AbraSilver Resource Corp. announcef that the Company has commenced a 20,000-metre (?m?) diamond drilling program on its wholly-owned Diablillos property in Salta Province, Argentina (?Diablillos? or the ?Project?).

This milestone marks the beginning of a fully-funded, extensive exploration campaign aimed at further delineating and expanding the Project's high-grade silver-gold mineralization. The Phase IV drill program will prioritize target areas with known mineralization as well as exploring newly identified prospective exploration targets within the broader Diablillos land package. Drilling activities have now commenced with one drill rig and two additional drill rigs are expected to arrive at the Project within the next few weeks.

The 20,000 m Phase IV drill program will focus on the following exploration targets: Epithermal District: Approximately 75% of the drill program will focus on expanding the existing Mineral Resource estimates near the main Oculto deposit, and on identifying additional near-surface high-grade silver-gold oxide mineralization. Oculto Northeast Zone: Broad spaced drilling within the conceptual Oculto open pit and its northeast extensions in 2023 intersected silver and gold mineralization which was not included in the latest Mineral Resource estimate. This new mineralized zone represents a high-priority target.

Fantasma: Historical drilling at Fantasma outlined a Mineral Resource estimate which is located approximately 1 km west-northwest of the Oculto deposit. Recent intercepts suggest that silver mineralization continues from Oculto towards the Fantasma zone and that these zones may connect. Alpaca: Recent drilling in this area has uncovered a trend of silver mineralization perpendicular to the JAC zone which is believed to connect the Alpaca target to the high-grade JAC zone.

Laderas: Drilling is planned to explore for extensions of the existing gold dominant Mineral Resource historically outlined in this area which is immediately north of the conceptual Oculto open pit boundary. Cerro Bayo: A recent reinterpretation of geology has emphasised the possibility of shallow mineralisation in the Cerro Bayo area, which is located approximately 500 m east of the Oculto open pit boundary. A previous geochemical survey obtained highly anomalous gold results and a historical drill hole intersected shallow gold mineralization.

New Regional Step-out Targets: Approximately 25% of the drill program will be focused on new regional step-out exploration targets that remain largely untested to date. These targets include the substantial alteration zone and associated anomalous gold in historical shallow holes drilled at Cerro Viejo and the newly defined Jasperoid magnetic target. Porphyry Complex (Cerro Blanco /Cerro Viejo): The Cerro Blanco /Cerro Viejo area is located approximately 3.5 km northeast of Oculto.

Following an electromagnetic survey the Company plans to drill select deeper holes to explore for an underlying porphyry system. Gold mineralization in this area is typically associated with pyrite in quartz-sericite alteration, which is interpreted as potentially representing the upper part of a mineralised porphyry system. Jasperoid Target: This is an elongated zone of low magnetic response which was identified in the geophysical survey conducted in late 2023.

The zone follows the trend of a major north-south regional fault and a nearby historical drill hole intersected anomalous gold in vuggy silica. The geology of this zone makes it is a high priority target for epithermal gold-silver mineralisation. 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.

The property comprises 15 contiguous and overlapping mineral concessions acquired by AbraSilver in 2016. The project site has good year-round accessibility through a 150 km paved road, followed by a well-maintained gravel road, shared with other adjacent projects. There are several known mineral zones on the Diablillos property.

Approximately 150,000 m have been drilled to date, which has outlined multiple occurrences of epithermal silver-gold mineralization at Oculto, JAC, Laderas and Fantasma. Additionally, several satellites zones of silver/gold-rich epithermal mineralization have been located within a 500 m to 1.5 km distance surrounding the Oculto/JAC epicentre.