East Asia Minerals Appoints Chief Financial Officer & Updates AMDAL Progress
July 31, 2020 - East Asia Minerals Corp. ("EAMC" or "The Company") (TSVX:EAS) (OTC:EAIAF) is pleased to announce the appointment of Karen Dyczkowski as Chief Financial Officer. Ms. Dyczkowski has been with the Company, serving in various capacities, since 2008 and has served as corporate controller and corporate secretary for EAMC since 2011. She has extensive corporate and financial knowledge given her lengthy experience with the Company throughout the evolving stages of the market and corporate development. Ms. Dyczkowski brings over 30 years of financial management, accounting and public company financial reporting experience. She currently serves as CFO of another public company with a market cap of over one hundred million. Previously, Ms. Dyczkowski provided financial and advisory services to several Canadian private and public corporations, acting in officer or controller capacities.
Mr. Terry Filbert, CEO of EAMC, comments, "We are glad to finally have Ms. Dyczkowski on board officially in the CFO capacity as she has been assisting in this role and has been instrumental in keeping the Company upright throughout the tumultuous years since 2017. Ms. Dyczkowski has displayed her commitment to the Company over the years and she continues to lead us on various financial fronts. We are pleased to have her in this new role and are confident she will be an effective member of our management team as we work towards our stated goals."
Mr. Scott Davis, the current CFO of the Company, has resigned from his position. The Company thanks Mr. Davis for his service and support since 2017.
AMDAL ENVIRONMENTAL PERMITS UPDATE
On July 16th, 2020, the Company updated investors about the AMDAL environmental assessment study (AMDAL) originally anticipated to be completed by the end of July 2020.
The Company has received an update this week that due to COVID-19 and the global pandemic spreading throughout Southeast Asia and central Indonesia, a quarantine period is now mandatory between islands. As a result of these quarantines, completion of the Sangihe meeting has been delayed but is expected to be held by mid August.
Correction to July 29, 2020 news release
The securities distributed under the offering will be subject to a four month and one day hold period expiring on November 30, 2020.
ABOUT EAST ASIA MINERALS CORPORATION
East Asia Minerals is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the leading gold producer countries in the world. EAS plans to advance and permit Sangihe in near term and raise funds for a 1,000 ounces per month heap leach operation. With cashflow from operations, the plan is to further expand resources through drilling of the Company's projects. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks outlined in the "forward looking statement" below.
East Asia has a team of mining professionals in North America and locally in Indonesia with extensive experience in operating small scale gold and coal assets, working diligently to develop it's highly prospective project portfolio.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, Chief Geologist of East Asia Minerals Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
Per: "Terry Filbert"
Terry Filbert, Director
President & CEO
info@eastasiaminerals.com
+1-206-890-8285
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
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.
Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company's performance or events as of the date hereof. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project's output will not be salable at a price that will cover the project's operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
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