East Asia Minerals Provides Property Update
EAST ASIA MINERALS PROVIDES PROPERTY UPDATE
May 30, 2017 Symbol: TSXV: EAS
Vancouver, British Columbia, May 29, 2017. East Asia Minerals Corporation (“East Asia” or the
“Company”). (TSXV:EAS) (the “Company”), provides an update on its properties in Indonesia.
At the request of IIROC, East Asia wishes to confirm that the Company’s management is
unaware of any material change in the Company’s operations that would account for the recent
increase in market activity.
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-compliant inferred mineral resource .
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 Indonesian corporations. The term of the Sangihe CoW agreement is for 30
years upon commencement of the production phase of the project.
PTTMS has now paid its 2016 land rent payments to the Indonesian mining authorities and
expects its CoW to be current with the Indonesian Mining Dept. in June 2017 upon the filing of
its 2016 audit.
Miwah project
The Miwah proje ct is located in the province of Aceh and has an existing National Instrument
43-101 compliant inferred resource of 3.14 million ounces of gold and 8.95 million ounces of
silver. The company holds an 85 -per-cent indirect equity interest in the Miwah projec t. The
Miwah project lies within three contiguous Izin Usaha Pertambangan (IUP), also referred to as
mining business licences, which the company is party to through co -operation agreements with
its partners. The IUPs were issued in November, 2009, by the r egent of Pidie regency of the
province of Aceh, Indonesia.
The IUP itself does not grant its holder the complete set of permits or licences required to carry
out mining activity. To conduct mining activity, the IUP holder is separately responsible for
applying and receiving any other permits required, which may include, but are not limited to,
forestry access permits and landowner consents.
The current Miwah project resource is entirely located in a Ministry of Environment and
Forestry (“MoF”) designated area called a “Protected Forests”. The project area where the IUPs
are located will need to be reclassified by the MoF as “Production Forests" in order for the
Company to seek permits needed to resume drilling and other surface activities.
East Asia is wo rking with its Indonesian partners to clarify the status of the IUPs, including
annual payments, reports and exploration activities required to make the IUP current, and the
process for a reclassification by the MoF to a Production Forest.
The QP for this release, who has reviewed it and approved it, is Frank Rocca, Chief Geologist of
East Asia Minerals Corp. Mr. Rocca earned a Bachelor of Applied Scienc e in Geology from Curtin
University of Technology, Perth, Australia. Mr. Rocca is a member of the Aust ralian Institute
of Mining and Metallurgy.
For further information please contact:
Ward Kondas
778-918-8384
For further information, visit the Company's website at www. eaminerals.com
This news release contains forward -looking information, which involves known and unknown
risks, uncertainties and other factors that may cause actual events to differ materially from
current expectation. Important factors - including the availability of funds and the results of
financing efforts, - that could cause actual results to differ materially from the Company's
expectations are disclosed in the Company's documents filed from time to time on SEDAR (see
www.sedar.com). Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press release. The
Company disclaims any intention or obligation, except to the extent required by law, to update
or revise any forward -looking statements, whether as a result of new information, future
events or otherwise.
East Asia Minerals Corporation
Terry Filbert, Chairman & CEO,
Neither TSX Venture Exchange nor its Regulation Services Prov ider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.