Vancouver, British Columbia, August 24, 2007 (TSX Venture: EMX) – Eurasian Minerals Inc. (the “Company” or “EMX”) is pleased to announce drill results from the Balya royalty property in western Turkey. The Balya property owner and operator, privately held Dedeman Madencilik San ve Tic. A.S. (“Dedeman”), has reported to EMX that all nine core holes drilled to date have intersected significant mineralization, including holes DBHS-1 with 13 meters averaging 82.73 g/t silver, 1.40 % zinc, and 6.74 % lead and DBHS-8 that returned six meters averaging 109.55 g/t Ag, 7.89 % zinc, and 7.48 % lead. EMX holds a 4% net smelter royalty at Balya.
Historic Government Drilling Intersected Lead-Zinc-Silver Mineralization
The Balya license controls an important sector of the historic Balya lead-zinc-silver mining district. The district produced lead, zinc, silver and copper from skarn, vein, and replacement deposits between 1880 and 1938. In the late 1970s, Balya was drilled by the Turkish government with eight core holes totaling 1,935 meters, and historic, non National Instrument 43-101 compliant lead-zinc resources were reported for the Hastanetepe zone. Silver resources were not reported.
EMX Property Acquisition, Exploration Assessment, and Dedeman Deal
EMX recognized Balya’s exploration potential, and acquired the Balya property in 2005 via government auction. EMX’s exploration assessment confirmed the potential for a small tonnage, high grade, base metal target. Subsequently, EMX concluded an exchange of properties (see Company news release dated November 14, 2006) that included the transfer of the Balya license to Dedeman. The terms of the agreement include a 4 % net smelter royalty on production, a US$100,000 advance royalty payment in year one, and a work commitment by Dedeman calling for 3000 meters of drilling in year one, and a total of US$1.5 million of drill expenditures in years two and three.
Dedeman Drill Results
Dedeman completed the initial round of drilling and successfully intersected significant silver-lead-zinc mineralization in the Hastanetepe zone. Dedeman’s drilling consists of seven vertical and two inclined core holes totaling 1,595 meters. All nine of the holes intersected mineralization, with particularly notable intercepts of:
- 13 meters (87-100 m) averaging 82.73 g/t silver, 1.4 % zinc, and 6.74% lead in hole DBHS-1
including 6 meters (94-100 m) averaging 151.30 g/t Ag, 2.84% zinc, and 12.56% lead
- 6 meters (55-61 m) averaging 109.55 g/t silver, 7.89 % zinc, and 7.48 % lead in hole DBHS-8
including 2.6 meters (57-59.6 m) averaging 223.54 g/t Ag, 16.56% zinc, and 14.97% lead
- 14 meters (116-130 m) averaging 73.94 g/t silver, 2.50 % zinc, and 4.53 % lead in hole DB-12.
The Hastanetepe zone is interpreted to dip shallowly to the southwest, and the drill intercepts report an approximate ‘true thickness’. The zone has now been drilled for over 80 meters along strike and 150 meters along the dip direction, and remains open for extension in all directions. EMX is not only encouraged by the drill results, but also by Dedeman’s aggressive drill program and reputation for quickly bringing economic deposits into production. The Balya drill results establish the property’s potential to provide EMX a royalty stream from future production.
Comments on Sampling, Assaying, and QA/QC
Dedeman’s drill samples were collected in accordance with accepted industry standards and procedures. The samples were submitted to the ISO 9001:2000 accredited ALS Chemex laboratories in Vancouver, Canada for analysis: gold was analyzed by fire assay with an AAS finish, and base metal analyses were determined by ICP MS/AAS techniques. Dedeman performed routine QA/QC analysis on the assay results, including the systematic utilization of certified reference materials, blanks, and field duplicates.
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.
9th Floor – 570 Granville Street, Vancouver, British Columbia, Canada V6C 3P1 Tel: (604) 688-6390 Fax: (604) 688-1157 www.eurasianminerals.com