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LAS VEGAS, Sept. 28, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that it has signed a Letter of Intent (LOI) to enter into a joint venture agreement to secure an 80% interest in the development and production of the Tequila Gold Mine Project concessions located approximately 70 kilometers north of Guadalajara near the town San Martin de las Canas in the municipality of Tequila, Jalisco, Mexico. Previous exploration and drilling on the Tequila property by a Canadian mining company revealed multiple gold and silver mineralization veins with high-grade potential. Even though this evaluative work on the property led to a significant possible resource estimate, the previous company was unable to come to terms with the property owner. The Tequila gold project is another prospective high-yield asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.
In the coming weeks, the Company will be conducting further due diligence and continuing its negotiations to complete the joint venture for the property. All efforts are underway to accelerate this tremendous potential acquisition to expeditiously advance AABB into production and begin an expansion program. Based on the advanced evaluative stage of the Tequila Gold Mine Project, AABB anticipates negotiating a definitive joint venture agreement before the end of October. Company management is exhilarated with the Tequila project for its potential for rapid development, high production and low operating costs.
In further mining property news, AABB has completed its assessment program regarding the Acaponeta-Bonanza property in Mexico. The Company has decided to move forward with this high potential property acquisition and anticipates negotiating a definitive agreement in mid-October.
The Company continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.
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.
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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.