Mr. Raj Chowdhry reports

ASIABASEMETALS ANNOUNCES ACQUISITION OF 100% INTEREST IN JERVIS PROPERTY (VMS: CU-AU-AG-ZN) HOSTED WITHIN GAMBIER GROUP ROCKS

AsiaBaseMetals Inc. has acquired, through staking, a 100-per-cent interest in the Jervis property in the highly prospective Gambier group. The Jervis project exhibits strong potential for a Britannia-mine-style volcanogenic massive sulphide (VMS) deposit. Britannia produced roughly 47.8 million tonnes of ore averaging 1.1 per cent copper, 0.65 per cent zinc, 6.8 grams per tonne silver and 0.6 gram per tonne gold (Minfile, 2008), making it the largest VMS deposit mined in British Columbia and the second-largest discovered after Windy Craggy).

The Jervis project, comprising 1,000 hectares of contiguous mineral claims, is strategically situated along the VMS-prospective trend of the Gambier group in British Columbia, Canada. This trend also hosts the Britannia mine, located approximately 55 kilometres to the southeast, and the Rox Project (5,131 hectares), approximately 20 kilometres to the northwest and staked by Kenorland Minerals Ltd. This favourable geological setting underscores the Jervis project's strong potential for VMS mineralization. However, the company cautions that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization that may be hosted on the Jervis project.

The Jervis property ranges in elevation from sea level at Jervis Inlet to nearly 1,260 metres at its eastern extent. Local weather conditions generally permit exploration activities for more than 10 months of the year. The Jervis project is located approximately 80 kilometres northwest of Vancouver, B.C., and 11 kilometres north of Egmont village on the Sunshine Coast. Like the nearby Rox project, the Jervis property lies within the traditional territory of the Shishalh First Nation and is subject to the mineral claims consultation framework, which has commenced.

Jervis project -- exploration history

The Jervis project has a long exploration history, with open cuts and adits dating back to the 1920s. Approximately 1,371 metres of drilling (Kidlark and Yacoub, 1989) were completed in the late 1960s and early 1970s, but these efforts focused on targeted limited surface showings without applying a VMS exploration model. Subsequent programs -- including rock and soil sampling as well as magnetic (MAG) and very-low-frequency electromagnetic (VLF) surveys in 1989 and 1993 -- highlighted the potential for Britannia-style mineralization. However, these programs did not prioritize stratigraphic analysis, which is essential for effective VMS targeting.

Subsequent programs -- including rock and soil sampling and MAG and VLF surveys in 1989 and 1993 -- recognized the potential for Britannia-style mineralization. However, they did not prioritize stratigraphic analysis, which is critical for VMS exploration.

Although earlier exploration programs had notable limitations, they provided valid, pertinent and useful information documenting widespread copper-zinc mineralization, locally accompanied by gold and silver, which may indicate footwall or peripheral mineralization within a VMS system.

A review of publicly available past exploration data on the Jervis project, referred to above, identified several noteworthy results, including a 9.1-metre section of drill core assaying 0.2 per cent copper, a one-metre chip sample across a sediment-volcanic contact returning 24.9 per cent zinc and 0.15 per cent copper, and an 80-centimetre chip sample with 9.98 ounces per tonne Ag, 1.92 per cent copper and 0.16 per cent zinc (Kikauka, 1993). The 1993 soil sampling program outlined a strong, coherent copper-zinc anomaly extending approximately two kilometres in a broad northwest-trending band. Soil samples containing over 800 parts per million copper and/or 1,000 parts per million zinc are common within this zone. Gold, silver, arsenic and lead soil anomalies are more scattered but generally coincide with the broader copper-zinc anomaly.

The historical information referenced in this release is based on data from past exploration programs conducted by previous holders of the Jervis project, primarily from the 1960s to 1993 and which are publicly disclosed, as referred to above. This information is considered relevant as it indicates the presence of mineralization, but its reliability is unknown as the company has not independently verified the results. To the extent known, the key assumptions, parameters and methods used to prepare the historical exploration results are not fully documented or available to the company. Further exploration work, including drilling, is required to upgrade or verify the historical results.

A property visit to the Jervis project by Helgi Sigurgeirson, PGeo, in 2019 confirmed that the volcanics on the Jervis property are bimodal, consistent with a Britannia-style VMS system. The rhyolites were classified as Type II, further supporting a VMS interpretation. Notably, the rhyolites appear to be spatially associated with the soil anomaly.

The Jervis project is considered highly prospective for VMS-style mineralization comparable with the Britannia mine. The company is designing its exploration program accordingly to evaluate this potential (see the "Jervis project -- exploration plan" section below).

Jervis project -- exploration plan

The Jervis property has not been subject to systematic VMS exploration, in the company's opinion. Prior drilling did not effectively evaluate the key historic showings or the soil anomaly north of Lone Jack Creek and was conducted without the benefit of a clear understanding of the volcanic stratigraphy. Moving forward, the property will be explored using modern methods specifically designed to target VMS mineralization.

Raj Chowdhry, chief executive officer, stated: "The Jervis project area of British Columbia has seen minimal exploration despite its highly prospective geology. The company's acquisition of the Jervis project positions it as one of the few active explorers in the region, alongside Kenorland Minerals Ltd., a successful project generator that staked the Rox project (5,131 hectares) in 2022 -- a property similar to and along trend with both the Jervis property and the Britannia deposit, which was mined for over 70 years. Britannia mine was once the largest producer of copper in the countries forming the British Commonwealth.

"In my judgment, the exploration programs previously conducted and publicly disclosed on this property likely represent an investment of approximately $750,000 to $1-million in today's dollars. When combined with the promising results (ranging as noted above under the heading 'Jervis project -- exploration history,' from low insignificant results up to highs of 1.92 per cent Cu, 9.98 ounces per ton Ag and 24.9 per cent Zn) from historical sampling, this acquisition offers the company substantial value and further strengthens our ability to enhance shareholder value.

"As outlined in my May, 2025, message (previously posted on the company's website), I anticipate continued strength in mining markets, building toward a sustained bullish cycle. This favourable environment positions AsiaBaseMetals to pursue new opportunities aggressively. By prudently waiting for the junior mining sector to recover and minimizing shareholder dilution through controlled expenditures, including exploration, the company's directors, management and advisory board have now launched a focused acquisition strategy to capitalize on current market conditions. With the successful acquisition of the highly prospective Jervis project completed, we are now actively evaluating additional advanced projects for acquisition in safe jurisdictions, with a strong preference for the Americas (currently reviewing projects in Canada, the United States, Mexico and Chile), with a focus on the copper and gold sectors."

Qualified persons

Helgi Sigurgeirson, PGeo, a consultant to the company, a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content in this news release.

This news release may contain information about adjacent properties in which the company does not have an interest. The qualified person has not verified this information, and it is not necessarily indicative of the mineralization of the Jervis project.

About AsiaBaseMetals Inc.

AsiaBaseMetals is a growth-oriented company focused on the exploration and development of base and precious metals. The company is actively pursuing exceptional early-stage and advanced projects in the copper and gold sectors while prudently advancing its existing assets, including the Jervis project (100 per cent owned) and the Gnome project (100 per cent owned), in line with prevailing market conditions. Led by an award-winning team, AsiaBaseMetals' growth strategy is matched by the scale of the opportunities before it.

The Gnome project, a zinc/cobalt exploration property (comprising contiguous mineral claims totalling 1,996 hectares), is situated in a highly prospective region, 35 kilometres southeast along trend from the Cirque deposit, a joint venture between Teck Resources Ltd. and Korea Zinc (50 per cent each), and 15 kilometres southeast of Zincx Resources' Cardiac Creek deposit.

The Cirque deposit, Cardiac Creek deposit, Pie, Cirque East and Yuen properties, the Cirque property, and the Gnome project all lie within the same geological belt northeast of Williston Lake in northeastern British Columbia, Canada. This belt follows a north-northwest-to-south-southwest trend in the southern part of the Kechika trough, which is part of the regionally extensive Paleozoic Selwyn basin. The Selwyn basin is recognized as one of the world's most prolific sedimentary basins for sedimentary exhalative (sedex) zinc-lead-silver and stratiform barite deposits, which were extensively explored during the late 1970s and early 1980s.

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