AsiaBaseMetals Inc. Announces Appointment of Mr. Sorin Posescu and Mr. Akbar Hassanally to the Advisory Board of the Company and Granting of Stock Options

Vancouver, November 2, 2023 - AsiaBaseMetals Inc. (TSXV: ABZ) (the "Company") is pleased to announce the appointment of Mr. Sorin Posescu and Mr. Akbar Hassanally to the Advisory Board of the Company.

Advisory Board Members

Mr. Posescu is a registered Professional Geologist with the Association of Professional Engineers and Geologists of British Columbia, Alberta, and Ontario. Sorin has served on multiple boards as Director for both private and publicly traded resource development companies and has extensive experience in M&A and a strong background in project valuation.

Mr. Hassanally is the founder and managing director of Mondo Capital Partners Inc. Akbar has over thirty years of experience in capital markets including working with high net worth, corporate and global institutional clients.

Raj Chowdhry stated, "It is my pleasure to welcome Mr. Posescu and Mr. Hassanally to the Advisory Board of AsiaBaseMetals Inc. Mr. Posescu and Mr. Hassanally join the Company's already impressive Advisory Board, comprised of Mr. Joe Piekenbrock, Mr. Bob Jacko, Mr. Yuvraj Solanki, Mr. Kashmir Heed and Andrew Bowering."

Stock Options

The Company, subject to approval from the TSX Venture Exchange, has granted 400,000 incentive stock options (the "Options") to consultants of the Company under the Company's Stock Option Plan.

The Options were granted at an exercise price of $0.20. The Options are exercisable for a five-year term, expiring on November 2, 2028.

Corporate Update

The Company, pursuant to the terms set out in the option agreement dated March 30, 2023 (the "Option Agreement") between AsiaBaseMetals Inc. (the "Optionee") and 2758145 Ontario Ltd. (the "Optionor"), covering three properties [(1) Robbins Lake Property, (2) Moosetrack Lake Property, and (3) Cedar River Property], has terminated the option on two properties [(1) Robbins Lake Property, and (2) Moosetrack Lake Property] effective October 24, 2023. The Company is moving forward with the option on the Cedar River Property.

About AsiaBaseMetals Inc.

AsiaBaseMetals, a company focused on advancing its projects in the mining sector and developing and evaluating additional opportunities, is led by an experienced and successful business and mining team. The company is advancing its 100-per-cent-owned Gnome zinc/cobalt project in world-class mining district in Canada, one of the safest and mining-friendly districts in the world. In addition, the company is seeking to further diversify its portfolio, with special attention directed to advanced acquisition targets in the Americas, Asia, and Africa for base metals (copper), alkali metals (cobalt and lithium) and precious metals (gold and silver).

For more information, please email contact@asiabasemetals.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

AsiaBaseMetals Inc.
Raj Chowdhry, Chief Executive Officer
Email: contact@asiabasemetals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186042