Proceeds of the debt financing will be used towards the construction of the Terakimti Oxide Gold Project. East Africa now has mineral resources defined at both projects in Ethiopia and plans to continue to test priority targets. East Africa has entered into a definitive agreement with an arm's length private exploration and development company to advance the project. Cautionary Statement Regarding Forward-Looking InformationThis news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Accordingly, readers should not place undue reliance on forward-looking information contained herein, except in accordance with applicable securities laws.

Source: Ethiopian News November 02, 2016 07:34 UTC