East Asia Minerals Corporation - News Releases - East Asia Minerals Acquires Drilled Uranium Resource at Ingiin-Nars Uranium Deposit




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	July 03, 2007 East Asia Minerals Acquires Drilled Uranium Resource at Ingiin-Nars Uranium Deposit
	For Immediate release, July 3, 2007 TSXV: EAS VANCOUVER, B.C. -- Tuesday, July 3, 2007 -- East Asia Minerals Corporation (TSXV-EAS) is pleased to announce that it has acquired 100% of a tenement containing a portion of the Ingiin-Nars Uranium Deposit in Mongolia. Based on Soviet-era drilling and trenching, the Ingiin-Nars Deposit continues northeast into the East Asia property where it remains open along strike. More drilling will be required to quantify the portion contained by the East Asia property and to determine the full extent of the strike distance. The uranium mineralization is stratiform sandstone hosted and reported to be amenable to in-situ leach (ISL) recovery. A location map of East Asia's Mongolian uranium projects and property map for the Ingiin-Nars Project are posted at www.EAminerals.com. The known Nars uranium mineralization, including both the Ingiin and the Mys deposits, is traceable at surface for 11 kilometres. The discovery was made approximately 500 kilometres SSE of Ulaanbaatar during Soviet exploration in 1978. The main Ingiin Deposit contains a Soviet-era, P1 category drilled resource of approximately 1,000 tonnes (2.2 million pounds) of contained uranium (U.V. Toitskii and V.A. Kaldishkin, 1978-1990, Geological Report No. 2428, "Report on prospecting-estimation work in Dornogobi Aimag"). The grade averages 0.042% U, calculated on an average thickness of 3 metres and cut off grade of 0.02% U, representing a deposit of approximately 2.4 million tonnes. The average grade of non-category drill intercepts is 0.052% U. Soviet-era drilling on East Asia's portion of the Ingiin Deposit includes four sections with several intersections of 0.023 to 0.068% U up to 7 metres thick. Mineralization at Ingiin is sub-horizontally dipping, strata-discordant stack or roll-front type, and occurs at a depth of 180 to 480 metres over a 100 to 400 metre wide zone, extending for 4.5 kilometres. The mineralization is hosted by a 30 to 110 metre thick sequence of poorly consolidated sand and gravel beds, inter-bedded with impermeable horizons of clay and argillaceous silt; amenable to an ISL setting. This mineralization remains open to the immediate northeast of the drilled resources at the main Ingiin Deposit, where Soviet-era data suggests the presence of another mineralized body that may be as large, or larger, than the drilled portion of Ingiin-Nars. Commenting on the Ingiin-Nars acquisition, Michael Hawkins, President of East Asia Minerals, stated "We are extremely pleased to have brought another high quality uranium property into our Mongolian portfolio. Based on our current understanding, both the Ingiin-Nars and Ulaan Nuur are as valuable, or more, than our exciting Ooshiin Govi play. That we continue, in a very competitive market, to acquire such quality projects is demonstration of the EAS management team's capacity to quickly build shareholder value." East Asia acquired the highly sought after Ooshiin Govi tenements, which are adjacent to ground being aggressively explored by Areva, a world leading uranium company, in late 2006. During the winter of 2007 drilling by East Asia proved a high potential ISL uranium target at Ooshiin Govi. In May, 2007 the Company acquired the Ulaan Nuur project with a Soviet P2 resource of 22 million pounds of contained uranium (May 3, 2007 news release). The additional acquisition of P1 Soviet category uranium metal at Ingiin-Nars further exhibits the Company's unique ability to acquire, at minimal cost, extremely valuable properties by using its competitive understanding of prospective mineral environments and strong business networks. East Asia ground work, including radiometric surveying, mapping and identification of the Soviet-era drill holes, is in progress at Ingiin-Nars. A similar program will be carried out at Ulaan Nuur. A drill contract has been signed and drilling is expected to commence during July, starting with Ingiin-Nars, followed by Ulaan Nuur, Enger and Ooshiin Govi. Phase One drilling at Ingiin-Nars and Ulaan Nuur is designed to validate the uranium deposits outlined by the historic Soviet work. Drilling at Enger will follow-up strong uranium grades that EAS encountered during 2006 drilling, including 2.5 metres of 0.232% U3O8 in hole ENDD002, 2.5 metres of 0.410% U3O8 metres in ENDD003, and 13.5 metres of 0.108% U3O8 in hole ENDD005. The mineralization was not closed off (June 6 and July 6, 2006 news releases). For the Ooshiin Govi project, data compilation and preliminary geological modelling have been completed. The Company is finalizing a work plan and budget to follow on the positive results of the Phase One drill program competed during February of this year, immediately adjacent to an area of close-spaced systematic drilling by Areva. The East Asia drill results indicate a large body of unconsolidated sand hosted uranium mineralization with clay and lignitic intervals. The drill program successfully validated an extensive and laterally continuous redox front, and anomalous radioactivity at this front and beneath the water table. Favourable porous host rock sandwiched between impermeable strata, and an extensive size potential suggest the mineralization may be amenable to low cost ISL mining methods (February 14 and March 12, 2007 news releases). Lionel Martin, P.Geo., the designated QP within the meaning of 43-101 has reviewed and approves the content of this release. East Asia has not verified the classification of the historic resource references and is not treating them as NI 43-101 defined resources verified by a QP. Although these historical references of resource potential are relevant to recognizing the potential of the Ingiin-Nars and Ulaan Nuur Properties, they should not be relied upon. About East Asia Minerals Corporation East Asia Minerals is an Asian-based, Canadian mineral exploration company with uranium, gold and copper assets in Mongolia and Indonesia. The Company owns seven uranium properties and a 75% interest in the Khok Adar copper oxide discovery, in Mongolia. In Indonesia, it has a 70 to 85% interest in five advanced gold and gold-copper projects located in Aceh Province in Sumatra and North Sulawesi. East Asia currently has 44,771,605 shares outstanding. Its shares are listed for trading on the TSX Venture Exchange under the symbol "EAS". To receive or stop receiving EAS news via email, please email [email protected] and state your preference in the subject line. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. -30- FOR FURTHER INFORMATION, visit the Company's website at www.EAminerals.com, or contact: Michael Hawkins, President Vancouver T: +1-778-997-2183 E: [email protected] or Nick Kohlmann, Corporate Communications Toronto T: +1-416-792-8734 E: [email protected]

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