Toronto, Ontario--(Newsfile Corp. - January 27, 2026) - AbraSilver Resource Corp. (TSX: ABRA) (OTCQX: ABBRF) ("AbraSilver" or the "Company") is pleased to announce the final assay results from drill holes completed as part of the Phase V diamond drilling program at its wholly-owned Diablillos project in Argentina (the "Project").

The results represent the final assay data from the Phase V drill program, which will be incorporated into the upcoming Mineral Resource estimate ("MRE"), underpinning the Company's Definitive Feasibility Study ("DFS"), which continues to remain on track for completion in Q2/2026.

Highlight Drill Results - Widths are reported as drilled; true widths are not yet known.

• JAC: Strong near-surface silver mineralization continues to expand the Mineral Resource growth potential, including:

  • DDH 25-096: 57.0 metres ("m") of 51 g/t silver from 109 m downhole

  • DDH 25-099: 13.0 m of 477 g/t silver from 151 m downhole

  • DDH 25-104: 17.0 m of 432 g/t silver & 1.10 g/t gold from 131 m downhole, including 6.0 m at 1,093 g/t silver & 2.42 g/t gold

• Cerro Viejo: Hole DDH 25-084, followed by its extension DDH 25-084A, tested porphyry-style mineralization at depth and encountered broad low-grade gold, copper and silver mineralization.

John Miniotis, President and CEO, commented, "The final Phase V drill results, particularly the high-grade silver-gold intercept in holes DDH 25-099 and DDH 25-104, further demonstrate the potential for incremental Mineral Resource growth at JAC and along the corridor between JAC and Oculto. These results will be incorporated into the upcoming MRE and represent an important step as we advance Diablillos toward finalizing the DFS."

Dave O'Connor, Chief Geologist, commented, "The results from Phase V drilling provide important geological context for Phase VI, confirming the continuity of silver-gold mineralization beyond the current Mineral Resource envelope at JAC. The potential to expand both gold and silver Mineral Resources beyond the current estimate highlights the scale of Diablillos and underpins our ongoing exploration and development strategy."

Details on Drill Results - JAC

At JAC, the latest drill results continue to demonstrate broad, continuous zones of near-surface oxide silver mineralization extending beyond the limits of the current open pit constrained Mineral Resource. Drilling was primarily designed to test the margins of known mineralization and the corridor between the JAC and Oculto deposits, with results confirming that meaningful silver-gold mineralization persists outside the higher-grade core of the deposit.

Hole DDH 25-104, drilled between JAC and Oculto, intersected 17.0 metres grading 432.1 g/t silver and 1.10 g/t gold, including a high-grade interval of 6.0 metres grading 1,093.0 g/t silver and 2.42 g/t gold. This intercept highlights the continuity of high-grade mineralization along this structural corridor and supports the potential for additional Mineral Resource growth in this area.

Additional drilling at JAC also intersected multiple zones of oxide silver mineralization, including 13.0 metres at 476.6 g/t silver in DDH 25-099 and 57.0 metres at 51.4 g/t silver in DDH 25-096, further confirming the lateral extent of mineralization beyond the currently defined Mineral Resource boundaries. While grades generally decrease away from the higher-grade core, these results demonstrate that broad mineralized envelopes remain open and will be incorporated into the upcoming MRE.

Table 1 - Summary of Key Drill Intercepts - JAC

Intercepts greater than 25 gram-metres gold or 2,000 gram-metres silver shown in bolded text:

Figure 1 - Plan View of Drill Results

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Figure 2 - Section Through Latest Drill Holes at JAC

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Details on Drill Results - Cerro Viejo

Results have also been received from deep drilling in hole DDH 25-084/25-084A targeting porphyry style mineralization at Cerro Viejo. All mineralization is hosted in sulphides.

DDH 25-084 analyses started at 105 m depth before the hole was terminated at 650 m due to technical issues. The follow-up hole, DDH 25-084A, was drilled from the same platform and extended the total depth to 1,147.5 m. Drilling intersected pervasive chlorite alteration with localized sericite overprinting, quartz-pyrite stockwork veining, and B-type quartz-pyrite-molybdenite veinlets. Chalcopyrite and other copper-bearing veinlets occur intermittently, with copper values gradually increasing with depth. These results confirm the presence of a large, mineralized porphyry system at Cerro Viejo.

Table 2 - Summary of Key Drill Intercepts - Cerro Viejo

Note: All results in this news release are rounded. Assays are uncut & undiluted. Widths are drilled widths, not true widths. True widths are unknown.

Update on EIA and RIGI

The processes necessary for the Diablillos project Environmental Impact Assessment ("EIA") approvals in both Salta and Catamarca provinces continue to make excellent progress. The final community consultations in Salta and Catamarca are expected to be completed in February and formal EIA approval is anticipated shortly thereafter.

The Company's application under Argentina's Large Investment Incentive Regime ("RIGI") framework remains on track, with approval continuing to be targeted before the end of Q1/2026.

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 3:

Table 3 - 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

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