🕐01.02.10 - 21:55 Uhr
Eurasian Announces Bronco Creek Exploration Acquisition Completed
Suite 300 - 570 Granville Street, Vancouver, British Columbia, Canada V6C
3P1
Tel: (604) 688-6390 Fax: (604) 688-1157
www.eurasianminerals.com
Eurasian Minerals Inc.
NEWS RELEASE
Eurasian Announces Bronco Creek Exploration Acquisition Completed
Vancouver, British Columbia, February 1, 2010 (TSX Venture: EMX) - Eurasian
Minerals Inc.
(the
"Company" or "EMX") is pleased to announce the completion of the acquisition
of Bronco Creek
Exploration Inc.
("BCE").
The final Agreement and Plan of Merger
("Agreement") has been executed,
and approval for the acquisition has been received from the TSX Venture
Exchange.
BCE will operate as
a wholly owned subsidiary of EMX, and will continue to focus on advancing
and building the North
American exploration property portfolio.
According to the terms of the Agreement, 2,127,790 EMX shares and 1,063,895
non-transferable
common share purchase warrant were issued in exchange for 100% of BCEs
outstanding shares.
Each
full warrant entitles BCE shareholders to purchase one additional EMX share
until January 29, 2012 at a
purchase price of CDN$2.00 per share.
A total of 1,703,120 EMX common shares
issued will be subject
to an 18 month escrow period as required by TSX Venture Exchange regulations
and a further 77,700 will
be subject to a four month Exchange hold period expiring May 30, 2010.
For
additional details of the
transaction, see Company news release dated October 19, 2009 at
www.eurasianminerals.com.
About Bronco Creek Exploration.
BCE has a portfolio of 14 exploration
properties in key mining
districts of Nevada, Wyoming, and Arizona, nine of which are currently under
joint venture, lease/option,
or exploration alliance agreements.
Similar to EMX, the BCE business model
is to acquire mineral
properties with excellent discovery potential, and then execute partnership
agreements that create revenue
streams from those properties.
This self-sustaining business model acts to
preserve working capital, while
maintaining equity interests in properties that allow for the participation
in the financial upside of
discoveries.
BCE is continuing with an aggressive exploration campaign in 2010.
Funding
for the majority of the
exploration work will be provided by partner companies, and BCE will act as
operator for several of the
projects.
Drilling commenced on BCEs Copper Springs property in Arizonas
Globe-Miami Mining
District in December 7, 2009, with assay results pending.
BCE projects
slated for drilling in 2010 include
the Richmond Mountain (Eureka) gold, Cathedral Well gold, and Yerington
copper properties in Nevada,
and Mineral Hill gold-copper property, Wyoming.
Further work planned for
this year includes
geophysical surveys at the Superior West property in Arizona, and follow-up
exploration on the Middle
Mountain and Red Hills porphyry copper exploration projects in Arizona.
The key to BCEs success has been a top tier exploration staff that will
complement and further
strengthen EMXs team.
Dr.
David Johnson continues on as the BCE business
unit manager for EMX,
and will continue to be supported by the BCE staff based in Tucson.
Dr.
Johnson is best known for his
extensive work on Iron-Oxide-Copper-Gold (IOCG) deposits, and has
co-authored review papers and
taught numerous short courses on porphyry and IOCG systems.
BCEs Dr.
Eric
Jensen has been
appointed as Chief Geologist for EMX.
Dr.
Jensen is best known for his work
on alkaline gold systems
and porphyry deposits, and has been an invited speaker at many conferences
and symposiums while
continuing to teach short courses on mineral exploration internationally.
Suite 300 - 570 Granville Street, Vancouver, British Columbia, Canada V6C
3P1
Tel: (604) 688-6390 Fax: (604) 688-1157
www.eurasianminerals.com
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.
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For further information contact:
David M.
Cole Kim C.
Casswell
President and Chief Executive Officer Corporate Secretary
Phone: (303) 979-6666 Phone: (604) 688-6390
Email: Email:
Website: www.eurasianminerals.com
Neither TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
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.