Asian Mineral Resources Limited Identifies Elevated PGE's Within the Ban Phuc Deposit and at by 24hgold

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Asian Mineral Resources Limited
TSX VENTURE:	ASN

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October 16, 2009

Asian Mineral Resources Identifies Elevated PGE's Within the Ban Phuc Deposit and at the Ban Mong Prospect

TORONTO, ONTARIO--(Marketwire - Oct. 16, 2009) - Asian Mineral Resources Limited ("AMR") (TSX VENTURE:ASN) has completed a geological mapping and sampling program covering the massive sulphide exposures in the underground access development excavated during 2008.

Channel sampling of the ore-body on the 270m RL level (Lower Portal - Figure 1) has identified a zone within the massive sulphide mineralisation which exhibited consistent platinum enrichment on both the east (3.62g/t) and west (4.82g/t) walls of the cross cut. The zone also carried elevated nickel & copper values. Complete results are attached and are summarized as follows:

----------------------------------------------------------------------------
Area          Location      True     Ni %   Cu %   Co %     Au     Pt     Pd
                        Width (m)                          g/t    g/t    g/t
----------------------------------------------------------------------------
Lower Portal
  270m RL        Eastern    2.20     2.66   1.18   0.08   0.18   1.24   0.08
   X/Cut            Wall                                                    
             ---------------------------------------------------------------
              Including:    0.60     2.73   1.24   0.08   0.29   3.62   0.08
             ---------------------------------------------------------------
                 Western                                                    
                    Wall    1.70     2.38   1.64   0.07   0.29   2.03   0.13
             ---------------------------------------------------------------
              Including:    0.70     5.50   2.47   0.10   0.10   4.82   0.14
----------------------------------------------------------------------------

This elevated platinum appears to be absent in the samples taken at the ore body exposures on 450 level but a desktop review of previous drilling in the lower portion of the ore-body shows 50% of the holes assayed for Platinum Group Elements showed values greater than 1g/t PGE over the full mineralised intersection.

Rob Guest, CEO stated "While it is too early to confirm whether these grades will translate into payable quantities of PGE's in the concentrate, this new data warrants further investigation first geologically and then metallurgically".

A total of 10 channel samples traversing the ore-body were collected from the 270m RL cross cut, sampling both the eastern and western walls which are approximately 8m apart. Samples are consecutive, taken perpendicularly to the ore-body and were collected using hand tools. For more detailed information regarding the Ban Phuc massive sulphide deposit please refer to "Ban Phuc Technical Report (NI 43-101) - August 2007", which can be found at www.sedar.com.

Exploration in the environs of Ban Phuc:

Exploration field work outside Ban Phuc has focussed on areas of known mineralisation with particular emphasis on the Ban Mong prospect approximately 10kms northwest of Ban Phuc (Figure 2). Rock chip sampling from exposed outcrop of the intrusion has produced assays of high grade nickel, copper with elevated PGE's.

The Ban Mong intrusion outcrops in a small creek at the base of a narrow ravine. Mapped outcrop of the intrusion strikes intermittently for over 1,000m along the edges and in the base of the creek, with observed widths ranging from 20-50m. Geologically the intrusion is a mafic/ultramafic dyke, with strong differentiation from gabbro at the south wall to peridotite in the north wall. Outcropping mineralization occurs as discontinuous lenses and pods of massive and disseminated sulphides within the dyke. A total of 11 grab samples of prospective mineralization were collected from outcrop as shown in Figure 3.

"The high nickel and copper grades encountered in the massive sulphides are encouraging, particularly as they appear to be associated with elevated PGE's. The size of intrusion together with its proximity to Ban Phuc make Ban Mong an attractive exploration target" said Rob Guest.

Ban Mong Prospect: Rock chip results

----------------------------------------------------------------------------
Sample  UTM North UTM East Rock Type    Ni %  Cu %  Co %    Pt g/t    Pd g/t
----------------------------------------------------------------------------
                           Semi                                             
499349  2347573   472540   massive     1 .16  0.17  0.05      0.19      0.13
                           sulphide                                         
----------------------------------------------------------------------------
                                                         less than less than
499350  2347601   472522   Ultramafic   0.10  0.09  0.01      0.03      0.03
----------------------------------------------------------------------------
                           Massive                                          
499351  2347677   472475   sulphide     4.89  0.07  0.13      5.02      6.66
----------------------------------------------------------------------------
                           Massive                                          
499353  2347735   472435   sulphide     4.09  0.11  0.15      2.32      4.74
----------------------------------------------------------------------------
                           Massive                                          
498430  2346880   472572   sulphide     4.61  1.20  0.13      3.80      0.53
----------------------------------------------------------------------------
                           Massive                                          
498431  2346880   472572   sulphide     1.92 12.40  0.08      4.43      0.60
----------------------------------------------------------------------------
                           Disseminated                                     
498432  2347212   472358   sulphide     0.43  1.46  0.02      0.12      0.10
----------------------------------------------------------------------------
                           Disseminated                                     
498433  2347212   472358   sulphide     0.18  0.20  0.01                    
----------------------------------------------------------------------------
498434  2346853   472613   Gossan       0.21  0.18  0.01                    
----------------------------------------------------------------------------
498435  2346880   472572   Gossan       0.26  0.93  0.01      0.22      0.57
----------------------------------------------------------------------------
                           Massive                                          
A07754  2347731   472445   sulphide     3.04  0.50  0.12      5.02     10.20
----------------------------------------------------------------------------

A 5 hole drill program of shallow scout holes has been completed (Figure 3) and will be reported in full when assay results are available. Samples have been sent to ALS Chemex in Australia for analysis.

Quality Assurance

The technical information in this press release has been reviewed by Simon Mottram, Member of the Australian Institute of Mining and Metallurgy (AusIMM) and an AMR employee. Mr. Mottram is a qualified person as defined by National Instrument 43-101.

Sample preparation and analysis is completed by ALS-Chemex, Perth, Australia. Analysis is by ICP-AES from a four acid digest, with "ore grade" Ni and Cu re-analysis of samples above a 6,000 ppm trigger point. Au, Pt and Pd are analysed by 30 gram fire assay with an ICP-AES finish. Blanks and standards are being used to monitor laboratory performance during the analysis.

Company Profile:

Asian Mineral Resources Limited has been active in Vietnam since 1993 and through its 90% owned Vietnam subsidiary Ban Phuc Nickel Mines LLC is developing the Ban Phuc sulphide deposit in Son La province, a 5 hour drive north-west of Hanoi. Construction of the project, which is targeting the production of 60,000tpa of concentrate containing nickel/copper/cobalt was suspended in October 2008 when the project was facing difficult market conditions. With over 1,000m of u/g development and 80% of all plant equipment purchased the project is approximately 65% complete and is currently under care & maintenance while awaiting improvement in the economic climate. For further information, 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 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.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/asianmineralFig1.pdf

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/asianmineralFig2.pdf

To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/asianmineralFig3.pdf

Complete Results of Channel Sampling in the Ban Phuc Lower Portal 270m RL, 2009

---------------------------------------------------------------------------
                     True                                                  
Sample              Width Location  Rock Type    Ni %      Cu %      Co %  
                     (m)                      (ME-OG62) (ME-OG62) (ME-OG62)
---------------------------------------------------------------------------
Detection Limit                                 0.001     0.001     0.001  
---------------------------------------------------------------------------
499305                1   East Face Sediment    0.052     0.174     0.002  
---------------------------------------------------------------------------
499306                1   East Face Sediment    0.511     0.837     0.016  
---------------------------------------------------------------------------
                                    Massive                                
499307               0.6  East Face Sulphide     2.73      1.24     0.082   
---------------------------------------------------------------------------
499308                              Standard                                
---------------------------------------------------------------------------
                                    Massive                                 
499309               0.6  East Face Sulphide     6.18      1.68     0.178   
---------------------------------------------------------------------------
499310                1   East Face Sediment    0.035     0.027     0.002   
---------------------------------------------------------------------------
499311                1   East Face Sediment    0.075     0.038     0.003   
---------------------------------------------------------------------------
499319                1   West Face Sediment    0.167     0.058     0.006   
---------------------------------------------------------------------------
499320                1   West Face Sediment    0.023     0.018     0.001   
---------------------------------------------------------------------------
                                    Massive                                 
499321               0.7  West Face Sulphide      5.5      2.47     0.165   
---------------------------------------------------------------------------
499322                1   West Face Sediment    0.195      1.06     0.006   
---------------------------------------------------------------------------

---------------------------------------------------------------------------
                        Au ppm        Pt ppm        Pd ppm        Wt. Kg    
Sample               (PGM-ICP27)   (PGM-ICP27)   (PGM-ICP27)     (WEI-21)   
---------------------------------------------------------------------------
Detection Limit          0.03          0.03          0.03          0.02     
---------------------------------------------------------------------------
                                     less than     less than                
499305                   0.05          0.03          0.03          2.16     
---------------------------------------------------------------------------
499306                   0.21          0.55          0.05          2.96     
---------------------------------------------------------------------------
499307                   0.29          3.62          0.08          2.58     
---------------------------------------------------------------------------
499308                                                             0.04     
---------------------------------------------------------------------------
                                     less than                              
499309                   0.03          0.03          0.13          3.28     
---------------------------------------------------------------------------
                       less than     less than     less than                
499310                   0.03          0.03          0.03          3.08     
---------------------------------------------------------------------------
                       less than     less than     less than                
499311                   0.03          0.03          0.03           2.8    
---------------------------------------------------------------------------
                       less than     less than     less than                
499319                   0.03          0.03          0.03          2.77     
---------------------------------------------------------------------------
                       less than     less than     less than               
499320                   0.03          0.03          0.03          2.41     
---------------------------------------------------------------------------
499321                    0.1          4.82          0.14          2.66     
---------------------------------------------------------------------------
499322                   0.42          0.08          0.12           2.3    
---------------------------------------------------------------------------

The TSX Venture Exchange has not reviewed, and does not accept responsibility, for the adequacy or accuracy of this news release.

CONTACT INFORMATION:

Asian Mineral Resources Limited
Rob Guest
CEO
+84 4 3773 7997
Fax: +84 4 3773 7996
rguest@banphucnickel.vn

or

Asian Mineral Resources Limited
Paula Kember
CFO
416 360 3412
Fax: 416 367 1954
info@asianminres.com

INDUSTRY: Manufacturing and Production - Mining and Metals

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