Mr. John Miniotis reports

ABRASILVER ANNOUNCES CLOSING OF $30 MILLION PUBLIC OFFERING OF COMMON SHARES

Abrasilver Resource Corp. has successfully closed its previously announced bought deal public offering of 11,765,650 common shares of the company at a price of $2.55 per common share (the issue price) for aggregate gross proceeds of $30,002,407.50. This total includes the full exercise of the overallotment option.

The offering was completed pursuant to an underwriting agreement dated Feb. 4, 2025, entered into among the company and a syndicate of underwriters, led by National Bank Financial Inc. and Beacon Securities Ltd., acting as co-bookrunners, and including Raymond James Ltd., Scotia Capital Inc. and TD Securities Inc. In connection with the offering, the company paid the underwriters a cash commission equal to 6.0 per cent of the aggregate gross proceeds raised.

Net proceeds from the offering will be used to finance the continued advancement of the 100-per-cent-owned Diablillos silver-gold project in the Salta province of Argentina, as well as for general corporate purposes.

In addition to and concurrent with the offering, the company intends to complete its previously announced private placement of up to 11,193,565 common shares in connection with the exercise of participation rights held by an affiliate of Central Puerto S.A. and Kinross Gold Corp., at the issue price, for aggregate gross proceeds of up to $28,543,590.75. In connection with the concurrent private placement, the company may pay an arm's-length finder a cash commission of up to 3.0 per cent of the proceeds raised from Central Puerto. The common shares sold pursuant to the concurrent private placement will be subject to a hold period of four months plus one day from the closing date of the concurrent private placement. The closing of the concurrent private placement is expected to occur on or about Feb. 11, 2025, and is subject to the company receiving all necessary approvals, including the conditional approval from the TSX Venture Exchange.

The offering was completed in all provinces and territories of Canada, except Quebec and Nunavut, pursuant to a prospectus supplement dated Feb. 4, 2025, to the company's short form base shelf prospectus dated April 14, 2023, filed with the securities regulatory authorities in each of the provinces and territories of Canada, and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and applicable state securities laws and other jurisdictions. Copies of the supplement, the base shelf prospectus and the underwriting agreement are available under the company's profile on SEDAR+.

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 and Catamarca provinces of Argentina. The current proven and probable mineral reserve estimate for Diablillos consists of 42.3 million tonnes grading 91 grams per tonne silver and 0.81 gram per tonne gold, containing approximately 124 million ounces silver and 1.1 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, located in the San Juan province of Argentina. Abrasilver is listed on the TSX-V under the symbol ABRA and in the United States on the OTCQX under the symbol ABBRF.

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