ASIAN MINERAL RESOURCES LIMITED

Asian Mineral Resources announced the completion of a non-brokered private placement of 59,000,000 units each consisting of one common share and one whole warrant to purchase a common share at $0.15 for 12 months from its issue date. The common shares and warrants and any common shares issuable on the exercise of the warrants are subject to a hold period expiring on May 8, 2010. The units were issued at $0.10 a unit for gross proceeds of Cdn$5,900,000.