Asian Mineral Resources will use the proceeds of a Can$8.2 million private placement to progress its Ban Phuc Nickel Project in Vietnam.

The company has received Can$4.1 million as proceeds of the first tranche of the placement and will receive the second tranche before the end of the year.

Asian Mineral Resources president and CEO Rob Thomson says: "We are pleased to have received this infusion of funds, which also broadens our shareholder base.

"We are are also pleased with the progress being made in obtaining the mining licence and related activities. Son La Province has requested that the Ministry of Natural Resources and Environment in Hanoi issue the mining licence and is supportive of recently filed applications for new exploration licences covering 98sqkm of the 150sqkm Ban Phuc project area."

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