AsiaBaseMetals terminates Definitive Agreement to acquire Laos Potash Project

Suite 1723 - 595 Burrard Street PO Box 49073 Vancouver, BC, Canada, V7X 1G4 Tel: (604) 628-1162 Fax: (604) 628-1163 Web: www.asiabasemetals.com Email: [email protected]

FOR IMMEDIATE RELEASE July 19, 2012

AsiaBaseMetals terminates Definitive Agreement to acquire Laos Potash Project

Vancouver, B.C. – July 19, 2012 - AsiaBaseMetals Inc. (“AsiaBaseMetals” or the “Company”) (TSX.V: ABZ) announces that the Company has terminated its previously disclosed definitive purchase and sale agreement (the “Agreement”) for the indirect acquisition by the Company of a majority interest in the Vientiane Potash Property located in Laos. The Company terminated the Agreement in accordance with its terms due to fundamental conditions to closing not having been fulfilled.

ON BEHALF OF THE BOARD OF DIRECTORS

"RAJ CHOWDHRY"

__________________________ Raj Chowdhry, C.A.

President & CEO

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.

AsiaBaseMetals Inc. (TSX.V: ABZ) | www.AsiaBaseMetals.com