It will run.
But for optimal performance atleast upgrade ur RAM to a min. of 256MB.
You will have to allocate a lot of space for ur swap partition.
Cos ur systems gonna do a lot of swapping.
Apart from the low memory all other peripherals will let it run smoothly.
I recommend installing a older version n then upgrade ur kernel to the
latest version available.
All the best.
Till then BBy.
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