AbraSilver Further Strengthens Technical Team and Grants Stock Options
Toronto – February 14, 2022: AbraSilver Resource Corp. (TSX.V:ABRA; OTCQX: ABBRF) ("AbraSilver" or the “Company”) is pleased to announce further strengthening of its technical team with the engagement of Wedmar S.A. (“Wedmar”). The principal of Wedmar is Mr. Claudio (“Klaus”) Zalewski who will serve as Senior Vice President, Projects to the Company and be based in Salta, Argentina.
Through Wedmar, Mr. Zalewski will lead the Company’s various upcoming technical studies and engineering development efforts as the Company continues to advance its flagship Diablillos silver-gold project, located in Salta, Argentina, towards permitting and a construction decision.
- Mr. Zalewski is a Professional Civil Engineer with 40 years of experience in the construction and mining industries, focusing on project and operations management, leading PFS and BFS level technical studies, and playing a lead role in the development and construction of various mining projects throughout Argentina and overseas.
- Mr. Zalewski has significant project development experience in Salta province, including most recently acting as the Project Director for the Pastos Grandes Lithium project owned by Millennial Lithium Corp. (recently acquired by Lithium Americas Corp.), Head of Engineering and Construction for the French Eramet group that is advancing the Centenario Lithium Project to construction.
- Mr. Zalewski was also responsible for the construction of the Orocobre/Toyota Tsusho Olaroz Lithium Project in Jujuy province. As well, he was in charge of the first gold mine closure and remediation in Chubut province in southern Argentina, amongst other mine construction tasks, at Mina Don Nicolás and Mina Providencia.
John Miniotis, President and CEO of AbraSilver, commented, “We are very excited to have Klaus join the AbraSilver team. With various trade-off and engineering studies currently planned and underway at our Diablillos project, Klaus’ strong engineering background combined with his significant experience in advancing development projects in the Salta province, will undoubtedly be a significant asset for our Company.”
Mr. Zalewski is a registered Professional Civil Engineer, with 40 years’ experience in senior management, technical and operational roles, in Argentina and overseas. Most recently, Mr. Zalewski assumed, as Project Director, the leadership of the strategical and technical development of the Salta province located Pastos Grandes Lithium Project, advancing it from feasibility study to successful pilot operations, achieving full permitting and readiness to start the industrial facility operation.
Mr Zalewski is fluent in English, Spanish, German and knowledgeable in French. He holds a Civil Engineering degree from the Buenos Aires University and attended post-graduate studies in Project Management for the Construction Industry at Braunschweig University in Germany and Management of Mining at Austral University in Argentina.
Incentive Stock Options and RSUs
The Company announces that pursuant to the Company’s Share Compensation Plan and regulatory approval, an aggregate of 3,700,000 incentive stock options (the “Options”), exercisable at a price of $0.375 per share for a period of five years, has been granted to officers, directors, employees and consultants of the Company. The Options vest in 25% instalments every 6 months, starting from the date of the grant.
In addition, the Company has granted an aggregate of 1,150,000 restricted share units (“RSU”). The RSUs vest in three equal tranches on the 12-month, 24-month and 36-month anniversaries. The RSUs entitle the holder to be issued one common share for each vested RSU.
AbraSilver is a well-funded silver-gold focused advanced-stage exploration company. The Company is rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina, which has a current Measured and Indicated Mineral Resource containing over 90 million ounces of silver and 1.0 million ounces of gold. The Company is led by an experienced management team and has long-term supportive shareholders including Mr. Eric Sprott and SSR Mining. In addition, AbraSilver owns a portfolio of earlier-stage projects including the La Coipita copper-gold project in the San Juan province of Argentina. AbraSilver is listed on the TSX-V under the symbol “ABRA” and in the U.S. 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 Twitter at www.twitter.com/abrasilver
Alternatively please contact:
John Miniotis, President and CEO
Tel: +1 416-306-8334
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. 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.
The Diablillos resource estimate and supporting technical report are N.I. 43-101 compliant. Full details of the Mineral Resources are available in a Company news release dated September 15, 2021. For additional information please see the Technical Report on the Diablillos Project, Salta Province, Argentina, dated October 28, 2021, completed by Mining Plus, and available on www.SEDAR.com.
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 news release