Asian Mineral Resources Limited

Asian Mineral Resources Limited

January 08, 2008 17:20 ET

Asian Mineral Resources Limited Announces Defeat of Dissident Proposal to Remove Incumbent Board

TORONTO, ONTARIO--(Marketwire - Jan. 8, 2008) - Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE:ASN) announced today that shareholders had, by a substantial margin, at the requisitioned meeting held earlier today, confirmed the tenure of the incumbent Board by defeating a resolution proposed by Vietnam Resource Investments to remove the board and replace it with its nominees and approved the continuation of the Shareholder Rights Plan. "We were very pleased with the degree of shareholder support we received and with the outcome of the meeting" commented Jim Askew, the Chairman of AMR. "With this distraction behind us, the Board and management can now devote all of their time and energy to AMR's business and focus their efforts on early development of the Ban Phuc nickel project and other activities in Vietnam. We are confident that the results of these efforts will prove to all our shareholders that the majority of our shareholders did the right thing by placing their trust and confidence in the incumbent Board and management and by continuing the Shareholder Rights Plan in force."

Since receiving the mining license for the Ban Phuc project in December 2007, mine development has commenced, with the establishment of two portals. The mobile equipment required for this underground development has been delivered to the site from Australia and is being commissioned. Detail design work for the processing plant is well advanced and long lead items for this plant have been ordered. The project continues to be on schedule for production of nickel/copper/cobalt concentrate in early 2009.

Company Profile:

Asian Mineral Resources Limited is currently engaged in the exploration and development of the Vietnamese located Ban Phuc Nickel Project in which it has a 90% interest.

For further details on the Company and the Ban Phuc Nickel Project please refer to the website at

Forward-Looking Statements

This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Asian Mineral Resources Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Asian Mineral Resources Limited's expectations are disclosed under the heading "Risk Factors" and elsewhere in Asian Mineral Resources Limited documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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