09:59 AM EST - East Africa Metals Inc. : Provided an update on the ongoing exploration/development of its gold and gold/copper/zinc projects in the Federal Democratic Republic of Ethiopia. The Company previously signed a diamond drilling contract for up to 10,000 metres. The Phase 1 drilling program has been initiated and equipment has begun being deployed to support the campaign. Based on the recently completed sale of the 70% interest of EAM's Ethiopian subsidiary, Tigray Resources Inc. to Tibet Huayu Mining Co. Ltd. EAM retains the mineral rights and all exploration obligations for the prospective targets not incorporated in the current resources defined within the Terakimti, Mato Bula and Da Tambuk mining licenses. EAM will advance the exploration agenda through diamond drilling and geophysical programs with the objective to expand and upgrade the current resource base and drill untested, high priority exploration prospects. East Africa Metals Inc.
shares V.EAM are trading up $0.01 at $0.15.
