News Releases

Confirmation Drilling Validates High-Grade Mineralization Adjacent to Diablillos Project

Toronto – March 30, 2026: AbraSilver Resource Corp. (TSX: ABRA; OTCQX: ABBRF) (“AbraSilver” or the “Company”) is pleased to announce that it has completed the acquisition of the Condoryacu and Maria Amalia properties, located immediately adjacent to its flagship Diablillos project in Argentina (the “Project”).   The acquisitions were completed following final payments of US$2.5 million for the Condoryacu property and US$250,000 for the María Amalia concession, as previously announced on February 17, 2026. 

The company is also pleased to report initial drilling results from its ongoing Phase VI exploration program, including results from Condoryacu and Oculto East. 

At Condoryacu, initial confirmatory drilling has returned very strong results, including a broad, high-grade intercept of 72 metres grading 18.7 g/t gold, 117 g/t silver and 2.06% copper beginning at surface. These results confirm the presence of a high-grade precious and base metal mineralized system that appears to be related to the broader Oculto–JAC hydrothermal system at Diablillos.  The 72-metre intercept grading 18.7 g/t gold represents the strongest gold grade-thickness intersection ever reported within the broader Diablillos district.

At Oculto East, the first drill hole of the Phase VI campaign (DDH 26-001) intersected a broad, continuous zone of oxide gold and silver mineralization extending beyond the limits of the current conceptual open pit, further demonstrating the scale and continuity of the overall mineralized system. Follow-up drilling is underway as part of an extensive program to expand and define gold-silver mineralization several hundred metres east of the open pit margin.

Highlights - Widths are reported as drilled and true widths are not yet known.

• Oculto East: The first Phase VI drill hole returned a broad, continuous interval of oxide mineralization:
  • DDH 26-001: Intercepted 207.5 metres (“m”) grading 0.48 g/t gold and 11.4 g/t silver. 
• Condoryacu: Initial confirmatory drilling from two holes at Condoryacu (DDH 26-002 and DDH 26-003) validated historic drill results that indicated the presence of high-grade mineralization beginning at surface:
  • DDH 26-002:   Intercepted a broad interval of high-grade sulphide gold-silver-copper mineralization beginning at surface:
    • 72.0 m of 18.74 g/t gold, 117.4 g/t silver and 2.06% copper, starting at surface (0 m downhole)
  • DDH 26-003: Intercepted multiple stacked zones of high-grade sulphide mineralization:
    • 5.0 m of 11.86 g/t gold, 109.2 g/t silver and 0.34% copper, from 44 m downhole
    • 18.0 m of 4.11 g/t gold, 37.2 g/t silver and 0.09% copper, from 59 m downhole
    • 2.0 m of 1.21 g/t gold, 11.6 g/t silver and 0.05% copper, from 84 m downhole
    • 12.0 m of 5.24 g/t gold, 56.9 g/t silver and 0.45% copper, from 90 m downhole

John Miniotis, President and CEO, commented, “The confirmatory drilling results at Condoryacu demonstrate the presence of a high-grade mineralized system beginning at surface and located immediately adjacent to the Diablillos claims.   The grades and widths encountered in these initial holes confirm historical drilling and point to the presence of modest zone of high-grade mineralization within the broader Diablillos district, warranting further evaluation.”

Table 1 – Summary of Key Drill Intercepts - Condoryacu

Intercepts greater than 25 gram-metres gold shown in bolded text:

Note: All results in this news release are rounded. Assays are uncut & undiluted. Widths are drilled widths, not true widths.  True widths are unknown

Figure 1 –Plan View of Drill Results

Condoryacu Initial Drilling Highlights

Condoryacu is located immediately adjacent to the existing Diablillos land package and is considered part of the broader Oculto epithermal system. The area is considered prospective for both gold and silver mineralization and ground water resources.

Mineralization occurs in outcropping siliceous hydrothermal breccias, with sulphide-hosted gold-silver-copper mineralization beginning directly at surface. The style of mineralization shares geological similarities with the deeper parts of the Oculto system but exhibits a stronger sulphide component relative to the predominantly oxide mineralization currently defined at Diablillos.

Limited historical exploration at Condoryacu comprises 35 diamond drill holes totaling approximately 3,100 metres, completed between 2001 and 2003.  Drilling was carried out by Cardero Resources Corp in 2001 and subsequently by Maximus Ventures in 2003.  Previous drilling intersected mineralization within hydrothermal siliceous breccias, however, only a portion of the approximately 350-metre known strike length has been systematically tested.

The initial confirmatory holes drilled by AbraSilver demonstrate the presence of high-grade sulphide mineralization within the localised system, and additional drilling is planned to fully evaluate the extent and continuity of the system.

Figure 2 – Section Through Condoryacu Drill Holes

Figure 3 –  Plan View of Condoryacu Drill Holes

Oculto East – Highlights

DDH-26-001 was drilled at Oculto East and confirms the presence of a laterally extensive oxide mineralized horizon extending beyond the current conceptual open pit limits.  The broad intercept reinforces the consistency of gold-silver mineralization and supports the interpretation of a continuous system that continues to remain open to the east and at depth.

Figure 4 –  Section Through Hole DDH-26-001

Exploration, Permitting and DFS Update

The Phase VI exploration program is advancing as planned, with a total of 15 drill holes completed so far in 2026, including 11 holes at Oculto East, two holes at JAC and two holes at Condoryacu.  Results from this ongoing program are expected to support future Mineral Resource estimate (“MRE”) updates and further enhance the overall scale of the Project, reinforcing its growth potential beyond the DFS.

The Company continues to advance the Environmental Impact Assessment (“EIA”) process. In Salta, the final community engagement meeting is scheduled for April 10, 2026, representing the final key milestone toward approval, which is expected shortly thereafter.  In Catamarca, the permitting process is also progressing constructively, with continued engagement with provincial authorities and communities, and approval are anticipated in Q2/2026.

In parallel, work on the Definitive Feasibility Study (“DFS”) is advancing on schedule with completion targeted for Q2/2026. The DFS results will incorporate the new MRE from the 2025 Phase V drill program, updated Mineral Reserves based on the latest inputs and a Preliminary Economic Assessment (“PEA”) of a future heap leach expansion.  In parallel, planning is underway for early works activities to expand existing site infrastructure, advance engineering and secure selected long lead-time items ahead of a final investment decision by Q4 of this year.

Collar Data  

Hole Number	UTM Coordinates		Elevation	Azimuth	Dip	Depth (m)	Area
DDH 26-001	720943	7199405	4,458	0	-60	482	Oculto East
DDH 26-002	721819	7197139	4,335	357	-78	101	Condoryacu
DDH 26-003	721842	7197137	4,334	310	-60	120	Condoryacu

About Diablillos

The Diablillos property is located within the Puna region of Argentina, in the southern part of Salta Province along the border with Catamarca Province, approximately 160 km southwest of the city of Salta and 375 km northwest of the city of Catamarca. AbraSilver acquired the property in 2016, which comprises 15 contiguous and overlapping mineral concessions with excellent year-round road access.

Exploration to date has outlined multiple occurrences of silver-gold oxide mineralization at Oculto, JAC, Laderas, and Fantasma, located within a 500 m to 1.5 km distance surrounding the Oculto/JAC epicentre. To date, over 150,000 metres have been drilled on the property, which continues to demonstrate the strong growth potential of shallow, oxide-hosted silver and gold resources.  In addition, a large porphyry complex is centered approximately 4 km northeast of Oculto which includes outcropping porphyry intrusions within a major zone of alteration and associated gold rich epithermal mineralization.

Comparatively nearby examples of high sulphidation epithermal deposits include: La Coipa (Chile); Yanacocha (Peru); El Indio (Chile); Lagunas Nortes/Alto Chicama (Peru) Veladero (Argentina); and Filo del Sol (Argentina). Information regarding mineralization from adjacent or nearby properties, including the deposits listed above, is not necessarily indicative of the mineralization on the Company’s Diablillos project.  The most recent Mineral Resource estimate for Diablillos is shown in Table 3:

Table 3 - Diablillos Mineral Resource Estimate – As of July 21, 2025

	Zone	Category	Tonnes (000 t)	Ag (g/t)	Au (g/t)	AgEq (g/t)	Contained Ag (000 Oz Ag)	Contained Au (000 Oz Ag)	Contained AgEq (000 Oz Ag)
Tank Leach	Oxides	Measured	26,545	119	0.71	183	101,564	604	156,487
		Indicated	46,584	56	0.63	114	84,430	948	170,592
		Measured & Indicated	73,129	79	0.66	139	185,994	1,553	327,078
		Inferred	9,693	34	0.57	86	10,616	176	26,647
Heap Leach	Oxides	Measured	6,673	16	0.14	25	3,486	30	5,342
		Indicated	24,102	12	0.17	23	9,163	133	17,506
		Measured & Indicated	30,774	13	0.16	23	12,649	162	22,848
		Inferred	10,024	9	0.20	21	2,811	64	6,850
Total	Oxides	Measured	33,218	98	0.59	152	105,050	634	161,829
		Indicated	70,686	41	0.48	83	93,593	1,081	188,098
		Measured & Indicated	103,904	59	0.51	105	198,643	1,715	349,927
		Inferred	19,628	21	0.38	53	13,427	241	33,496

Footnotes for Tank Leach Resource:

1. Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.
2. The formula for calculating AgEq is as follows: Silver Eq Oz = Silver Oz + Gold Oz x (Gold Price/Silver Price) x (Gold Recovery/Silver Recovery).
3. The Mineral Resource model was populated using Ordinary Kriging grade estimation within a three-dimensional block model and mineralized zones defined by wireframed solids, which are a combination of lithology and alteration domains.  The 1m composite grades were capped where appropriate.
4. The Mineral Resource is reported inside a conceptual Whittle open pit shell derived using US$ 27.50/oz Ag price, US $2,400/oz Au price, 83% process recovery for Ag, and 87% process recovery for Au.
5. The constraining open pit optimization parameters used were US $1.94/t mining cost, US $22.96/t processing cost, US $3.32/t G&A cost, and average 51-degree open pit slopes.
6. The MRE has been categorized in accordance with the CIM Definition Standards (CIM, 2014).
7. A Net Value per block [NVB] calculation was used to constrain the Mineral Resource, determine the "Benefits = Income-Cost", where, Income = [(Au Selling Price (US$/oz) - Au Selling Cost (USD/Oz)) x (Au grade (g/t)/31.1035)) x Au Recovery (%)] + [(Ag Selling Price (US$/oz) - Ag Selling Cost (USD/Oz)) x (Ag grade (g/t)/31.1035)) x Ag Recovery (%)] and Cost = Mining Cost (US$/t) + Process Cost (US$/t) + Transport Cost (US$/t) + G&A Cost (US$/t) + [Royalty Cost (%) x Income]
8. The Mineral Resource is sub-horizontal with sub-vertical feeders and a reasonable prospect for eventual economic extraction by open pit and tank leach processing methods.
9. In-situ bulk density were assigned to each model domain, according to samples averages for each lithology domain, separated by alteration zones and subset by oxidation.
10. All tonnages reported are dry metric tonnes and ounces of contained gold are troy ounces.
11. Mining recovery and dilution factors have not been applied to the Mineral Resource estimates.
12. The Mineral Resource was estimated by Luis Rodrigo Peralta, B.Sc., FAusIMM CP (Geo), Independent Qualified Person under NI 43-101.
13. Mr. Peralta is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that could materially affect the potential development of the Mineral Resource.
14. All figures are rounded to reflect the relative accuracy of the estimates. Minor discrepancies may occur due to rounding to appropriate significant figures.

Footnotes for Heap Leach Resource:

1. Mineral Resources are not Mineral Reserves and have not demonstrated economic viability.
2. The formula for calculating AgEq is as follows: Silver Eq Oz = Silver Oz + Gold Oz x (Gold Price/Silver Price) x (Gold Recovery/Silver Recovery).
3. The Mineral Resource model was populated using Ordinary Kriging grade estimation within a three-dimensional block model and mineralized zones defined by wireframed solids, which are a combination of lithology and alteration domains.  The 1m composite grades were capped where appropriate.
4. The Mineral Resource is reported inside a conceptual Whittle open pit shell derived using US$ 27.50/oz Ag price, US $2,400/oz Au price, 80% process recovery for Ag, and 58% process recovery for Au.
5. The constraining open pit optimization parameters used and overall operational cost of US $11.31/t.
6. The MRE has been categorized in accordance with the CIM Definition Standards (CIM, 2014).
7. A Net Value per block [NVB] calculation was used to constrain the Mineral Resource, determine the "Benefits = Income-Cost", where, Income = [(Au Selling Price (US$/oz) - Au Selling Cost (USD/Oz)) x (Au grade (g/t)/31.1035)) x Au Recovery (%)] + [(Ag Selling Price (US$/oz) - Ag Selling Cost (USD/Oz)) x (Ag grade (g/t)/31.1035)) x Ag Recovery (%)] and Cost = Mining Cost (US$/t) + Process Cost (US$/t) + Transport Cost (US$/t) + G&A Cost (US$/t) + [Royalty Cost (%) x Income]
8. In-situ bulk density were assigned to each model domain, according to samples averages for each lithology domain, separated by alteration zones and subset by oxidation.
9. All tonnages reported are dry metric tonnes and ounces of contained gold are troy ounces.
10. Mining recovery and dilution factors have not been applied to the Mineral Resource estimates.
11. The Mineral Resource was estimated by Mr. Peralta, B.Sc., FAusIMM CP (Geo), Independent Qualified Person under NI 43-101.
12. Mr. Peralta is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues that could materially affect the potential development of the Mineral Resource.
13. All figures are rounded to reflect the relative accuracy of the estimates. Minor discrepancies may occur due to rounding to appropriate significant figures.

QA/QC and Core Sampling Protocols

AbraSilver applies industry standard exploration methodologies and techniques, and all drill core samples are collected under the supervision of the Company’s geologists in accordance with industry best practices. Drill core is transported from the drill platform to the logging facility where drill data is compared and verified with the core in the trays. Thereafter, it is logged, photographed, and split by diamond saw prior to being sampled. Samples are then bagged, and quality control materials are inserted at regular intervals at site; these include blanks and certified reference materials as well as duplicate core samples which are collected in order to assess sampling precision and reproducibility. Groups of samples are then placed in large bags which are sealed with numbered tags in order to maintain a chain-of-custody during the transport of the samples from the project site to the laboratory.

All samples are received by the ASA (Alex Stewart Argentina) preparation laboratory in Salta, where they are prepared, then the pulp sachet is directly dispatched to its facility in Mendoza, Argentina, where they are analyzed. All samples are analyzed using a multi-element technique consisting of a four-acid digestion followed by ICP/AES detection, and gold is analyzed by 50g Fire Assay with an AAS finish. Silver results greater than 100g/t are re-analyzed using four acid digestion with an ore grade AAS finish.

Qualified Persons

David O’Connor P.Geo., Chief Geologist for AbraSilver, is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and he has reviewed and approved the scientific and technical information in this news release.

About AbraSilver

AbraSilver is an advanced-stage exploration company focused on rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina.  The current Measured and Indicated Mineral Resource estimate for Diablillos (tank leach-only) consists of 73.1 Mt grading 79 g/t Ag and 0.66 g/t Au, containing approximately 186Moz of silver and 1.6Moz of gold, with significant further upside potential based on recent exploration drilling. The Company is led by an experienced management team and has long-term supportive shareholders. In addition, the Company has an earn-in option and joint venture agreement with Teck on the La Coipita project, located in the San Juan province of Argentina.  AbraSilver is listed on the Toronto Stock Exchange under the symbol “ABRA” and in the U.S. on the OTCQX under the symbol “ABBRF.”

For further information please visit the AbraSilver Resource website at www.abrasilver.com, our LinkedIn page at AbraSilver Resource Corp., and follow us on X at www.x.com/abrasilver

Alternatively, please contact:

John Miniotis, President and CEO
[email protected]
Tel: +1 416-306-8334

Cautionary Statements

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in the Company’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR+ at www.sedarplus.ca.  The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information. The Company 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.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release