East Asia Minerals Provides Update on Miwah Project IUP Renewal
03 December 2012 - 11:00PM
Marketwired Canada
East Asia Minerals Corporation (TSX VENTURE:EAS) has now obtained verbal
confirmation of the grant of an additional 2 (two) years extension i.e. up to
2014 for its mining business licenses at its Miwah project in Indonesia, which
was due to expire as of November 30, 2012. The confirmation has been received
from both its local partner and the Bupati of Pidie Regency, who is the local
Indonesian governmental official with the authority over the mining business
licenses.
EAM fully expects the necessary documentation on the extensions to be signed
shortly.
East Asia Minerals Corporation had previously received an updated title opinion
with regard to Miwah project from its legal counsel in Indonesia confirming that
the holders of the mining business licenses granted in relation to the Miwah
project are the valid and legitimate parties over the Miwah project, which allow
the holders of the licenses in the Miwah project access rights to conduct
exploration activities of gold and its associated minerals on the Miwah project.
The exploration activities are limited until additional permits are received.
Further, the legal counsel in Indonesia has also confirmed that so long as the
underlying mining business licenses at Miwah project are validly and legally
extended, the cooperation agreements which establish the Company's interest in
the Miwah project in Indonesia are valid and that the counsel was not aware of
any material defects in such agreements for its Miwah project.
East Asia Minerals has outlined an exploration plan to move forward on the Miwah
project during 2013 and 2014.
Ed Rochette, the CEO of the Company, states, "This is great news, as we have
worked diligently to achieve this extension of time for the business licenses
and now the company can focus its attention on the exploration of the areas and
the issues involving further access in the areas under the forestry
classification."
About East Asia Minerals Corporation
East Asia Minerals (TSX VENTURE:EAS) 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 three advanced gold and gold-copper properties located in
Aceh Province, Sumatra, and Sangihe Island, North Sulawesi. The Company owns six
uranium properties, including the advanced Ingiin-Nars, Ulaan Nuur and Enger
uranium projects, and two phosphate properties in Mongolia. Its 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.
On Behalf of East Asia Minerals Corporation:
Edward Rochette, Chairman & CEO
To receive or stop receiving EAS news via email, please email
Info@EAminerals.com and state your preference in the subject line.
FOR FURTHER INFORMATION PLEASE CONTACT:
East Asia Minerals Corporation
+1 604-684-2183
Info@EAminerals.com
www.EAminerals.com
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