East Asia Minerals Announces Shares for Debt Transaction

East Asia Minerals Announces Shares for Debt Transaction

July 12, 2019/The News Wire/Vancouver, British Columbia Symbol: EAS

East Asia Minerals Corporation. (the “Company” or “EAS”)(TSX-V) reports that its board of directors has

approved the settlement of up to $782,723 of debt through the issuance of common shares of the Company

(the “Debt Settlement”). Pursuant to the Debt Settlement, the Company would issue up to 13,045,380

common shares of the Company (the “Shares”) at a deemed price of $0.06 per Share to certain creditors of

the Company, including certain directors and officers (the “Creditors”)

The issuance of the Shares to the Creditors is subject to the approval of the TSX Venture Exchange. All

securities issued will be subject to a four month hold period which will expire on the date that is four months

and one day from the date of issue.

As certain insiders participated in the Debt Settlement, it is considered to be a “related party transaction”

under Multilateral Instrument 61 -101 – Protection of Minority Security Holders in Special Transaction

(“Mi-61-101”). All of the independent directors of the Company, acting in good faith, considered the

transactions and determined that the fair market value of the sec urities being issued to insiders and the

consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation

and minority shareholder approval requirements of MI 61-101 contained in section 5.5(a) and 5.7(a).

EAST ASIA MINERALS CORPORATION

Per: “Terry Filbert”

Terry Filbert, Chairman and CEO

For further information, contain 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.