Mr. John Miniotis reports

ABRASILVER FILES DEFINITIVE FEASIBILITY STUDY TECHNICAL REPORT & PROVIDES HEAP LEACH PEA UPDATE

Abrasilver Resource Corp. has filed a National Instrument 43-101-compliant, Standards of Disclosure for Mineral Projects, technical report for its definitive feasibility study (DFS) on its wholly owned Diablillos project in Argentina.

The report, titled "NI 43-101 Technical Report, Definitive Feasibility Study for the Diablillos Ag-Au Project," is dated July 20, 2026, and has an effective date of June 19, 2026. The report can be found under the company's profile on SEDAR+ and on the company's website.

As previously announced on June 22, 2026, the DFS outlines a robust base case development plan for Diablillos based on a conventional open-pit mining operation and a 9,000-tonne-per-day processing facility. At base case metal prices of $50 per ounce (oz) silver and $3,650 per oz gold, the DFS delivers an after-tax net present value (NPV) at 5 per cent of $3.0-billion (U.S.) ($4.2-billion (Canadian)), an after-tax internal rate of return (IRR) of 41.9 per cent and a 1.7-year payback period. There are no material differences in the report from the results disclosed in the company's June 22, 2026, news release.

Heap leach preliminary economic assessment (PEA) update

The company also provides the following update on the PEA, evaluating a potential supplementary heap leach operation at Diablillos. The PEA is now expected to be completed during the fourth quarter of 2026.

The most recent phase of metallurgical testwork on lower-grade mineralization intended for the proposed heap leach operation delivered results that exceeded management's expectations, demonstrating significantly improved gold recoveries relative to previous assumptions.

In light of these encouraging findings, the company has elected to complete an updated mineral resource estimate incorporating additional mineralization considered suitable for heap leach processing prior to finalizing the PEA. The PEA will subsequently be completed on the basis of this updated resource, providing a more comprehensive assessment of the long-term value creation opportunity associated with a potential additional heap leach operation at Diablillos.

John Miniotis, president and chief executive officer of Abrasilver, commented: "The better-than-expected metallurgical results from our heap leach testwork program reinforce the significant upside potential that exists beyond the DFS base case. We look forward to publishing a more comprehensive heap leach PEA later this year that incorporates an updated mineral resource estimate and more fully reflects the long-term potential of the heap leach opportunity at Diablillos."

Qualified person

Jeremy Weyland, PEng, senior vice-president, projects and development, is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical information contained 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 DFS 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.

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