Asia Pacific Resources: Company to adopt an independent development strategy for the initial Potash Mine in Thailand.

VANCOUVER, British Columbia--(BUSINESS WIRE)--May 1, 1997--ASIA PACIFIC RES. (TSE;VSE:APQ, NASDAQ:APQCF) Asia Pacific Resources Ltd. is the largest shareholder (62.5 percent) of Asia Pacific Potash Corp. (APPC) and acts as Project Operator for the Udon Thani Potash Project in northeast Thailand. Metro Resources Ltd. (27.5 percent) and the Government of the Kingdom of Thailand (10.0 percent) are the other shareholders of APPC.

APPC has, over the past four years, conducted a series of exploration and development programs within its concession area and has identified two discrete potash deposits, in close proximity to each other, with a total resource base estimated to exceed 1.3 billion tonnes of high grade sylvinite ore. The initially discovered deposit in the Somboon field is the subject of a Bankable Feasibility Study scheduled for completion in July, 1997. This study is to confirm the technical and economic feasibility of a two million tonnes per annum (potassium chloride [KCl]) mine to serve the increasing potash demands of China and southeast Asia.

For some time, Asia Pacific has been exploring the merits of developing the initial mine in conjunction with a fertilizer industry partner. After much consideration of the potential benefits of such an arrangement, it has been determined that, for the most timely development of the project, it is not in APPC's best interest to proceed in this manner. Consequently, Asia Pacific has terminated its discussions with potential industry partners and will proceed independently with the financing and development of the project.

Pending receipt of the Bankable Feasibility Study, Asia Pacific has commenced discussions with appropriate senior financial institutions to arrange the required project debt for the initial mine. The balance of the project equity will be secured on finalization of the debt package.

Qualified engineering companies, acceptable to the financial institutions, will be invited to bid on a Turnkey EPC contract for mine construction. Subject to receipt of the necessary permits, it is anticipated that construction of the mine would commence early in 1998, with a target completion date during the year 2000.

In addition, preliminary discussions with potential Asian customers for both potash and common salt are being scheduled to further evaluate marketing issues and lead to conditional purchase commitments.

The critical aspects of project staffing for the construction, operational and marketing elements is also being addressed, and qualified industry personnel will be engaged to fill the key positions necessary to ensure the completion of the project.

Recent initiatives regarding improvements and additions to the existing infrastructure, including a proposed gas pipeline to the project site and the construction of new road and rail links connecting the project area directly to southern China, Laos and Vietnam, have increased the confidence that APPC's already strong competitive position will continue to strengthen. The recently announced bilateral trade initiatives between Thailand and China, with their emphasis on food production and fertilizer trade, are a further indication that potash produced by APPC will find a ready market within the region.

"Dr. Gerald D. Wright", Executive Chairman -0-

This News Release was prepared by the Board of Directors on behalf of Asia Pacific Resources Ltd. which is solely responsible for its contents.

CONTACT: Asia Pacific Resources Ltd.

Dr. Gerald D. Wright, 604/681-8003

604/662-3180 (FAX)

E-mail: [e-mail]

Website: http://www.crewgroup.com