AbraSilver Resource Corp. announced assay results for the final set of drill holes completed as part of the Company's highly successful Phase III drill program, on its wholly-owned Diablillos property in Salta Province, Argentina. The reported holes were designed to delineate the margins of the JAC zone, ahead of the upcoming Mineral Resource estimate and a Pre-Feasibility Study on the Diablillos project.

Key takeaways include Holes DDH 23-066 to DDH 23-070 were drilled to determine the northwestern edge of the JAC zone. All holes encountered silver mineralization, with a broad intercept of 64 m grading 148 g/t Ag in hole DDH 23-070 from a downhole depth of only 41 m. Holes DDH 23-071 to DDH 23-075 were drilled to test the northeastern edge of the JAC zone. The holes encountered several narrower zones of silver mineralization, with hole DDH 23-075 intersecting 15.0 m at 93 g/t Ag and 0.78 g/t Au.

o Results from DDH 23-075 are highly encouraging as they demonstrate the continuity of mineralization between the JAC zone and the main Oculto deposit, and the possibility of a combined open pit. Hole DDH 23-065 was drilled beyond the northwestern edge of the JAC zone, into the recently discovered JAC North zone. The hole successfully encountered a near-surface intercept of 7 m grading 119 g/t Ag and 0.14 g/t Au, starting at a downhole depth of only 85 m. o This encouraging result further confirms the presence of a new significant mineralized structure beyond the main JAC zone.

o As announced on August 9, 2023, the newly discovered JAC North zone is located over 900 m beyond the limit of the conceptual open pit that defines the current Mineral Resource estimate at Oculto and approximately 100 m northwest of the high-grade JAC zone. While hole DDH 23-075 represented the final drill hole at the main JAC zone as part of the Phase III drill campaign, the Company completed drilling of six additional holes at nearby exploration targets (namely JAC North, Alpaca and Fantasma). o These results are expected to be received within the next few weeks and will help determine the highest-priority targets for the next phase of exploration.

The Phase III drill program has now been successfully completed. The Company is preparing an updated MRE which remains on schedule to be completed within the next few weeks, to be followed by a PFS on the Diablillos project. The Phase III drill program successfully achieved all of its key objectives, namely: · Systematically grid drilling the silver-dominant mineralisation at the JAC zone in order to estimate Measured and Indicated Mineral Resources which can be incorporated into the planned overall Diablillos MRE update and PFS.

Delineate the margins of the JAC zone and conduct geotechnical drilling necessary for a conceptual open pit design. Conduct reconnaissance drilling at other targets on the Diablillos land package, including the Fantasma, Alpaca and JAC North zones. All Phase III drill holes from the JAC zone will be incorporated into an updated MRE and will be included in a PFS on the full Diablillos project.

next phase of drilling (Phase IV) will explore additional targets which will all be prioritized based on distance from the probable porphyry progenitor beneath Oculto and favourability of structural trends reflected in magnetic surveys, with special reference to any historical drill data. Current priority targets in the area west of Oculto include JAC North, Alpaca and Fantasma, with additional targets also being developed to the east and north of Oculto.