Asian Mineral Resources Limited
TSX VENTURE : ASN

Asian Mineral Resources Limited

August 29, 2007 17:38 ET

Asian Mineral Resources Limited Shareholder Rights Plan Effective

TORONTO, ONTARIO--(Marketwire - Aug. 29, 2007) - Asian Mineral Resources Limited (TSX VENTURE:ASN) (the "Company") announced today that the Shareholder Rights Plan ("Plan") adopted by its Board on August 27, 2007 has now become effective. The Plan is designed to encourage the fair treatment of shareholders should a take-over bid be made for the Company, by providing the Board and the shareholders with sufficient time to evaluate unsolicited take-over bids, and, if appropriate, to pursue alternatives to maximize shareholder value.

The Plan is similar to rights plans adopted by other Canadian corporations. The rights issuable under the Plan will become exercisable when a person, together with any parties related to it, acquires or announces its intention to acquire 20% or more of the Company's outstanding shares without complying with the "Permitted Bid" provisions of the Plan or without approval of the Board. In that event, shareholders (other than the acquiring person and related persons) will become entitled to purchase shares of the Company at half the prevailing market price at the time the rights become exercisable. A "Permitted Bid" is one made to all shareholders which is open for acceptance for not less than 60 days. If at the end of the 60-day period at least 50% of the outstanding shares, other than those owned by the offeror and related parties, have been tendered, the offeror may take up and pay for the shares but must extend the bid for a further period of not less than 10 days to allow other shareholders to tender.

The Plan became effective as of August 28, 2007 but must be ratified by shareholders within six months in order to continue to be effective. A copy of the Plan will be available at www.sedar.com. The Plan requires approval of the TSX Venture Exchange.

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 www.asianminres.com or contact:

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
    Rob Thomson
    President & CEO
    + 84 (4) 943 3462 (Vietnam)
    or
    Asian Mineral Resources Limited
    Judith Webster
    Investor Relations
    (416) 360-3412 or Cell: (416) 453-8818 (Canada)
    Email: info@asianminres.com
    Website: www.asianminres.com