Asian Mineral Resources Limited
TSX VENTURE : ASN

Asian Mineral Resources Limited

November 20, 2014 08:00 ET

Asian Mineral Resources Appoints New General Manager Operations; Launches New Website

TORONTO, ONTARIO--(Marketwired - Nov. 20, 2014) - Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE:ASN), which owns one of the world's few new sources of nickel, is pleased to announce the appointment of Tim Ashworth as General Manager Operations, to run its high-grade nickel operation at Ban Phuc in Son La, Vietnam. Mr. Ashworth has more than 18 years' experience in underground and surface mining, overseeing owner-mining and contract-mining operations across international operations.

New Website: AMR has also launched a new website at www.asianmineralres.com. The site provides investors with information on the Company's mine, high-capacity processing facility and advanced-stage exploration activity in Vietnam's emerging nickel district.

AMR's Ban Phuc mine boasts a high-grade ore body with an MSV average reserve grade of 2.2% Ni, 1.0% Cu and 0.05% Co. Its simple mining method has the capacity to mine over 360 ktpa ore, with increased extraction rates possible via dual portals and multiple faces. It also benefits from skilled, local labour and low-cost power from the national power grid. The Company's high-capacity processing centre (450 ktpa) enjoys recovery rates of 85% Ni, 95% Cu and 85% Co. The Vietnamese government has identified further development at Ban Phuc as a key element of its natural resources development plan.

Evan Spencer, Chief Executive Officer of AMR, commented, "We are delighted to welcome Mr. Ashworth to the AMR team. With advanced near-mine and regional expansion opportunities, along with our smelter project that greatly enhance project economics, our Ban Phuc operations continue to grow. Ban Phuc is the cash-generating engine of our business, and the continued high performance of the mine and processing facility must remain a key focus. Mr. Ashworth's extensive mining experience will ensure the ongoing success of our operations through this exciting, next phase of AMR's growth."

AMR's Management and Board of Directors would like to thank outgoing Mining Manager, Iain Cox, who was instrumental in the start-up and development of the Ban Phuc Mine.

Scientific and Technical Information

The scientific and technical information contained within this press release is derived from the technical report entitled "NI 43-101 Technical Report - Ban Phuc Nickel Project" dated February 15, 2013 (the "Technical Report"). Mineral Reserves are composed of Proven Reserves of 0.71Mt at 2.4% Ni, 1.0% Cu and 0.06% Co and Probable Reserves of 0.9Mt of 2.1% Ni, 1.0% Cu and 0.04% Co.

Company Profile

AMR is one of the few new sources of nickel sulphide supply globally and is spearheading the growth of a new nickel district in Vietnam. AMR commenced commercial production from its Ban Phuc nickel mine and processing facility in mid-2013 and currently produces over 6,400 tonnes of nickel and 3,200 tonnes of copper per annum contained in concentrate, plus a cobalt by-product. Ban Phuc production provides a cash-generative platform allowing AMR to lead the development of a nickel camp within its 150km2 of concessions, located throughout the highly-prolific Song Da rift zone. The Company has in- and near-mine expansion projects, as well as multiple advanced stage exploration targets within trucking distance of the processing facility.

For further details on AMR, please refer to the Technical Report available on SEDAR or the AMR website at www.asianmineralres.com.

Contact Information

  • Asian Mineral Resources Limited
    Paula Kember
    Corporate Secretary
    +1 (416) 360-3412