Asia Broadband Inc. (OTC: AABB) Completes the Sale of Its Bonanza Gold Mine

Asia Broadband Inc. (OTC: AABB) has completed the sale of its 100% wholly-owned mineral property the Bonanza Gold mine located in Acaponeta, Nayarit, Mexico. The property assets were sold to Industrias Friesen S.A. DE C.V. for $14.8 million cash, a $10.2 Million Earn-Out Payment and an on-going production royalty.

The consideration payable to the Company is comprised of:

* $14.8 million cash on closing;

* An on-going royalty of 8% of the net smelter return payable on all gold and silver recovered from the Bonanza Gold mine for the first five years from the commencement of commercial production at the mine; and

* A $10.2 Million Earn-Out Payment to be paid to the Company one year following the commencement of commercial production at the mine.

The Bonanza Gold mine property assets are in close proximity to the new AABB processing plant in Acaponeta, Nayarit, Mexico. This allows for optimal utilization of the Company's capital and personnel in expanding its property assets and pay-mixes.

"The sale of Bonanza is an advantageous transaction for AABB financially and operationally. It's a win-win for the Company to channel the considerable capital from the sale into the expansion of our property assets and facilities that are in closer proximity to our new plant. The added feasibility and efficiency of going in this direction speaks to our operating philosophy of optimal capital utilization where we have a synergy of resources available,” stated Chris Torres, AABB President and CEO.

AABB continues to implement its mining property portfolio strategy to optimize development capital utilization. By focusing operations in specific regions of Mexico, 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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