Mr. John Miniotis reports

ABRASILVER RECEIVES FINAL ENVIRONMENTAL APPROVAL FROM CATAMARCA AUTHORITIES FOR DIABLILLOS

Abrasilver Resource Corp. has received approval of the environmental impact assessment (declaracion de impacto ambiental or DIA) from the government of Catamarca province for its wholly owned Diablillos silver-gold project in Argentina.

The Catamarca DIA represents the final major environmental permit required for the development and construction of the Diablillos project and marks a significant milestone in advancing one of the world's premier undeveloped silver-gold projects toward a construction decision. The approval follows the company's recent receipt of the DIA from Salta province, announced on April 27, 2026, and confirms that all principal provincial environmental approvals required for the project have now been secured.

John Miniotis, president and chief executive officer, commented: "Receiving the Catamarca DIA represents the final major permitting milestone for Diablillos and is another significant step towards a construction decision. With environmental approvals now secured from both Salta and Catamarca provinces and our definitive feasibility study completed, Diablillos now stands out as the largest fully permitted construction-ready silver-gold project globally. We would like to thank the provincial authorities, local communities and all stakeholders for their support throughout this process. We are now focused on advancing project financing and moving Diablillos toward construction."

The Catamarca approval follows a comprehensive review process that included detailed environmental studies, technical evaluations, public consultation activities, community engagement initiatives, and site visits by provincial authorities and key stakeholders.

Salta-Catamarca co-operation agreement finalized

In a separate and important development for the project, the legislatures of both Salta and Catamarca provinces have approved the interprovincial co-operation agreement relating to the development of Diablillos. The agreement, together with its related protocols, establishes a formal framework for collaboration between the two provinces and provides additional regulatory and institutional certainty including through co-ordination on jurisdictional, administrative, royalty and tax matters. This framework is particularly relevant given the location of the Diablillos project in an area historically affected by the boundary dispute between Salta and Catamarca.

The approval of this agreement further demonstrates the strong support for Diablillos at both the provincial and regional levels as the project advances toward development.

Next steps -- advancing toward development

With all major environmental permit approvals now secured, the company is focused on advancing the following key development milestones:

• Advancement of project financing initiatives, including engagement with potential debt, equity, stream and strategic partners;
• Progression of critical path detailed engineering activities and procurement packages for long-lead items;
• EPCM (engineering, procurement and construction management) contract negotiation and buildout of the owners team for project execution;
• Commencement of early works and site preparation activities to commence in Q3 (third quarter) 2026;
• Detailed evaluation of phase 2 expansion opportunities, including both tank leach and heap leach expansion scenarios.

QA/QC (quality assurance/quality control) 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 are 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 multielement technique consisting of a four-acid digestion followed by ICP/AES (inductively coupled plasma atomic emission spectroscopy) detection, and gold is analyzed by 50-gram fire assay with an AAS (atomic absorption spectroscopy) finish. Silver results greater than 100 grams per tonne (g/t) are reanalyzed using four-acid digestion with an ore-grade AAS finish.

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 kilometres (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-metre-to-1.5-kilometre distance surrounding the Oculto/JAC epicentre. To date, over 170,000 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 centred approximately four 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 1.

Qualified persons

David O'Connor, PGeo, 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 Resource Corp.

Abrasilver is a leading silver-gold development company focused on advancing its 100-per-cent-owned Diablillos project in the mining-friendly provinces of Salta and Catamarca, Argentina. The recently completed definitive feasibility study highlights Diablillos as a robust, high-margin, long-life precious metals project with a strong production profile and substantial exploration upside. 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 Toronto Stock Exchange under the symbol ABRA and in the United States on the OTCQX under the symbol ABBRF.

We seek Safe Harbor.