Mr. John Miniotis reports

ABRASILVER ANNOUNCES CLOSING OF CONCURRENT PRIVATE PLACEMENT

Abrasilver Resource Corp. has closed its previously announced private placement of 139,241 common shares of the company at a price of $14.70 per common share for aggregate gross proceeds of approximately $2,046,843. This marks the completion of a total of approximately $52-million in recent financings, including the previously announced $50-million public offering of common shares.

In connection with the offering, the company issued 139,241 common shares to Kinross Gold Corp., upon the exercise of certain participation rights held by Kinross. The common shares sold pursuant to the offering are subject to a hold period of four months plus one day from the closing date of the offering.

The net proceeds from the offering are expected to be used for general corporate purposes.

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 metal project with significant production potential and substantial exploration upside. In addition, the company has entered into an earn-in option and joint venture agreement with Teck on 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.

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