Affiliates of Malaysia Smelting Corporation Berhad Complete Sale of Shares of Asian Mineral Resources Limited

TORONTO, May 28, 2012 /CNW/ - Malaysia Smelting Corporation Berhad announced today that its affiliates Mellford Pte. Ltd. and Sword Investments Private Limited (collectively, the "Vendors") have completed the previously announced sale of common shares in the capital of Asian Mineral Resources Limited ("AMR Shares") to Pala Investments Holdings Limited ("Pala"). Pursuant to the transaction, an aggregate of 49,481,600 AMR Shares, or approximately 15.9% of the issued and outstanding AMR Shares (calculated on a non-diluted basis and on the basis of the closing of AMR's concurrent private placement of units to Pala), were sold by the Vendors to Pala at a price of CDN$0.06 per AMR Share, for aggregate gross proceeds of CDN$2,968,896.

Sharifah Faridah Abdul Rasheed
Company Secretary
Malaysia Smelting Corporation Berhad
Tel : [phone]