Widespread's Asian Minerals appoints new Toronto based CEO
Asian Mineral Resources ("ASN") is Widespread's largest investment, representing 73.1% of total assets at its present market value of Cdn $1.70 a share.
ASN announced last night in Canada that Toronto based Collin Ellison will become President and CEO of ASN, effective on 4 August 2008. Although he will be commuting to Vietnam on a regular basis, his presence in Toronto will markedly improve the visibility of ASN to Canada based investors.
The complete ASN announcement follows.
For and on behalf of the Board,
Chris D Castle
Onekaka, 16 May 2008
ASIAN MINERAL RESOURCES LIMITED - NEW CHIEF EXECUTIVE OFFICER
Toronto, Ontario - May 15, 2008. Asian Mineral Resources Limited ("AMR" or the "Company") (ASN-TSX Venture) announced today that Collin Ellison will become President and CEO of AMR effective August 4, 2008. Mr. Ellison is a mining engineer with over 30 years' experience in the mining industry, having served most recently as President and CEO of Goldbelt Resources Ltd. During his career, Mr. Ellison has been involved in the development and operation of surface and underground mines in developed and developing countries in various parts of the world. He replaces Rob Thomson, who steps down for family reasons but will remain as a director of AMR and will provide consulting services to the Company's Ban Phuc nickel project, which is scheduled to begin production early in 2009.
"We welcome Collin to the AMR team where his leadership and mining project building experience in various parts of the world will be invaluable and, with a base in our new Toronto office, will generally add to our stature and recognition in the Canadian market place," commented Jim Askew, AMR's Chairman. "I would also like to take this opportunity to thank Rob Thomson for all his hard work in getting us to where we are today. Rob's services will continue to be available to us on our Ban Phuc nickel mine, which is now in development, with underground mine development in full swing and mill construction getting ready for pouring of component foundations.
Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in north-western Vietnam in which it has a 90% interest. The Project is scheduled for commercial concentrate production in the first half of 2009.
For further details on the Company and the Project, please refer to the website at www.asianminres.com or contact:
Jim Askew, Chairman
120 Adelaide Street West, Suite 2500
Toronto, ON M5H 1T1
T: 416 360 3412
F: 416 367 1954
E: email@example.com Asian Mineral Resources Limited
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Asian Mineral Resources Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Asian Mineral Resources Limited's expectations are disclosed under the heading "Risk Factors" and elsewhere in Asian Mineral Resources Limited documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this