Toronto, Ontario--(Newsfile Corp. - August 27, 2026) - AbraSilver Resource Corp. (TSX: ABRA) (OTCQX: ABBRF) ("AbraSilver" or the "Company") is pleased to announce that it has issued a Limited Notice to Proceed ("LNTP") to Worley to commence the bridging engineering phase for the Company's 100%-owned Diablillos silver-gold project ("Diablillos" or the "Project"), located in the Puna region across the provinces of Salta and Catamarca, Argentina.

The award follows completion of the Definitive Feasibility Study ("DFS") for Diablillos, which was also delivered by Worley, and initiates the workstreams required to support a final investment decision ("FID") targeted for the second quarter of 2027.

Under the bridging phase, Worley will build on the detailed engineering, technical, environmental and economic outcomes completed through the DFS, awarded in 2025.

Working closely with AbraSilver's Chief Operating Officer Jeremy Weyland, newly appointed Project Director John Naisbitt, and the AbraSilver team in Argentina, Worley teams in Argentina and Canada, together with its Global Integrated Delivery centre in Colombia, will help further define and de-risk the Project, providing engineering design, technical studies, procurement services, cost estimates, scheduling, permitting support and other elements required to develop an execution plan.

The scope also includes planning for a site camp to accommodate the construction and operations workforce. The team will assess modular construction options while accounting for the Project's high-altitude location, remoteness and limited infrastructure.

Jeremy Weyland, Chief Operating Officer of AbraSilver, commented, "Awarding this next phase of work to Worley following the DFS keeps Diablillos moving without interruption along the path to construction. Worley knows this project well, and their global mining expertise and proven project delivery track record make them the right partner to advance the engineering, procurement and permitting workstreams that underpin our targeted final investment decision in the second quarter of 2027."

"We're pleased to build on our partnership with AbraSilver and support the Project as it moves into this next phase," said Andrea Casciano, Senior Vice President for LATAM at Worley. "This is an important transition period for Diablillos. By combining the capabilities of our multi-center team with our mining expertise and project delivery experience, we will progress the execution elements needed to support the project toward a final investment decision."

About AbraSilver
AbraSilver is a leading silver-gold development company focused on advancing its 100%-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 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 the La Coipita project, located in the San Juan province of Argentina. AbraSilver is listed on the TSX under the symbol "ABRA" and in the U.S. on the OTCQX under the symbol "ABBRF."

For further information please visit the AbraSilver website at www.abrasilver.com, our LinkedIn page at AbraSilver Resource Corp., and follow us on X at www.x.com/abrasilver

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Forward-Looking Statements

This news release contains "forward-looking statements" and/or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expect", "is expected", "in order to", "is focused on" (a future event), "estimates", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", or the negative connotation thereof. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's future operations, future exploration and development activities, the expected benefits of the management and board changes announced herein, the roles and responsibilities of the newly appointed officers and directors, the Company's plans to make additional appointments to its Project Development team at the Diablillos site and at the corporate level, and the Company's plans for advancing the Diablillos project toward a formal construction decision.

The Company considers its assumptions to be reasonable based on information currently available but cautions the reader that these assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company, its properties and business. Such risks and uncertainties include, but are not limited to, the ability of newly appointed officers and directors to execute on the Company's strategic objectives; changes in demand for and price of gold, silver and other commodities; changes or disruptions in the securities markets; legislative, political or economic developments in Argentina; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; and the risks involved in the exploration, development and mining business and the additional risks described in the Company's most recently filed Annual Information Form, annual and interim management's discussion and analysis and other disclosure documents which are available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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