Eurasian Minerals Inc.
TSX VENTURE : EMX

Eurasian Minerals Inc.

October 23, 2006 08:30 ET

Eurasian Minerals Inc.: Gold-Silver Enriched Epithermal Systems Confirmed at La Miel and La Mine Projects in Haiti

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 23, 2006) - Eurasian Minerals Inc. (the "Company" or "EMX") (TSX VENTURE:EMX) is pleased to announce encouraging exploration results from initial reconnaissance level geological mapping and geochemical sampling programs at the La Miel and La Mine gold projects in Haiti. These results confirm that both properties host high sulfidation epithermal systems with enriched levels of gold, silver, and copper mineralization and include a rock channel sample interval from La Miel of 18 meters grading 3.00 g/t gold. The geology and mineralization of La Miel and La Mine are similar to that found at the world-class Pueblo Viejo gold-silver deposit in the neighboring Dominican Republic.

La Miel Project

The 278.38 square kilometer La Miel property is located near the border with the Dominican Republic, and covers a 35 km long segment of the prospective Massif du Nord geologic terrain. Historic United Nations Development Program (UNDP) work summarized in 1980 identified three areas of alteration and anomalous gold mineralization. The alteration signatures of these areas are characteristic of high sulfidation epithermal systems, including argillization, brecciation, and silica cap development. Reconnaissance field mapping and geochemical sampling at La Miel has confirmed and expanded the areas of alteration and gold mineralization defined by the UNDP.

EMX's sampling has delineated a 15 square kilometer area hosting strongly anomalous gold-silver mineralization within altered and brecciated volcanic rocks. EMX's work totals 147 channel, grab, and float rock samples. A total of 109.6 meters of channel sampling at various outcrop locations on the property returned gold assays ranging from 0.001 to 6.82 g/t, and averaging 0.79 g/t gold. Channel sampling of the discovery outcrop mineralized zone yielded a continuous interval of 18 m averaging 3.00 g/t gold (individual 2 m channel samples ranged from 0.88 to 6.82 g/t gold), with a higher-grade subinterval of 10 m averaging 4.45 g/t gold. This zone remains open in all directions due to surrounding soil cover. In addition to the above samples, 101 rock grab samples from limited outcrop exposure and nearby float elsewhere on the property have yielded seven gold assays greater than 1 g/t gold, with assays up to 26.6 g/t gold and 345 g/t silver.

La Mine Project

The 99.5 square kilometer La Mine property is located approximately 50 km west of the port city of Cap Haitien, and in the western region of the Massif du Nord terrain. The property hosts epithermal and porphyry-style mineralization initially identified and sampled by the UNDP. EMX's work at La Mine confirms the targets delineated by the UNDP.

Reconnaissance exploration to date consists of geologic mapping and 15 rock grab samples that returned anomalous levels of gold, silver, and copper mineralization. The gold assays averaged 0.71 g/t, and one sample taken from a silica cap outcrop returned 6.49 g/t gold and 238 g/t silver. Another silica cap sample yielded 0.30% copper, 2.49 g/t gold, and 40.4 g/t silver. Mapping has delineated over 500 meters of vertical extent and 1.7 km of strike length to the high-sulfidation epithermal alteration, and suggests that La Mine has the potential to host a significant gold, silver, and copper mineralized system.

EMX Follow-up Program

EMX's initial surface exploration results from La Miel and La Mine clearly demonstrate the presence of extensive epithermal gold-silver-copper enriched systems. EMX is systematically collecting additional rock samples, to further define the areas of outcropping mineralization. Soil geochemical surveys will be completed to define covered targets for trenching. The mapping and geochemical results will be utilized to delineate targets for drilling.

Corporate Update

The Company is pleased to announce the appointment of Mr. William Sheriff to the board of directors. He has over 25 years of mineral industry experience as a geologist and businessman, with an established reputation as a successful independent prospect developer and entrepreneur. Mr. Sheriff is President of privately held Platoro West Inc., a western U.S. based minerals exploration and prospect generation company he founded in 1985. He is also the President of Pacific Intermountain Gold Corporation, a Nevada advanced gold project company owned by Seabridge Gold Corporation (TSX:SEA)(AMEX:SA). In addition, Mr. Sheriff's western U.S. uranium property portfolio provided the nucleus for co-founding Energy Metals Corporation (TSX:EMC) in 2003, a company which has grown into an industry leading uranium property explorer and mine developer with a current market capitalization of over $400 million CDN. In addition to Mr. Sheriffs newly appointed position on EMX's board, he also serves on the board of directors for EMC and Pan Nevada Gold Corporation (TSX VENTURE:PNV).

The Company also reports that Mr. Borden Putnam has resigned from the Board of Directors. The Company thanks Mr. Putnam for his valued input while serving on the board, and wishes him well in his future endeavors.

Comments on Sampling, Assaying, and QA/QC

EMX's geochemical samples were collected in accordance with accepted industry standards and procedures. The samples were submitted to the ISO 9001:2000 accredited ALS Chemex laboratories in Reno, Nevada and Vancouver, Canada for analysis: gold was analyzed by fire assay with an AAS finish, and multi-element analyses were determined by ICP MS/AAS techniques. EMX conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays.

Mr. Keith A. Laskowski, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed and verified the technical information contained in this news release.

Forward-Looking Statement

Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Eurasian Minerals Inc. Actual results may differ materially from those currently anticipated in such statements.


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information