East Asia Minerals Corporation - News Releases - East Asia Minerals Acquires Key Mongolian Uranium Property




	2006 \| 2005

	November 09, 2006 East Asia Minerals Acquires Key Mongolian Uranium Property
	VANCOUVER, B.C. -- Thursday, November 9, 2006 -- East Asia Minerals Corporation (TSXV-EAS) announces that it has entered into option agreements to acquire 100% of the Ooshiin Govi Property, comprising three contiguous tenements next to a Compagnie Generale des Metieres Nuclearres (AREVA N.C.) property in southeast Mongolia. This property significantly adds to the strength of the Company's dominantly sediment hosted uranium portfolio. A location map of East Asia's Mongolian uranium projects is posted at www.EAminerals.com. Since announcing that the uranium properties will be vended or optioned to focus the company on gold and copper-gold, EAS finalized these additional agreements to maximize the value of its uranium portfolio as part of its previously announced divestment strategy. While the EAS focus on gold and copper-gold remains unchanged, the Company will not forego other opportunities that have exceptional potential. The Company will realize full shareholder value from its uranium property divestment strategy or through additional exploration drilling if required to realize this value prior to divestment. To this end the Ooshiin Govi Property will be considered as part of the original uranium divestment portfolio under satisfactory terms. The Company also reports that it has signed Confidentiality Agreements for its uranium portfolio with several European, Canadian, Australian and Mongolian companies, ranging from multi-national to junior in size. Due diligence by these companies is at various stages. The Company continues to aggressively pursue high value opportunities and take advantage of its competitive understanding of prospective mineral belts, and strong business networks throughout Asia. This unique competitive advantage combined with an opportunistic approach makes it possible to adjust geographic focus into important jurisdictions such as Indonesia where persistence in navigating the complex multi-layered regulatory environment creates exceptional opportunities for the Company. EAS is currently in advanced discussions for the acquisition of several important gold and gold-copper properties in Indonesia. The EAS management team brings over 100 years of combined exploration experience including over 30 years in the East Asia region. The team is utilizing years of senior international management experience with major and intermediate mining companies (Noranda/Falconbridge, MIM, Cominco, AngloGold Ashanti, Santa Fe Pacific Gold, Lepanto Mining Consolidated, Highlands Pacific., and Eldorado Nuclear Ltd. (Cameco)) to provide strong and effective corporate governance and the skills to achieve full value for its assets, whether through exploration or vending, with a business focus on securing high quality advanced prospects with recognizable economic potential. The EAS hunting ground in East Asia has under-explored world class potential as demonstrated by Ivanhoe's immense Oyu Tolgoi copper-gold project in Mongolia, and the giant Grasberg and Batu Hijau mines in Indonesia. About East Asia Minerals Corporation East Asia Minerals is an Asian-based Canadian mineral exploration company with projects in Mongolia and on-going acquisition targets in the East Asia Region. The Company has a 75% interest in the Khok Adar copper oxide discovery. It also owns six uranium properties, all located in east-central Mongolia, and is involved in advanced discussions to acquire advanced gold and copper-gold projects in Indonesia. 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". -30- 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] Should you wish 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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