AMR – High-Grade Nickel, Sustained Cash Generation, Strong Expansion Potential

Thanks to our high-grade nickel mine and high-capacity processing centre, Asian Mineral Resources has made sixteen shipments of nickel-copper-cobalt concentrate over the past twelve months. That’s a full year of strong, sustained cash generation from one of the world’s few new sources of nickel production. We are ahead of schedule, have minimized our costs and each shipment of concentrate has been made on spec.

For anyone new to the Asian Mineral Resources story, we’re a high-grade, low cost nickel producer and mineral explorer in the prolific nickel/copper Song Da rift region of north-western Vietnam. Taking into account exploration, development and mining/processing, we have been operating successfully in the country for a number of years and our operations benefit from government support, low local labor costs, simple logistics and cheap hydroelectric grid power direct to site.

We’re excited by the milestones we’ve hit in the past year and also with the exploration and development potential emerging at Ban Phuc. With that in mind, I wanted to touch on the state of play and growth opportunities.

Steadily Increasing Production: Our total production exiting 2014 was8,133 tonnes of nickel, 3,776tonnes of copper and 200 tonnes of cobalt per annum and we’re expecting those numbers to increase this year.

Ore Body Expansion: Ban Phuc’sMSV, which has an average reserve grade of 2.2% Ni, 1.0% Cu and 0.05% Co, remains open laterally with well-progressed satellite deposits.

Local and Regional Expansion: Asian Mineral Resources holds concessions across 150km2 land package surrounding the Ban Phuc mine/processing centre. We have multiple local and regional targets, some as close as 1km from our processing facility. First-pass drilling at key locations, such as the Kingsnake Deposit, has hit intervals such as 3.3% Ni; 1.02% Cu; 2.16 g/t PGE over 0.96m (downhole anomaly in hole) – see slide 7 of our corporate presentation from November 2014 for more drilling details.

Smelter: A smelter will give us the ability to create nickel matte – a high quality product with an export tariff of 5% (compared to 20% for concentrate), a significant reduction in transport costs and potential for improved offtake terms. Positive preliminary studies have been completed and there is very strong government support.

M&A: Our track record in Vietnam in recent years has enabled us to build strong in-country relationships – from the local community up to the national government. The trust we have established, together with a reputation for operational excellence and a superb cash-generating platform (Ban Phuc mine and processing centre), gives us the potential for growth through M&A.

You will find a lot more detail on our activity in our corporate presentation as well as on the project and operations of our website and I recommend taking a look through. I’ll also be going into more depth about our operations and expansion opportunities over the coming months.

Evan Spencer, CEO of Asian Mineral Resources



Forward-Looking Information: Some of the posted entries on the CEO Blog may contain forward-looking statements. Forward-looking statements address future events and conditions which involve inherent risks and uncertainties. Actual results could differ materially from those expressed or implied by them. Important factors that could cause actual results to differ materially from Asian Mineral Resources‘ expectations are disclosed under the heading "Risk Factors" in Asian Mineral Resources‘Annual Information Form and elsewhere in Asian Mineral Resources‘ documents filed with the TSX Venture Exchange and other regulatory authorities. Examples of forward looking information and assumptions include future estimates of the worldwide supply and demand for nickel and the effect that these changes could have on the short term and long term price of uranium nickel on the world markets.

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