Update: Acquisition of Kuru Tegerek Exploration License in Kyrgyz Republic
Vancouver, British Columbia, August 25, 2004 (TSX Venture: EMX) - As an update to the Eurasian Minerals Inc. (the “Company”) press release issued earlier today, the Company includes cautionary statements previously disclosed in its June 11, 2004 press release regarding the historical resource estimate for the Kuru Tegerek copper-gold skarn deposit. The Kuru Tegerek open pit oxide “mineable resources” were reported in 2001 by Pincock, Allen, and Holt (PAH) as 2.1 million tonnes with average grades of 0.53% copper and 2.88 g/t gold, assuming then current metal prices of $275/ounce gold and $0.80/pound copper. PAH’s minable resource estimate is relevant, but does not meet National Instrument 43-101 or CIMM resource reporting standards. PAH’s historical “mineable resource” has no CIMM equivalent resource definition, but most closely approximates an “inferred resource” that has had various mining, metallurgical, and economic parameters imposed to report the “in-pit” material. The PAH historical estimate has not been verified by the Company and should not be relied upon until it can be confirmed by the Company. An additional 26 core holes were drilled in 2000, but to the Company’s knowledge were never incorporated into an updated resource estimate. The Company is currently reevaluating the Kuru Tegerek resource potential in light of today’s higher metal prices and improved metallurgical processing technologies.
Mr. Dean Turner, P.Geo., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed and verified the technical mining information contained in this news release.
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Kim C. Casswell
Phone: (604) 688-6390
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Eurasian Minerals Inc. Actual results may differ materially from those currently anticipated in such statements.