Asia Broadband Advances Gold Mine Property Purchase Negotiations with Mapping and Rock Sampling Assay Results

Rhea-AI Summary

Asia Broadband Inc. (OTC: AABB) has announced mapping and rock sample assay results as part of its due diligence to acquire the Los Reyes gold mine in Jalisco, Mexico. The 200-hectare property shows promising gold assay values, reaching up to 2.53 grams per ton. AABB aims to expedite the acquisition, which has an estimated asset value of $30 million, to boost its gold production capabilities. The company is actively negotiating a definitive agreement and plans to provide further updates soon. This acquisition aligns with AABB's strategy to expand its gold holdings and enhance shareholder value.

Positive

• Promising gold assay results, with values up to 2.53 grams per ton.
• Targeted drilling may reveal higher gold concentrations.
• Acquisition of Los Reyes project valued at approximately $30 million could enhance production capacity.

Negative

• None.

LAS VEGAS, April 20, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce it has received mapping and rock sample assay results during the ongoing due diligence process regarding the Letter of Intent to acquire a historic production gold mine property and on-site processing facilities in the prolific mining region of Mascota in Jalisco, Mexico. The 200-hectare Los Reyes property, located approximately 3 kms from the community of Navidad at geographic coordinates 20° 15' - 20° 51” latitude North and 104° 31' - 105° 11” longitude West, has an average elevation of 2,600 meters above sea level. The Los Reyes project has two mine sites, existing infrastructure and a 50-ton per day processing facility operating on 25 hectares of the property. AABB has been strategically broadening its initiative to acquire gold production and high potential gold properties to increase the Company’s physical gold holdings.

To download the complete Los Reyes Preliminary Geological Report, go to:
https://asiabroadbandinc.com/los-reyes/

Per the geological report, non-targeted rock samples were randomly collected throughout the property at the beginning of the due diligence procedures and some of the most significant gold values assayed were 2.53 grams per ton (g/t), 2.25 (g/t) and 2.21 (g/t). The Company is highly encouraged by the viability of these general results that also strongly indicate that targeted drilling samples directed by geophysics data could have significantly higher gold values and concentrations.

In the coming weeks, AABB will be conducting further due diligence and continuing its negotiations to acquire the Los Reyes project that has an estimated $30 million asset value. All efforts are underway to accelerate this turnkey acquisition in order to rapidly advance AABB toward production and begin an expansion program. The Company anticipates negotiating a definitive agreement to acquire the Los Reyes project in the very near future and will release further details at that time.

About Asia Broadband
Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. The Company has recently released its freshly minted mine-to-token gold-backed cryptocurrency AABB Gold token (AABBG) and strives to become a world-wide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies.

Contact the Company at:
Investor Brand Network
General Email:	ir@asiabroadbandinc.com
Token Support:	www.AABBGoldToken.com/support/
Company Website:	www.asiabroadbandinc.com
Token Website:	www.AABBGoldToken.com
Phone:	702-866-9054

Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What recent updates has Asia Broadband Inc. (AABB) announced regarding its acquisition efforts?

Asia Broadband Inc. has received mapping and assay results for the Los Reyes gold mine, indicating promising gold values and ongoing negotiations for acquisition.

What are the assay results from the Los Reyes property announced by AABB?

The assay results show significant gold values, with notable samples assayed at 2.53 grams per ton, among others.

What is the estimated asset value of the Los Reyes project for AABB?

The Los Reyes project has an estimated asset value of $30 million.

How does AABB plan to enhance its gold production capabilities?

AABB plans to enhance its gold production by acquiring the Los Reyes gold mine and processing facility, which will expand its production capacity.

When can shareholders expect further updates on the Los Reyes project acquisition?

AABB anticipates negotiating a definitive agreement for the Los Reyes project soon and plans to release further details at that time.