East Asia Minerals completes eleven drill holes at Miwah

Canadian company East Asia Minerals Corporation said it has completed eleven drilling holes at Miwah gold project, since the initial resource was calculated in May 2011. The exploration is now extended to the north towards and into Moon River.

The Miwah property is located in Aceh Province, North Sumatra, considered as the most under-explored part of the highly prospective Indonesian archipelago. East Asia has an 85% starting equity in the 30,000 hectare property which encompasses a large epithermal gold prospect with multi-million ounce gold potential indicated by limited historic drilling.

East Asia said it has hit mineralization in seven of those holes.

Following a review of activities, East Asia has suspended all surface exploration at Miwah. The company will re-focus its activities until the process to reclassify the forest designation at Miwah has resulted in a reclassification of the project that will permit open pit mining.

During the review of activities the company notes that the bureaucratic process to acquire the required ground access permits from the Ministry of Forestry has not been completed.

?It is the view of the company, that the forestry re-classification and finalizing the granting of all required permits provides more immediate opportunity to add value to shareholders than would additional drilling and resource extension,? it said.

East Asia Minerals is implementing a new strategy to achieve this, which includes working full time with Carbon Conservation Pty Ltd.

Concurrently, East Asia continues to advance pre-feasibility study level work at Miwah. Metallurgical work is advancing and is expected to be completed by the end of 2011. (romel)