LAS VEGAS, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company is expecting to receive an expanded certified geological technical report by the first week of September on its 100% owned registered concession at the Bonanza Gold Mine Project located in Acaponeta, Nayarit, Mexico. The Company will continue broadening its ongoing exploration and development activities at Bonanza directed by the new guidances and recommendations contained in the upcoming second technical report. The outstanding indications revealed during the compilation process of the new report signify the potential for a substantial increase in development scope and production planning for the Bonanza property.

The preliminary mineral resource estimates of gold and silver values contained in the initial technical report exceed $10 million at the current spot precious metal prices, prior to the Company’s ongoing work programs. The AABB geological and mining operations team has been utilizing the report to maximize its exploration, development and resource expansion program, as well as facilitate production, efficiencies and processing equipment installations. The Bonanza gold project is another prospective high yield mining asset in the Company’s strategic initiative to increase gold production and AABB’s physical gold holdings.

Located in the prolific mining region of Acaponeta in Nayarit, Mexico, the Bonanza property has shown high-grade gold assay results from samples and drilling activities with the most significant gold values of more than 10 grams per ton (g/t). Company management is excited by the Bonanza project for its potential for rapid expansion, high production, low operating costs and strong contribution to gross profits.

To download the initial Bonanza Project Certified Geological Technical Report, go to: https://asiabroadbandinc.com/acaponeta-bonanza-report/

“The expanded resource scope in the new technical report is an exciting milestone for the mining team that will further reveal the high potential of Bonanza and refine our ongoing development and production operations,” stated Chris Torres, AABB President and CEO.

AABB 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 of precious metals and the accumulation of physical gold holdings. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate the expansion of precious metals property holdings and production in Mexico. The Company's industry and business integration in Mexico and its asset diversification are unique strengths of AABB that differentiate it from other companies and creates distinctive value for shareholders. Additionally, the Company has a digital assets business segment with its AABBG mine-to-token gold-backed cryptocurrency within its own proprietary AABB Wallet and the unique Golden Baboons Mining Club and Shorts Rascal Club Non-Fungible Token (NFT) collections. AABB expects its token to become a world-wide standard of exchange that is stable, secured and trusted with gold backing, while having the added benefit of demand based price appreciation. These are unique and outstanding qualities relative to other cryptocurrencies and digital asset developers.

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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.