East Asia Minerals Closes $167,273 Final Tranche of $300,000 Financing
N e w s R e l e a s e
E a s t A s i a M i n e r a l s C o r p o r a t i o n
Corporate Office:
T + 1 - 6 0 4 - 6 8 4 - 2 1 8 3 F + 1 - 6 0 4 - 3 5 7 -1987 w
ww.eastasiaminerals.com
May 14, 2020 Trading Symbol: “EAS: TSX.V | EAIAF:US”
East Asia Minerals Closes $167,273 Final Tranche of $300,000 Financing
East Asia Minerals Corporation. (the “Company”, “East Asia” or “EAS”)(TSX-V)
pleased to announce that it has closed financing previously announced on March 27, 2020
for a total of $300,333.
The Company received aggregate gross proceeds of $167,273 the issuance of 4,779,228
units (the "Units") of the Company at a price of $0.035 per Unit. Each Unit will comprise
one common share in the capital of the Company (each a "Share") and one common share
purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one
Share at a price of $0.06 and expires in 24 months from the closing date. All securities
issued under the Private Placement will be subject to a hold period expiring four months
and one day from the closing date.
Terry Filbert, chief executive officer of EAS, comments, "With the proceeds from this
financing we are excited to start executing and advancing our announced milestones.
With rising gold prices we believe the EAS assets will generate more interest as we start
delivering on operational, environmental, and strategic updates."
The Private Placement is subject to certain conditions including, but not limited to, the
receipt of all necessary regulatory approvals, including acceptance of the TSX Venture
Exchange.
The securities distributed under the offering will be subject to a 4 month and 1 day hold
period expiring on September 13, 2020.
ABOUT EAST ASIA MINERALS CORPORATION
East Asia Minerals is a dynamic junior gold developer with two assets totaling combined
resources of 3.3 million ounces NI 43-101 gold resources in Indonesia, one of the leading
gold producer countries in the worl d. EAS plans to advance and permit Sangihe in near
term and raise funds for a 1,000 ounces per month heap leach op eration. With cashflow
from operations, the plan is to further expand resources throug h drilling of the
Company’s projects. 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 ma y be involved increased uncertainty and various
technological and economic risks outlined in the “forward looking statement” below.
East Asia has a team of mining professionals in North America a nd locally in Indonesia
with extensive experience in operating small scale gold and coa l assets, working
diligently to develop it’s highly prospective project portfolio.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist o f 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) accep ts responsibility for the adequacy or accuracy
of this release.
Certain statements in this News Release, which are not hi storical in nature, constitute “forward looking statements”
within the meaning of that phrase under applicable Canadian s ecurities law. These statem ents include, but are not
limited to, statements or information c oncerning future work programs, results and timing of any work programs, the
Company’s performance or events as of the date hereof. These statements re flect management’s current assumptions
and expectations and by their nature ar e subject to certain underlying assu mptions, 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 forw ard looking statements. Thos e 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; comm odity and currency price fluctuation; failure to obtain
adequate financing; regulatory, recovery rates, refinery cost s, and other relevant con version factors, permitting and
licensing risks; general market and mi ning exploration risks and production and ec onomic risks related to design and
engineering, manufacturing, technological processes and test procedures and the ri sk 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, in dependent investigation and analysis of
the Company and are encouraged to seek independent prof essional advice before making any investment decision.
Accordingly, readers should not place undue reliance on an y 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.