East Asia Minerals Corporation

East Asia Minerals Corporation

September 10, 2009 07:51 ET

East Asia Minerals Drills 4.81 g/t Gold Over 30 Metres Within 100 Metres Grading 2.11 g/t Gold From 400 Metre Step-Out at Main Miwah Gold Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2009) - East Asia Minerals Corporation (TSX VENTURE:EAS) reports that assays have been received for the fifth diamond drill hole at the Main Miwah Gold Zone in Aceh Province, Northern Sumatra, Indonesia. The drill core intersection is located 400 metres east of the exceptional gold assays encountered in holes EMD001 to 003, and provides compelling support for the interpretation of shallow out-flowed, laterally extensive gold mineralization along the 1.2 kilometre long Main Miwah Gold Zone. New drill hole EMD008 encountered 2.11 g/t gold over 100 metres, including 4.81 g/t gold over 30 metres.

EMD008 is the Company's first drill hole in the eastern part of the laterally extensive gold system. EMD008 was collared 400 metres east of the EMD001 drill pad with an east-southeast azimuth (115 degrees) and 55 degree dip, and was drilled to 211 metres. Gold mineralization was encountered from 85.0 to 185.0 metres downhole depth, including 4.81 g/t gold from 85.0 to 115.0 metres (silver grades 6.31 g/t over this interval, providing a 4.92 g/t gold equivalent(i)). This hole was designed to test an area where rock sawn channel sampling returned consistently strong gold mineralization averaging 4.11 g/t gold across a 200 metre long, semi-continuous channel (news release January 21, 2009). Sections of this 200 metre zone include 20 metres of 14.00 g/t gold, 10 metres of 3.70 g/t gold, 32 metres of 2.41 g/t gold and 20 metres of 1.45 g/t gold. The mineralization in EMD008 is open in all directions and at depth, and is interpreted to be contiguous to the strong surface gold mineralization.

EMD008 was also collared 90 metres higher in elevation than the EMD001 to 003 drill pad, and supports the Company's interpretation of a laterally extensive, sub-horizontal layer, grading 3 to 4 g/t gold in the higher levels of the mineralized system. The high-grade 4.81 g/t gold portion commences at 85 metres and correlates laterally to the higher grades commencing near-surface at the lower elevation EMD001 to 003 drill area (EMD002 encountered 1.71 g/t gold over 158.0 metres, including 3.29 g/t gold over 66.0 metres starting at 9 metres depth; and EMD003 encountered 2.25 g/t gold over 142.9 metres, including 4.31 g/t gold over 51.0 metres starting at 11 metres depth). Interpreted from EMD004 (1.37 g/t gold over 64.4 metres), the Company's rock sawn surface channel sampling, and historic drilling, the lower part of the Main Miwah gold system contains 1 to 1.5 g/t gold within a broad sheet-like and flat-lying mineralized system. EMD004 was collared from a pad located to the southwest of holes EMD001-003, more than 90 metres in distance and 60 metres lower in elevation.

EMD009 was drilled from the same pad as EMD008 with a west-southwest azimuth (245 degrees) and 55 degree dip, and completed at 206 metres downhole depth. This hole was designed to test the extension of favourable mineralization and alteration to the west of EMD008, where surface rock sampling gave 14 metres of 2.55 g/t gold. Assays are pending.

EMD010 is in progress, drilled from the same pad as EMD008/009 with a south-southeast azimuth (150 degrees) and 65 degree dip. This hole is designed to confirm the sub-horizontal gold mineralized layer between EMD008 and 009.

"We are extremely encouraged by the continuity, width and tenor of mineralization at the Main Miwah Gold Zone", stated Michael Hawkins, President and CEO of EAS. "The gold mineralization intersected by East Asia Minerals to date provides drill validation of more than 500 metres strike length along the known 1,200 metres long Main Miwah gold-bearing silica zone. This zone has been defined by more than 2 kilometres of rock sawn gold-bearing channel samples. The remainder of the phase one program intends to extend the drill validated strike to 1,200 metres. Not only have we achieved 3D validation of the potential for a large and laterally extensive gold deposit at the Main Miwah Gold Zone, we have also demonstrated the potential for significantly higher overall grades due to the presence of a 3 to 4 g/t gold layer in the higher levels of the system."

Miwah Background

The Miwah Gold Prospect was partially defined by approximately 3,000 metres of drilling in eleven 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, 300 to 400 metre wide, approximately 200 metre thick tabular zone; and vertical diatreme breccia feeder zones that are beneath and cut through this. Within the tabular zone East Asia has over 2,000 metres of rock sawn channel samples which average 1.2 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 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 Intertech 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.

(i) The gold equivalent uses a silver to gold ratio of 60:1 based on current precious metal market prices, and assuming total recoveries of both metals.

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 eleven uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, four phosphate properties, and a 75% interest in the Khok Adar copper oxide discovery in Mongolia. East Asia currently has 66,014,122 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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