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Closing of $10,000,000 Private Placement With Pala Investments and Lion
Published : December 18, 2012
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Keywords :   Mineral Resources | Nickel | Total |

TORONTO, ONTARIO--(Marketwire - Dec. 18, 2012) - Asian Mineral Resources Limited ("AMR") (News - Market indicators) 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Asian Mineral Resources Limited
Paula Kember
Chief Financial Officer
(416) 360-3412
www.asianminres.com
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Asian Mineral Resources Limited

EXPLORATION STAGE
CODE : ASN.V
ISIN : CA0451731016
CUSIP : 045173101
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Annual reports of Asian Mineral Resources Limited
2007 Annual Report
Financings of Asian Mineral Resources Limited
3/28/2013Successful Closing of $12,500,000 Rights Offering
2/15/2013Files Final Rights Offering Prospectus
12/18/2012Closing of $10,000,000 Private Placement With Pala Investmen...
10/11/2012Announces Private Placement With Pala Investments and Lion
1/7/2010Completion of Private Placement
12/1/2009Private Placement & Board Appointment
7/2/2009Completes Private Placement
6/15/2009Confirms Private Placement
5/29/2009Announces Proposed Private Placement
4/28/2008-Malaysia Smelting Corporation Exercises Warrants
Nominations of Asian Mineral Resources Limited
10/24/2013Share Compensation Agreements and Payment of Directors' Fees...
6/24/2013Announces Appointment of Chief Financial Officer
10/2/2012Announces Appointment of Chief Executive Officer
3/18/2009Appoints New CEO
6/10/2008Appoints New Director
Project news of Asian Mineral Resources Limited
6/9/2010(Banphuc)Increase to the Ban Phuc Massive Sulphide resource
10/16/2009(Banphuc)Identifies Elevated PGE's Within the Ban Phuc Deposit and at
7/22/2008(Banphuc)Outlines Export Tariff Increase Impact on Ban Phuc Nickel Pr...
Corporate news of Asian Mineral Resources Limited
10/7/2013Issuance of Shares
8/23/2013Grants of Stock Options
7/24/2013Announces Closing of its Project Debt with LienViet Post Ban...
7/11/2013Announces Results of Annual & Special Meeting
7/2/2013Share Compensation Agreements
2/5/2013Announces $12,500,000 Rights Offering, Re-Filing of Interim ...
1/10/2013Welcomes Favourable Export Tariff for Nickel Matte
1/4/2013Receives Extension of Permission to Export Nickel Concentrat...
11/16/2012Grant of Stock Options
11/4/2010Announces Management Changes
9/11/2009Payment of Directors Fees in Shares
5/19/2009Adjustment to Export Restrictions for Ban Phuc
11/3/2008Revised Corporate Strategy
10/1/2008Typhoon 'Hagupit' Impact on the Ban Phuc Project
9/26/2008Ban Phuc Project Suspension
9/4/2008Ban Phuc Project Development Progress Update
7/14/2008Closes Financing
6/12/2008Comments on Increase in Tariff on Nickel Exports
5/15/2008New Chief Executive Officer
5/5/2008-Jinchuan Offtake and Subscription Agreements
4/8/2008 Grants Share Options
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TSX-V (ASN.V)
0.075+0.00%
TSX-V
CA$ 0.075
07/24 12:39 -
0%
Prev close Open
0.080 0.075
Low High
0.075 0.075
Year l/h YTD var.
0.050 -  0.110 7.14%
52 week l/h 52 week var.
0.020 -  0.110 150.00%
Volume 1 month var.
8,000 25.00%
24hGold TrendPower© : 44
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