Asian Mineral Resources Limited

Asian Mineral Resources Limited

November 16, 2007 17:06 ET

Asian Mineral Resources Limited Announces Mailing of Shareholder Meeting Materials

TORONTO, ONTARIO--(Marketwire - Nov. 16, 2007) - Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE:ASN) announced that on November 13, 2007 it posted on SEDAR and on November 14, 2007 it mailed to shareholders a notice of meeting and management information circular for a General Shareholders' Meeting to be held on Tuesday, January 8, 2008. The meeting has been called in response to a requisition by Vietnam Resource Investments (Holdings) Limited ("VRI"), a member of the Dragon Capital Group, which owns approximately 36% of the Company's outstanding shares. The business to be transacted at the meeting will consist of:

- consideration and voting on a resolution to approve the continuation after February 28, 2008 of the Shareholder Rights Plan adopted in August 2007 and approved by the TSX-V;

- consideration and voting on a resolution to be proposed by VRI to remove from office the incumbent board of directors elected at the annual meeting held in July 2007; and

- should the removal resolution pass, to consider and vote on a replacement slate of directors to be proposed by VRI.

Management is recommending in the Circular that shareholders vote:

1. FOR continuing the Plan

2. AGAINST removal of the incumbent board of directors.

As disclosed in the Circular:

- on September 4, 2007, nine days after the Plan took effect and 12 days after being required to do so by securities regulations, Dragon announced that on August 23, 2007 it had entered into an agreement to acquire 12,932,820 shares from Cambrian Resources, thereby increasing the Dragon Group's ownership position to 37.8% of the issued and outstanding shares of the Company as of that date;

- after being notified by the Company that any further share purchases would trigger the Plan, with undesirable consequences for them, VRI initiated discussions and negotiations with the Company;

- on October 9, 2007, when the negotiations appeared to be reaching a satisfactory conclusion, VRI announced publicly, without prior notice to the Company, that, because of recent unspecified actions, they had lost confidence in the board of directors and would seek to replace them at a shareholders' meeting to be requisitioned for the purpose; and

- VRI has not disclosed either to the Company or publicly

(a) the actions which caused them to lose confidence in the board, or

(b) the names or qualifications of their proposed replacements, or

(c) their plans for the Company or the Ban Phuc Project.

"Under the incumbent board and management, the Company's share price has increased and substantial progress has been made on developing the Ban Phuc project. We are confident that shareholders will see VRI's action in calling a meeting for what it is - an attempt to get control of the Company without making an offer to all shareholders, as required by the Plan," commented Jim Askew, Chairman of AMR. "Having requisitioned the meeting, VRI has provided no information to shareholders regarding its plans, its nominees or their qualifications. Shareholders should vote to continue the Plan and to retain the current board and management."

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 the Ban Phuc Nickel Project please refer to the website at

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.

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