AIM Resources Ltd.
ASX : AIM
AIM : AIMR

AIM Resources Ltd.

December 31, 2007 10:14 ET

AIM Resources Limited: Update on TSX Listing Progress and Withdrawal of Convertible Debenture Offering

SYDNEY, AUSTRALIA--(Marketwire - Dec. 31, 2007) - AIM Resources Limited (the "Company") (AIM:AIMR)(ASX:AIM) wishes to provide the following update on its proposed listing on the Toronto Stock Exchange ("TSX") and to advise the withdrawal of its convertible debenture fundraising that was initially announced on 13 November 2007 ("Offering").

In connection with its proposed TSX listing, the Company, on 6 December 2007, filed with Canadian regulatory authorities a Canadian preliminary non-offering prospectus ("Preliminary Non-Offering Prospectus") and associated documents, including an Independent Qualified Persons Report on the Company's Perkoa Zinc Project in Burkina Faso prepared in accordance with the Canadian Code for the reporting of Resources and Reserves - National Instrument 43-101 ("Independent Persons Report"). The Company is currently working through comments on the Preliminary Non-Offering Prospectus received from the Ontario Securities Commission on 21 December 2007.

Regrettably, the Company has recently discovered material errors in the Independent Persons Report as filed with the Canadian regulatory authorities. The Company's management and Board are investigating the errors and conducting a detailed analysis of the Independent Persons Report's financial assumptions and projections, with a view to clarifying the report's financial integrity.

The Company has over A$80 million in available cash and is continuing the development of the Perkoa Zinc Project. The Company is currently putting together a strategy to extend the existing resource at Perkoa.

The events as detailed above have resulted in the Company deciding to withdraw the Offering. Future financing initiatives will be reconsidered when the detailed analysis of the Independent Persons Report has been completed, which is expected to be within the next four weeks.

AIM Resources Limited

The TSX listing application is being progressed with the Company's advisors and the Canadian regulatory authorities and a further update on the application will be given once the listing timetable becomes more certain and the Canadian Preliminary Non-Offering Prospectus can be finalised.

AIM Resources is listed on the ASX (code: "AIM") and on London's Alternative Investment Market (code: "AIMR").

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