Asian Mineral Resources Limited
TSX VENTURE : ASN

Asian Mineral Resources Limited

March 28, 2007 10:12 ET

Asian Mineral Resources Limited: Ban Phuc Nickel Project Progress Update

TORONTO, ONTARIO--(CCNMatthews - March 28, 2007) - Asian Mineral Resources Limited (TSX VENTURE:ASN) reported today on the current status and planned activity on the Ban Phuc nickel project being undertaken by its 90%-owned subsidiary, Ban Phuc Nickel Mines Limited ("BPNML"), including:

- As phase one of an EPCM contract Metplant, an Australian process engineering company, is preparing a definitive detailed plant design and associated capital cost estimate.

- Preparation by AMDAD of a definitive mine design and associated reserve and resource report.

- Purchase of a second hand grinding mill located in Australia which will be refurbished - thereby accelerating project development.

- Issue of tenders for various infrastructure components, including the tailings dam.

The timing of delivery of the various reports and tender responses and the completion of other pre-development activities will facilitate the commencement of development activities as soon as BPNML has received a mining license for the project. BPNML expects to receive shortly the last of the ministerial approvals required before requesting approval by the Prime Minister's Office. Following receipt of PMO approval, the license application dossier will be resubmitted to MONRE for the issue of the license.

ASN has granted to each of its three non-executive directors options to purchase 150,000 common shares at an exercise price of $1.80.

Rob Thomson, President and CEO of ASN commented: "We are satisfied with the degree of progress being made on the various elements of the Project. We expect to make further announcements on our continuing progress including the expected date of issue of the mining license".

The grant of the stock options is subject to the approval of the TSX Venture Exchange.

Company Profile

Asian Mineral Resources Limited is currently engaged in the exploration and development of the Ban Phuc nickel sulfide project in which it currently has a 90% interest. The Project, located in Vietnam, is part of ASN's Foreign Investment License covering 150 square kilometres 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.

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