East Asia Minerals Enters into Loan Agreement FOR up to US$23,000,000
East Asia Minerals Corporation
Corporate Office:
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 LOAN AGREEMENT
FOR UP TO US$23,000,000
August 28, 2019 Symbol: EAS
Vancouver, British Columbia - East Asia Minerals Corporation (the “Company”) (EAS:TSX.V,
EAIAF:OTCBB) is pleased to announce that it has entered into a loan facility agreement providing up to
$23 million in working capital for the final development stages of the Company’s Sangihe Project.
CEO Terry Filbert said: "The proposed loan facility agreement will enable us to begin exploration and
infill drilling of the Binebase/Bawone corridor to increase both resources and reserves, as well as for
general working capital."
Loan Facility Terms
The Company has entered into a secured loan facility agreement with a Middle East based private fund,
for the provision of up $23 million in working capital for the Company’s Sangihe Project and to move
other projects forward as well. The arrangements under the loan provide for a term expiring 22 years
from the date of one or more advances under the loan, including a two (2) year grace period from any
principal and interest payments. Interest shall accrue at 4% on ninety-one percent of any advances
comprising the principal of the loan. The loan shall be secured on the shares the Company holds in its
wholly owned subsidiary that in turn wholly owns the Company’s 70% interest in the Sangihe Project
through its Indonesian subsidiary.
The Sangihe gold-silver-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
ounces and 105,000 inferred ounces of gold. The Company's 70 percent interest in the Sangihe mineral
tenement contract of work is held through PT Tambang Mas Sangihe(PT TMS). The remaining 30
percent interest in PT TMS is held by three unaffiliated Indonesian corporations. The term of the Sangihe
contract of work agreement is for 30 years upon commencement of the production phase of the project.
On behalf of the Board of Directors of East Asia Minerals,
Per: “Terry Filbert”
Terry Filbert, Chairman and 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.