AbraSilver Commences Phase VI Drill Program at Diablillos and Reports Assay Results

13:30 Uhr  |  Newsfile

Phase V Results To Be Incorporated into Updated Mineral Resource Estimate and DFS

Toronto, January 13, 2026 - AbraSilver Resource Corp. (TSX: ABRA) (OTCQX: ABBRF) ("AbraSilver" or the "Company") is pleased to announce the commencement of the Phase VI diamond drilling program at its wholly-owned Diablillos project in Argentina (the "Project"), together with additional assay results from the recently completed Phase V drill program.

Phase VI Drill Program Highlights

• Fully-funded 15,000-metre Phase VI diamond drilling program is designed to expand and upgrade the existing Mineral Resources and evaluate high-priority exploration targets;

• Primary focus on extending gold and silver mineralization beyond current conceptual open pit limits at Oculto East, Oculto Northeast, Cerro Bayo and JAC;

• Targeted drilling also planned to assess sulphide-hosted and porphyry-style mineralization at Oculto Deep and Cerro Viejo;

• Phase VI results are expected to support continued Mineral Resource growth beyond those included in the upcoming Definitive Feasibility Study, which remains on schedule for release in Q2 2026 and will incorporate all data from the recently completed Phase V program.

John Miniotis, President and CEO, commented, "The successful completion of our Phase V drilling marks another important milestone for Diablillos. Phase V drill results will be incorporated into an updated Mineral Resource estimate ("MRE") that will form the basis of the upcoming Definitive Feasibility Study ("DFS"). With Phase VI now underway, our exploration focus remains on unlocking additional upside beyond the DFS."

Dave O'Connor, Chief Geologist, commented, "Phase V delivered impressive intervals of gold mineralization extending beyond the conceptual open pit limits at Oculto East, underscoring the strength, continuity, and scale of the Diablillos mineralizing system. Phase VI has been carefully designed to build on this success - expanding known mineralized zones, upgrading Mineral Resources within and beyond the existing open pit, and testing several high-priority exploration targets across the district."

Phase VI Program Overview:

The Phase VI drill program is expected to comprise approximately 15,000 metres across approximately 50 diamond drill holes. Drilling activities have now commenced with two drill rigs active, and the program expected to be completed before year-end.

Drilling is designed to both expand and upgrade Mineral Resources within and beyond existing conceptual open pit limits, as well as to test high-priority exploration targets across the broader Diablillos district. The highest-priority targets are focused on extending oxide gold and silver mineralization at Oculto East, Oculto Northeast and Cerro Bayo, where recent drilling demonstrated strong continuity and potential to further expand open pit Mineral Resources and improve strip ratios.

Figure 1 - Phase VI Exploration Key Target Areas

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11792/280135_0d827a00240de8a8_001full.jpg

The Phase VI program also includes drilling to evaluate the Condoryacu target, which represents a new exploration area where the Company has recently entered into an option agreement to acquire the property from a third-party vendor. Condoryacu is located approximately 3 km south of the latest conceptual Oculto open pit and has not previously been drill-tested by the Company. Initial drilling will focus on verifying historical exploration data and assessing the continuity, geometry and scale of the mineralization. Successful results from this work could support the exercise of the option and highlight the potential for additional satellite mineralization within the broader Diablillos district.

Phase VI drilling will also focus on JAC, Sombra and Fantasma, where additional drilling is designed to test for extensions of known mineralization and assess continuity between deposits. Collectively, the Phase VI program is expected to support continued Mineral Resource growth and longer-term exploration upside beyond the DFS.

Latest Phase V Drill Results:

As part of the recently completed Phase V drill program, the Company has received additional assay results from drilling at JAC, which will be incorporated into the upcoming MRE. Recent drilling at JAC was primarily aimed at delineating the margins of known mineralization. Results confirm that silver mineralization remains present at the periphery of the deposit, although grades decrease as we drill further away from the higher-grade core. The latest results are summarized in Table 1, below.

Table 1 - Summary of Key Drill Intercepts: JAC

Intercepts greater than 2,000 gram-metres silver 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 2 - Plan View of Drill Results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11792/280135_0d827a00240de8a8_002full.jpg

Collar Data

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). The most recent Mineral Resource estimate for Diablillos is shown in Table 2:

Table 2 - Diablillos Mineral Resource Estimate - As of July 21, 2025

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.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280135