East Asia Minerals Lists with OCMX and offers USD$5 million Secured Promissory Notes
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 Lists with OCMX and offers USD$5 million Secured Promissory
Notes
March 1, 2019 / TheNewswire / Vancouver, British Columbia. Symbol: EAS
East Asia Minerals Corporation. (the `Company` or `EAS`) (TSX-V) is pleased to announce that it has entered
into a credit listing arrangement with Optimize Capital Markets (OCMX) of Toronto to secure a credit facility
loan for up to USD$5,000,000 which will be approximately CAD$6,500,000.
The Company is offering up to 20 Secured Promissory Notes with a face value of USD$250,000 each (the
“Notes”). The minimum amount of the offering and first closing will occur upon the receipt of subscriptions
for 4 of the Notes. The final closing for the offering will occur upon the receipt of total subscriptions for 20
of the Notes, or earlier at the Company’s discretion.
The Note terms will be governed by a credit facility agreement. The contemplated credit facility will have a
maturity of 48 months from the date of the first closing. The Notes will bear interest at a rate of 11% per
annum. The terms of repayment will be interest only for 48 months with the outstanding principal due with
the 48th month’s interest payment. EAS can, at its sole discretion, elect to repay the Notes after 36 months
and before the 48th month. If EAS elects to repay the Notes early, EAS will, in addition to the principal and
interest then due, pay a pre-payment penalty of 2% on the outstanding principal at the time of early repayment.
The Notes will be secured against the interest of EAS in the Sangihe (Indonesia) mining project through a
mortgage granted against the shares held by EAS in its wholly owned Canadian subsidiary, Sangihe Gold
Corporation. Sangihe Gold Corporation holds a 70% interest in PT TMS, an Indonesian company, which
wholly owns the exploration and exploitation license for the Sangihe mining project.
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
which have been submitted to the Indonesian Mining Department (MEMR). As soon as funding is in place,
construction of the mining facilities and infrastructure can begin at the Sangihe project.. 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 license 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 on long term plans to develop the Sangihe property to generate revenue and
positive cash flow for the Company. 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.
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.