East Asia Minerals closes private placement of $4.641m

East Asia Minerals Corporation reported on Friday that it had received TSX Venture Exchange approval for its non-brokered private placement announced June 2, 2009.

The Company will receive C$4.641 million through the issuing of 9.1 million units at $0.51 per unit.

"East Asia Minerals is pleased to have this new investment, which will be used to continue the growth of our Company," stated Michael Hawkins, President and CEO of East Asia Minerals. "In addition to this validation of the exciting growth potential of the Company, we are happy that our existing and new shareholders will also be able to share in the successes of East Asia Minerals as Miwah and our other gold focused projects advance in 2009 and beyond."

East Asia Minerals will use the proceeds of the offering for further exploration of the Miwah Gold Project, advancement of its Indonesia gold and copper portfolio, and unallocated working capital.

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 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. (alex)