Effective November 3, 2008 operations at the Ban Phuc Nickel Project will be suspended, and placed on a care and maintenance basis. All expenditures will be reduced to preserve corporate functionality and existence until mid-2009 without additional cash infusion other than a substantial VAT refund. During this period AMR will revise the Ban Phuc Project model to reflect a later start-up date and other considerations. In addition the Company will continue with discussions with the Vietnamese government regarding a number of issues and with potential providers of the finance required for Project completion and other activities.

Collin Ellison, President and CEO of Asian Mineral Resources comments "While we are disappointed not to be in a position to proceed with Ban Phuc Project development and other activities as originally planned, we are in the fortunate position of having sufficient cash resources to implement the new strategy.  We have been impacted adversely by factors affecting mineral project development worldwide and also by issues specific to Vietnam that require resolution if we are to achieve our original objectives. We and our Vietnamese joint venture partner, Coxama, will be meeting shortly to discuss the implementation of the new strategy as it relates to the Ban Phuc Project."