East Asia Minerals Announces NAME Change to BARU GOLD Corp.
News Release
East Asia Minerals Corporation
Corporate Office:
9th Floor 1021 West Hastings St
Vancouver, BC V6C 1L6
T +1-604-684-2183 F +1-604-357-1987
www.eastasiaminerals.com
October 16, 2020 Trading Symbol: “EAS: TSX.V | EAIAF:US”
EAST ASIA MINERALS ANNOUNCES NAME CHANGE TO BARU GOLD CORP.
East Asia Minerals Corporation (the “Company”) wishes to change its name to “Baru Gold Corp.”
to mark the next phase of the Company’s business development as the Company looks forward to
the upgrade of the Sangihe Gold Project license to production operation stage.
Concurrent with the name change, the Company will adopt “BARU” as its new trading symbols on
TSX Venture Exchange ("TSX-V") and “BARUF” on the OTC.
Subject to the Indonesian Government Operations Production License being granted, the Company
intends to proceed to production without th e benefit of first establishing mineral reserves supported by
a feasibility study. 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 such as the interpretat ion 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, manufactur ing, 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.
As one of the newest emerging gold developer and near -term producers in Indonesia , Baru in
Indonesia local dialect, Bahasa baku, means recent, fresh, and new. It signifies the Company’s new
direction and determination i n advancing its Sangihe gold hea p leach operation in 2020 -2021.
Furthermore, the name pays homage to the rich heritag e of Indonesia mining which counts the
Freeport McMoran’s Grasberg and others in combination as the on e of the top 10 gold producing
countries globally in 2019.
The foregoing transaction is subject to approval of the Exchange.
ABOUT SANGIHE GOLD 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 as reported in the Company's "Independent Technical
Report on the Mineral Resource Estimates of the Binebase and B awone Deposits, Sangihe Project,
North Sulawesi, Indonesia" dated May 30, 2017. Only 10% of the gold bearing area has been
explored. Readers are c autioned that mineral resources that are not mineral reserves do not have
demonstrated economic viability. T he Company's 70 -percent interest in the Sangihe -mineral-
tenement contract of work ("CoW") is held through PT Tambang Mas Sangihe (TMS). The
remaining 30-percent interest in TMS is held by three Indonesian corporations. The term of the
Sangihe CoW agreement is for 30 years upon commencement of the production phase of the
project.
ABOUT EAST ASIA MINERALS CORPORATION
East Asia Minerals is a dynam ic junior gold developer with NI43 -101 gold resources in Indonesia,
one of the leading gold producer countri es in the world. EAS plans to advance and permit Sangihe
in near term and raise funds for a heap leach operation. East Asia has a team of mining
professionals in North America and locally in Indonesia with extensive experience in starting and
operating small-scale gold and coal assets. With the team in place, East Asia plans to raise capital
and market awareness 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, c onstitute “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 looki ng 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 an d 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 r isks related to design and engineering, manufacturing,
technological processes and test procedures and the r isk 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 securiti es 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.