Aorere’s Asian Minerals announces cobalt royalty deal

New Zealand Exchange Limited P.O. Box 2959 Wellington 24 April 2017 Dear Sir, Aorere's Asian Minerals announces cobalt royalty deal Asian Mineral Resources ("ASN") is Aorere's second largest investment. This shareholding represents 25% of Aorere's total assets at ASN's current market value of 3.0 cents in Canada. ASN made the following announcement in Canada overnight which heralds a period of likely change for the company. Aorere is still represented on the board continuing a 17 year involvement by Aorere with this company. For and on behalf of the Board, Chris D Castle Managing Director Aorere Resources Limited Asian Mineral Resources Enters Into Net Smelter Return Royalty for Cobalt TORONTO, ONTARIO--(Marketwired - April 24, 2017) - Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE:ASN) is pleased to announce that it has entered into a net smelter royalty return agreement (the "NSR Agreement") with Cobalt 27 Capital Corp. ("Cobalt 27") related to the sale of cobalt by AMR from its Ta Khoa concession in Vietnam. Under the terms of the NSR Agreement, AMR will receive C$300,000 equivalent in common shares of Cobalt 27 in exchange for granting Cobalt 27 a 3% net smelter return on sales of cobalt from the Ta Khoa concession. The price per common share will be equal to the price per common share offered by Cobalt 27 pursuant to its offering of common shares (the "Cobalt 27 Offering") under its preliminary prospectus dated April 21, 2017. Receipt of the common shares from Cobalt 27 as payment and the effectiveness of the NSR Agreement is dependent on certain matters being completed, including the receipt of material third party consents and the closing of the Cobalt 27 Offering, on or before September 30, 2017. ABOUT AMR AMR owns and operates one of the world's few sources of nickel sulphide ore, and is exploring for additional high-grade nickel assets in Vietnam. AMR commenced commercial production from its 90%- owned Ban Phuc Nickel Mine in Vietnam in mid-2013. As of 30 June 2016, the Ban Phuc Nickel Mine has produced a total of c. 20,000 tonnes of nickel and c. 10,000 tonnes of copper contained in concentrate, plus a cobalt by-product since the beginning of its mine life. Mining and processing operations at Ban Phuc were suspended in September 2016 and operations were transitioned to a care and maintenance scenario. In addition to in and near-mine expansion projects, Ban Phuc provides a platform from which AMR can continue to focus on developing a new nickel camp within its 150km2 of concessions located throughout the highly-prolific Song Da rift zone, where AMR has a number of advanced-stage nickel exploration targets. For further details on AMR, please refer to the technical report entitled "NI 43-101 Technical Report - Ban Phuc Nickel Project" dated February 15, 2013 available on SEDAR or the AMR website www.asianmineralres.com. For further information Paula Kember Chief Financial Officer Telephone: +1 (416) 360-3412 End CA:00300213 For:AOR Type:GENERAL Time:2017-04-26 08:30:16