Aug 8 2013
Eurasian Minerals Inc. (the "Company" or "EMX") is pleased to provide an update on the exploration programs in Haiti. EMX and its Joint Venture partner Newmont Ventures Limited ("Newmont"), a wholly owned subsidiary of Newmont Mining Corporation, have been exploring a land position along a 130 kilometer trend of Haiti's Massif du Nord mineral belt that contains multiple gold, copper, copper-gold and copper-gold-silver occurrences and prospects.
EMX originally initiated exploration in Haiti during 2006, and based on encouraging results established a Joint Venture and Regional Strategic Alliance with Newmont in 2008. Subsequently in 2011, Newmont established six Designated Projects across northern Haiti and the Joint Venture continued exploring this portfolio of assets. In addition to the Designated Projects with Newmont, EMX re-established 100% control of the Grand Bois gold-copper project in 2012. The Joint Venture's efforts have developed several exploration targets that are ready for initial drill testing pending approval of the Research Permits by the Government of Haiti.
Recently, the World Bank agreed to assist the Government of Haiti in its efforts to reform the country's mining law to be more consistent with current international standards. EMX and Newmont participated in a two-day conference in Port-au-Prince co-sponsored by the World Bank to engage the various stakeholders in the process of reforming Haiti's mining law. While revisions to the mining law are pending, the Government has deferred further consideration of the Joint Venture's request for the Research Permits that would cover the six Designated Projects, as well as EMX's request for an extension of the Grand Bois Research Permit. As a consequence, Newmont has placed the Joint Venture's Designated Projects on care and maintenance status, but continues with its community relations programs. EMX considers the deferral of its request for an extension of the Grand Bois Research Permit to be a force majeure event and has also placed its Grand Bois project on care and maintenance status. The Company remains committed to advancing the mining industry's contribution to Haiti's economic development, and looks forward to working with the Government of Haiti in its effort to bring the mining law to current international standards.
About EMX. Eurasian is a global gold and copper exploration company utilizing a partnership business model to explore the world's most promising and underexplored mineral belts. Eurasian generates wealth via grassroots prospect generation, strategic acquisition and royalty growth.
Mr. Dean D. Turner, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
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