Asian Mineral Resources Limited

Asian Mineral Resources Limited

July 10, 2007 09:07 ET

Asian Mineral Resources Secures Initial Underground Development Equipment and Strengthens Mine Management Team

TORONTO, ONTARIO--(Marketwire - July 10, 2007) - Asian Mineral Resources Limited (TSX VENTURE:ASN) ("AMR") is pleased to announce that they have secured the initial underground mining equipment to allow for a rapid start to the primary production decline development of the Ban Phuc underground mining development, northwestern Vietnam. In addition the Company has expanded its mining team at the Ban Phuc Project in anticipation of the granting of the mining lease.

The mining equipment is high quality used equipment sourced from Perth, Australia and includes a twin boom drill Jumbo, two 32 tonne underground trucks, a general purpose IT, 1700 loader and associated spares. This equipment is currently being refurbished to operational ready status and will be shipped to Vietnam in late July. AMR is currently sourcing the additional drill Jumbo and loader which will also be required to support later development of the secondary development portal.

In addition to the mine equipment, the Company has also purchased an underground diamond drill which will arrive in Vietnam in August. This will be utilized in drilling of initial planned ore production areas to upgrade the feasibility study drilling of the massive sulphide vein to stope definition status. There are existing adits into the Ban Phuc orebody that allow access underground to carry out this work. The drill will subsequently be available to commence definition drilling of the adjacent disseminated sulphide zone.

Mine Team Additions

Additional expatriate appointments have been made in Vietnam reporting to the Ban Phuc General Manager, Rob Guest. Jeff Carr has been appointed Commercial Manager, Graham Kerr has been appointed Site Construction Manager, Girvan Jackson has been appointed Underground Mining Superintendent and will directly manage the stope definition drilling.

Jeff Carr is an Accountant, CPA by training with over 20 years experience in development and operation of mines including CFO for a coking coal mine development and Chief Accountant for Macmahon Holding's Underground Mining division for metaliferrous contract mining.

Graham Kerr is a civil engineer with over 30 years of international experience operating on major projects throughout UK, Africa and South Asia. Mr. Kerr has just completed 18 month contract as Construction Manger for Pan Australia's Phu Bia, US$250 million Copper Gold Project in Laos.

Girvan Jackson has over 20 years of hands on experience as a plant operator, miner, supervisor and manager specialising in recruitment, training and operations development of national underground work forces including recent postings for Grassberg Mine in Indonesia and Chelopeth Mine in Bulgaria.

Jeff, Graham and Grivan bring with them a great depth of mining development and project management experience that will complement and strengthen the existing AMR team as the Ban Phuc Project moves towards production.

Asian Mineral Resources Limited is currently engaged in the exploration and development of the Vietnamese located Ban Phuc Nickel Project in which it now 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.

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)
    Asian Mineral Resources Limited
    Judith Webster
    Investor Relations
    (416) 360-3412 or Cell: (416) 453-8818 (Canada)