Widespread's Asian Minerals appoints new director
Asian Mineral Resources ("ASN") is Widespread's largest investment, representing 70.9% of total assets at its present market value of Cdn $1.51 a share.
ASN announced last night in Canada that Koala Lumpur based Choo Mun Keong has been appointed a director. This appointment follows the acquisition by Malaysian Smelting Corporation of a 20% shareholding in ASN.
The complete ASN announcement follows.
For and on behalf of the Board,
Chris D Castle
Auckland, 11 June 2008
Asian Mineral Resources: Appoints New DirectorTORONTO, ONTARIO--(Marketwire - June 10, 2008) - Asian Mineral Resources Limited ("AMR" or the "Company")(TSX VENTURE:ASN) announced today that its board of directors has been strengthened with the addition of Choo Mun Keong to the board of directors of the Company. Choo Mun Keong is the head of the strategic planning and investments for the MSC Group ("MSC"), a significant shareholder of the Company, and is an experienced geologist with expertise in international exploration and resources investment.
Malaysian-based MSC is one of the world's largest integrated producers of tin metal and tin-based products with interests in mining, smelting and downstream manufacturing. It has mining and smelting operations in Malaysia and Indonesia. MSC is listed on the main board of Bursa Malaysia Securities (Kuala Lumpur Stock Exchange) and is a 73.16% subsidiary of The Straits Trading Co ("STC"), a Singapore Stock Exchange listed company. STC is focused on hotel development and management, financial investments, property development and investments, and metals and mineral resources. It is currently capitalized at around $1.6 billion.
"We welcome Choo to the Board of Directors, for his broad international experience in exploration and resource development, and his specific extensive experience of the Asian business environment" commented Jim Askew, AMR's Chairman.
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 atwww.asianminres.com
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.