Mr. Raj Chowdhry reports

ASIABASEMETALS INC. ANNOUNCES PRIVATE PLACEMENT

AsiaBaseMetals Inc. intends to raise up to $575,000 through a non-brokered private placement of up to 2,875,000 common shares at a price of 20 cents per share.

The proceeds of the private placement will be used to finance due diligence respecting the company's previously announced Laos potash project and for general working capital purposes.

The company will pay cash finders' fees on a portion of the offering equal to 7 per cent of the total gross proceeds received from subscribers introduced to the company by the finders.

The private placement is subject to acceptance by the TSX Venture Exchange.

We seek Safe Harbor.