Mr. John Miniotis reports

ABRASILVER ANNOUNCES COMMENCEMENT OF DRILLING AT LA COIPITA PROJECT

Drilling at Abrasilver Resource Corp.'s La Coipita copper-gold porphyry project in San Juan, Argentina, has begun.

The initial drill program is expected to consist of two drill rigs, drilling a planned total of 2,600 metres over four holes, focusing on the La Coipita target.

The drill program is fully financed by a subsidiary of Teck Resources Ltd. under the terms of the option and joint venture agreement, as per the company's news release dated Jan. 22, 2024.

John Miniotis, president and chief executive officer, commented: "We are excited to see the initiation of Teck's maiden drill program at La Coipita, which aims to unlock the potential of this promising copper porphyry project. Our large land package hosts multiple high-priority exploration targets, and we are optimistic about the positive outcomes that may result from this exploration phase."

La Coipita project overview

The La Coipita project is located in San Juan province, in a geological setting similar to world-class deposits in the same belt, including the Filo del Sol and Los Azules projects, where porphyry-style mineralization is found immediately beneath epithermal mineralization.

The initial drill program will test zones of high chargeability and conductivity below sericitic alteration at surface, in the lower-elevation area east of previous drilling.

The technical information in this news release has been approved by David O'Connor, PGeo, chief geologist for Abrasilver, a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Abrasilver Resource Corp.

Abrasilver is an advanced-stage exploration company focused on rapidly advancing its 100-per-cent-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina. The current measured and indicated mineral resource estimate for Diablillos consists of 53.3 million tonnes grading 87 grams per tonne silver and 0.79 g/t gold, containing approximately 148 million ounces silver and 1.4 million ounces gold, with significant further exploration upside potential. In addition, the company has entered into an earn-in option and joint venture agreement with Teck on the La Coipita project, whereby Teck can finance up to $20-million (U.S.) in exploration expenditures and make certain other payments to earn up to an 80-per-cent interest.

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