Toronto – July 21, 2026: AbraSilver Resource Corp. (TSX: ABRA; OTCQX: ABBRF) ("AbraSilver" or the “Company”) is pleased to announce that it has filed a National Instrument 43-101 – Standards of Disclosure for Mineral Projects compliant Technical Report for its Definitive Feasibility Study (“DFS” or the "Report") on its wholly-owned Diablillos project in Argentina (“Diablillos”).
The Report titled "NI 43-101 Technical Report, Definitive Feasibility Study for the Diablillos Ag-Au Project” is dated July 20, 2026 and has an effective date of June 19, 2026. The Report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website (www.abrasilver.com).
As previously announced on June 22, 2026, the DFS outlines a robust base-case development plan for Diablillos based on a conventional open-pit mining operation and a 9,000 tonne-per-day processing facility. At base case metal prices of $50.00/oz silver and $3,650/oz gold, the DFS delivers an after-tax NPV5% of US$3.0 billion (C$4.2 billion), an after-tax IRR of 41.9% and a 1.7-year payback period. There are no material differences in the Report from the results disclosed in the Company's June 22, 2026 news release.
Heap Leach PEA Update
The Company also provides the following update on the Preliminary Economic Assessment (the "PEA") evaluating a potential supplementary heap leach operation at Diablillos. The PEA is now expected to be completed during the fourth quarter of 2026.
The most recent phase of metallurgical testwork on lower-grade mineralization intended for the proposed heap leach operation delivered results that exceeded management's expectations, demonstrating significantly improved gold recoveries relative to previous assumptions.
In light of these encouraging findings, the Company has elected to complete an updated Mineral Resource Estimate incorporating additional mineralization considered suitable for heap leach processing prior to finalizing the PEA. The PEA will subsequently be completed on the basis of this updated resource, providing a more comprehensive assessment of the long-term value creation opportunity associated with a potential additional heap leach operation at Diablillos.
John Miniotis, President and CEO of AbraSilver, commented, "The better-than-expected metallurgical results from our heap leach testwork program reinforce the significant upside potential that exists beyond the DFS base case. We look forward to publishing a more comprehensive Heap Leach PEA later this year that incorporates an updated Mineral Resource Estimate and more fully reflects the long-term potential of the heap leach opportunity at Diablillos."
Qualified Person
Jeremy Weyland, P.Eng., Senior Vice President, Projects and Development, is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and approved the scientific and technical information contained in this news release.
About AbraSilver
AbraSilver is a leading silver-gold development company focused on advancing its 100%-owned Diablillos Project in the mining-friendly provinces of Salta and Catamarca, Argentina. The recently completed DFS highlights Diablillos as a robust, high-margin, long-life precious metals project with a strong production profile and substantial exploration upside. In addition, the Company has entered into 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 TSX 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.