Asian Mineral Resources Limited
TSX VENTURE : ASN

Asian Mineral Resources Limited

October 07, 2013 07:00 ET

Asian Mineral Resources Issuance of Shares

TORONTO, ONTARIO--(Marketwired - Oct. 7, 2013) - Asian Mineral Resources Limited ("AMR") (TSX VENTURE:ASN) has today issued common shares (the "Shares") to certain of its directors as compensation for directors' fees in lieu of cash payment for services performed during the third quarter of 2013. The Shares were issued pursuant to the terms of share compensation agreements with each of Jan Castro, Michael Brown and Stephen Gill as previously announced in press releases dated July 2, 2013 and July 11, 2013. The Shares were issued at a price of $0.05 to each of Jan Castro, in the amount of 412,120 Shares; Michael Brown, in the amount of 309,090 Shares; and Stephen Gill, in the amount of 250,000 Shares, and will be subject to a hold period of four months in accordance with the policies of the TSX-V.

In order to maximize the use of the company's cash, each of the other directors, being Christopher Castle, Jim Askew and Robin Widdup, has elected to defer receipt of their directors' fees until the end of the second quarter of 2014.

Company Profile:

Asian Mineral Resources Limited is a Canadian TSX-V listed company with a nickel producing mine, the Ban Phuc Nickel Project, located 160 km west of Hanoi in Son La Province, Vietnam. The project produces a high-quality nickel concentrate, with a significant copper by-product. For further details on the Ban Phuc Nickel Project and AMR, please refer to the technical report entitled "NI 43-101 Technical Report - Ban Phuc Nickel Project" dated February 15, 2013 available on SEDAR, and also visit the company 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 completion of the project and the achievement of expected benefits, potential mineralization and reserves, exploration results and future plans and objectives of AMR 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 AMR's expectations are disclosed under the heading "Risk Factors" in AMR's Annual Information Form and elsewhere in AMR's documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. Forward‐looking statements are qualified entirely by this cautionary statement and are given only as at the date of this press release. AMR disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Paula Kember
    Corporate Secretary
    +1 (416) 360-3412