East Asia Minerals Corporation
TSX VENTURE : EAS

East Asia Minerals Corporation

July 22, 2011 08:30 ET

East Asia Minerals Provides Additional Information on Shareholder Eligibility for Barisan Gold Corporation Dividend

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 22, 2011) -

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES

East Asia Minerals Corporation (TSX VENTURE:EAS) is pleased to provide additional information to shareholders of record on July 21, 2011 ("Record Date") with regards to the distribution of the special dividend-in-kind of all of the shares in Barisan Gold Corporation held by East Asia Minerals and the subsequent offering of rights in Barisan.

Barisan Gold has filed an amended and restated preliminary prospectus dated May 9, 2011 in each province and territory of Canada excluding Quebec, and a preliminary prospectus dated May 9, 2011 in Quebec. These prospectuses are available on SEDAR under Barisan Gold's profile. Barisan expects to file a final prospectus relating to the distribution of the dividend-in-kind on or about August 9, 2011. The TSX Venture Exchange ("TSXV") has conditionally approved the listing of the Barisan Gold common shares and rights issued pursuant to the prospectus under the symbol "BG", subject to customary listing conditions. The final prospectus will be available on SEDAR under Barisan Gold's profile. Copies of the final prospectus will also be mailed to eligible East Asia Minerals shareholders of record on the Record Date soon after the final prospectus is filed and receipted by the applicable Canadian securities regulatory authorities.

The Barisan Gold securities qualified for distribution under the prospectus (the "Barisan Securities") will not be issued to shareholders who are resident in or subject to the laws of jurisdictions identified by East Asia Minerals, based on its latest available records, to be ineligible jurisdictions, including the United States of America, United Kingdom, France, Germany, Netherlands, Argentina, Australia, New Zealand, Hong Kong, Singapore, China, and Japan (the "Ineligible Jurisdictions"), except as set out in the prospectus.

Computershare Investment Services Inc. ("Computershare"), earlier today, mailed out a letter and declaration of eligibility form ("Declaration of Eligibility") to each shareholder who, according to the latest available records of East Asia Minerals, has an address in an Ineligible Jurisdiction. A shareholder in an Ineligible Jurisdiction may be deemed by East Asia Minerals to be ineligible to receive the Barisan Securities (an "Ineligible Shareholder"), unless such shareholder (1) satisfies certain requirements in the Declaration of Eligibility to the satisfaction of East Asia Minerals, in its sole discretion; and (2) returns a properly completed Declaration of Eligibility to Computershare on or before August 5, 2011. Ineligible Shareholders who fail to provide a Declaration of Eligibility on or before August 5, 2011 by fax, email, courier or mail to the number, email address or mailing address set out in the Declaration of Eligibility may be deemed to be ineligible to receive shares and rights in Barisan Gold. Please refer to the prospectus for details. Shareholders in Ineligible Jurisdictions, who hold their shares of East Asia Minerals through a brokerage or other account are therefore urged to contact their brokers regarding the completion of the Declaration of Eligibility to avoid being deemed Ineligible Shareholders. Please refer to the prospectus and, the letter and the Declaration of Eligibility (which is posted on East Asia Minerals' website at www.eaminerals.com) for further details.

All shares and rights of Barisan Gold for Ineligible Shareholders will not be delivered to such Ineligible Shareholders but instead will be delivered to Computershare as custodian and agent for these shareholders. Computershare will cause to sell these shares and rights and the proceeds, after deducting fees and imposing appropriate withholding taxes, will be sent to the Ineligible Shareholders.

If you have any questions with regards to whether your jurisdiction is eligible or not, whether you should expect to receive a Declaration of Eligibility and/or how to fill in the form of Declaration of Eligibility, please contact East Asia Minerals' investor relations team:

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The Barisan Securities to be distributed have not been approved or disapproved by any Canadian or U.S. regulatory authority nor has any such authority passed upon the accuracy or adequacy of the preliminary prospectus. The Barisan Securities will not be distributed in any state or jurisdiction, including the United States, if an offer, a solicitation of an offer to buy, or a sale of the Barisan Securities would be unlawful absent registration or qualification under the securities laws of any such state or jurisdiction. Any public offering of securities to be made in the United States can only be made pursuant to an effective registration statement. The Barisan Securities have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and East Asia Minerals and Barisan Gold have no intention of filing such a registration statement in connection with the distribution of the Barisan Securities. Accordingly, shareholders of East Asia Minerals who are resident in the United States or who are U.S. persons (as defined in Rule 902 of Regulation S under the U.S. Securities Act) will not be entitled to participate in the dividend-in-kind of the Barisan Gold common shares and the subsequent rights offering of the Barisan Gold rights, except as set out above and in the prospectus of Barisan Gold.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The shares and the rights to be distributed have not been approved or disapproved by any Canadian or U.S. regulatory authority nor has any such authority passed upon the accuracy or adequacy of the preliminary prospectus.

To receive or stop receiving EAS news via email, please email info@eaminerals.com and state your preference in the subject line.

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. The Company owns seven uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and two phosphate properties in Mongolia. East Asia currently has 81,412,372 shares outstanding. Its shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".

Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. When used in this News Release, such statements use words such as "may", "will", "expect", "intend", "anticipate" and other similar terms. These statements reflect management's current assumptions and expectations regarding future results, performance or events as of the date hereof and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Forward looking statements involve significant risks and uncertainties and should not be read as guarantees of future or performance results. Accordingly, readers should not place undue reliance on any forward looking statement.

Forward looking statements in this News Release include, among other things, statements regarding the proposed internal reorganization, dividend-in-kind and rights offerings, and the proposed terms, conditions, structure and consequences thereof to the Company and its security holders; the timing and receipt of approvals and consents; future exploration activities; and the adequacy of financial resources, among others.

Forward looking statements are based on assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made. The Company believes that the assumptions and expectations reflected in such forward looking statements are reasonable. Assumptions have been made regarding, among other things, the Company's ability to reorganize its properties and interests to permit it to carry out the proposed transactions in an effective and reasonable manner; the Company's future exploration and development activities; timely receipt of third party or regulatory approvals; and the Company's ability to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used and that these factors and assumptions may be incomplete or incorrect.

Forward looking statements are also subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward looking information. Those risks include 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; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, permitting and licensing risks; and general market and mining exploration risks.

Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision.

Caution Regarding U.S. Publication of Information in this News Release
The information contained herein is not for publication or distribution into the United States. The materials set forth herein is for informational purposes only and is not intended, and should not be construed as, an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the laws of any state, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws.

There is no intention to register any portion of the securities to be distributed pursuant to the proposed transactions in the United States or to conduct a public offering of securities in the United States.

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.

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