Aberdeen International Inc.
TSX : AAB

Aberdeen International Inc.

May 14, 2008 13:08 ET

Aberdeen International Completes Investment in Magma Metals

TORONTO, ONTARIO--(Marketwire - May 14, 2008) - ABERDEEN INTERNATIONAL INC. ("Aberdeen" or the "Company") (TSX:AAB) is pleased to announce that its investment in Magma Metals Limited ("Magma")(ASX:MMB) has closed with the approval of Magma's shareholder vote on May 8th, 2008. Aberdeen has acquired 5,714,286 shares of Magma at a price of A$0.35, which represents approximately 5.8% of the issued shares of Magma, and 2,857,143 warrants with an exercise price of A$.50 and a term of two years.

Magma has announced that it intends to use the majority of the funds from the financing to advance the Company's promising Thunder Bay North project, which Magma has stated has the potential to host a substantial Platinum - Palladium resource. Subject to ongoing positive drilling results from this project, the Company plans to dual list on the Toronto Stock Exchange (TSX) later in 2008, with Cormark Securities Inc acting as lead agent.

George Faught, Aberdeen's President and CEO, stated "we are pleased that Magma's shareholders have approved the recent financing and we look forward to the results of the summer drill program as Magma progresses towards a resource estimate at its key PGM project near Thunder Bay, Ontario."

About Aberdeen International Inc:

Aberdeen is a publicly traded global investment and merchant banking company focused on small cap companies in the resource sector. Aberdeen will seek to acquire significant equity participation in pre-IPO and/or early stage public resource companies with undeveloped or undervalued high-quality resources. Aberdeen will focus on companies that: (i) are in need of managerial, technical and financial resources to realize their full potential; (ii) are undervalued in foreign capital markets; and (iii) operate in jurisdictions with moderate local political risk. Aberdeen will seek to provide value-added managerial and board advisory services to companies. The Corporation's intention will be to optimize the return on its investment over an 18 to 24 month investment time frame.

Aberdeen International Inc.

Please visit the Company's web site at www.aberdeeninternational.ca or write us at smoore@aberdeeninternational.ca.

Cautionary Notes

Aberdeen has relied on the public disclosure of Magma for all information about Magma.

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the future shareholdings of the Company, the potential of investee companies and the appreciation of their share price, the future intentions of the Company with regard to its shareholdings; the Company's plan of business operations; and anticipated returns. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

Contact Information

  • Aberdeen International Inc.
    George Faught
    President and CEO
    (416) 861-5887
    or
    Aberdeen International Inc.
    Stan Bharti
    Executive Chairman
    (416) 861-5876
    Website: www.aberdeeninternational.ca