Asian Mineral Resources Limited ("AMR") (TSX VENTURE:ASN) has announced today
that it has completed the previously announced private placement offering (the
"Private Placement") by Pala Investments Limited ("Pala") and Lion Selection
Group Limited ("Lion") in AMR whereby Pala and Lion purchased 150,000,000 common
shares of AMR (the "AMR Shares") and 16,666,666 AMR Shares, respectively, each
at CDN$0.06 per AMR Share for total consideration of CDN$10,000,000. The
proceeds from the Private Placement will be used by AMR to fund capital
expenditures for the construction of the Ban Phuc Nickel Project and for working
capital purposes.


The issuance of AMR Shares to Pala received the approval of shareholders at
today's special meeting of AMR shareholders. 


All securities issued to Pala and Lion pursuant to the closing of the Private
Placement are subject to a four-month statutory hold period, which will expire
on April 18, 2013.


Company Profile:

Asian Mineral Resources Limited is developing the Ban Phuc Nickel Project,
located 160 km north-west of Hanoi in the Son La Province, which is 90% owned by
its subsidiary Ban Phuc Nickel Mines LLC. The development of the project is in
advanced stages, with underground and surface infrastructure near completion and
commercial production expected to occur by June 2013. For further details on AMR
and the Ban Phuc Nickel Project, please refer to AMR's 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 the anticipated use of proceeds from
the Private Placement, completion of the project, the commencement of commercial
production and the achievement of expected benefits, potential mineralization
and reserves, exploration results and future plans and objectives of AMR 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 AMR's expectations are disclosed under the heading "Risk
Factors" in AMR's Annual Information Form and elsewhere in AMR's documents filed
from time-to-time with the TSX Venture Exchange and other regulatory
authorities. Forward-looking statements are qualified entirely by this
cautionary statement and are given only as at the date of this press release.
AMR disclaims any obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by law.



FOR FURTHER INFORMATION PLEASE CONTACT: 
Asian Mineral Resources Limited
Paula Kember
Chief Financial Officer
(416) 360-3412
www.asianminres.com
Asian Mineral Resources (TSXV:ASN)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Asian Mineral Resources Charts.
Asian Mineral Resources (TSXV:ASN)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Asian Mineral Resources Charts.