CEO & Chairman of the Board's Message - "Building & Enhancing Shareholder Value" &

December 12, 2025

AsiaBaseMetals Inc. (the “Company”,  a Futura Capital Group company) is strategically positioning itself to capitalize on the ongoing changes in the mining sector (the “Mining-Sector”), with an anticipated upturn in the junior mining sector (the “Jr-Mining-Sector”) expected to follow the already well-entrenched upturn in the senior mining sector (the “Sr-Mining-Sector”); collectively, mining sector up-turn the “Mining-Sector Up-Turn”, as outlined in my March 25, 2025 update.

To capitalize on the anticipated Jr-Mining-Sector 's Up-Turn, which historically generally follows an already well-entrenched Sr-Mining Sector's Up-Turn, the Company’s Management, Board, and Advisory Board (jointly, the “Team”) is not only advancing its recently acquired Jervis Project (the "Jervis Project") 100% owned; highly prospective VMS system; see News Release dated December 5, 2025) and its long-held Gnome Project (the" Gnome Project ") 100% owned;  in line with prevailing market conditions, but is also actively pursuing value-driven projects and assets globally in safe, mining-friendly jurisdictions. The Company maintains a strong preference for the Americas (the "Americas") and is targeting both exceptional early-stage and advanced opportunities in copper ("Cu"), gold ("Au"), silver ("Ag"), and zinc ("Zn").

In keeping with this growth strategy, the Company is currently evaluating additional advanced-stage projects for acquisition in the Americas  and is reviewing opportunities in Canada, the United States, Mexico, and Chile, with a specific focus on the copper and gold sectors. The scale of the Company’s growth strategy is matched by the scale of opportunities currently before it.

It is also worth noting that the Company’s Team remains deeply committed to building shareholder value. Collectively, the Team holds approximately 75% of the Company’s equity. Institutional shareholders hold approximately 5%, while long-term shareholders hold approximately 14% of the outstanding shares.

Jervis Project  

The highly prospective Jervis Project, comprising approximately 1,000 hectares of contiguous mineral claims, is strategically situated along the VMS-prospective trend of the Gambier Group  in British Columbia, Canada which also hosts the Britannia VMS Deposit  and the Rox Project (5,131 hectares) staked by Kenorland Minerals Ltd. in 2022 in BC, Canada, and exhibits strong potential for a Britannia Mine-style volcanogenic massive sulphide (“VMS”) deposit. The Britannia Mine is located approximately 55 km to the southeast, and the Rox Project approximately 20 km to the northwest of the Jervis property. This favourable geological setting underscores the Jervis Project’s strong potential for VMS mineralization.   A review of publicly available past exploration data on the Jervis Project identified several noteworthy results, including a 9.1 m section of drill core assaying 0.2% Cu, a 1 m chip sample across a sediment-volcanic contact returning 24.9% Zn and 0.15% Cu, and an 80 cm chip sample with 9.98 ounces per tonne (“oz/t”) Ag, 1.92% Cu, and 0.16% Zn. (Kikauka, 1993).

THE 1993 SOIL SAMPLING PROGRAM OUTLINED A STRONG & COHERENT Cu-Zn ANOMOLY EXTENDING 2 km IN A BROAD NORTHWEST NORTHEAST-TRENDING BAND. 

In my judgement, the exploration programs previously conducted and publicly disclosed on this property likely represent an investment of approximately $750,000 to $1,000,000 in today’s dollars; Hence, providing us great value without diluting shareholders.

Britannia produced roughly 47.8 million tonnes of ore averaging 1.1% copper (“Cu”), 0.65% zinc (“Zn”), 6.8 grams per tonne (“g/t “) silver (“Ag”), and 0.6 g/t gold (“Au”) (Minfile, 2008), making it the largest VMS deposit mined in British Columbia and the second largest discovered after Windy Craggy).  The Britannia deposit which was mined for over 70 years was once the largest producer of copper in the countries forming the British  Commonwealth. 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. (for more details - see Review of Facts - Jervis Project heading below)

 Gnome Project 

The  highly prospective Gnome Project, comprising approximately 1,800 hectares of contiguous claims, is strategically located in the Kechika Trough (the Kechika-Trough") of the regionally extensive Paleozoic Selwyn Basin (the "Selwyn Basin"), a region that also hosts several significant notable deposits (the "Significant Notable Deposits") in British Columbia, Canada. The Notable Deposits include the adjacent Cirque Deposit (owned by the [Teck & Korea Zinc Joint Venture  ("T-KZ-JV" - 50% Each]; and Cardiac Creek (owned by ZincX, a junior miner)  A comparison of the three  projects  is provided for your convenience.(see heading Comparing Projects - in Gnome Project Area - Kechika Trough below). 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 Gnome Project.  (for more details - see Review of Facts - Jervis Project heading below)

The Future of the Mining Sector

With the Company's Projects and direction having been outlined above, I'd like to turn my attention to the Mining-Sector Up-Turn referred to above. 

But, before i do, I want you to review the Cautionary Note provided below.

CAUTIONARY NOTE: Pursuant to Regulatory Rules - I hereby  inform you & acknowledge that my thoughts, opinions and statements which I'm about to share with you are certainly likely considered forward-looking statements.  As such, I urge & insist that you read the  "Cautionary Disclaimer" available on the Company's website; especially because I'm required to inform you do so under Regulatory Rules.

Future of the Mining Sector - Assessment

• The mining sector (the "Mining-Sector"), especially the junior mining sector (the "Junior Mining-Sector"), which has endured a cyclical downturn for over a decade  (“Mining-Sector Decade-Long Downturn”) is finally expected to see a favorable positive shift (the "Mining-Sector Turn-Up"), and  imminently; likely within the next six (6) to ten (10) months (the "Market Sector Turn-Up Time-Line"; and

• Further, this Mining Sector Turn-Up will likely develop into the best Mining-Sector ever in the history of man-kind to date (the "Biggest Mining-Sector Bull-Market"); likely by the end of this decade (the "Mining-Sector Bull-Market Time-Line"), being by 2030; and

• This optimistic view is driven by record-high gold prices exceeding $4,000 per ounce ("Record-High-Gold"- US$.4,379 per ounce October 17, 2025), alongside expected  growing demand for commodities like Iron-Ore, Zinc, Copper, Silver, and Gold. Despite these bullish indicators, the Jr-Mining-Sector yet to regain significant investor traction as the mining industry transitions out of the disarray & Decade-Long Downturn. 

NOTE: Forecast Time-Line as outlined may change , either way due to factors yet unseen - but surely ...  "YOU KNOW - ITS ONLY MATTER OF TIME" ! **  (**Seeking Personal Financial Advisor's Agreement Recommended pursuant to Disclaimer)  

NEXT, I WILL ADDRESS THE ISSUE OF THE BIGGEST MINING-SECTOR BULL-MARKET DRIVERS & THE COMPANY'S PLANS (See Below)