AsiaBaseMetals Announces Acquisition of 100% Interest in Jervis Property (VMS: Cu-Au-Ag-Zn) Hosted within Gambier Group Rocks

On December 9, 2025, AsiaBaseMetals announced it has acquired a 100% interest in the Jervis Property in British Columbia by staking. The 1,000-hectare project is considered prospective for a volcanogenic massive sulphide (VMS) deposit, with target commodities of copper, gold, silver, and zinc. The CEO, Raj Chowdhry, stated the area has seen minimal modern exploration and that the acquisition offers "substantial value." He estimated that previous exploration on the property represents an investment of approximately $750,000 to $1,000,000 in today's dollars, though the company noted it has not independently verified this historical data.

On the surface, acquiring a new project in a prospective region is a standard operational step for a junior explorer. However, when viewed in the context of the company's financial history, this news is entirely without substance and has no positive material impact.

A chronological review of the company's financial statements reveals a company in extreme financial distress: - Year-End (Sept 30, 2024): The company had just $1,777 in cash against $661,439 in accounts payable and accrued liabilities. It funded its limited operations by increasing payables, not by generating cash flow. - Q1-Q3 2025: This trend worsened dramatically. As of the most recent financial report for the period ending June 30, 2025, AsiaBaseMetals had only $830 in cash with accounts payable soaring to $784,108. The company has a working capital deficiency of over $765,000 and is, for all practical purposes, insolvent.

The acquisition of the Jervis Property was done through staking, which minimizes upfront cash costs. However, exploration requires significant capital, which AsiaBaseMetals does not have. The company cannot afford to conduct even the most basic exploration program on this new property, or its existing Gnome project.

Therefore, this press release is likely intended to generate market interest to pave the way for a desperately needed financing. Given the catastrophic state of the balance sheet, any such financing will be highly dilutive to existing shareholders and is required not for exploration, but for corporate survival. The acquisition is a non-event until the company can secure millions of dollars, which seems highly uncertain.

AsiaBaseMetals Inc. is a Canadian junior mineral exploration company. Prior to the recent news, its main asset was the Gnome Project (Zinc, Cobalt) in British Columbia. With the December 9, 2025 announcement, it has added the Jervis Property (Cu-Au-Ag-Zn VMS target), also in B.C. Both projects are at a very early exploration stage with no defined resources.