INCREASES OWNERSHIP TO 90% OF THE BAN PHUC NICKEL PROJECT, VIETNAM

Asian Mineral Resources Limited (TSXV:ASN) announces that it has acquired an additional 20% project ownership in the Ban Phuc Nickel Project (”Project”), Vietnam for US$2.5 million. The 20% interest acquisition from founding joint venture partner, Mineral Development Company, was made in accordance with the terms of the July 12, 2005 definitive Purchase Agreement, thereby increasing ASN’s interest to 90%. The remaining 10% Project ownership will continue to be held by the Provincial based joint venture partner, Mechanical Engineering Company of Son La Province, Vietnam.

ASN has secured its 90% Project ownership by making the required payment of 80% of the purchase price. The final payment is due on the issuance of mining approvals for the Project which are expected before the end of the year. The Vietnamese Ministry of Planning and Investment has issued an amended Foreign Investment License that encapsulates ASN’s new 90% ownership position.

”I’m delighted with this result as it clearly demonstrates ASN’s capability to transact business in Vietnam and increase shareholder value ahead of the Project’s construction and development”, said Mr. David Woodhouse, President and CEO of ASN. ”Our joint venture partners and all levels of the Vietnamese Government have been enormously supportive of ASN, a positive testament to a burgeoning Vietnam.”

Company Profile:

Asian Mineral Resources Limited is currently engaged in the exploration and development of the Vietnamese located Ban Phuc Nickel Project in which it now has a 90% interest. The Project is part of a granted Foreign Investment License covering 150 square kilometres of highly prospective ultramafic hosted nickel occurrences. The Company expects to receive its mining license by the end of 2006 and is directing its Project implementation efforts accordingly. Negotiations with project financiers, engineering, construction, and smelter groups continue.

For further details on the Company and its projects please refer to the website at www.asianminres.com or contact:

David Woodhouse, President & CEO; or,

Kate Black, Grove Communications

Tel: (416) 360-3412
Fax: (416) 362-6830

144 Front Street West Suite 780 Toronto, ON M5J 2L7

Canada