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| | August 06, 2010
Northern Miner Apologizes to East Asia and Retracts Incorrect Statements
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| | For Immediate Release, August 6, 2010 TSXV: EAS
VANCOUVER, B.C. -- Friday, August 6, 2010 -- East Asia Minerals Corporation (TSXV-EAS), a Canadian mineral exploration company with its head office in Vancouver, reports that today the Northern Miner apologized for and gave regrets for any embarrassment, inconvenience or damage resulting from publication of their incorrect reporting on the Company.
The Northern Miner posted on their website the following statements;
"In the online story "East Asia Minerals unresponsive about protected forest issue" published on July 29, 2010, we incorrectly stated that East Asia Minerals had not disclosed to its shareholders that a large portion of its tenements in Indonesia is on land designated as protected forest.
In fact, the company wrote in its August 2007 information circular to shareholders that "almost the entire Miwah tenement is in Protected Forest Area" and that "a special permit from the Indonesian Department of Forestry is required to conduct exploitation in such an area."
As such, there is no imputation whatsoever by The Northern Miner that any management or directors of East Asia Minerals personally benefited from withholding this information from shareholders.
While it's widely agreed that Indonesia has its challenges with respect to corporate governance, there is also no imputation that a company must engage in illegal activities in order to acquire a special exploitation permit in a protected forest in Indonesia.
A similar correction notice will appear in the next paper issue of The Northern Miner, vol. 96, no. 26.
We apologize for and regret any embarrassment, inconvenience or damage resulting from publication of the story."
About East Asia Minerals Corporation
East Asia Minerals (EAS-TSXV) 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. Two of these, the Sangihe (Binebase-Bawone) and Barisan 1 (Abong) gold projects, are being advanced to define NI43-101 compliant resources. The Company owns eight uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger uranium projects, and two phosphate properties in Mongolia. East Asia currently has 75,503,372 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 British Columbia Securities Act, 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.
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.
To receive or stop receiving EAS news via email, please email [email protected] and state your preference in the subject line.
FOR FURTHER INFORMATION, visit the Company's website at www.EAminerals.com, or contact:
Michael Hawkins, President and CEO Vancouver T: +1-604-684-2183 E: [email protected]
Nick Kohlmann, Corporate Communications Toronto T: +1-416-792-8734 E: [email protected] |
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| | You can view the Next News Releases item: Tue Aug 10, 2010, East Asia Intercepts 0.4 g/t Gold, 0.2% Copper Over 415.1 Metres, Ending in 0.5 g/t Gold, 0.2% Copper Over 279.4 Metres at Lower Tengkereng Porphyry Project
You can view the Previous News Releases item: Thu Aug 5, 2010, East Asia Minerals Serves Libel Notice On Northern Miner -- Vancouver-Based Company Demands Apology and Correction
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