AsiaBaseMetals Inc. Announces Appointment of Siniša Žanetić and Iva Majoli to the Advisory Board and Grant of Stock Options

March 23, 2020

NEWS RELEASE

AsiaBaseMetals Inc. Announces Appointment of Siniša Žanetić and Iva Majoli to

the Advisory Board and Grant of Stock Options

Vancouver, BC –March 23, 2020 – AsiaBaseMetals Inc. (the “Company”) (TSX -V: “ABZ”) is pleased

to announce that it has appointed Ms. Iva Majoli and Mr. Siniša Žanetić to the Advisory Board of the

Company.

Mr. Siniša Žanetić is the current President, CEO and a Member of the Management Board (Board of

Directors) of Lola Ribar d.d., Croatia (2013 – Present), a manufacturer and distributor of medical

devices in Croatia and he is the acting President of a medical manufacturers group in the Croa tian

Chamber of Commerce . Mr. Žanetić is a lso the founder of Clinical Research Organization serving

clients from Asia, EU and USA. (DnA technologies d.o.o.).

Prior to joining Lola Ribar d.d. he was the Chief financial Officer (CFO) and a Member of the

Management Board of PLIVA -TIVA Group, Croatia (2011 - 2013), a global pharmaceutical company .

Prior to this position, h e was the Chief Executive Officer (CEO) and President of the Management

Board of Veneto Bank, Croatia (2010 -2011), Chief Operating O fficer (COO) and Member of the

Management Board Karlovacka Bank, Croatia (2006 - 2010), and CFO and Member of the

Management Board of Partner Bank, Croatia (2004 - 2006). In addition, Mr. Žanetić was previously

CFO and Member of Management Board of Zagreb Insurance Company/Raiffeisnbank, Croatia (2001

- 2004), and a Financial Advisor of Merrill Lynch, USA (2000 – 2001).

Mr. Žanetić's education includes the Finance for Senior Executives (FSE - Certificate Program) from

Harvard Business School, USA (2010) . Mr. Žanetić received his Masters of Business Administration

(MBA) from Lynn University, Boca Raton, Florida, USA (2009) and a Bachelors of Arts in Business

Administration/Associates of Arts in Business Administration from Northwood University, West Palm

Beach, Florida, USA (1995). Mr. Žanetić also received n ostrification of his Bachelor’s Degree in

Economics from the University of Zagreb, Croatia (2003).

“It’s my pleasure to welcome Mr. Siniša Žanetić to the Advisory Board of AsiaBaseMetals Inc. The

Company believes that Siniša's innovative business and management experience, understanding of

the pharmaceutical and banking industries together with other businesses especially in Croatia, brand

building ability and social profile, makes him an ideal person to provide guidance to the Company’s

team; adding strength to our organization and future development of the Company, especially in the

cannabis sector in Europe. Having had the pleasure of knowing and spending time w ith Siniša, and

the opportunity to follow his business activities and accomplishments, I’m sure the Company will

benefit from his key attributes as it moves forward, together with the Company’s existing Board

members, Mr. Henry Park, Ms. Terrylene Penstock , Mr. Bruce Bragagnolo, Mr. Ioannis Tsitos , and

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AsiaBaseMetals Inc. (TSX.V: ABZ) | www.AsiaBaseMetals.com

Mr. Jakša Mrčela, with the intention to maximize shareholder value for the Company's shareholders”

stated Chairman of the Board, President & CEO, Raj Chowdhry.

Ms. Iva Majoli is a Croatian former professional tennis player and is the winner of eight (8) Women’s

Tennis Association (“WTA”) singles titles , including the 1997 French Open . Ms. Majoli was named

Croatian Sportswoman of the Y ear in 1994, 1995, 1996 & 1997 . Currently, Ms. Majoli is the Players

Representative of the St. Petersburg Ladies Trophy (2016 - current), the Fed Cup Captain of the

Croatian national Tennis Team (2012 – Present), and she is a WTA Players Board Representative

(Board member; 2019 – Current).

Ms. Majoli continues to contribute time and resources to charities; especially dedicated to help

children with special needs.

“It’s my pleasure to welcome M s. Iva Majoli to the Advisory Board of AsiaBaseMetals Inc. The

Company believes that Iva’s experience, understanding of the sports and health arena, brand building

ability and social and political knowledge, makes her an ideal person to provide guidance to the

Company’s team; adding strength to our organization and future development of the Comp any,

especially in the cannabis sector in Europe. Having had the pleasure of knowing Iva, and the

opportunity to follow her accomplishments, I’m sure the Company will benefit from her key attributes

as it moves forward, together with the Company’s existing Advisory Board members, Mr. Josko Vukic,

Goran Ivanišević, Mr. Yuvraj Solanki, Mr. Joe Piekenbrock, Mr. Bob Jacko, Mr. Tunaye Sai, and

Mr. Andrew Bowering , with the intention to maximize shareholder value for the Company's

shareholders” stated Chairman of the Board, President & CEO, Raj Chowdhry.

Stock Option Grant

The Company is also pleased to announce, subject to TSXV approval, that it has granted an aggregate

of 300,000 stock options under its stock option plan to certain consultants, including members of the

Advisory Board of the Company. These options will be exercisable at $0.40 for a period of two years

from the date of granting. Of the total stock options granted, 50% will be full y vested upon grant;

with 25% of the stock options vesting on September 23 , 2020 and the remaining 25% on

March 23, 2021.

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, President and Chief Executive Officer of the Company

Email: [email protected]

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Cautionary Note Regarding Forward -Looking Statements: : Certain disclosure in this news release,

including statements regarding the Company’s pursuit of opportunities in the cannabis sectors in

Europe, may constitute "forward -looking information" within the meaning of Canadian securities

legislation. In making the forward-looking statements in this news release, the Company has applied

certain factors and assumptions that the Company believes are reasonable, including that the

Company will be able to secure strategic opportunities in the cannabis sectors in Europe and that such

opportunities will have the benefits expected by management . However, the forward -looking

statements in this release are subject to numerous risks, uncertaintie s and other factors that may

cause future results to differ materially from those expressed or implied in such forward -looking

statements. Such uncertainties and risks include, among others, financing risks, delays in identifying

strategic opportunities in the cannabis sectors in Europe, delays in obtaining or inability to obtain

required regulatory approvals for strategic opportunities in the cannabis sectors in Europe, such

opportunities will not be completed or will not have the benefits expected by management, all of the

other risks generally associated with the pursuit of opportunities in the cannabis sectors in Europe,

and changes in the Company’s plans. There can be no assurance that such statements will prove to

be accurate, and actual results and future events could differ materially from those anticipated in such

statements. Readers are cautioned not to place undue reliance on forward -looking statements. The

Company does not intend, and expressly disclaims any intention or obligation to, update or revise any

forward-looking statements whether as a result of new information, future events or otherwise,

except as required by law.