Asian Mineral Resources Update on Strategic Review for Ban Phuc Nickel Mine

24 April 2018

TORONTO, April 24, 2018 -- Asian Mineral Resources Limited (“AMR” or the “Company”) (TSX-V:ASN) advises shareholders that it has entered into a further loan agreement with Pala Investments Limited (“Pala”), a shareholder of AMR, to assist with funding of redundancy payments to the employees of its subsidiary Ban Phuc Nickel Mines LLC (“BPNM”). The loan is for an aggregate principal amount of US$380,000.00, has a fixed maturity date of March 31, 2019 and carries an interest rate of 5% per annum payable on maturity. In addition, the loan is unsecured and the Company may at any time repay some or all of the loan (without restriction or prepayment charges). The loan will be used to pay employee termination payments and receivables to prepare BPNM for potential restructuring or liquidation.

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