Mr. John Miniotis reports

ABRASILVER ANNOUNCES CLOSING OF C$50 MILLION "BOUGHT DEAL" PUBLIC OFFERING OF COMMON SHARES

Abrasilver Resource Corp. has closed its previously announced bought deal public offering of 3,401,000 common shares of the company at a price of $14.70 per common share for aggregate gross proceeds of $49,994,700. This total includes the full exercise of the overallotment option.

The offering was completed pursuant to an underwriting agreement dated July 24, 2026, entered into among the company and a syndicate of underwriters, led by National Bank Financial Inc., Beacon Securities Ltd. and Raymond James Ltd., acting as co-bookrunners, and including Scotia Capital Inc. and TD Securities Inc.

Net proceeds from the offering will be used to finance the advancement of the 100-per-cent-owned Diablillos silver-gold project in Argentina, including early works and long lead time equipment procurement, and for general corporate purposes as further described in the prospectus supplement (as defined below).

In addition to and in connection with the offering, the company intends to complete a private placement of up to 139,241 common shares pursuant to the exercise of participation rights held by Kinross Gold Corp., at the issue price, for aggregate gross proceeds of up to approximately $2,046,843. The common shares sold pursuant to the concurrent private placement will be subject to a hold period of four months plus one day from the closing date of the concurrent private placement. The closing of the concurrent private placement is expected to occur on or about July 31, 2026, and is subject to the company and Kinross completing customary documentation and the company receiving all necessary approvals, including the conditional approval from the Toronto Stock Exchange.

The common shares were offered: (i) in all provinces and territories of Canada, except Quebec, pursuant to a prospectus supplement dated July 24, 2026, to the company's short form base shelf prospectus dated Dec. 16, 2025, filed with the securities regulatory authorities in each of the provinces and territories of Canada; (ii) in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended and applicable state securities laws; and (iii) in accordance with applicable securities laws, other jurisdictions that would not require the filing of a prospectus, registration statement, offering memorandum or similar document, and would not result in the company having any reporting or other obligation in such jurisdiction. Copies of the prospectus supplement, the base shelf prospectus and the underwriting agreement are available under the company's profile on SEDAR+

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 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 Toronto Stock Exchange under the symbol ABRA and in the U.S. on the OTCQX under the symbol ABBRF.

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