ABZ AsiaBaseMetals Inc

AsiaBaseMetals Inc. ("AsiaBaseMetals" or the "Company") (TSX VENTURE:ABZ)
announces it intends to raise up to $212,500 through a non-brokered private
placement (the "Private Placement") of up to 4,250,000 common shares ("Shares")
at a price of $0.05 per share. All securities issued pursuant to the Private
Placement will be subject to a four month hold period from the date of issue.


The Company may pay a finder's fee to a non-related third party, comprised of a
combination of cash and warrants, on a portion of the Private Placement in
accordance with the policies of the TSX Venture Exchange.


The proceeds from the Private Placement will be used by AsiaBaseMetals for
general working capital.


The Private Placement is subject to acceptance by the TSX Venture Exchange.

Certain directors and officers of the Company are expected to acquire securities
under the private placement. Such participation would be considered to be a
"related party transaction" as defined under Multilateral Instrument 61-101 ("MI
61-101"). The transaction will be exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 as neither the fair market value
of any shares issued to or the consideration paid by such persons will exceed
25% of the Company's market capitalization.


For more information please visit www.asiabasemetals.com.

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.


Certain disclosure in this release, including statements regarding the Company's
intention to carry out a private placement financing and the use of proceeds
from such financing constitute "forward-looking information" within the meaning
of Canadian securities legislation. In making the forward-looking statements in
this release, the Company has applied certain factors and assumptions that the
Company believes are reasonable, including that the Company is able to obtain
regulatory approval of the private placement financing and is otherwise able to
complete the private placement financing. However, the forward-looking
statements in this release are subject to numerous risks, uncertainties and
other factors that may cause future results to differ materially from those
expressed or implied in such forward-looking statements. Such uncertainties and
risks include, among others, financing risks, delays in obtaining or inability
to obtain required regulatory approvals and inability to complete the private
placement financing. 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. Readers are cautioned not to place
undue reliance on forward-looking statements. The Company does not intend, 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 law. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
AsiaBaseMetals Inc.
Wylie Hui
Chief Financial Officer
(604) 628-1162
info@asiabasemetals.com
www.asiabasemetals.com

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