Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE:ASN)
announced today that Malaysia Smelting Corporation ("MSC"), having received
required shareholder approval, intends to exercise its warrants to purchase
6,799,999 common shares of AMR at Cdn $2.10 a share issued in December 2007 when
MSC made its initial $20 million investment in AMR common shares. Following such
exercise, MSC will hold 19% of AMR's outstanding shares, being a total
investment of $34.3 million. As previously disclosed, MSC will be entitled, for
a period of two years, to increase its ownership level to not more than 19.9%
and to participate in future equity offerings in order to maintain such
ownership position.


"We are delighted that MSC's shareholders have demonstrated their support for
AMR and our Ban Phuc Project by approving this further investment," commented
Jim Askew, Chairman of the Board. "The proceeds will be used for Ban Phuc
Project development and other budgeted expenditures."


Company Profile:

Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project
in north-western Vietnam in which it has a 90% interest. The Project is
scheduled for commercial concentrate production in the first half of 2009.


For further details on the Company and the Project, please refer to the 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 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.
Millennium Silver (TSXV:MSC)
Historical Stock Chart
From Sep 2024 to Oct 2024 Click Here for more Millennium Silver Charts.
Millennium Silver (TSXV:MSC)
Historical Stock Chart
From Oct 2023 to Oct 2024 Click Here for more Millennium Silver Charts.