East Asia Minerals Corporation

East Asia Minerals Corporation

March 08, 2010 08:00 ET

East Asia Receives Indonesia Government Approved IUP "Mining Licence" Confirming Tenure of Barisan II Under New Mining Law

VANCOUVER, BRITISH COLUBMIA--(Marketwire - March 9, 2010) - East Asia Minerals Corporation (TSX VENTURE:EAS) reports that in addition to the previously announced receipt of the Aceh Province Miwah, Barisan I and Takengon Ijin Usaha Pertambangan (IUP "Mining Licences"), the Company has received formal documents from the Directorate General of Mineral, Coal and Geothermal confirming the finalized conversion of its Aceh Province Barisan II tenement to IUP.

The Barisan II tenement encompasses a cluster of six known porphyry centers within a 6.2 kilometre by 3 kilometre block (view map at www.EAminerals.com). At the Upper and Lower Tengkereng areas, two windows of similar porphyry gold-copper mineralization, located about 1.5 kilometres apart, are exposed through shallow inter-bedded sedimentary and volcanic cover rocks and may be linked at depth. Geological features observed in drill core from Upper Tengkereng and surface outcrops at Lower Tengkereng confirm that these systems share many features of the world's best gold-rich porphyry copper deposits in the circum-Pacific rim.

Exploration by East Asia Minerals at the Lower Tengkereng project has provided confidence to improve on grades from the limited historic drilling. Surface channel sampling by East Asia at Lower Tengkereng, including 31 metres of 0.77 g/t gold plus 0.03% copper and 116 metres of 0.33 g/t gold plus 0.04% copper, confirms the presence of gold-rich porphyry mineralization (see March 2, 2009 news release). These results are significantly better than the historical drill intercepts from the upper 90 metres of the Lower Tengkereng porphyry system, beneath which 339 metres of 0.5 g/t gold plus 0.2% copper were encountered. Historic drill and current surface results at Lower Tengkereng are also better than results from Upper Tengkereng located 1.5 kilometres northeast (See December 1, 2008 news release). At Upper Tengkereng East Asia drilled a 646.25 metre hole averaging 0.39 g/t gold plus 0.21% copper (0.68 g/t gold equivalent(i)), including 268 metres of 0.57 g/t gold plus 0.26% copper (0.92 g/t gold equivalent(i)) from 318 to 586 metres. Significant near surface gold mineralization was also intercepted, including 14 to 82 metres (68 metres) of 0.51 g/t gold plus 0.21% copper (0.80 g/t gold equivalent(i)).

At the Bahu project an area of porphyry gold mineralization and alteration has been defined over a 1.6 by 0.9 kilometres area. This project has not been previously drilled. Channel sampling of intense quartz vein stockwork (in excess of 20% quartz vein density) has encountered 30 metres at 0.71 g/t gold with 0.034% copper, 36 metres at 0.65 g/t gold with 0.031% copper, 40 metres at 0.59 g/t gold, and 46 metres at 0.75 g/t gold with 0.027% copper.

Michael Hawkins, President and CEO of East Asia Minerals Corporation commented "The Barisan II IUP gives us excellent long term security of tenure and fiscal stability for this important porphyry gold-copper belt. We are near drill stage at two of these porphyries, the Bahu and Lower Tengkereng, where we see tremendous potential to add further value to the Company."

(i)The Upper Tengkereng gold equivalent used a copper to gold ratio of 1:1.36 (1% copper = 1.36 gm gold); based on then current metal market prices, and assuming total recoveries of both metals.
East Asia 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.

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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