Asian Mineral Resources Limited
TSX VENTURE : ASN

Asian Mineral Resources Limited

November 05, 2014 15:59 ET

Asian Mineral Resources Issuance of Shares and Grant of Options

TORONTO, ONTARIO--(Marketwired - Nov. 5, 2014) - 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 2014.The Shares were issued pursuant to the terms of share compensation agreements with each of James Askew and Christopher Castle as previously announced in a press release dated October 24, 2013. The Shares were issued at a price of $0.05 to each of James Askew, in the amount of 250,000 Shares and Christopher Castle, in the amount of 300,000 Shares, and will be subject to a hold period of four months in accordance with the policies of the TSX-V.

The Company has granted common shares options pursuant to its 2007 Stock Option Plan (the "Options") to certain of its directors as compensation for directors' fees in lieu of cash payment for services to be performed between July 1 and December 31, 2014. The Options are exercisable at $0.05 per share, expire on November 5, 2019 and vest in equal tranches, one-half immediately and one-half on December 31, 2014. The Options were granted as follows: 999,907 Options to Michael Brown; 740,870 Options to Stephen Gill; and 740,870 Options to Robin Widdup.

Company Profile:

AMR is one of the few new sources of nickel sulphide supply globally. AMR commenced commercial production from its Ban Phuc nickel project in Vietnam in mid-2013. The Ban Phuc project currently produces over 6,400 tonnes of nickel and 3,200 tonnes of copper per annum contained in concentrate, plus a cobalt by-product.

In addition to in and near-mine expansion projects, Ban Phuc provides a cash-generative operating platform from which AMR can continue to focus on developing a new nickel camp within its 150km2 of concessions located throughout the highly-prolific Song Da rift zone, where AMR has a number of advanced-stage nickel exploration targets.

For further details on 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.asianmineralres.com.

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

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