Mr. Terry Filbert reports
EAST ASIA MINERALS APPOINTS CHIEF FINANCIAL OFFICER & UPDATES AMDAL PROGRESS
East Asia Minerals Corp. has appointed 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 East Asia since 2011. She has extensive corporate and financial knowledge given her lengthy experience with the company throughout the evolving stages of 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 capitalization of over $100-million. Previously, Ms. Dyczkowski provided financial and advisory services to several Canadian private and public corporations, acting in officer or controller capacities.
Terry Filbert, chief executive officer of East Asia, commented: "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."
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 permit
On July 16, 2020, the company updated investors about the AMDAL environmental assessment study 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 30, 2020, news release
The securities distributed under the offering will be subject to a four-month-and-one-day hold period expiring on Nov. 30, 2020.
About East Asia Minerals Corp.
East Asia is a dynamic junior gold developer with National Instrument 43-101 gold resources in Indonesia, one of the leading gold producer countries in the world. East Asia plans to advance and permit Sangihe in the near term and raise funds for a 1,000-ounce-per-month heap leach
operation. With cash flow from operations, the plan is to further expand resources through drilling of the company's projects.
The company cautions readers that any production decision made by the company will not be based on an 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.
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 its highly prospective project portfolio.
Frank Rocca, BAppSc (geology), MAusIMM, MAIG, chief geologist of East Asia, is the qualified person as defined under NI 43-101, who has reviewed and approves the content of this release.
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