Asian Mineral Resources Shares for Debt Transaction

Asian Mineral Resources Limited

(the “Company”) (ASN-TSXV) is pleased to announce that the Company has closed the second tranche of its non-brokered financing, previously announced on July 16th.  The Company issued 4,800,000 units at a price $0.075 per unit, for $360,000 in a transaction categorized as Shares for Debt. The debt relates to Subscription Advances made by investors as disclosed in a news release on October 11, 2018.  Each unit will consist of one common share of the Company, and one common share purchase warrant entitling the holder to acquire one common share at a price of $0.10 per common share for 24 months following the closing.  All securities issued pursuant to the private placement will be subject to a four-month hold period.

Proceeds of the private placement will be used to investigate new business opportunities and for ongoing administrative expenditures.

For further information:

Paula KemberChief Financial OfficerTelephone: [phone]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.