Asia Pacific To Proceed With Mining Lease Application.

Business Editors

TORONTO--(BUSINESS WIRE)--March 5, 2003

Asia Pacific Resources (OTC Bulletin Board:APQCF)(TSX:APQ.TO)(FRANKFURT:APQ) announced that its subsidiary, Asia Pacific Potash Corporation (APPC), has formally notified the Government of Thailand, of its intention to apply for a Mining Lease for the Udon South potash deposit. The notification is required under APPC's Concession Agreement for the Mining Area covering the deposit (formerly known as the "Somboon" deposit). This is the first of the two formal legal steps with the second being the full application for the Lease.

APPC will apply for a Mining Lease, as required, within the next 90 days. It is anticipated that the Mining Lease, when granted, will be for a term of 25 years. Allowing for time to develop the mine, processing plant and infrastructure, APPC expects that there will be approximately 22 years of mining, beginning with a first phase producing 1 million tones per annum followed by production of 2 million tones per annum. APPC will operate in accordance with best practices adopted from successful mining operations overseas to ensure the necessary high levels of environmental safeguards.

The Udon South deposit will produce potash and sell into the growing markets of South East Asia. By world standards, this potash deposit is very high grade, with low impurities, and it is situated at a relatively shallow depth. Its location provides for rail and road transport to users within Thailand as well as to coastal ports for shipment to major export markets.

Construction and operation of the mine will create jobs, royalties and other economic opportunities which will benefit not only the local areas of Udon, but, through taxes, export revenues and the replacement of imports, Thailand as a whole.

About Asia Pacific Resources Ltd.

Asia Pacific Resources holds a 90% interest in Asia Pacific Potash Corporation, the company holding the concession covering the Udon South deposit. The remaining 10% interest in APPC is held by the Government of Thailand. Asia Pacific Resources' shares are listed on the TSX as well as the Frankfurt and Stuttgart Stock Exchanges under the symbol APQ and on the OTCBB under the symbol APQCF.

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.