Palm Beach, FL – March 9, 2022 – FinancialNewsMedia.com News Commentary – This week… Gold prices briefly scaled the $2,000 level for the first time in 1-1/2 years, as investors rushed to the safety of the metal in the wake of an escalating Russia-Ukraine crisis, while supply disruption fears sent palladium to an all-time high on Monday.  According to CNBC, spot gold was up 0.59% to $1,980.07 per ounce, shortly after 10 a.m. ET, after scaling its highest price since Aug. 19, 2020 at $2,000.69 earlier in the day. U.S. gold futures rose about 1.05% to $1,987.30.  “Gold will likely find some heavy traffic around the $2,000 level initially, but once it is cleared, assuming no change in the Ukraine situation, it will quickly move to the $2,100 region and on to new all-time highs,” said OANDA senior analyst Jeffrey Halley.  Fighting stopped about 200,000 people from evacuating the besieged Ukrainian city of Mariupol for the second day in a row on Sunday, as Russian President Vladimir Putin vowed to press ahead with his invasion unless Kyiv surrendered.  Holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, rose to their highest since mid-March 2021 on Friday.  Active Companies in the markets today include Asia Broadband Inc. (OTCPK: AABB), New Gold Inc. (NYSE: NGD) (TSX: NGD), Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM), Kinross Gold Corporation (NYSE: KGC) (TSX: K), YAMANA GOLD INC. (NYSE: AUY) (TSX: YRI).

“We’re looking at a very significant pick-up in concerns around the disruptions with Ukraine seemingly because the conflict is showing signs of broadening,” said Ilya Spivak, a currency strategist at DailyFX, pointing to speculations about more Western sanctions, perhaps even a formal ban on Russian oil imports.  Spot gold may keep rising towards $2,065 per ounce, according to Reuters’ technical analyst Wang Tao.

Asia Broadband Inc. (OTCPK: AABB) BREAKING NEWS – Asia Broadband Signs Letter of Intent to Add Adjacent Properties to the Recent Zodiac Acquisition High-Grade Gold Mine in Mexico –  Asia Broadband Inc. (“AABB” or the “Company”) is pleased to announce that it has signed a Letter of Intent (“LOI) to acquire additional high-grade gold properties Zodiac II and Zodiac III in Buen Pais, Mexico.  AABB management is in the process of negotiating the terms of the prospective new adjacent acquisitions to add to the recently acquired Zodiac I property and management expects to reach an agreement after a due diligence and assessment period.

Last week, the Company signed a definitive purchase agreement to acquire a 100% interest in the Zodiac I Gold Mine Project in Buen Pais (“Good Country”), Mexico. The Company came to terms with Felipe Chávez Serrano and group for the 200 hectare concession, # 218704, Zodiaco I, located in the community of Buen Pais approximately 15 kms southeast from the municipality of Tonila and 30 kms from the city of Colima in Tuxpan, Jalisco, Mexico. The total purchase price of the property was $700,000 and the Company has the option to acquire two additional Zodiac concessions. Along with the property acquisition is a 150 ton per day (tpd) capacity processing plant available for lease and expansion. The Zodiac gold project is another prospective high yield asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.

To download the complete Buen Pais-Zodiac Preliminary Geological Report, go to:   https://asiabroadbandinc.com/wp-content/uploads/2022/03/PROJECT-BuenPais-english.pdf

The assays in the geological report revealed high-grade gold and silver values from the non-targeted rock samples that were randomly collected throughout the property. Some of the most significant high-grade gold values were 101.6 grams per ton (g/t) and 26.2 (g/t). The Company is highly encouraged by the viability of these preliminary results that strongly indicate that targeted drilling samples directed by geophysics data could confirm similar high-grade mineralization values and concentrations throughout the property.

Company management is excited by the Zodiac acquisition and its expanded area for its potential for rapid expansion, high production, low operating costs and strong contribution to gross profits.

“The Zodiac I is an amazing acquisition for the us in terms of its production potential and economic value.  Also, it is the third high-grade property now in the AABB mining portfolio. Generally, we are absolutely thrilled with the progress we have made over the past year with our new gold property acquisitions and our team is very focused now on their rapid development and production. And adding the Zodiac II and III to our development area would tremendously increase the production potential”, expressed Chris Torres, the Company President and CEO.  CONTINUED…  Read this full release for Asia Broadband at:  https://www.financialnewsmedia.com/news-aabb/

Last week Asia Broadband announced that it had signed a definitive purchase agreement to acquire a 100% interest in the Zodiac Gold Mine Project in Buen Pais (“Good Country”), Mexico. The Company came to terms with Felipe Chávez Serrano and group for the 200 hectare concession, # 218704, Zodiaco I, located in the community of Buen Pais approximately 15 kms southeast from the municipality of Tonila and 30 kms from the city of Colima in Tuxpan, Jalisco, Mexico. The total purchase price of the property was $700,000 and the Company has the option to acquire two additional Zodiac concessions. Along with the property acquisition is a 150 ton per day (tpd) capacity processing plant available for lease and expansion. The Zodiac gold project is another prospective high yield asset addition in the Company’s strategic expansion initiative to acquire gold production and increase the AABB’s physical gold holdings.

Other recent developments in the mining markets include:

New Gold Inc. (NYSE American: NGD) (TSX: NGD) recently reported fourth quarter and full year 2021 results, updates Mineral Reserves and Mineral Resources for the Company as of December 31, 2021, and provided its 2022 operational outlook. For detailed information, please refer to the Company’s Management’s Discussion and Analysis (“MD&A”) and consolidated financial statements for the year ended December 31, 2021 that are available on the Company’s website at www.newgold.com and on SEDAR at www.sedar.com. The Company uses certain non-GAAP financial performance measures throughout this news release. Please refer to the “Non-GAAP Financial Performance Measures” section of this news release and the MD&A for more information. Numbered note references throughout this news release are to endnotes which can be found at the end of this news release.

“While we had to navigate challenges throughout 2021, I am extremely proud of our resilient team and the way we ended the year,” stated Renaud Adams, President & CEO. “The fourth quarter delivered our strongest production quarter of the year, allowing us to meet our updated guidance. It was also our lowest quarter from a cost perspective, leading to our highest free cash flow quarter of the year. Adding to that, we exited the year on a strong note with the sale of the Blackwater gold stream. The value we have been able to crystallize through multiple Blackwater-related transactions since August 2020 has positioned our Company with a peer-leading balance sheet and the financial strength to execute on our strategy.” 

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) recently announced senior management changes and reported fourth quarter and full year 2021 financial and operating results, as well as future operating guidance.

Ammar Al-Joundi has been appointed President and Chief Executive Officer, effective immediately. Mr. Al-Joundi is a proven executive with a long history of mining industry experience who previously served as President of Agnico Eagle. With this appointment, Mr. Al-Joundi joins the Company’s board of directors (the “Board”).  Anthony Makuch advised the Board that he has decided to step down as Chief Executive Officer and as a director of Agnico Eagle.

Mr. Al-Joundi has over 20 years of experience in mining, capital markets and banking, with specialization in finance and business strategy. He joined Agnico Eagle as President in 2015, after serving as Chief Financial Officer at Agnico Eagle (from September 2010 to June 2012) and as Chief Financial Officer and Senior Executive Vice President at Barrick Gold Corporation (from July 2012 to February 2015). Prior to joining Agnico Eagle in 2010, he spent 11 years at Barrick in various senior financial roles including Senior Vice-President of Finance, Senior Vice-President of Business Strategy and Capital Allocation, and Executive Director and CFO of Barrick South America.

Kinross Gold Corporation (NYSE:KGC) (TSX:K) recently said it is deeply concerned about the loss of life and destruction in Ukraine and wishes to express its sympathy and support for the people who are suffering because of this tragic situation.

The Company today is announcing a donation of $1,000,000 to the Canadian Red Cross Ukraine Humanitarian Crisis Appeal to assist those people most in need. Kinross is hopeful for a peaceful and diplomatic solution in Ukraine.

The Company is suspending all activities at its Udinsk development project. The Company is also in the process of suspending operations at its Kupol mine, with the focus on the safety and well-being of its more than 2,000 employees and in recognition of its obligations to manage and mitigate the mine’s environmental impact on an ongoing basis.

YAMANA GOLD INC. (NYSE:AUY) (TSX:YRI) recently provided 2022, 2023 and 2024 production guidance, 2022 cost guidance and an update to its ten-year outlook.

HIGHLIGHTS WERE:  The Company is maintaining its 2022 production guidance and expects production not to be less than 1,000,000 gold equivalent ounces (“GEO”). For 2023, the Company is increasing its production guidance from 1,000,000 GEO to 1,030,000 GEO. The Company sees further near-term growth continuing in 2024 with production increasing to 1,060,000 GEO.

For 2022, the Company expects total cost of sales, cash costs and AISC not to exceed $1,215, $725 and $1,080 per GEO respectively. Over the three-year guidance period, the Company is expecting the increase in GEO production to have a positive impact on costs. In particular, the Company’s lowest-cost operation, Jacobina, is a significant contributor to the increase in production over the guidance period, and consequently the Company anticipates this will drive down the average cost of production, improving overall margins and cash flow.

The Company introduced an inaugural longer-term, ten-year outlook last year to demonstrate the confidence it has in the sustainability of its production platform and in the long mine lives of its assets. Exploration successes have provided significant support for the ten-year outlook and those successes underpin that outlook this year with a greater certainty than when it was first introduced. The Company expects to provide a formal update on its longer-term ten-year outlook every other year to allow more time for exploration, mineral resource conversion and evaluation of the foregoing to longer-term production plans.

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