Asian Mineral Resources Limited ("AMR") (TSX VENTURE:ASN) is pleased to note
that the Ministry of Finance of the Socialist Republic of Vietnam has issued a
circular which stipulates an export tariff of 5% on nickel matte with effect
from January 1, 2013. The existing export tariff of 20% on nickel concentrates
remains unchanged.


This introduction of the export tariff of 5% on nickel matte underpins the
positive economics of a smelter indicated by the studies completed by AMR
to-date.


Smelter Studies

As announced on July 30, 2012, AMR had commissioned RungePincockMinarco to
undertake a preliminary study for a single-phase mixed sulphide smelter at the
Ban Phuc nickel project. A smelting operation would substantially upgrade the
planned 9.5% nickel concentrate product to a high-value mixed metal matte
containing 36% nickel, 14% copper and 1% cobalt.


The study, supported by equipment supplier quotations, indicated that a
single-phase smelter could be constructed for a low capital cost of A$24
million, not including technology licensing fees, and operating costs of A$50.31
per tonne of dry concentrate feed (+/- 30%).


The following operating metrics were considered by the study:



----------------------------------------------------------------------------
Dry concentrate feed                                              63,000 tpa
----------------------------------------------------------------------------
Recoveries                                                            85-90%
----------------------------------------------------------------------------
Matte production                                                  14,396 tpa
----------------------------------------------------------------------------
Metal contained in matte:                                                   
  Nickel                                                           5,160 tpa
  Copper                                                           2,045 tpa
  Cobalt                                                             165 tpa
----------------------------------------------------------------------------



In addition to the significantly reduced export tariffs, a smelter option would
also substantially reduce transportation costs and leverage the low-cost
hydro-power supply at Ban Phuc.


Intention to Proceed to Detailed Engineering Studies

In light of these positive developments and the continuing government support
for a nickel smelter at Ban Phuc, the necessary requirements are now in place to
advance with detailed engineering studies into an integrated nickel mining and
smelting operation. The aim of such studies would be to undertake further
engineering design for a smelter to confirm the capital and operating cost
estimates to a sufficient degree of accuracy to support a decision to commence
construction, and provide the basis to proceed to detailed engineering and
ordering of long-lead time items.


Mr. Simon Booth, CEO of AMR stated, "We are excited at the prospects of
progressing with the rapid development of a smelter for the Ban Phuc nickel
project, which would enable AMR to significantly improve the economics of the
project and support the Government of the Socialist Republic of Vietnam's desire
to pursue in-country processing."


Construction of a nickel concentrate operation at Ban Phuc continues at
full-pace. The potential to improve project economics through the addition of a
smelter would be incremental to the project and does not change the mineral
reserves of the project, or timing for first concentrate production, targeted
for mid-2013.


Further updates will be provided once AMR has completed such studies.

The technical information in this press release was approved by Andrew Newell,
who is a qualified person and independent of AMR.


Company Profile:

Asian Mineral Resources Limited is developing the Ban Phuc Nickel Project,
located 160 km north-west of Hanoi in 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 the company 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 completion of the project 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
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