Asia Broadband Enters into LOI for Acquisition of Underground Mine and Mining Concession in Etzatlán, Mexico for Total Consideration of $5.5M
Rhea-AI Summary
Asia Broadband (OTC:AABB) signed a non-binding LOI to acquire a high-grade underground gold and silver mining concession in Etzatlán, Jalisco, Mexico for $5.5 million. The property lies near AABB’s Etzatlán processing plant and features historical drill results of 9–12 GPT gold and 350–400 GPT silver. The company targets definitive agreement and closing in the third quarter, with mine planning, extraction and processing activities expected to start in the fourth quarter of 2026, subject to due diligence, title verification and regulatory approvals.
Positive
- LOI to acquire Etzatlán underground mine for $5.5 million
- Historical drilling shows 9–12 GPT gold grades
- Historical drilling shows 350–400 GPT silver grades
- Asset located near AABB’s Etzatlán gold and silver processing plant
- Targets production-related activities starting in Q4 2026 in Etzatlán district
Negative
- LOI is non-binding apart from standard provisions
- Closing depends on definitive agreement and satisfactory due diligence
- Transaction requires verification of title and technical data
- Completion subject to customary conditions and any required approvals
News Market Reaction – AABB
In the Jul 1 session, AABB declined 0.78%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LAS VEGAS, July 01, 2026 (GLOBE NEWSWIRE) -- Asia Broadband Inc. (OTC: AABB) ("AABB" or the "Company") announces today that the Company has entered into a Letter of Intent ("LOI") to acquire a high-grade gold and silver underground mining concession located in the Etzatlán region of Jalisco, Mexico, for a total consideration of
The targeted mining concession is an underground mine mining property located in close proximity to the Company's Etzatlán gold and silver processing plant. Based on historical drilling data analyzed to date by the Company, the property has advanced historical drilling results with highlights between 9 GPT (Grams Per Ton) and 12 GPT of gold, and between 350 GPT and 400 GPT of silver.
The proposed acquisition is a strategic step forward in the Company's Etzatlán mining district expansion plan. The definitive agreement is expected to be finalized and the acquisition completed in the third quarter. Subsequently, the Company will be advancing mine and production planning and begin the implementation of extraction activities, and the processing of mineralized material at the Company's Etzatlán gold and silver processing plant during the fourth quarter of 2026.
"This LOI represents an important component in expanding our Etzatlán production district," said Chris Torres, AABB President and CEO. "The historical gold and silver grades evaluated to date are extremely attractive, and the underground mining profile fits well with our strategy of acquiring mineralized material in proximity to our Etzatlán plant. We believe that this acquisition holds tremendous potential for us."
The LOI is non-binding except for customary exclusivity, confidentiality, and due diligence provisions. Closing of the acquisition is subject to the execution of the definitive agreement, satisfactory due diligence, verification of title and technical data related to the mining concession, customary closing conditions, and any required regulatory or governmental approvals.
More details about the mining concession, acquisition, historical drilling data, the mine plan, and production timeline will be disclosed when available.
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 and silver 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 and AABBS mine-to-token gold and silver-backed cryptocurrencies within its own proprietary GoldAxis 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.
Contact the Company at:
| General Email: | ir@asiabroadbandinc.com |
| Token Support: | support@aabbgmine2token.com |
| Company Websites: | www.asiabroadbandinc.com |
| www.aabbgmine2token.com | |
| www.goldenbaboons.com | |
| Phone: | 702-744-4785 |
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.
