Open Pit Potential

Amur Minerals Corporation
06 July 2006

6th July 2006


                           Amur Minerals Corporation
                           ('Amur' or 'the Company')


              SRK Consulting Confirms Kun-Manie Open Pit Potential


Amur Minerals Corporation (AIM:AMC), the nickel copper exploration company with
assets in far east Russia, announce that it has received SRK Consulting's
conceptual mining study on its Kun-Manie nickel project located in the Amur
Province.  Results of this study confirm that the indicated and inferred
resources within the Vodorazdelny and Ikenskoe ore bodies have the potential to
be recovered using conventional open pit mining methods.  This conceptual study
provides the beginning of the basis for establishing several of the key
operating parameters including potential nominal plant capacities, mining
production fleets and schedules and infrastructure requirements.  These
operating parameters will be used in the final Request for Proposal ('RFP') for
the Pre-Feasibility study to be compiled over the next 12 to 18 months.

The results of this study are based on the indicated and inferred resource
determined as at 31 December 2005 which is contained within the Competent
Person's Report by SRK Consulting ('SRK'), reported in accordance with JORC Code
definitions and guidelines as set out in the Company's March 10, 2006 Admission
Document.  In summary, SRK's resource estimate comprises an Indicated Mineral
Resource of 28.4Mt with mean grades of 0.47% nickel and 0.13% copper and an
Inferred Mineral Resource of 17.7Mt with mean grades of 0.43% nickel and 0.12%
copper together containing approximately 209,000 tonnes of nickel and 58,500
tonnes of copper.

Commenting on the results of the study, CEO Robin Young stated, 'We are
extremely pleased with the results obtained by SRK Consulting's conceptual
evaluation of the open pit potential of the Kun-Manie project.  This work serves
as a major milestone for the Company.  It allows us to go forward with
confidence that certain assumptions within the planned Pre-Feasibility study are
reasonable and that the mineralisation contained within the two ore bodies
identified to date represents a substantial base for determination of the
economic potential of Kun-Manie.  It is also encouraging that the potential of
this area is contained along only five kilometres of the 40 kilometer long
Krumkon trend.  The remainder of the trend contains additional mineralised zones
requiring drilling and additional geological investigative work.  In fact, this
year the Company has drilled one of these targets (Maly Krumkon) located to the
west of Vodorazdelny and are awaiting the final analytical results.'

The Company requested three conceptual pits be derived based upon the resources
stated above, existing preliminary metallurgical test work and potential
operating costs taken from a historical database of flotation process plants
compiled by Western Mine Engineering Inc. ('WME'), USA. The open pit conceptual
study included both indicated and inferred resources. According to the JORC
Code, inferred mineral resources cannot be converted to ore reserves but were
included in this conceptual mining study in order to highlight to the Company
the potential of the two orebodies defined and where further exploration would
be warranted in order to improve the confidence level on the resources.  Table 1
presents the operational parameters used in the conceptual study.



                                    Table 1

                       Conceptual Ultimate Pit Parameters

        Parameter               Base        Increased      Increased                      Source
                                           Metal Price   Operating Cost
                                Case         Scenario       Scenario

  Final pit slope angle      50 degrees     50 degrees     50 degrees                      AMUR

 Metallurgical recoveries                                                           Sibsvetmetniproyect

         Nickel(1)             85.4%          85.4%          85.4%         (Preliminary metallurgical test work)

          Copper               82.1%          82.1%          82.1%

         Platinum              85.0%          85.0%          85.0%

        Palladium              85.0%          85.0%          85.0%

         Cobalt(2)             80.0%          80.0%          80.0%

     Operating costs                                                           Western Mine Engineering Inc.

          Mining             US$1.40/t      US$1.40/t      US$1.75/t              (2004 Reference Manual)

        Processing           US$6.00/t      US$6.00/t      US$7.50/t

General and Administration   US$3.00/t      US$3.00/t      US$3.75/t

     Commodity Prices                                                                       SRK

          Nickel             US$8,800/t    US$11,000/t     US$8,800/t

          Copper             US$2,200/t     US$4,000/t     US$2,200/t

         Platinum            US$500/oz      US$950/oz      US$500/oz

        Palladium            US$100/oz      US$250/oz      US$100/oz

         Cobalt(2)          US$20,000/t    US$40,000/t    US$20,000/t



Notes:

1 Nickel smelter and refining charges factored into pit optimisation by reducing
effective metal recovery to 57%.

2 Cobalt is included in the pit optimisation parameters to define the final pit;
however, it is not included in the SRK resource estimate and therefore not
reported in any subsequent tables.

3 Ore losses and dilution were not taken into account as part of this study.



The results of the base case scenario final pits are summarised below in Table
2. In summary, out of the total indicated and inferred resource of 46.1Mt in
both orebodies some 35.5Mt (77%) fall within the final pit limits. These
encompass some 83% of the contained nickel and 82% of the contained copper in
the total resource. For both orebodies combined, the overall stripping ratio of
waste to ore is approximately 3.4:1.



                                    Table 2

                          Base case final pit results

      Orebody          Tonnage     Ni       Ni       Cu      Cu       Pt     Pt     Pt     Pt
                        (Mt)      (%)      (t)      (%)      (t)    (g/t)   (kg)  (g/t)   (kg)
    Vodorazdelny
    SRK Resource        10.7      0.61    65,400    0.17   18,700    0.2   1,800   0.2   1,600
     Ore in pit          9.0      0.64    57,800    0.18   16,400    0.2   1,500   0.2   1,400
       Waste            10.1
 Total material in      19.1
        pit
    Strip ratio          1.1

      Ikenskoe
    SRK Resource        35.4      0.41   143,600    0.11   39,800    0.1   4,600   0.2   5,600
     Ore in pit         26.5      0.44   116,600    0.12   31,600    0.2   4,000   0.2   4,700
       Waste            111.1
 Total material in      137.6
        pit
    Strip ratio          4.2

       Total
    SRK Resource        46.1      0.45   209,000    0.13   58,500    0.1   6,400   0.2   7,200
    Ore in pits         35.5      0.49   174,400    0.14   48,000    0.2   5,500   0.2   6,100
    Total Waste         121.2
 Total material in      156.7
        pits
    Strip ratio          3.4



The results of the increased metal prices on the final pits are summarised below
in Table 3. In summary, out of the total indicated and inferred resource of
46.1Mt in both orebodies some 38.9Mt (84%) fall within the final pit limits.
These encompass some 89% of both the contained nickel and copper in the total
resource. For both orebodies combined, the overall stripping ratio of waste to
ore is approximately 3.9:1.



                                    Table 3

                     Increase metal price scenario results


      Orebody          Tonnage     Ni       Ni       Cu      Cu       Pt     Pt     Pt     Pt
                        (Mt)      (%)      (t)      (%)      (t)    (g/t)   (kg)  (g/t)   (kg)
    Vodorazdelny
    SRK Resource        10.7      0.61    65,400    0.17   18,700    0.2   1,800   0.2   1,600
     Ore in pit          9.6      0.61    58,700    0.18   16,700    0.2   1,600   0.2   1,500
       Waste            10.9
 Total material in      20.5
        pit
    Strip ratio          1.1

      Ikenskoe
    SRK Resource        35.4      0.41   143,600    0.11   39,800    0.1   4,600   0.2   5,600
     Ore in pit         29.3      0.43   126,500    0.12   34,700    0.1   4,300   0.2   5,000
       Waste            140.8
 Total material in      170.1
        pit
    Strip ratio          4.8

       Total
    SRK Resource        46.1      0.45   209,000    0.13   58,500    0.1   6,400   0.2   7,200
    Ore in pits         38.9      0.48   185,200    0.13   51,400    0.2   5,900   0.2   6,500
    Total Waste         151.7
 Total material in      190.6
        pits
    Strip ratio          3.9



The results of the increased operating costs on the final pits are summarised
below in Table 4. In summary, out of the total indicated and inferred resource
of 46.1Mt in both orebodies some 31.6Mt (69%) fall within the final pit limits.
These encompass some 77% of the contained nickel and 76% of the contained copper
in the total resource. For both orebodies combined, the overall stripping ratio
of waste to ore is approximately 3.0:1.



                                    Table 4

                   Increased operating cost scenario results

      Orebody          Tonnage     Ni       Ni       Cu      Cu       Pt     Pt     Pt     Pt
                        (Mt)      (%)      (t)      (%)      (t)    (g/t)   (kg)  (g/t)   (kg)
    Vodorazdelny
    SRK Resource        10.7      0.61    65,400    0.17   18,700    0.2   1,800   0.2   1,600
     Ore in pit          8.3      0.68    56,600    0.19   15,900    0.2   1,500   0.2   1,300
       Waste             9.4
 Total material in      17.7
        pit
    Strip ratio          1.1

      Ikenskoe
    SRK Resource        35.4      0.41   143,600    0.11   39,800    0.1   4,600   0.2   5,600
     Ore in pit         23.4      0.45   104,800    0.12   28,800    0.2   3,600   0.2   4,100
       Waste            86.8
 Total material in      110.2
        pit
    Strip ratio          3.7

       Total
    SRK Resource        46.1      0.45   209,000    0.13   58,500    0.1   6,400   0.2   7,200
    Ore in pits         31.7      0.51   161,400    0.14   44,700    0.2   5,100   0.2   5,400
    Total Waste         96.2
 Total material in      127.9
        pits
    Strip ratio          3.0

Ends

Enquiries:


Amur Minerals Corp.              Nabarro Wells & Co. Limited        Parkgreen Communications
Robin Young                      John Wilkes                        Justine Howarth /
CEO                              Director                           Victoria Thomas

[phone]             [phone]               [phone]



Notes to Editors

The Amur Group's principal asset is the 100% owned Kun-Manie exploration
licence, a nickel-copper-PGM deposit located in the Amur Province in the far
east of the Russian Federation.  The Kun-Manie licence area is approximately 950
km(2) and is located 700 km northeast of the capital city of Blagoveshchensk and
is 750km north of the Chinese border.  In April 2004 ZAO Kun-Manie, a wholly
owned subsidiary of Amur, was granted a licence to explore for nickel and
related metals, including copper and platinum, in respect of the Kun-Manie
licence.

Work carried out to date on the Kun-Manie licence including diamond core
drilling, trenching and geological mapping has identified three mineralised
targets, the Vodorazdelny, Ikenskoe and Falcon zones each of which warrant
further exploration.  The three deposits are located within a five kilometer
long segment of the 40 kilometre long Krumkon Trend which is the primary
exploration target within the licence area.  An additional three targets
identified as Maly Krumkon, Chornie Ispelene and Kubuk have been identified
within the trend and require additional geological investigation and drilling.
In combination, the six zones are located along approximately 50% of the length
of the Krumkon Trend whilst the remainder of the trend also contains additional
potential based on geochemical sampling and geological mapping which has
identified anomalously mineralized host structures needing additional
reconnaissance and detailed exploration work.

To date and within 10- 15% of the Krumkon host structure, detailed exploration
and an independently calculated resource estimate compiled by SRK Consulting
indicates the presences of Indicated and Inferred resources.  These are
contained within the two deposits of the Vodorazdelny and Ikenskoe zones. As
disclosed in the Competent Person's Report within the Amur Admission Document
dated 10th March 2006, these total some 46.1Mt at a mean grade of 0.45% nickel,
giving 209,000 tonnes of contained nickel; 0.13% copper, giving 58,500 tonnes of
contained copper.



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