Asiamet Resources Limited : Director/PDMR Share...

Notification of Changes in Substantial and Significant Shareholdings

Asiamet Resources Limited ("Asiamet" or "the Company") wishes to advise that Tigers Realm Minerals Pty Ltd. ("Tigers"), a private investment Company in which Mr. Tony Manini, the Deputy Chairman, CEO, and a Director of Asiamet is a shareholder, notified the Company on November 11, 2016 that in line with its corporate strategy, shareholdings in the listed companies it has invested in and supported during their pre-development phase, namely Tigers Realm Coal, Nexgen Energy and Asiamet Resources, will be distributed pro-rata to the underlying shareholders of Tigers. The majority of Tigers shareholders are existing shareholders and strong ongoing supporters of Asiamet.

From a total holding of 60,679,486 common shares in the Company, a total of 59,832,600 of those common shares were distributed to the underlying shareholders of Tigers (the "Tigers Distribution") on November 10, 2016 and as a result Tigers is no longer a substantial shareholder or significant shareholder as defined in the AIM Rules for Companies.

As part of the Tigers distribution, Mr. Tony Manini received a total of 6,256,802 Asiamet common shares and becomes a substantial shareholder of Asiamet.  Mr. Manini now holds a total of 21,159,001 (3.40%) of the common shares in the Company of which 156,902 are held directly, 10,772,117 common shares are held by Antman Holding Pty Ltd and 10,229,982 common shares are held by A.J.M. Investco Pty Ltd.  

Also pursuant to the Tigers Distribution substantial shareholders Asipac Group Pty Ltd. ("Asipac") and Namarong Investments Pty Ltd. increased their respective shareholdings in the Company. Asipac received 412,130 common shares and now owns 21,428,000 common shares (3.44%) in the Company while Namarong Investments Pty Ltd. received 2,843,693 common shares and now owns 23,137,331 common shares (3.71%) in the Company.

Tony Manini, Asiamet's Chief Executive Officer commented:

"The notified changes in substantial shareholding are very much anticipated and in line with Tigers corporate strategy through which it was welcomed onto the Asiamet register following the Company's acquisition of the Beutong copper project. Despite the cyclical downturn and market challenges experienced by all resource companies over the past few years, Tigers shareholders both individually and as a group have continued to invest in Asiamet's high quality projects and team throughout the cycle. This strong ongoing support coupled with that of existing and new shareholders has enabled Asiamet to position very strongly for the next upcycle in the copper market which we firmly believe is not far away. We are looking forward to creating substantial value for all shareholders through the delivery of the BKM feasibility and the development of our projects into highly profitable and sustainable mining operations"

ON BEHALF OF THE BOARD OF DIRECTORS

Tony Manini, Deputy Chairman and CEO

For further information, please contact:

-Ends-

Tony Manini
Deputy Chairman and CEO, Asiamet Resources Limited
Telephone: [phone]
Email: [e-mail]

FlowComms Limited
Sasha Sethi
Telephone: [phone]
Email: [e-mail] / [e-mail]


Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Andrew Thomson / Oliver Morse
Telephone: [phone]
Email: [e-mail] / [e-mail]

VSA Capital Limited
Andrew Raca / Justin McKeegan
Telephone: [phone]
Email: [e-mail]

Optiva Securities Limited
Christian Dennis
Telephone: [phone]
Email: [e-mail]

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.

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements.   Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices.  There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Asiamet Resources Limited via Globenewswire