Mr. Mark Sommer reports

EAST ASIA MINERALS UPDATES $2M PRIVATE PLACEMENT

Further to East Asia Minerals Corp.'s news release dated May 7, 2018, the company is still proceeding with a private placement raising up to $2-million under the same terms previously announced (an offering of 40 million units at five cents per unit, where each unit consists of one common share in the capital of the company and one share purchase warrant; each warrant shall entitle the holder to purchase one additional common share in the capital of the company at a price of 10 cents per warrant share for a period of two years from the closing of the offering).

The net proceeds of the offering after payment of commissions will be used by the company for working capital expenditures related to the Sangihe project during the due diligence process for the credit facility loan of up to $17.5-million ($13.5-million (U.S.)) announced on May 31, 2018.