Vancouver, British Columbia, February 1st, 2008 (TSX Venture: EMX) – Eurasian Minerals Inc. is pleased to announce it is engaged in advanced negotiations with Newmont Ventures Limited, a subsidiary of Newmont Mining Corporation (NYSE: NEM) with respect to a Private Placement of units of Eurasian, a Regional Exploration Alliance for Northern Haiti, and earn-in Joint Venture on Eurasian’s La Miel Project in Haiti. The proposed agreements are subject to a 30 day title due diligence period by Newmont and will require the parties to negotiate final terms and prepare, approve and execute final definitive agreements. Eurasian’s Haitian projects are located in northern and northeast Haiti and are covered by six exploration permits totalling over 500 square kilometres and are located along a segment of prospective geologic terrain similar to, and on trend with, the world-class Pueblo Viejo gold-silver deposit in the neighbouring Dominican Republic. The full terms of the proposed Exploration Alliance and earn-in Joint Ventures will be announced upon final approval and execution of the definitive agreements.
As part of the proposed transaction, Newmont would purchase 1,700,000 units from Eurasian at a price of CDN$2.06 per unit. Each unit will consist of one common share and 0.75 non-transferable common share purchase warrants. Each full warrant will entitle Newmont to purchase one additional common share for a period of two years at a purchase price of CDN$2.50 per unit. The placement will be subject to exchange approval.
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. Such statements include, without limitation, statements regarding the settlement and execution of formal documentation with respect to the proposed agreements with Newmont.