East Asia Minerals Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 4, 2014) - East Asia Minerals Corporation (the "Company") (TSX VENTURE:EAS) announces an offering of units at CDN$0.015 per unit for the first tranche and CDN$0.01 per unit for the second tranche to raise up to US$500,000, which is estimated to be approximately CDN$568,650 and subject to exchange rate fluctuation. Each unit being offered consists of one common share of the Company and one share purchase warrant having a five year term following the grant of the share purchase warrant for the purchase of one further common share of the Company at the exercise price of CDN$0.05 per share for the first year and CDN$0.10 per share thereafter. Tocqueville Asset Management, L.P. ("Tocqueville") in its capacity as the investment adviser to a number of investment funds and managed accounts (collectively, the "Accounts"), will subscribe for the offering in two tranches. The first tranche of CDN$146,474 is expected to increase Tocqueville's holdings on behalf of the Accounts to 23,877,333 common shares representing 19.9% of the issued number of shares then outstanding. The second tranche to complete the placement up to US$500,000 is expected to increase Tocqueville's holdings on behalf of the Accounts to approximately 66,094,934 common shares equal to 40.75% of the issued shares based on current CDN:US exchange rates. Completion of the second tranche and the exercise of the share purchase warrants issued in connection with the first tranche will be subject shareholder approval of the "change of control" (as defined under the policies of the TSX Venture Exchange) that would result therefrom. The annual and special meeting of the shareholders has been called for January 2015.

The anticipated use of the proceeds from the first tranche of the offering (anticipated to be CDN$146,474) and the combined first and second tranche is as follows:

FIRST TRANCHE:

Description	Amount (Cdn$)
Land rent payables	94,700
Sangihe regulatory payments	9,000
Transfer agent	2,000
D&O Insurance	2,167
Employee expense reimbursement	9,000
Staff wages payable from prior months	5,333
Staff wages December 2014	2,667
Office rent & overhead Nov. and Dec. 2014	5,500
Camp costs Nov. & Dec.	11,500
Total	141,867
Gross proceeds	146,474
Unallocated working capital	4,607

COMBINED FIRST AND SECOND TRANCHE:

Description	Amount (Cdn$)
Land rent payables	94,700
Vendor payables - Canada	14,670
Vendor payables - Indonesia	10,250
Employee statutory payments	25,000
October payables	28,552
November 2014 to March 2015 monthly operating expenses	367,333
Total	540,505
Estimated proceeds	568,6501
Unallocated working capital	28,145
1 Based on the noon US:CDN conversion rate reported for December 4, 2014 by the Bank of Canada.

A finder's fee of a combination of cash and shares will be paid to an eligible finder in relation to this financing, all in accordance with regulatory policies.

This private placement is subject to approval by the TSX Venture Exchange.

East Asia Minerals Corporation

Edward C. Rochette, CEO

About East Asia Minerals Corporation

East Asia Minerals is an Asian-based, Canadian mineral exploration company with gold and copper exploration properties in Indonesia. The Company has a 70 to 85% interest in three advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi. Its shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".

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.