Asia Pacific Resources Ltd.: Amendments to Thai Minerals Act Passed.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 22, 2002

Asia Pacific Resources Ltd. (APR) (OTCBB:APQCF) (TSX:APQ) (FRANKFURT:APQ) (STUTTGART:APQ) has been advised that the Lower House of the Parliament of Thailand has unanimously approved Amendments to the Minerals Act. The Senate had previously passed these Amendments and APR understands that within ninety (90) days the Amendments will become law following established routine processes.

The Amendments, which bring the legislation in line with international practice, permit mining, at a depth greater than 100 meters below the surface, without requiring specific consent of the holder of the surface rights. The potash resource held by Asia Pacific Potash Corporation (APPC), in which APR holds a 90% beneficial interest, typically lies 350 meters below the surface.

In addition, the removal of the limit of a maximum mining lease size of 300 rai (48 hectares) enables a world-class mine to be developed. The rights of local residents are protected through required public consultation processes and by compensation mechanisms in the unlikely event of damage occurring as a result of mining activity. An environmental impact assessment (EIA) must accompany the application for a Mining Lease.

The CEO and President of APR, Mr. John Bovard, welcomed the passage of the legislation. "This is good news for APR and good news for Thailand," he said. "The public consultation process and the EIA will ensure that the community is able to participate in this project. We have recently commenced a community relations program to better understand the wishes of the residents and to provide them with correct information about the project. Detailed studies carried out to international standards have demonstrated that modern environmental management techniques commonly practiced around the world will ensure minimal impacts."

Based on feasibility study estimates, once operations reach full production the project could provide nine hundred long-term direct jobs. The company will implement training in the Udon area to ensure that people of the North East are able to obtain meaningful jobs as soon as construction begins. In addition an estimated four thousand indirect jobs could be created for Thai people over the mine life of twenty-five years and beyond. The balance of payments of Thailand could benefit by an estimated US$5 billion over the mine life. Thailand will no longer have to rely on imported potash, but will instead export into the growing demand of the Asian region. The taxes, royalties and the dividend paid to the Thai Government under its 10% ownership of APPC should amount to US$1 billion over the mine life. It is understood that under the Constitution of Thailand a significant proportion of the royalties will flow to the Changwat (Province) and the Tambons (local councils) in the area of the mine.

The company is completing studies with international consultants to determine the optimum size of the initial stage of the project that will enable APPC's potash to compete in the competitive international market. A staged development will allow time to train Thai staff and to raise the necessary equity with minimum dilution to existing APR shareholders. APPC plans to file a Mining Lease Application early in 2003. These leases will enable APPC to commence early production.

About Asia Pacific Resources

The Company has identified two large potash deposits, the Udon North and Udon South deposits near Udon Thani in northeast Thailand. In September 1998, the Company completed a feasibility study on the South deposit, which ranks among the highest-grade potash resources in the world, and is currently working to secure various development approvals required from the Thai authorities. The current study will be reviewed and optimized during 2002 so that the project's future development will be able to capitalise fully on the inherent competitive strengths of the resource, as well as its location close to the growing potash markets of Asia.

On behalf of the Board of Directors,

John Bovard, President and Chief Executive Officer

The information provided in this news release may contain forward-looking statements within the meaning of the Safe Harbour provisions of the US Private Securities Litigation Reform Act of 1995. These statements are based on Asia Pacific Resources Ltd.'s current expectations and beliefs and are subject to a number of risks and uncertainty that can cause actual results to differ materially from those described in the forward looking statements.