East Asia Minerals Announces Survey Contract FOR Land Acquisition & Meeting Date FOR Amdal
News Release
East Asia Minerals Corporation
Corporate Office:
9th Floor – 1021 West Hastings
Vancouver, BC V6E 0C3
T +1-604-684-2183 F +1-604-357-1987
www.eastasiaminerals.com
August 20, 2020 Trading Symbol: “EAS: TSX.V | EAIAF:US”
EAST ASIA MINERALS ANNOUNCES SURVEY CONTRACT FOR LAND
ACQUISITION & MEETING DATE FOR AMDAL
East Asia Minerals Corporation (“EAMC” or “The Company”) is pleased to announce
that it has retained Martin Jati Lawyers for land survey and land acquisition service of the
mining area located within the PTTambang Mas Sangihe’s Contract of Work in the North
Sulawesi Province. The area covered is a maximum 77 (seventy seven) hectares.
The services provided will include , preparation of working maps based o n definitive
coordinates of the Concession Area; conducting orientation survey to the mining area;
conducting temporary poles establishment for the mining area; conducting land inventory
for crops, trees, any vegetation, and survey for the appropriate pricing for the land, crops,
trees and vegetation that will be compensated wit hin the mining area; mapping of land
use, administrative, occupants, and land price estimation within the Concession Area;
preparing a progress report, the final report , and recommendations based on the
preliminary land survey; verify the Concession Area to determine leg al standings of
prospective participants of the land release program; providing assistance with land
release program socialization; collection and verification of per sonal data and land
documents provided by prospective participants; providing assistance during negotiation;
preparation of the land release documentation and coordination with administrative
village officers of land offices ’; providing assistance to facilitating payments based on
completion of land release documents through cash or bank transfers; and delivery of
land acquisition documents and maps.
Mr. Terry Filbert, CEO of EAMC, comments, “This contract provides us with complete
support and guidance to ensure a smooth land acquisition process that will provide fair
and accurate compensation to all landowners. The land acquisition will be a 20-year
lease with government set compensation based on an analysis of the land, crops, trees
and vegetation in accordance with the Martin Jati survey. This is a detailed process that
is expected to take two to three months to complete.”
AMDAL ENVIRONMENTAL PERMITS UPDATE
Further to the update provided on July 31st, 2020, the Company is pleased to announce
that the necessary steps required to update the AMDAL environmental assessment study
(the “AMDAL”) report have taken place and the meeting of government and community
has been scheduled for August 28, 2020. Delays in scheduling the meeting were due to
the new COVID-19 quarantine requirements and a week of Indonesian government
holidays, causing a backlog of similar government meetings . After app roval of the
AMDAL, the Company intends to apply for upgrade of the licence to 30-year operation
production status and complete the acquisition of the construction financing.
ABOUT EAST ASIA MINERALS CORPORATION
East Asia Minerals is a dynamic junior gold developer with NI43-101 gold resources in
Indonesia, one of the leading gold producer countries in the world. EAS plans to advance
and permit Sa ngihe in n ear term and raise funds for a heap leach operation. The Company
cautions readers that the any production decision made by the Company will not be b ased on a NI 43-101
feasibility study of mineral reserves that d emonstrates economic and technical viability and as such, there
may be involved increased uncertaint y and various technological and economi c risks outli ned in the
“forward looking statement” below.
East Asia has a team of mining professionals in North America and locally in Indonesia
with extensive experience in operating small -scale gold and coal asset s, working
diligently to develop it’s highly prospective project portfolio.
Frank Rocca, BA ppSc.(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, constitute “forward looking statements”
within the meaning of that phrase under applicable Canadian securities law. These stateme nts include, but are no t
limited to, statements or in formation concerning future work programs, results and timing of any work programs, the
Company’s performance or events as of the date hereof. These statements refl ect management’s current assumptions
and expectations and by t heir nature are subject to cer tain underlying assumptions, known and unknown risks and
uncertainties and other factors which may cause actual results, performance or events to be materially diff erent from
those expressed or implied b y such forward looking statements. Those risks include the interpretation of drill results;
the geology, grade and con tinuity of mineral deposits; the possibility that future exploration, development or mining
results will not be consistent with our expect ations; commo dity and c urrency price fluctuation; fai lure to obtain
adequate financing; regulatory, recovery rates, re finery 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 inv estment advice. Readers should perform a detailed, independent in vestigation and analysis of
the Company and are encouraged to seek independent professional advice before making any investment decision.
Accordingly, readers sh ould not place undue reliance on a ny 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.