East Asia Minerals Corporation

East Asia Minerals Corporation

March 02, 2010 08:55 ET

East Asia Drills 3.28 g/t Gold Over 61 Metres Within 116 Metres Grading 2.18 g/t Gold; Zone Opened Further North and to Underlying Stratiform Alteration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2010) - East Asia Minerals Corporation (TSX VENTURE:EAS) announces that drilling continues to expand the strong gold mineralization at the Miwah Main Zone in Aceh Province, Northern Sumatra, Indonesia. Assays have been received for the remaining portion of the upper mineralized interval in EMD018, and for all of EMD020. The upper mineralized interval in EMD018 encountered 2.18 g/t gold over 116 metres, including 3.28 g/t gold over 61 metres; followed by a secondary zone of intermittent massive/vuggy silica and alunite alteration (assays pending). EMD020 encountered 2.12 g/t gold over 108.2 metres, including 3.34 g/t gold over 46.7 metres. This drilling has extended the gold zone further to the north where it remains open. East Asia has validated the 1.2 kilometre east-west width of the shallow, laterally extensive Main Miwah Gold Zone, and has encountered gold mineralization in all of its holes. The Main Miwah Gold Zone remains open in all directions with the Moon River area expanding the north-south potential from 400 metres to more than 600 metres, whilst remaining open further to the north towards Sipopok.

EMD018 was drilled with a due north azimuth and 30 degree dip to test the area north of EMD001/002/003 where 1.71 g/t gold over 158.0 metres, including 3.29 g/t gold over 66.0 metres; and 2.25 g/t gold over 142.9 metres, including 4.31 g/t gold over 51.0 metres were encountered by the Phase One drill campaign. The hole was completed at 304 metres downhole depth and extended the favourable silica alteration 260 metres to the north of EMD001/002/003 where it remains open. Gold grading 2.18 g/t was encountered from 39 to 155 metres downhole depth, including 3.28 g/t gold from 39 to 100 metres (39 to 86 metres reported February 17, 2010). Of added significance is that the main mineralized body is underlain by a newly recognized secondary zone of intermittent massive/vuggy silica and alunite alteration from 215.5 to 299.5 metres. This is interpreted to represent a stratiform layer underlying the laterally extensive Main Miwah Gold Zone. Assays for 161 to 304 metres are pending and further work will determine the potential upside of this gold mineralization. The mineralization in EMD018 is open in all directions and at depth, and is interpreted to be contiguous to the southwest towards EMD003, to the northeast towards EMD017, and north past EMD019.

EMD019 (reported February 17, 2010) encountered 4.08 g/t from 82 to 163 metres downhole depth, including 9.29 g/t gold from 90 to 111 metres. This hole was drilled in a south direction to test the area from 155 metres north of EMD001/002/003/018. The mineralization is open in all directions and at depth, and is interpreted to be contiguous to the southwest towards EMD003, to the northeast towards EMD017, and south past EMD018.

EMD20 was drilled with a 205 degree azimuth and 50 degree dip to test the area west of EMD019, and finished at 200 metres downhole depth. Gold grading 2.12 g/t was encountered from 77.3 to 185.5 metres, including 3.34 g/t gold from 77.3 to 124.0 metres. The gold is open to depth and is interpreted to be contiguous in all directions towards recently completed holes, all of which are mineralized.

Michael Hawkins, President and CEO of East Asia Minerals Corporation stated "The intersection of strong and consistent gold mineralization in EMD018 and 020 again demonstrates the veracity of the exploration model we have developed for the Miwah Main Zone. The discovery of an underlying massive/vuggy silica and alunite alteration layer in EMD018 opens an added dimension and solidifies the growing importance of this play. Drilling of the Miwah system continues to reveal that it has the potential to be one of the more important gold discoveries in this exploration cycle and at a time when finding large gold deposits is rare."

EMD021 was drilled with a 250 degree azimuth and 50 degree dip to test the vuggy silica alteration northwest of EMD020, and finished at 200 metres downhole depth. The hole encountered visually altered and mineralized rock from 52 to 127 metres, followed by intermittent but predominantly vuggy/massive silica and silica/alunite alteration to the end of hole. Assays are pending.

EMD022 is progressing with a 190 degree azimuth and 70 degree dip to test the area immediately south of EMD001/002/003/018. The hole entered visually altered and mineralized rock at 5.7 metres depth. Surface rock sampling in this area gave 9.22 g/t gold over 14 metres, 6.62 g/t gold over 6 metres, and 2.5 g/t gold over 24 metres.

EMD023 has commenced with a due north azimuth and 50 degree dip to test the extension north from the high-grade gold mineralization encountered by EMD018 and EMD019, as well as testing the recently discovered underlying massive/vuggy silica layer in EMD018. (Refer to drill location map at www.EAminerals.com).

Miwah Background
The Miwah Gold Prospect was partially defined by approximately 3,100 metres of drilling in twelve holes by a previous explorer in 1997. All holes drilled during this program intersected significant alteration and mineralization with intercepts including 71 metres of 1.4 g/t gold and 58 metres of 1.1 g/t gold. The previous explorer suggested potential for 100 Mt at 1.1 to 1.2 g/t gold, however a review of the historical data indicates that early drilling was parallel to higher grade (greater than 5 g/t gold) structures at surface. Hence, in addition to greater mineralized tonnage, significantly higher overall grades are anticipated from better geological understanding, results of the Company's detailed sampling, and properly oriented drill holes.

Based on the Company's work Miwah is resolving into two components; a large 1,200 metre long, at least 300 to 400 metre wide, approximately 200 metre thick tabular zone; and vertical diatreme breccia feeder zones that are beneath and cut through this. At Miwah Gold Zones, East Asia has almost 2,500 metres of rock sawn channel samples which average 2.35 g/t gold. Grade expectations in Main Miwah Gold Zone exceed 1.5 g/t gold. Ongoing sampling verified the Company's confidence that higher overall gold grades can be achieved due to the presence of multiple high grade rock sawn channel samples throughout the strike, including 4.11 g/t gold over 200 metres at the eastern part of the Main Miwah Gold Zone, and 4.35 g/t gold over 27 metres at the western part. Recent drilling has supported this. In addition to the tabular zone the Company has begun to characterize some of the diatreme breccia feeder zones, with rock sawn channel samples including 83.59 g/t gold over 24 metres and 20.14 g/t gold over 12 metres. Recent drilling has supported this. These feeder zones have great potential to develop into substantial tonnages of higher grade gold mineralization in an area adjacent to the Main Miwah Gold Zone.

The Miwah Property is in a very similar volcanic setting to the Martabe gold-silver deposit, also located in North Sumatra (Purnama and Baskara resources: 127.8 million tonnes at 1.4 g/t gold (5.5 million ounces gold) and 15 g/t silver (60 million ounces silver), and the alteration system is of a comparable size. Miwah also exhibits a likeness to the size, style and geometry of the alteration system developed at the Pierina gold deposit in Peru (67.7 Mt grading 2.98 g/t gold and 22 g/t silver, giving a total 6.49 million ounces gold and 47.9 million ounces silver).

Samples reported were assayed at Intertek assay laboratories in Jakarta. Lionel Martin, P.Geo., the designated QP within the meaning of NI 43-101, has reviewed and approves the content of this release. East Asia has not verified the classification of the resource references and is not treating them as NI 43-101 defined resources verified by a QP. Although the references of resources are relevant to recognizing the potential of the Miwah project, they should not be relied upon.

About East Asia Minerals Corporation
East Asia Minerals (TSX VENTURE:EAS) is an Asian-based, Canadian mineral exploration company with gold and copper exploration properties in Indonesia, and uranium exploration properties in Mongolia. In Indonesia the Company has a 70 to 85% interest in six advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi. Two of these, the Sangihe (Binebase-Bawone) and Barisan 1 (Abong) gold projects, are being advanced to define NI43-101 compliant resources. The Company owns eight uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and two phosphate properties in Mongolia. East Asia currently has 71,455,372 shares outstanding. Its shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".

Forward Looking Statements - This News Release contains forward looking information within the meaning of the British Columbia Securities Act, the Ontario Securities Act and the Alberta Securities Act, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with our expectations, metal recoveries, accidents, equipment breakdowns, title matters and surface access, labour disputes or other unanticipated difficulties with or interruptions in production, the potential for delays in exploration or development activities or the completion of new or updated feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations (including uranium, fuel, steel and construction items), currency fluctuations, failure to obtain adequate financing on a timely basis and other risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. The words anticipate, believe, estimate and expect and similar expressions, as they relate to us or our management, are intended to identify forward looking statements relating to the business and affairs of the Company. Except as required under applicable securities legislation, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

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