Asian Mineral Resources Announces Change in Board of Directors
TORONTO, ONTARIO -- (Marketwire) -- 07/12/10 -- Asian Mineral Resources Limited (the 'Company') (TSX VENTURE: ASN) announced today that, following the July 9 Annual Shareholders Meeting the board of directors now consists of Mun Keong Choo, Chairman of the Board, Mark Arnesen, Christopher Castle, William Howell and Fook Hoy Lai.
Mr. Arnesen is a chartered accountant with over 20 years experience in the international resources industry, including employment with the Billiton/Gencor group as corporate Treasurer from 1996 to 1998. In 2000 he joined Ashanti Goldfields Company Limited as Managing Director - Internal Treasury and held the position until 2004. From 2004 until 2006 he worked with Equinox Minerals Limited and put in place the Lumwana project financing. In November 2006 he joined Moto Goldmines Limited as the Financial Director and held the position until the company was taken over by Randgold Resources Limited in late 2009.
Fook Hoy Lai has broad and in depth knowledge of technical, operational, financial and commercial aspects of the metals industry. He was previously the Group Chief Operating Officer, Malaysia Smelting Corporation Berhad. Fook Hoy Lai graduated with BSc (Hons) in Metallurgy and the University Medal from the University of New South Wales in 1974, and subsequently a BSc (Econs) (Hons) degree majoring in Accounting and Finance from the University of London in 1980. He is a member of the Institute of Materials, Minerals and Mining, and a registered Chartered Engineer with the Engineering Council UK. He is also a member of the Institution of Engineers, Malaysia, and Professional Engineer, registered with the Board of Engineers, Malaysia.
Shareholders at the meeting voted in favour of continuing the Company's Stock Option Plan and against continuation of the Company's Shareholder Rights Plan which has now expired.
'Mark Arnesen and Fook Hoy Lai will bring significant experience to the board as we move forward with the Ban Phuc Project' commented the new Chairman of the Board, Mun Keong Choo. 'I would also like to take this opportunity to thank my predecessor Jim Askew for his contribution to the Company during the past five years.'
Company Profile:
Asian Mineral Resources Limited has been active in Vietnam since 1993 and through its 90% owned Vietnam subsidiary Ban Phuc Nickel Mines LLC is developing the Ban Phuc sulphide deposit in Son La province 5 hours drive north-west of Hanoi. Construction of the project, which is targeting the production of 60,000tpa of concentrate containing nickel/copper/cobalt was suspended in October 2008 when metal prices were under pressure from the world financial crisis. With over 1,000m of u/g development and 80% of all plant equipment purchased, the project is approximately 65% complete and is currently under care & maintenance pending receipt of funding to complete construction. For further information, please refer to the company website at www.asianminres.com.
Contacts:
Asian Mineral Resources Limited
Rob Guest
CEO
+84 4 3773 7997
+84 4 3773 7996 (FAX)
rguest@banphucnickel.vn
Asian Mineral Resources Limited
Paula Kember
CFO
416 360 3412
416 367 1954 (FAX)
info@asianminres.com