Asia Pacific Resources Ltd.

Asia Pacific Resources Ltd.

January 11, 2005 08:22 ET

Asia Pacific Resources Announcement



OTC Bulletin Board SYMBOL: APQCF

JANUARY 11, 2005 - 08:22 ET

Asia Pacific Resources Announcement

TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2005) - Asia Pacific Resources
announces that it has renewed its agreement with Pacific Alliance Group
(PAG), specialist advisors retained by the Company on a success fee
basis to assist the Company to secure an Udon South Mining Lease. PAG
assisted the Company to secure its rights over Udon North under the
Concession Agreement.

The new agreement includes a series of milestone events leading up to
the public consultation process, after which the Minister of Primary
Industry and Mines is expected to make a decision on the Company's Udon
South Mining Lease Application. The agreement calls for Asia Pacific to
make a progress payment upon successful completion of the milestone
events, with the balance of the success fee payable on upon receipt of a
commercially acceptable Mining Lease.

In discussions with government officials it is clear that senior staff,
from all departments, are rightly focusing all their efforts on
providing support to the families of victims of the Tsunami disaster and
to rebuilding the lives and businesses of those most in need. There is,
therefore, an understandable slowdown in the work required to progress
the Mining License Application for Udon South.

John Bovard, CEO of Asia Pacific Resources said "I am relieved that our
staff and their families are safe. Although the Udon Thani site is
hundreds of miles from the disaster region the Company is aware of
families from the mine site area that have lost family members and our
thoughts go out to them and to all the victims of this great tragedy.
The Company is working with local authorities and private enterprise
groups such as the Federation of Thai Industries in Udon Thani and the
Chamber of Commerce to identify needs, support local fund raising
activities and facilitate the distribution of aid. The Company would
seek to match funds raised for local use up to Baht 500,000."

Asia Pacific Resources also confirmed that it continues in discussions
with third parties regarding offtake agreements as well as possible
equity investments in the Company. No agreements have been reached, and
there can be no assurance that these discussions will lead to any
agreements or investments.

Asia Pacific Resources shares are traded on the TSX as well as the
Frankfurt and Stuttgart Stock Exchanges, under the symbol APQ, and on
the OTCBB under the Symbol APQCF.

The information provided in this news release may contain forward
looking statements within the meaning of the Safe Harbor provisions of
the US Private Securities Litigation Reform Act of 1995. These
statements are based on Asia Pacific Resources' current expectations and
beliefs and are subject to a number of risks and uncertainties that can
cause actual results to differ materially from those described in
forward looking statements.


Contact Information