Mr. John Miniotis reports

ABRASILVER ANNOUNCES CLOSING OF BOUGHT DEAL LIFE OFFERING

Abrasilver Resource Corp. has successfully closed its previously announced bought deal private placement, pursuant to the listed issuer financing exemption (LIFE), of 6,513,000 common shares of the company at a price of $7.10 per common share for aggregate gross proceeds of $46,242,300. This total includes the partial exercise of the underwriters' option and included participation from a corporation beneficially owned by Eric Sprott.

Concurrently with the offering, the company issued 270,860 common shares to Kinross Gold Corp., upon the exercise of a participation right held by Kinross, for aggregate gross proceeds of $1,923,106. The common shares sold pursuant to the concurrent private placement are subject to a hold period of four months plus one day from the date of issuance.

John Miniotis, president and chief executive officer, commented: "We're pleased to close this financing at a time of strong progress for Abrasilver, positioning us to accelerate key development activities at Diablillos. With the strongest balance sheet in our history now in place, we are very well positioned for a pivotal year ahead, with a clear focus on rapidly advancing the project and unlocking further value for shareholders."

The net proceeds of the offering will be used to finance early development expenditures, including on-site infrastructure, securing critical long-lead-time items, advanced engineering and exploration programs in support of the advancement of its 100-per-cent-owned Diablillos silver-gold project in the Salta province of Argentina, and for general corporate purposes.

The offering was made pursuant to the listed issuer financing exemption available under National Instrument 45-106, Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, in each of the provinces and territories of Canada other than Quebec. The common shares were also offered for sale in the United States pursuant to available exemptions from the registration requirements under the U.S. Securities Act of 1933. The common shares issued under the offering will not be subject to a statutory hold period pursuant to applicable Canadian securities laws.

Ten thousand five hundred eighty common shares were issued to related parties (within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions) and such issuances are considered related party transactions for the purposes of MI 61-101. Such related party transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities being issued to the related parties nor the consideration being paid by the related parties exceeded 25 per cent of the company's market capitalization. The purchasers of the common shares and the extent of such participation were not finalized until shortly prior to the completion of the offering. Accordingly, it was not possible to publicly disclose details of the nature and extent of related party participation in the transactions contemplated hereby pursuant to a material change report filed at least 21 days prior to the completion of such transactions.

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 (tank leach only) consists of 73.1 million tonnes (t) grading 79 grams per tonne (g/t) silver (Ag) and 0.66 g/t gold (Au), containing approximately 186 million ounces (oz) silver and 1.6 million oz 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.

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