TORONTO, ONTARIO--(Marketwire - July 26, 2012) - East Asia Minerals Corporation (TSX VENTURE:EAS) ("EAS" or the "Company") is pleased to announce the appointment of Dave Anthony as Chief Operating Officer of East Asia Minerals Corporation.
Mr. Anthony will be first and foremost responsible for the development of the Miwah Gold project, located in Indonesia. EAS is the holder of 85% of the rights to the Miwah project, a potential world class gold project in Indonesia. Mr. Anthony has more than 30 years of engineering and environmental experience in the mining industry. Recently, he worked with Barrick Gold Corp. as Chief Operating Officer, responsible for African Barrick Gold (ABG) Mines & Capital Projects. He also has held general management positions with Barrick's gold and copper operations in Tanzania, directing the design, commissioning and operation of greenfield projects. Mr. Anthony also completed designs for mining companies across the globe while a senior metallurgist for SNC-Lavalin Engineers & Constructors Ltd., a leading Toronto-based engineering and construction group. Mr. Anthony is a graduate of Queens University and holds a Bachelor of Science in Mining Engineering.
The Company wishes to announce that Alex Granger will step down as President of the Company at the end of this month, but will continue to contribute his financial and operational expertise as a consultant to East Asia Minerals.
Edward Rochette Chairman and CEO of East Asia Minerals, stated: "We are pleased that Dave Anthony has joined East Asia Minerals. Dave's wealth of experience in the mining industry will be accretive to East Asia's strong, new management team. We look forward to working with him in his new role as we move the Company forward. We would also like to thank Alex Granger for his hard work and efforts as President and look forward to continued contributions from him in his new role."
East Asia Minerals is also pleased to announce that the Company has recently signed an agreement with SGMS, an Indonesian based company, to conduct engineering studies on both the Miwah and Sangihe projects. The Company has commissioned these early stage studies for internal use to assist management in evaluating the next stages of the projects and its strategy going forward. Management looks forward to receiving the results by the end of August, 2012.
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 three advanced gold and gold-copper properties located in Aceh Province, Sumatra, and Sangihe Island, North Sulawesi. The Company owns nine uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and two phosphate properties in Mongolia. Its shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".
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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. 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 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 future exploration and development activities; anticipated timing with respect to the completion of additional engineering testing; the impact of the appointment; 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. 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.
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