated and are now
fully operational.
Town-hall meetings are being conducted with th e environmentalist team a nd local villagers in
conjunction with the AMDAL environmental report. The ba seline study is expected to be completed by
November, 2017 and the AMDAL environmental report by December, 2017.
The Company has expanded local administration, accounti ng staff and logistical systems in anticipation
of developing the Sangihe project from the feasibility stage into full production, slated for mid-2018.
Sangihe Project
The Sangihe gold-copper project is locat ed on the island of Sangihe off the northern coast of Sulawesi and has
an existing National Instrument 43-101 inferred minera l resource of 266,000 ounces of Gold. The Company’s
70-percent interest in the Sangihe-mineral-tenement cont ract 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 agreem ent is for 30 years upon comm encement of the production
phase of the project.
East Asia Minerals Corporation
Terry Filbert, Chairman & 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 depos its;
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 ris ks; 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.
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