East Asia Minerals Updates Amdal Timeframe
News Release
East Asia Minerals Corporation
Corporate Office:
9
th
Floor – 1021 West Hastings
Vancouver, BC V6E 0C3
T +1-604-684-2183 F +1-604-357-1987
www.eastasiaminerals.com
August 28, 2020 Trading Symbol: “EAS: TSX.V | EAIAF:US”
EAST ASIA MINERALS UPDATES AMDAL TIMEFRAME
East Asia Minerals Corporation (“EAMC” or “The Company”) is updating the timeframe
of AMDAL environmental permits announced on August 20 , 2020 to be received August
28, 2020.
The Company has been ad vised, by the Environmental Department that due to
administrative issues, the AMDAL environmental meeting previously scheduled for August
28, 2020 has been postponed and is expected to be rescheduled within the next week.
Mr. Terry Filbert, CEO of EAMC, adds, “ When working with government departments ,
delays are quite common. Our local team is progressing on other administrative fronts in
the meantime, to hit the ground running once AMDAL is approved so we are not sitting
idle. Given the extensive experi ence our team has locally, I am confident in our progress
and have been advised that all requirements have been completed by our Company and that
the AMDAL permit will be issued soon. I would like to thank all long term stakeholders
and our investors for their continued commitment and patience.”
Upon this administrative approval on AM DAL, EAMC will immediately apply for an
upgrade of the licence to 30 -year operation production status and commence discussion on
production financing and next steps.
ABOUT SANGIHE GOLD PROJECT
The Sangihe gold-copper project is located on the island of Sangi he off the northern coast
of Sulawesi and has an exist ing National Instrument 43 -101 inferred mineral resource of
114,700 indicated and 105,000 inferred ounces of Gold as reported in the Company's
"Independent Technical Report on the Mineral Resource Estim ates of the Binebase and
Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia" dated May 30, 2017. Only
10% of the gold bearing area has been explored. Readers ar e cautioned that mineral
resources that are not mineral reserves do not have demonstr ated economic viability. The
Company's 70-percent interest in the Sangihe -mineral-tenement contract of work ("CoW")
is held through PT Tambang Mas Sangihe (PTTMS). The rem aining 30-percent interest in
PTTMS is held by three Indonesian corporations. The ter m of the Sangihe CoW agreement
is for 30 years upon commencement of the production phase of the project.
ABOUT EAST ASIA MINERALS CORPORATION
East Asia Minerals is a dy namic junior gold developer with NI43 -101 gold resources in
Indonesia, one of the leadi ng 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 made by the Company will not be based
on a NI 43 -101 fe asibility 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.
East Asia has a team of mining professionals in North America and loc ally in Indonesia
with extensive experience in starting and operating small-scale gold and coal asset s. With
the te am in place, East Asia plans to raise capital and market awareness to develop it’s
highly prospective 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 content 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
+1-647-725-3888 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 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 s uch forward looking statements. Those risks include th e 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 expectati ons; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory,
recovery rates, refinery costs, and other relevant conversion factors, p ermitting and licensing risks; general market and
mining exploration risks and producti on and economic risks related to design and engineerin g, manufacturing,
technological processes and test procedures and the risk that the project’s output will not be sa lable 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. Acc ordingly, readers should not place
undue reliance on a ny 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.