Sale of shares in Asian Mineral Resources Limited

TORONTO, June 12, 2019 /CNW/ - Pala Investments Limited ("Pala"), a multi-strategy investment company focused on the mining and metals value chain, today announced it entered into an agreement for the sale of 4,447,947 shares (the "Transaction Shares") in the capital of Asian Mineral Resources ("AMR"), for an aggregate sale price of C$10.00 (the "Transaction"). Prior to the Transaction, Pala held 6,191,081 shares in the capital of AMR ("AMR Shares"), and Melior Resources Inc. ("Melior") (a corporation which Pala obtained control over as of June 10, 2019) held 236,364 AMR Shares, representing an aggregate of 6,427,445 AMR Shares out of the 8,746,447 AMR Shares outstanding for a security holding percentage of 73.49%. Following the Transaction, Pala holds 1,743,134 AMR Shares and Melior holds 236,364 AMR Shares, for an aggregate of 1,979,498 AMR Shares controlled by Pala out of the 8,746,447 AMR Shares outstanding, for a security holding percentage of 22.63%, a decrease in Pala's securityholding percentage of 50.86%.

Pala disposed of the Transaction Shares for investment reasons. In the short term, Pala is reviewing its options regarding the AMR Shares including the potential disposition of AMR Shares, but has no current intention to undertake any of the actions enumerated in Item 5 of Form 62-103F1 published by the Canadian Securities Administrators, In the future, Pala may increase or decrease the investment in the securities of AMR depending on its evaluation of the business, prospects and financial condition of AMR, the market for AMR's securities, general economic and tax conditions and other factors.

The purchaser of the Transaction Shares is relying on the private agreement exemption under section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids in connection with the purchase of the Transaction Shares.

AMR's address is Suite 1700, Park Place, 666 Burrard Street, Vancouver, BC Canada V6C 2X8

Pala's address is 12 Castle Street, St. Helier, Jersey JE2 3RT UK. Pala is a company existing under the laws of Jersey. Pala's principal business is investing in companies in the mining sector.

For further information, please refer to the early warning report posted on SEDAR or contact John Nagulendran at [phone].

About Pala

Pala is an investment company focused exclusively on the mining sector with a strong track record of successful investments and value creation. Pala's team has extensive experience within the sector and seeks to assist companies in which it has long-term shareholdings by providing strategic advice and innovative solutions in development, production, turnaround and advanced exploration situations. Pala invests across all geographies and in all mining commodities as well as mining services and consumables. For more information, visit www.pala.com.

Forward-Looking Information

Certain statements in this press release are forward-looking statements and are prospective in nature, including statements with respect to Pala's future intentions regarding the securities of AMR that it owns. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual events and results to differ materially from the future events or results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Pala is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Pala Investments Limited

John Nagulendran at [phone]