Vancouver, British Columbia, September 24th, 2007 (TSX Venture: EMX) – Eurasian Minerals Inc. (the “Company” or “EMX”) and its wholly owned subsidiary Eurasia Madencilik Ltd. Sti is pleased to announce the lease of the Golcuk copper-silver exploration property to Turmenka Madencilik Sanayi ve Ticaret A.S. (hereinafter “Turmenka”). The transaction provides property and advance royalty payments to EMX, as well as a potential royalty stream from future production at Golcuk.
Discussion of the Golcuk Property
The Golcuk copper-silver property is located in the Eastern Pontides metallogenic belt of northeast Turkey, and consists of two exploration licenses covering 7,200 hectares. The mineralization at Golcuk primarily occurs as disseminated, stratabound copper-silver horizons hosted in Eocene volcanic rocks. Government core drilling conducted in the 1970s totaled 1,113 meters from seven target areas, and the best hole reported 34 meters (85-119 m) averaging 1.36% copper. RTZ Corporation drilled one core hole in the early 1990s that yielded 17 meters (82-99 m) averaging 1.17% copper. EMX surface mapping and geochemical sampling commenced in 2004, and confirmed a shallowly dipping tabular copper-silver enriched zone that returned a rock chip grab sample assaying 3.95% copper and 38.1 g/t silver.
Overview of Commercial Terms
The terms of the lease of EMX’s Golcuk exploration license to Turmenka are summarized below:
• Turmenka will make a US$10,000 payment to EMX on the execution of the agreement; will pay US $40,000 prior to the end of the first six months and upon transfer of the license; and will pay US$100,000 as an advance royalty prior to the end of the subsequent thirty (30) month period and annually thereafter for as long as they hold the property.
• Turmenka will core drill a minimum of 750 meters during the first six months from the date of the agreement; spend US$500,000 on exploration and development in the following eighteen months depending on results; and US$500,000 in the subsequent eighteen month period, also depending on results.
• EMX will retain a 4% uncapped net smelter royalty.
• EMX retains a reversionary right to re-acquire the property if Turmenka decides to relinquish the license.
The combination of property payments, advance royalty payments, work commitments, and retained net smelter royalties provides significant upside potential to EMX shareholders, while allowing the Company to continue focusing on development of its precious metals and porphyry copper property portfolio.
EMX’s Growing Base and Precious Metal Royalty Portfolio
The lease of the Golcuk property represents the first royalty property transaction with Turmenka. This transaction, in combination with the recent agreements with Dedeman Madencilik (see Company news releases dated November 14, 2006 and August 24, 2007), adds to EMX’s growing portfolio of royalty properties in Turkey. EMX also retains royalty agreements on a portfolio of precious and base metal properties in Serbia.
EMX is exploring and investing in a first class mineral property and royalty portfolio in some of the most prospective, but under-explored mineral belts of the world. EMX is also participating in quality, early stage exploration investment opportunities to add shareholder value while simultaneously minimizing stock dilution.
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 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.