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Asian Mineral Resources Limited

Wednesday, December 19th, 2007

Asian Mineral Resources Limited announce that it has agreed to issue 11,428,571 units by way of a non-brokered private placement, with each unit consisting of one common share of the Company and 0.595 of a warrant, with each warrant entitling the holder to purchase an additional common share of the Company to an Asian investor engaged in the business of mining. The issue price of the units is Cdn $1.75 per unit for gross proceeds of Cdn. $20 million. The 6,799,999 warrants will be exercisable until April 30, 2008 at an exercise price of Cdn $2.10 per share. After the date the warrants are exercised in full, the investor will be entitled to nominate one member to AMR’s Board of Directors. The investor will also have the right for a period of up to 2 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. Assuming full exercise of the warrants, the total investment in AMR by the investor will be Cdn.$34.3 million.
The proceeds from the sale of the units and from exercise of the warrants will be used for the development of AMR’s Ban Phuc nickel project for which a mining license has been issued and for working capital purposes.
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