Asian Mineral Resources Limited
TSX VENTURE : ASN

Asian Mineral Resources Limited

November 10, 2006 11:27 ET

Asian Mineral Resources Limited Announces Resignation

TORONTO, ONTARIO--(CCNMatthews - Nov. 10, 2006) - Asian Mineral Resources Limited, (TSX VENTURE:ASN) ("ASN" or the "Company") announced today that David Woodhouse will be resigning as President and Chief Executive Officer of the Company and as General Director of the Company's 90% owned Ban Phuc Nickel Mines Ltd. joint venture, in both cases effective November 10, 2006. His replacement will be Robert Thomson, who is a director of the Company and who recently resigned as President and CEO of ASX-listed Climax Mining Ltd. in conjunction with the merger of Climax and Oceana Gold Limited. Mr. Woodhouse will complete his employment contract term on 31st January 2007 and assist with the handover transition to Mr. Thomson.

Commenting on Mr. Woodhouse's resignation, Mr. Jim Askew, Chairman of the Company, said, "Under David's leadership, ASN completed the feasibility study, increased its ownership position in our Ban Phuc Nickel Mines joint venture, and made substantial progress towards implementing the development of the Ban Phuc nickel property. The board has confirmed that bringing Ban Phuc on-stream continues to be the main focus of our activity and wishes me to record our thanks to David for his significant contribution towards achieving that goal".

Company Profile

Asian Mineral Resources Limited is currently engaged in the exploration and development of the Vietnamese located Ban Phuc nickel sulfide project in which it currently has a 90% interest. The Project is part of a granted Foreign Investment License covering 150 square kilometers 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
    Jim Askew
    Chairman
    (416) 360-3412
    (416) 362-6830 (FAX)
    Email: info@asianminres.com
    Website: www.asianminres.com
    or
    Grove Communications
    Kate Black
    (416) 360-3412
    (416) 362-6830 (FAX)