East Asia Minerals Enters into $17,500,000 Million Credit Facility Agreement and 1st Tranche of Private Placement
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 Minerals Enters into $17,500,000 Million Credit Facility Agreement and
1st Tranche of Private Placement
May 31, 2018 Vancouver, British Columbia. Symbol: EAS
East Asia Minerals Corporation. (the `Company` or `EAS`) (TSX-V: is pleased to announce that it has entered
into an arrangement with Isatis Capital Group of Montreal to secure a credit facility loan for up to $17,500,000
(USD$13,500,000)
The contemplated credit facility arranged will have a maturity of 48 months with EAS being able to terminate
the loan at 36 months with a 2% penalty on remaining funds owed and will be secured by a universal deed of
hypothec over the Sangihe project in Indonesia. The loan will have an interest rate of 8% and will consist of
interest only payments for the first 18 months of its tenure. The loan, at the discretion of the lender(s) is
convertible to 99.9 gold bullion as a vehicle of re-payment with 12 months advanced notice and contained
within a formal offtake agreement.
The credit facility will be made available to EAS through the issuance in the United States of secured and
convertible notes maturing at 48 months relying up rule 506 (c) of Regulation D promulgated under the
Securities Act, 1933 as amended.
The financing described herein is contingent to market conditions and regulatory approval in United States
and Canada.
Funds will be used to bring the Sangihe Gold Project into production, exploration and infill drilling of the
Binebase / Bawone Corridor to increase both resources and reserves as well as general working capital.
The Company’s has completed the Indonesian Feasibility Study (IFS) and AMDAL Environmental reports
and 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 making a
decision for gold processing and production to begin in 2018. The Indonesian Feasibility Study is not a
Feasibility Study as defined by CIM as required by NI 43-101 but is required under Indonesian law in order
to obtain a licence to construct a production facility. The IFS will be re-issued within 30 days as a Pre-
Feasibility Study which will identify if all or part of the Mineral Resource may be converted to a Mineral
Reserve at the time of reporting. 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 outlined in the “forward looking
statement” below.
Terry Filbert, President & CEO of East Asia Minerals Corporation commented that “this funding solution
enables EAS to move forward aggressively on long term plans to develop the Sanghie property to generate
revenue and positive cash flow for the Company which will enable us to finishing drilling our the Sangihe
and increase production and mine life as well as having the recourses to devote to our Miwah project. This
will put the company on a fast track to increase shareholder value in a non-dilutive manner”.
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.
Sangihe 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. The Company’s 70-percent interest in the Sangihe-mineral-tenement contract 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 agreement is for
30 years upon commencement of the production phase of the project.
The Company also announces that it has closed the first tranche of a non-brokered private placement of
2,200,000 units of the Company (the “Units”) at $0.05 per Unit for gross proceeds of $111,000 (the
“Offering”).
Each Unit consists of one common share in the capital of the Company (a “Share”) and one share purchase
warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional common share in the
capital of the Company (a “Warrant Share”) at a price of $0.10 per Warrant Share for a period of two years
from the closing of the Offering.
The Company has paid eligible finders a cash commission in the aggregate amount of approximately $3,570
and 71,400 finders warrants (“Finders Warrants”) on the Offering within the amount permitted by the policies
of the TSX Venture Exchange (the “Exchange”). Each Finders Warrant entitles the holder to purchase one
common share in the capital of the Company at a price of $0.10 for a period of two years from the closing of
the Offering. All securities issued in connection with the Offering will be subject to a statutory hold period
of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The net proceeds of the Offering after payment of commissions will be used by the Company to pay expenses
related to the Company’s properties in Indonesia, settle payables and for working capital.
EAST ASIA MINERALS CORPORATION
Per: “Terry Filbert”
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 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, 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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