Asian Mineral Resources Limited

Asian Mineral Resources Limited

April 25, 2007 10:47 ET

ASN Announces Re-Interpretation of Disseminated Resource

TORONTO, ONTARIO--(CCNMatthews - April 25, 2007) - Asian Mineral Resources Limited (TSX VENTURE:ASN) announced today an update of the disseminated mineralization ("DISS") resources included in the Ban Phuc Nickel Mines Limited ("BPNML") property in north-western Vietnam.

Updated resource estimates are provided in the Table below for a range of nickel cut-off grades.

Table - April 2007 DISS Resource Estimates

Ni/S less than or equal to 2.0, Primary only
Category based Cut-off Ni metal
on Ni (Ni%) Tonnes Ni% S% (Tonnes)
Indicated 0.25 25,937,071 0.40 0.48 103,748
Indicated 0.30 20,998,928 0.43 0.51 90,295
Indicated 0.35 14,348,270 0.48 0.58 68,728
Indicated 0.40 8,655,834 0.55 0.68 47,434
Inferred 0.25 22,065,879 0.38 0.39 84,292
Inferred 0.30 18,495,233 0.40 0.41 74,351
Inferred 0.35 12,389,084 0.44 0.45 54,388
Inferred 0.40 6,514,827 0.50 0.51 32,509
(Categorization of Indicated and Inferred is on the basis of estimation
of Ni.)

Previous work on the DISS mineralization was completed in late 2004 prior to the receipt of assays from several holes that had intersected this mineralization. ASN completed a new interpretation in 2005 and, with the recent firming of nickel prices, it is timely to re-assess this resource. As a result, the DISS resource has now been domained into two podiform type zones and a re-estimate completed. Both zones will still require considerable drilling to confirm their shape and continuity. Furthermore, the estimates are reported above a cut-off of 0.25% which, according to preliminary cost and testwork data, may represent an approximate lower economic cut-off. Previously, the DISS estimates were only reported above a 0.4% Ni cut-off.

The Company's resource consultants, Hellman and Schofield Pty Ltd. of Sydney, NSW, Australia, completed the DISS resource estimates using the revised geological interpretation. The results in the Table are classified on the basis of confidence in the nickel estimates.

A critical issue is the lack of sulphur data for holes drilled before 2003 since the sulphur level largely controls what can be regarded as a resource suitable for processing by flotation methods. From preliminary metallurgical work in 2004, it is unlikely that mineralization with a high Ni/S ratio can be recovered economically using flotation. Accordingly, the DISS estimates are reported on the basis of estimated blocks with Ni/S less than or equal to 2. Only one-third to one-quarter of the resources quoted have sufficient sulphur information to support the quoted confidence categorization. Future work on the DISS resource will focus on pre-2003 drilled areas with the twofold aim of obtaining a better understanding of the sulphur distribution as well as providing more definition of the mineralization geometry.

The DISS resources reported by Hellman and Schofield in the 2005 NI43-101 technical report dated February 28, 2005, based on a 0.4% nickel cut-off grade, were as follows:

Ni Metal
Category M Tonnes Ni% (Tonnes)
Indicated 13.2 0.55 73,116
Inferred 9.0 0.51 45,881

The decrease in the tonnage of the resource has largely resulted from the 2005 ASN geological interpretation compared to the previous ASN interpretation.

CSA Consultants

ASN has appointed CSA Australia, geological consultants of Perth, Western Australia, to provide ongoing geological expertise to support BPNML's Vietnamese staff in exploring for additional nickel sulphide resources. The CSA team, led by Mick Elias, is highly experienced in exploring for similar nickel deposits in Western Australia and elsewhere globally, and will bring specific expertise and exploration technologies to planned exploration programmes. CSA has recently completed initial field reviews at Ban Phuc and surrounding prospective nickel areas.

Continuing Recruitment of Pre-development Staff

Following the appointment of Rob Guest as GM Ban Phuc Nickel Mines, Girvan Jackson has been appointed as underground mining superintendent. Mr. Jackson has a successful track record of providing hands on development training to national staff and operators for underground operations, including his most recent position in an underground Indonesian operation. Both Rob and Girvan provide specific underground development and operation expertise, reflecting ASN's requirement that the proper establishment of safe and efficient underground activities is a critical path driver for a successful project. Recruitment for a commercial manager is underway and it is expected that this position plus recruitment of Vietnamese environmental and HR staff will complete pre-development staffing requirements.

Mining License

In the meantime, BPNML is proceeding with the initial development which will exploit the massive sulfide resource on the Ban Phuc property. The last of the required ministerial approvals having been obtained, the request has now been made for approval by the Prime Minister's Office, after which MONRE will be requested to issue the required mining license.

The qualified person for the technical information relating to resource estimates contained in this press release is Dr P L Hellman, Hellman & Schofield Pty Ltd.

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 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.

For further details on the Company and its projects please refer to the website at or contact:

Grove Communications
Tel: (416) 360-3412 Fax: (416) 362-6830
144 Front Street West
Suite 780
Toronto ON, M5J 2L7

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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