East Asia Minerals Reminder to Warrant Holders of Upcoming Warrant Expiry Dates
News Release
East Asia Minerals Corporation
Corporate Office:
9th Floor – 1021 West Hastings
Vancouver, BC V6E 0C3
T +1-604-684-2183 F +1-604-357-1987
www.eastasiaminerals.com
August 24, 2020 Trading Symbol: “EAS: TSX.V | EAIAF:US”
EAST ASIA MINERALS REMINDER TO WARRANT HOLDERS OF
UPCOMING WARRANT EXPIRY DATES
East Asia Minerals Corporation (“EAMC” or “The Company”) would like to advise current warrant
holders to check their warrants for expiry dates and accelerated exercise clauses.
The Company advise s warrant holders that there are 5,040,000 warrants expiring September 13 ,
2020, 4,168,900 warrants expiring October 11 , 2020, and 4,300,000 warrants expiring November
13, 2020.
Also, for those investors who recently part icipated in the private placement that closed on April 17,
2020, please note that there are 3,822,714 warrants exercisable at $0.06 that have an accelerated
exercise clause.
If for any ten (10) consecutive trading days the closing price of the Shares on the TSX
Venture Exchange (the “Exchange”) exceeds $0.12 at any time commencing after (4) months
after the Closing Date and until the expiry date of the warrants, then the remaining term of the
warrants will be reduced to thirty (30) days, commencing after the end of such ten (10)
consecutive trading day period.
The stock price has been above $0.12 since the warrants became exercisable on August 17, 2020. The
Company will notify warrant holders by way of a press release when the warrants have accelerated
and provide new expiry dates in a future press release.
Terry Filbert, (CEO for East Asia ) commented, “We would like to th ank the shareholders who
have supported us over the last three years , and are delighted for those that have realized a good
return on not only their original investment but now on the exercise of th e warrants. Our plan is to
continue to increase shareholder value as we work hard to achieve our ultimate goal of production
at the Sangihe gold project . In the last few weeks, several warrant holders have exercised the ir
warrants. This extra cash flow has aided the Company in accelerating our execution of advancing
Sangihe gold project towards production license and financing.”
With the funds received on warrant exercises to date, the company has:
- Signed an agreement to begin the land s urvey work required for the land acquis ition (as
announced on August 20, 2020).
- Completed the mining reclamation plan.
- Paid all of the ancillary financial obligations required to obtain the production permit.
Before the production licence is issued th e Company must pay US$400,000 for past and current
deadrent, which is the annual mining licence tax paid to the federal government based on a cost per
hectare for the area assigned in the contract Sangihe gold area. The Company plans to use funds
received from the warrant exercises to pay this financial obligation. 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 viabil ity and as such, there
may be involved increased uncertainty and various technological and economic risks outlined in the
“forward looking statement” below.
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold -copper project is located on the island of Sangihe off the nort hern coast of
Sulawesi and has an existing National Instrument 43 -101 inferr ed mineral resource of 114,700
indicated and 105,000 inferred ounce s of Gold as reported in the Company's "Independent
Technical Report on the Mineral Resource Estimates of the Bin ebase and Bawone Deposits,
Sangihe Project, North Sulawesi, Indonesia" dated May 30, 2017 . Only 10% of the gold bearing
area has been explored. Readers are cautioned that mineral resources that are not mineral reserves
do not have demonstrated ec onomic viability. The Company's 70 -percent interest in t he Sangihe-
mineral-tenement contract of work ("CoW") is held through PT Tambang Mas Sangihe (PT TMS).
The remaining 30-percent interest in PTTMS is held by three Indonesian corporations. The term of
the Sangihe CoW agreement is for 30 years upo n commencement of the production phase of the
project.
ABOUT EAST ASIA MINERALS CORPORATION
East Asia Minerals is a dynamic junior gold developer with NI43-101 gold resources in Indonesia,
one of the leading gold producer countries in the world. EAS plans to advance and permit Sangihe
in near term and raise funds for a heap leach operation. The Company cautions readers that the any
production decision mad e by the Co mpany will not be b ased on a NI 43 -101 feasibility study of
mineral reserves that d emonstrates economic and technical viability and as such, there may be
involved increased uncertaint y and various te chnological and economi c risks outli ned in the
“forward looking statement” below.
East Asia has a team o f mining professionals in North Ame rica and locally in Indonesia with
extensive experience in starting and operating small-scale gold and coal asset s. With the team in
place, East Asia plans to raise capital and market awareness to develop it’s h ighly prospec tive
project portfolio.
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 cont ent 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) accepts responsibility for the adequacy or accuracy of
this release.
Certain statements in this News Rel ease, 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 diff erent from those expressed or implied
by such forwar d looking statements. Those risks includ e th e interpretation of drill re sults; the geology, grade and
continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent
with our expect ations; commo dity and c urrency price fluctuation; fai lure to obtain adequate financin g; regulatory,
recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and
mining explora tion risks and produ ction and eco nomic risk s related to design and engine ering, 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 i nvestment decision. Accordingly, readers sh ould not place
undue reliance on a ny forward -looking statement . Except as required by applicabl e 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.