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| | September 26, 2006
East Asia Minerals Earns a 75% Interest in the Khok Adar Copper Project
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| | VANCOUVER, B.C. -- September 26, 2006 -- East Asia Minerals Corporation (TSXV-EAS) is pleased to report that it has fulfilled its US$1,000,000 exploration expenditure obligation and finalized the Khok Adar joint venture agreement in western Mongolia with Kainar Co., a Mongolian Company. Under the terms of the agreement, EAS now has a 75% interest in the project which hosts four identified copper zones and several copper anomalies within the 145,352 hectare property. Kainar Co., the original property owner, holds a 25% interest which is carried through to final feasibility. EAS will recover all the carried costs paid on behalf of its joint venture partner from production.
The Company also reports that it has entered into a private placement with Kainar Co., it's joint venture partner in regard of the Khok Adar property for 285,513 shares at the price of CAD$0.39 per share for a total of CAD$111,350. The proceeds of this offering will be used for working capital.
About East Asia Minerals Corporation
East Asia Minerals, an Asian-based Canadian mineral exploration company, is finalizing due diligence on four advanced gold and copper-gold project MOUs in Indonesia and has on-going acquisition targets in the East Asia Region. The Company has a 75% interest in the Khok Adar copper oxide discovery in Mongolia and has options to acquire 100% interest in a Mongolian portfolio of uranium properties. East Asia currently has 42,805,206 shares outstanding. The Company's shares are listed for trading on the TSX Venture Exchange under the symbol "EAS".
FOR FURTHER INFORMATION, visit the Company's website at www.EAminerals.com, or contact:
Lyndon Bradish, President and CEO T: +852 2719-1551 (Hong Kong)
E: [email protected]
Nick Kohlmann, Corporate Communications T: +1-416-792-8734 (Toronto)
E: [email protected]
To receive Company news via email, please email [email protected] and specify "EAS News" in the subject line.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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