Asia Broadband Inc. has signed a definitive purchase agreement to acquire a 100% interest in the Bonanza gold mine project. The company came to terms with Martin Augusto Vallejo Lujambio for the 19.25-hectare concession No. 221977, Bonanza, located approximately 48 kilometers (km) southeast from the city of Acaponeta and 3 km from the town of El Carrizo, in Nayarit, Mexico. The total purchase price of the property was $6 million split into $2 million cash and $4 million in restricted shares of Asia Broadband Inc.

Located in the prolific mining region of Acaponeta in Nayarit, Mexico, the Bonanza property has shown high-grade gold assay results from recent samples and drilling activities with the most significant gold values of more than 10 grams per ton (g/t).

AABB said it 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.