Widespread Portfolios - NZX Announcements

Net Asset Backing 22.2 cents to 55.1 cents

2010-03-04T21:20:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

5 March 2010

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 10 a.m. today, ranges from 22.2 cents to 55.1 cents, depending on the valuation methodology applied to our major asset, our 4.3% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	3.282	6.096	28.4
May 2009 20 day VWAP per NZIFRS	18.534	1.935	4.747	22.2
AMR market price today	23.499	2.173	4.987	23.3
Malaysian Smelting project valuation	145.000	8.999	11.813	55.1

Share of AMR net assets

This net assets calculation assumes our Asian Mineral Resource shareholding is valued at our share of AMR’s audited net assets, an approach consistent with our shareholding in AMR and continuing significant influence within the company. The most recently published Asian Minerals annual report records net assets of CAD 48 million. This figure is based primarily on construction costs capitalised since the mining license was granted in December 2007. This carrying value has been sustained, in discussion with the AMR auditors, based on project valuations that obviously match or exceed CAD 48 million (as if they hadn’t an impairment write-down would have been necessary).

May 2009 20 day volume weighted average price

Our recently published audited financial statements include the AMR shareholding at the twenty day volume-weighted-average-market price as at 20 May 2009. This approach, dictated by New Zealand International Financial Reporting Standards, results in an NTA per WID share of 21.7 cents. We consider this price irrelevant as a) it assumes an efficient market exists for AMR shares and b) that the market value of small parcels of AMR shares is the same as that for large holdings. Neither assumption is correct in respect of Asian Minerals shares

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Malaysian Smelting Corporation, a Malaysian listed mining conglomerate also represented on the AMR board, holds the second largest shareholding. Its last annual report records that its 18.2% Asian Minerals shareholding is valued at CAD 26.4 million, effectively valuing the company at CAD 145 million. This audited carrying value is based on an audited robust project valuation of the Ban Phuc Nickel Mine forecast cash flows. This project valuation obviously matches or exceeds CAD 145 million.

Our view

We prefer the bricks and mortar based net assets figure of CAD 48 million, partially because this would be the floor price if it were decided by Asian Minerals to sell the project together with the mining license, exploration programme data, and other intellectual property in the company. Approximately CAD 75 million has been invested in the project since 1989.

Your view

We have detailed the various valuation approaches that can be applied to our shareholding in AMR. Given the transparency of this information, our shareholders are now in a position where they can then decide for themselves what they consider to be the value of our shares.

Diluted Net Assets per share

Using the share of AMR’s net assets approach, the fully diluted NTA per WID share is 86 cents assuming the listed warrants are exercised @ $2.986 and the unlisted director-held warrants are exercised @ $3.286. All warrants expire on 30 June 2012.

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Onekaka, 5 March 2010

Widespread Portfolios granted Chatham Rise licence

2010-02-25T19:56:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

25 February 2010

Dear Sir,

WIDESPREAD PORTFOLIOS GRANTED ROCK PHOSPHATE PROSPECTING PERMIT AT CHATHAM RISE

Widespread Portfolios (10%), and its associated company Widespread Energy Limited (90%) established in 2008 a joint venture, (“the Joint Venture or JV”) that has today been granted an offshore prospecting permit by the Crown Resources Division of the Ministry of Economic Development covering an area of 4,726 km² on the central Chatham Rise. The permit area, which is in New Zealand territorial waters, is located 600 km east of Christchurch and is believed to include significant shallow seabed deposits of rock phosphate and other potentially valuable minerals.

The initial term of the permit is two years with further priority rights to either extend the prospecting permit or apply for a mining licence.

Background

Rock phosphate is the primary constituent of most fertilisers that are manufactured and distributed in New Zealand. Rock phosphate can also be applied directly to pasture. Field trials undertaken by the Ministry of Agriculture in the 1980s demonstrated that in some conditions such direct application of rock phosphate can result in a more effective fertiliser with less environmental damage from run-off.

At present virtually all of the rock phosphate used by the New Zealand fertiliser industry (approximately 1 million tonnes a year) is imported from Morocco, with rapidly increasing transport costs adding to the local landed costs of this product.

Exploration conducted in the 1970s and 1980s by the New Zealand Government, Fletcher Challenge Corporation and other companies indicated the potential for economic concentrations of rock phosphate on the Chatham Rise. Although significant sample quantities were gathered during these exploration programmes, no production has occurred from this region. The sample quantities gathered during this period of exploration showed that the Chatham Rise rock phosphate occurs in nodules that also contain a number of other potentially valuable substances, including rare earth minerals and fluorine.

Recent increases in the market value of rock phosphate and advances in offshore extraction technology mean that the profitable exploitation of this marine deposit may now be feasible. The deposit lies on the surface of the seabed at relatively shallow depths and, based on technology now available and used routinely in the offshore construction and oil sectors, it is considered likely that the rock phosphate will be economically feasible to extract.

Literature on the Chatham Rise Rock Phosphate

As a result of the extensive exploration programme described above, there have been numerous reports published concerning the presence and the characteristics of the Chatham Rise rock phosphate deposit. These reports are publicly available and can be obtained through the Crown Minerals website at www.crownminerals.govt.nz.

A report by David J. Cullen published in 1987 and entitled The Submarine Phosphate Resource on Central Chatham Rise summarises the various data collected during the earlier exploration programmes and suggests that:

· Intensive surveys of limited areas of the crest of Chatham Rise have proved reserves of some 30 million tonnes of phosphorite; and

· The total resource is provisionally estimated at 100 million tonnes.

Although this data was obtained approximately 30 years ago, the grant of the prospecting permit will allow the JV to test and confirm these conclusions.

If it can be confirmed that there is a rock phosphate resource of 100 million tonnes in our prospect area, the present in-situ value of the rock phosphate alone would be, based on recent market prices, approximately NZ$28 billion.

Possible Project Economics

In order to further understand the potential value of this mineral asset, scoping studies have been undertaken by the Joint Venture, based on the following assumptions:

1. A probable reserve of 30 million tonnes of rock phosphate exists in a small section of the permit area. This assumption is based on the historical data referred to above.

2. This reserve can be extracted at a rate of 500,000 tonnes a year to replace 50% of the rock phosphate that is presently imported into New Zealand.

3. Extraction and local transport costs are estimated to be $US 85 tonne compared with imported rock phosphate assumed to have a long run cost ex Morocco of $US 200 per tonne plus $US 120/t shipping cost, i.e. $US 320 c.i.f. in New Zealand.

4. Capital costs are estimated to be $US 300 million.

Based on these raw assumptions and other relevant factors the project could generate annual pre-tax profits of $US 55 million ($NZ 79.8 million) compared with importing rock phosphate from Morocco.

Another possible way of assessing the potential value of the deposit is to use the above provisional estimate of 100 million tonnes of rock phosphate in our permit area and value it on an “in-situ” basis. If the Joint Venture were able to on-sell the resource for $US 1/tonne (approximately one third of one percent of the present cost of imported rock phosphate) that would value the resource at US$100 million. At present exchange rates this scenario implies a project value per Widespread Portfolios share of NZ$2.12 (NZ$1.60 after conversion of the warrants).

Shareholders are urged not to accept these possible scenarios at face value as they are based on numerous untested assumptions and at this stage of the project, remain uncertain and speculative. They simply illustrate the potential upside for this project and why the JV is pursuing this project and considers the grant of the prospecting permit to be a material development for the Company.

It is suggested that shareholders take these possible scenarios into account if they are considering dealing in their shares or receive an approach to sell their shares.

Management of the Marine Environment

The Widespread Joint Venture is acutely aware of its responsibilities to conduct both the mineral prospecting programme and (hopefully) extraction of the rock phosphate, in a manner that causes minimal disruption to the marine environment.

To this end, we have already been engaged in discussions with the relevant NZ Government Crown Research Institute, the National Institute of Water & Atmospheric Research (NIWA). We will be working closely with NIWA to optimise our activities so that a) minimal disruption occurs to the marine environment and b) we do not impact adversely on animal or plant habitats.

Specifically, NIWA (who have already mapped the Chatham Rise seabed and its flora and fauna in close detail) will assist us in gaining a comprehensive understanding of the manner in which we will need to operate to minimise environmental impact from potential extraction activities.

In addition to this, it is a term of our prospecting licence that all prospecting or extraction activity will be undertaken strictly in accordance with the environmental guidelines published by the International Marine Minerals Society “Code for Environmental Management of Marine Mining”.

Work Programme

The work programme for the first 12 months under the permit will include, inter alia, further reviews of the previous rock phosphate exploration data for the permit area, digitisation and re-analysis of data collected at that time, extensive environmental impact studies and a pre-feasibility study focussing on the project economics.

These activities will be financed from existing resources. However it’s likely that the year two work programme, which will include a full bankable feasibility study and the gathering of seabed samples in order to define the minable resource, will be significantly enlarged and fast tracked. The broad expressions of interest in this project from investors, the fertiliser sector and other mineral exploration companies indicate that funding of this later phase will be achievable.

Summary

The Widespread JV holds 100% of the 4,726 square kilometre permit area which has been estimated to contain 100 million tonnes of rock phosphate.
Preliminary scoping studies indicate that the rock phosphate can be extracted (using existing technology) for much less than the cost of buying and importing it from Morocco.
Successful extraction could result in a much reduced carbon footprint from the New Zealand fertiliser industry. All imported rock phosphate is presently shipped from the other side of the world.
The sourcing of this resource locally would , significantly improve New Zealand’s balance of payments by reducing imports.
Chatham Rise rock phosphate may be more environmentally friendly as a fertiliser where it is applied directly to pasture with previous Government studies indicating less subsequent run-off.
The Widespread JV has the resources and potential fund raising ability to finance the work programme to the completion of resource definition and a bankable feasibility study.
The prospecting programme and any subsequent extraction of the resource would be conducted in accordance with the environmental guidelines published by the International Marine Minerals Society “Code for Environmental Management of Marine Mining”
This project is potentially the most significant investment that the Widespread group has made in its 20-year history. The attractive potential project economics are obvious and evident to a wide audience and preliminary approaches already made to the Widespread JV indicate that this Chatham Rise prospecting permit has the potential to very substantially revalue the shares of both Widespread Energy and Widespread Portfolios.
Shareholders should be cognisant of these circumstances when considering dealing in their shares.

For and on behalf of the Board,

Chris D Castle

Onekaka, 25 February 2010

Net Asset Backing 20.9 cents to 54.7 cents

2010-02-25T15:38:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

26 February 2010

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 10 a.m. today, ranges from 20.9 cents to 54.7 cents, depending on the valuation methodology applied to our major asset, our 4.3% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	3.167	5.892	27.5
May 2009 20 day VWAP per NZIFRS	18.534	1.935	4.660	21.7
AMR market price today	19.582	1.747	4.472	20.9
Malaysian Smelting project valuation	145.000	8.999	11.724	54.7

Share of AMR net assets

May 2009 20 day volume weighted average price

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Our view

Your view

Diluted Net Assets per share

Using the share of AMR’s net assets approach, the fully diluted NTA per WID share is 85 cents assuming the listed warrants are exercised @ $2.986 and the unlisted director-held warrants are exercised @ $3.286. All warrants expire on 30 June 2012.

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Onekaka, 26 February 2010

Net Asset Backing 20.9 cents to 55.2 cents

2010-02-18T20:40:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

19 February 2010

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 10 a.m. today, ranges from 20.9 cents to 55.2 cents, depending on the valuation methodology applied to our major asset, our 4.3% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	3.159	5.993	28.0
May 2009 20 day VWAP per NZIFRS	18.534	1.935	4.768	22.2
AMR market price today	18.463	1.643	4.476	20.9
Malaysian Smelting project valuation	145.000	8.999	11.832	55.2

Share of AMR net assets

May 2009 20 day volume weighted average price

Our recently published audited financial statements include the AMR shareholding at the twenty day volume-weighted-average-market price as at 20 May 2009. This approach, dictated by New Zealand International Financial Reporting Standards, results in an NTA per WID share of 22.2 cents. We consider this price irrelevant as a) it assumes an efficient market exists for AMR shares and b) that the market value of small parcels of AMR shares is the same as that for large holdings. Neither assumption is correct in respect of Asian Minerals shares

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Our view

Your view

Diluted Net Assets per share

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Onekaka, 19 February 2010

Net Asset Backing 21.5 cents to 55.1 cents

2010-02-11T22:50:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

12 February 2010

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 10 a.m. today, ranges from 21.5 cents to 55.1 cents, depending on the valuation methodology applied to our major asset, our 4.3% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	3.170	5.983	27.9
May 2009 20 day VWAP per NZIFRS	18.534	1.935	4.748	22.2
AMR market price today	20.142	1.798	4.612	21.5
Malaysian Smelting project valuation	145.000	8.999	11.812	55.1

Share of AMR net assets

May 2009 20 day volume weighted average price

Our recently published audited financial statements include the AMR shareholding at the twenty day volume-weighted-average-market price as at 20 May 2009. This approach, dictated by New Zealand International Financial Reporting Standards, results in an NTA per WID share of 22.2 cents. We consider this price irrelevant as a) it assumes an efficient market exists for AMR shares and b) that the market value of small parcels of AMR shares is the same as that for large holdings. Neither assumption is correct in respect of Asian Minerals shares

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Our view

Your view

Diluted Net Assets per share

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Bridge Pa, 12 February 2010

Net Asset Backing 21.5 cents to 54.9 cents

2010-02-04T21:19:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

5 February 2010

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 10 a.m. today, ranges from 21.6 cents to 54.9 cents, depending on the valuation methodology applied to our major asset, our 4.3% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	3.146	5.913	27.6
May 2009 20 day VWAP per NZIFRS	18.534	1.935	4.702	21.9
AMR market price today	20.701	1.834	4.602	21.5
Malaysian Smelting project valuation	145.000	8.999	11.766	54.9

Share of AMR net assets

May 2009 20 day volume weighted average price

Our recently published audited financial statements include the AMR shareholding at the twenty day volume-weighted-average-market price as at 20 May 2009. This approach, dictated by New Zealand International Financial Reporting Standards, results in an NTA per WID share of 21.9 cents. We consider this price irrelevant as a) it assumes an efficient market exists for AMR shares and b) that the market value of small parcels of AMR shares is the same as that for large holdings. Neither assumption is correct in respect of Asian Minerals shares

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Our view

Your view

Diluted Net Assets per share

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Onekaka, 5 February 2010

Net Asset Backing 18.6 cents to 54.7 cents

2010-01-29T03:13:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

29 January 2010

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today, ranges from 18.6 cents to 54.7 cents, depending on the valuation methodology applied to our major asset, our 4.3% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	3.092	5.818	27.1
May 2009 20 day VWAP per NZIFRS	18.534	1.935	4.661	21.7
AMR market price today	14.507	1.267	3.993	18.6
Malaysian Smelting project valuation	145.000	8.999	11.725	54.7

Share of AMR net assets

May 2009 20 day volume weighted average price

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Our view

Your view

Diluted Net Assets per share

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Nandi, 29 January 2010

Net Asset Backing 18.4 cents to 54.5 cents

2010-01-21T21:30:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

22 January 2010

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today, ranges from 18.4 cents to 54.5 cents, depending on the valuation methodology applied to our major asset, our 4.3% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	3.106	5.782	27.0
May 2009 20 day VWAP per NZIFRS	18.534	1.935	4.611	21.5
AMR market price today	14.507	1.273	3.949	18.4
Malaysian Smelting project valuation	145.000	8.999	11.675	54.5

Share of AMR net assets

May 2009 20 day volume weighted average price

Our recently published audited financial statements include the AMR shareholding at the twenty day volume-weighted-average-market price as at 20 May 2009. This approach, dictated by New Zealand International Financial Reporting Standards, results in an NTA per WID share of 21.5 cents. We consider this price irrelevant as a) it assumes an efficient market exists for AMR shares and b) that the market value of small parcels of AMR shares is the same as that for large holdings. Neither assumption is correct in respect of Asian Minerals shares

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Our view

Your view

Diluted Net Assets per share

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Christchurch, 22 January 2010

Widespread's Asian Minerals closes $5.9m private placement

2010-01-07T19:52:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

8 January 2010

Dear Sir,

Widespread’s Asian Minerals closes $5.9m private placement

Asian Mineral Resources (“ASN”) is Widespread’s largest investment. This 4.3% shareholding (presently held at independent valuation based on our share of net assets) represents 50.6% of Widespread’s total assets.

ASN made the announcement below in Canada a few minutes ago. The placement has diluted our shareholding in ASN from 6.5% to 4.3% (with a corresponding affect on our reported net assets per share, which have reduced from 33 to 28 cents per share).

Notwithstanding this, the completion of the placement is very good news as it provides significantly more certainly that ASN will survive and proceed with the Ban Phuc nickel mine development.

For and on behalf of the Board,

Chris D Castle

Onekaka

8 January 2010

ASIAN MINERAL RESOURCES ANNOUNCES COMPLETION OF PRIVATE PLACEMENT

Toronto, Ontario – January 7, 2010. Asian Mineral Resources Limited (the “Company”) (ASN-TSX Venture) announced today the completion of a non-brokered private placement of 59,000,000 units each consisting of one common share and one whole warrant to purchase a common share at $0.15 for 12 months from its issue date. The common shares and warrants and any common shares issuable on the exercise of the warrants are subject to a hold period expiring on May 8, 2010. The units were issued at $0.10 a unit for gross proceeds of Cdn$5,900,000. Full exercise of the warrants would produce an additional $8.9 million of equity funding.

The proceeds of the placement will be used, among other things, to conduct a program of geophysics and diamond drilling to test the depth and strike extension of the Ban Phuc massive sulphide mineralization; to update Ban Phuc Project capital and operating costs; to optimize Project development and production strategy using updated geological information and incorporating maximum use of in-country construction expertise; and to undertake exploration programmes which are complementary to these activities.

Malaysia Smelting Corporation and certain of its affiliates now hold 29.6% of the Company’s shares; 35.0% assuming exercise of all warrants; and 40.0% assuming exercise only by MSC and such affiliates. MSC and its affiliates are members of Tecity Group, a Singapore-based group of companies controlled by family members of its deceased founder, Dr. Tan Chin Tuan, including his daughter Dr. Tan Kheng Lian and her three children. Asian Lion Limited holds 13.6% of the outstanding shares on a non-diluted basis; 19.2% assuming exercise of all warrants; and 23.0% assuming exercise only by Asian Lion. The shareholdings of the Dragon funds are now 16.1% non-diluted and 12.0% fully-diluted.

“We are very pleased that a number of existing shareholders including Malaysia Smelting Corporation and its affiliates who are members of the Tecity Group, along with Asian Lion, have demonstrated their support for the Company and our Ban Phuc Nickel Project by agreeing to provide this substantial equity infusion”, commented Chairman Jim Askew. “We look forward to re-energising the Ban Phuc Project and undertaking other initiatives during 2010 designed to add shareholder value.”

Company Profile:

Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in Vietnam, a 5 hour drive north-west of Hanoi, in which it has a 90% interest.

For further details on the Company and the Project, please refer to the website at www.asianminres.com or contact:

Paula Kember, CFO

120 Adelaide Street West, Suite 2500

Toronto, ON M5H 1T1

T: 416 360 3412

F: 416 367 1954

E: info@asianminres.com

Rob Guest, CEO

#9 Nguyen Hong Road

Ba Dinh District, Hanoi

Viet Nam

T: +84 4 3773 7997

F: +84 4 3773 7996

Email: info@asianminres.com

Forward-Looking Statements

This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of Asian Mineral Resources Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Asian Mineral Resources Limited’s expectations are disclosed under the heading "Risk Factors" and elsewhere in Asian Mineral Resources Limited documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities.

Neither 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.

Widespread's Asian Minerals closes $5.9m private placement

2010-01-07T19:52:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

8 January 2010

Dear Sir,

Widespread’s Asian Minerals closes $5.9m private placement

Notwithstanding this, the completion of the placement is very good news as it provides significantly more certainly that ASN will survive and proceed with the Ban Phuc nickel mine development.

For and on behalf of the Board,

Chris D Castle

Onekaka

8 January 2010

ASIAN MINERAL RESOURCES ANNOUNCES COMPLETION OF PRIVATE PLACEMENT

Company Profile:

Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in Vietnam, a 5 hour drive north-west of Hanoi, in which it has a 90% interest.

For further details on the Company and the Project, please refer to the website at www.asianminres.com or contact:

Paula Kember, CFO

120 Adelaide Street West, Suite 2500

Toronto, ON M5H 1T1

T: 416 360 3412

F: 416 367 1954

E: info@asianminres.com

Rob Guest, CEO

#9 Nguyen Hong Road

Ba Dinh District, Hanoi

Viet Nam

T: +84 4 3773 7997

F: +84 4 3773 7996

Email: info@asianminres.com

Forward-Looking Statements

Net Asset Backing 19.4 cents to 77.4 cents

2009-12-30T19:09:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

31 December 2009

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 9 a.m. today, ranges from 19.4 cents to 77.4 cents, depending on the valuation methodology applied to our major asset, our 6.47% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	4.094	7.092	33.1
May 2009 20 day VWAP per NZIFRS	18.534	1.935	4.933	23.0
AMR market price today	13.428	1.153	4.151	19.4
Malaysian Smelting project valuation	145.000	13.585	16.583	77.4

Share of AMR net assets

This net assets calculation assumes our Asian Mineral Resource shareholding is valued at our share of AMR’s audited net assets, an approach consistent with our major shareholding in AMR and continuing significant influence within the company. The recently published Asian Minerals annual report records net assets of CAD 48 million. This figure is based primarily on construction costs capitalised since the mining license was granted in December 2007. This carrying value has been sustained, in discussion with the AMR auditors, based on project valuations that obviously match or exceed CAD 48 million (as if they hadn’t an impairment write-down would have been necessary).

May 2009 20 day volume weighted average price

Our recently published audited financial statements include the AMR shareholding at the twenty day volume-weighted-average-market price as at 20 May 2009. This approach, dictated by New Zealand International Financial Reporting Standards, results in an NTA per WID share of 23.0 cents. We consider this price irrelevant as a) it assumes an efficient market exists for AMR shares and b) that the market value of small parcels of AMR shares is the same as that for large holdings. Neither assumption is correct in respect of Asian Minerals shares

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Malaysian Smelting Corporation, a Malaysian listed mining conglomerate also represented on the AMR board, holds the second largest shareholding. Its recent annual report records that its 18.2% Asian Minerals shareholding is valued at CAD 26.4 million, effectively valuing the company at CAD 145 million. This audited carrying value is based on an audited robust project valuation of the Ban Phuc Nickel Mine forecast cash flows. This project valuation obviously matches or exceeds CAD 145 million.

Our view

Your view

Diluted Net Assets per share

Using the share of AMR’s net assets approach, the fully diluted NTA per WID share is 88 cents assuming the listed warrants are exercised @ $2.986 and the unlisted director-held warrants are exercised @ $3.286. All warrants expire on 30 June 2012.

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Onekaka, 31 December 2009

Chatham Rise Phosphorites Progress Report

2009-12-22T00:46:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

22 December 2009

Dear Sir,

UPDATE ON CHATHAM RISE PHOSPHORITES PROSPECTING LICENSE

Further to the interim announcement for Widespread Portfolios that was released on 25 November, we are pleased to advise that there has been progress in working towards the grant of a prospecting license for the central Chatham Rise with Crown Minerals.

A Joint Venture comprising Widespread Energy (90%) and Widespread Portfolios (10%) applied for this license in August 2007. Since that time there have been lengthy negotiations on several aspects of the terms and conditions for the license. While the Joint Venture and Crown Minerals initially held contrasting positions on the appropriate license terms (as illustrated in our preliminary announcement last month), recent negotiations have been much more positive. On this basis, the Joint Venture anticipates that the license will be issued by Crown Minerals early in the New Year.

For and on behalf of the Board,

Chris D Castle

Onekaka, 22 December 2009

Net Asset Backing 19.5 cents to 77.4 cents

2009-12-17T20:36:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

18 December 2009

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 9 a.m. today, ranges from 19.5 cents to 77.4 cents, depending on the valuation methodology applied to our major asset, our 6.47% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	4.105	7.121	33.2
May 2009 20 day VWAP per NZIFRS	18.534	1.935	4.950	23.1
AMR market price today	13.428	1.157	4.172	19.5
Malaysian Smelting project valuation	145.000	13.585	16.600	77.4

Share of AMR net assets

May 2009 20 day volume weighted average price

Our recently published audited financial statements include the AMR shareholding at the twenty day volume-weighted-average-market price as at 20 May 2009. This approach, dictated by New Zealand International Financial Reporting Standards, results in an NTA per WID share of 23.1 cents. We consider this price irrelevant as a) it assumes an efficient market exists for AMR shares and b) that the market value of small parcels of AMR shares is the same as that for large holdings. Neither assumption is correct in respect of Asian Minerals shares

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Our view

Your view

Diluted Net Assets per share

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Wellington, 18 December 2009

Net Asset Backing 18.9 cents to 77.4 cents

2009-12-10T21:43:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

11 December 2009

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 9 a.m. today, ranges from 18.9 cents to 77.4 cents, depending on the valuation methodology applied to our major asset, our 6.47% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	4.071	7.080	33.0
May 2009 20 day VWAP per NZIFRS	18.534	1.935	4.944	23.1
AMR market price today	12.309	1.052	4.061	18.9
Malaysian Smelting project valuation	145.000	13.585	16.594	77.4

Share of AMR net assets

May 2009 20 day volume weighted average price

Our recently published audited financial statements include the AMR shareholding at the twenty day volume-weighted-average-market price as at 20 May 2009. This approach, dictated by New Zealand International Financial Reporting Standards, results in an NTA per WID share of 23.1 cents. We consider this price irrelevant as a) it assumes an efficient market exists for AMR shares and b) that the market value of small parcels of AMR shares is the same as that for large holdings. Neither assumption is correct in respect of Asian Minerals shares

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Our view

Your view

Diluted Net Assets per share

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Wellington, 11 December 2009

Net Asset Backing 20.3 cents to 78.8 cents

2009-12-03T19:30:00Z

New Zealand Exchange Limited
P.O. Box 2959
Wellington

4 December 2009

Dear Sir,

Widespread Portfolios net asset backing per share

We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 9 a.m. today, ranges from 20.3 cents to 78.8 cents, depending on the valuation methodology applied to our major asset, our 6.47% shareholding in Asian Mineral Resources (“AMR”).

AMR valuation approach	AMR Company Valuation (CAD million)	Value of WID’s AMR shareholding (NZD million)	WID Net Assets (NZD million)	WID Net Assets Per share
Share of AMR net assets	48.038	4.085	7.386	34.5
May 2009 20 day VWAP per NZIFRS	18.534	1.935	5.236	24.4
AMR market price today	12.309	1.055	4.356	20.3
Malaysian Smelting project valuation	145.000	13.585	16.886	78.8

Share of AMR net assets

May 2009 20 day volume weighted average price

Our recently published audited financial statements include the AMR shareholding at the twenty day volume-weighted-average-market price as at 20 May 2009. This approach, dictated by New Zealand International Financial Reporting Standards, results in an NTA per WID share of 24.4 cents. We consider this price irrelevant as a) it assumes an efficient market exists for AMR shares and b) that the market value of small parcels of AMR shares is the same as that for large holdings. Neither assumption is correct in respect of Asian Minerals shares

AMR market price today

The last price the AMR shares traded at in Canada. We also consider this price irrelevant for the reasons already stated.

Malaysian Smelting Corporation project valuation

Our view

Your view

Diluted Net Assets per share

Using the share of AMR’s net assets approach, the fully diluted NTA per WID share is 89 cents assuming the listed warrants are exercised @ $2.986 and the unlisted director-held warrants are exercised @ $3.286. All warrants expire on 30 June 2012.

This NTA per share information is also available on our website (www.widespread.co.nz) and is updated daily.

For and on behalf of the Board,

Chris D Castle

Onekaka, 4 December 2009