Asian Mineral Resources Limited
TSX VENTURE : ASN

Asian Mineral Resources Limited

August 09, 2007 16:53 ET

Asian Mineral Resources Announces US$3 Million Private Placement

TORONTO, ONTARIO--(Marketwire - Aug. 9, 2007) -

NOT FOR DISTRIBUTION TO THE US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Asian Mineral Resources Limited (TSX VENTURE:ASN) ("AMR" or the "Company") announced today that it has entered into a Subscription Agreement with a single purchaser who will purchase units at Cdn$2.25 per unit for gross proceeds of US$3 million. Each unit consists of one common share and one-half of a common share purchase warrant. Each warrant is exercisable for two years from the closing date at an exercise price of Cdn$3.25. The Closing of the offering of Units is subject to the approval of the TSX Venture Exchange.

The proceeds will be used for pre-development expenditures on the Company's Ban Phuc Nickel Project in northern Vietnam and for working capital.

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 currently has a 90% interest. The Project is part of a granted Foreign Investment License covering 150 square kilometres of highly prospective ultramafic hosted nickel occurrences.

For further details on the Company and its projects please refer to the website at www.asianminres.com.

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.

Contact Information

  • Asian Mineral Resources Limited
    Rob Thomson
    President & CEO
    + 84 (4) 943 3462 (Vietnam)
    or
    Asian Mineral Resources Limited
    Judith Webster
    Investor Relations
    (416) 360-3412 or Cell: (416) 453-8818 (Canada)
    Email: info@asianminres.com
    Website: www.asianminres.com