East Asia Minerals Corporation
TSX VENTURE : EAS

East Asia Minerals Corporation

November 27, 2007 08:54 ET

East Asia Minerals Drills More Uranium at Enger, Mongolia, and Summarizes 2007 Uranium Program Highlights

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 27, 2007) - East Asia Minerals Corporation (TSX VENTURE:EAS) reports it has intersected additional uranium mineralization in its follow-up drill program to promising assays encountered during the Company's 2006 drilling of its Enger project, located 150 kilometres southeast of Ulaanbaatar, Mongolia.

This second pass drill program was designed to continue fences drilled in 2006 and to explore for extensions to the uranium mineralization. Results from the Company's 2006 drilling confirmed and significantly improved on grades and widths of the mineralization reported by historical Soviet work, and demonstrated that the mineralization remains open to the east, west and at depth (reported June 26 and July 6, 2006).

Hole EN-2007-13 was collared 30 metres south along section and up-dip of EN-2007-11 which encountered 0.180% uranium over 9.3 metres, including 0.574% uranium over 2.0 metres, 0.143% uranium over 1.4 metres, and 0.282% uranium over 0.8 metres (reported November 7, 2007). Hole EN-2007-13 cut four mineralized intervals and remains open up-dip. The first zone is related to a narrow lignite seam in grey sediments, the second with a faulted contact between oxidized grey sediments and rhyolite breccia, and the third and fourth in fractured rhyolite. The section including EN-2006-12 also remains open down-dip.

Hole EN-2007-14 was collared in the southeast area of the mineralized zone to test the remaining up-dip extension to multiple and strong uranium intersections encountered along section EN-2006-01, 02 and 03 (June 26 and July 6, 2006 news releases). The hole encountered mineralization in rhyolite with 2% disseminated pyrite and closes the section up-dip (off section to the southwest). The mineralization continues down-dip and remains open to the north of this four-hole section.

The last hole of the 2007 follow-up program, EN-2007-15, was collared 30 metres south along section and up-dip of EN-2006-08 in the southwest area of the mineralized zone. Mineralization was encountered over 4 metres near the bedrock interface with overburden, at a fault contact between oxidized grey sediments and rhyolite breccia.



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Drill Hole From (m) To (m) Interval (m) Uranium (%)
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EN-2007-11 90.4 92.9 2.5 0.038
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And 104.5 113.8 9.3 0.180
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Incl. 105.2 107.2 2.0 0.574
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Incl. 107.8 109.2 1.4 0.143
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Incl. 111.8 112.6 0.8 0.282
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EN-2007-13 41.5 42.0 0.5 0.024
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And 47.0 49.0 2.0 0.067
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And 55.0 55.5 0.5 0.041
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And 57.5 59.5 2.0 0.041
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EN-2007-14 99.0 100.0 1.0 0.022
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EN-2007-15 23.0 27.0 4.0 0.028
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Incl. 23.0 26.0 3.0 0.033
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The above reported uranium mineralization remains open (refer to the Company's website at www.EAminerals.com for plan and section views of all drilling), and following detailed compilation further drilling will be proposed. Additionally, there remain two untested radiometric anomalies, in particular a south-southeast structural response extending from the current drilling area, and a localized strong radiometric response in the northeast quadrant of the property.

2007 URANIUM PROJECT HIGHLIGHTS

Ooshiin Govi

During January and February the Company completed first phase drilling of 15 holes confirming the continuation of the same radiometric anomaly that extends south from the (then) adjacent AREVA property where extensive drilling was conducted up to the property boundary. Drill results suggested a large body of unconsolidated sand hosted uranium mineralization with clay and lignitic intervals. Favourable porous host rock, sandwiched between impermeable strata, indicate the mineralization may be amenable to low cost ISL mining methods. Difficult ground conditions and poor sample recovery were experienced and there was concern of uranium grade dilution due to washing at the drill bit face. Assays were not reliable.

On September 21 the Company closed the sale of the Ooshiin Govi and other early stage uranium properties to AREVA for a cash payment of CAD$83 million. The transaction was facilitated through the sale of its wholly owned Mongolia subsidiary, EAM Energy LLC, and included the Bayan Uul, Elgenii, Ikh Khet and Airag-1 uranium tenements. On October 10 the Company announced a cash payment of CAD$1.30 per share to registered shareholders of East Asia as of the record date of October 19, 2007. This was subsequently paid out.

Ulaan Nuur

On May 30 the Company announced signing an agreement to acquire 100% of the Ulaan Nuur uranium property. Ulaan Nuur hosts a partially defined, potentially significant deposit of stratiform sandstone hosted uranium mineralization. Based on limited historical drilling, the Soviets calculated a P2 category resource of 10,000 tonnes (22 million pounds) of contained uranium (May 3, 2007 news release). The historic Ulaan Nuur data also provided East Asia with evidence that the Project contains a potential ISL (in situ leach) environment. The data reports that the "lower productive horizon" is hosted entirely within uniformly shallow dipping and permeable sandstone, between an overlying clay horizon and an unconformably underlying conglomerate, which in turn overlies Proterozoic granite gneiss.

During the fall four validation holes were drilled. In addition to the Company's down-hole radiometric results validating the historic Soviet data, the assay correlation was strong. East Asia's drilling encountered four tabular, lens-like mineralized bodies, 150 to 300 metres wide, 50 to 100 metres long and from 0.1 to 7.65 metres thick, containing 0.017% to 0.205% uranium. The mineralization remains open along strike and down dip. As with the Soviet data, there is strong correlation between drill holes along section.



Assay highlights are as follows:
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Drill Hole From (m) To (m) Interval (m) Uranium (%)
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UN001 90.0 91.0 1.0 0.017
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UN002 28.8 32.9 4.1 0.024
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And 38.5 41.1 2.6 0.020
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And 144.1 144.6 0.5 0.174
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And 145.8 146.4 0.6 0.033
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And 164.6 167.9 3.3 0.022
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And 212.4 213.5 1.1 0.141
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And 215.7 216.2 0.5 0.205
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UN003 257.5 258.8 1.3 0.029
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And 263.9 264.7 0.8 0.177
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UN004 222.5 223.8 1.3 0.095
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Ingiin-Nars

On July 3 the Company announced signing an agreement to acquire 100% of a tenement containing a portion of the Ingiin-Nars Uranium Deposit. The main Ingiin-Nars Deposit contains a Soviet-era, P1 category resource of approximately 1,000 tonnes (2.2 million pounds) of contained uranium (July 3, 2007 news release). Based on Soviet-era drilling, the Ingiin-Nars Deposit continues northeast into the East Asia property where it remains open along strike. The Soviet data also suggests the presence of another mineralized body that may be as large, or larger, than the drilled portion of Ingiin-Nars. The uranium mineralization is stratiform sandstone hosted and reported to be amenable to in-situ leach (ISL) recovery.

During the summer four validation holes were drilled at the Ingiin-Nars project. The Company's geological and down-hole radiometric results clearly validated the historic data, encountering the stratigraphy and radioactive horizons reported in the Soviet drill logs. East Asia intersected multiple mineralized intersections within three main horizontally lying horizons, below 160 metres depth. The mineralization occurs in sandstone and clay units, and fine to medium grained, unconsolidated sand with organic detritus. Most of mineralization was washed out in the drilling process.

In addition, 10 kilometres to the north-northeast along the mineralized trend from the drilling area, rock chip assays confirmed the potential of a surface anomaly detected by recent detailed radiometric mapping (August 1, 2007 news release). The anomaly, roughly one by one kilometre, assayed up to 0.05% uranium from carnotite mineralized outcrop in an area not drill tested. A second radiometric anomaly, roughly five by two kilometres, is in the northwest area of the property at what is interpreted as the contact between bedrock and Quaternary sediments.

Commenting on the 2007 uranium program, Michael Hawkins, President and CEO of East Asia Minerals, stated "we are extremely pleased on many fronts. The sale of EAM Energy to AREVA is absolute validation of East Asia's ability to capture opportunities in a competitive market, and has allowed us to return great value to our shareholders early in the life of the Company. At the same time, we are excited that our initial programs at the Ingiin Nars and Ulaan Nuur projects have validated the historic Soviet reporting of significant in-situ-leach amenable uranium mineralization at both properties. With the AREVA transaction providing the capital required to continue the Company's aggressive exploration, acquisition and growth strategy, we will build on these assets and also with the continued excellent grades coming out of our second pass drilling at Enger".

Samples reported were assayed at ACTLABS in Ulaanbaatar, Mongolia. Lionel Martin, P.Geo., the designated QP within the meaning of 43-101, has reviewed and approves the content of this release. EAS has not verified the classification of the historic resource references and is not treating them as a NI 43-101 defined resources verified by a QP. Although these historical references of resource potential are relevant to recognizing the potential of the East Asia Properties, they should not be relied upon.

About East Asia Minerals Corporation

East Asia Minerals is an Asian-based, Canadian mineral exploration company with uranium, gold and copper assets in Mongolia and Indonesia. The Company owns the Ingiin-Nars, Ulaan Nuur and Enger uranium properties and a 75% interest in the Khok Adar copper oxide discovery in Mongolia. In Indonesia, it has a 70 to 85% interest in five advanced gold and gold-copper projects located in Aceh Province in Sumatra and North Sulawesi. East Asia currently has 55,185,372 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 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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