Mr. John Miniotis reports

ABRASILVER COMPLETES CONDORYACU ACQUISITION; INTERSECTS 72 METRES GRADING 18.7 G/T GOLD, 117 G/T SILVER AND 2.06% COPPER FROM SURFACE

Abrasilver Resource Corp. has completed the acquisition of the Condoryacu and Maria Amalia properties, located immediately adjacent to its flagship Diablillos project in Argentina. The acquisitions were completed following final payments of $2.5-million (U.S.) for the Condoryacu property and $250,000 (U.S.) for the Maria Amalia concession, as previously announced on Feb. 17, 2026.

The company has also released initial drilling results from its continuing phase VI exploration program, including results from Condoryacu and Oculto East.

At Condoryacu, initial confirmatory drilling has returned very strong results, including a broad, high-grade intercept of 72 metres grading 18.7 grams per tonne (g/t) gold, 117 g/t silver and 2.06 per cent copper beginning at surface. These results confirm the presence of a high-grade precious and base metal mineralized system that appears to be related to the broader Oculto-JAC hydrothermal system at Diablillos. The 72-metre intercept grading 18.7 g/t gold represents the strongest gold grade-thickness intersection ever reported within the broader Diablillos district.

At Oculto East, the first drill hole of the phase VI campaign (DDH 26-001) intersected a broad, continuous zone of oxide gold and silver mineralization extending beyond the limits of the current conceptual open pit, further demonstrating the scale and continuity of the overall mineralized system. Follow-up drilling is under way as part of an extensive program to expand and define gold-silver mineralization several hundred metres east of the open-pit margin.

Highlights -- widths are reported as drilled and true widths are not yet known:

• Oculto East: The first phase VI drill hole returned a broad, continuous interval of oxide mineralization:
  • DDH 26-001 intercepted 207.5 metres (m) grading 0.48 g/t gold and 11.4 g/t silver.
• Condoryacu: Initial confirmatory drilling from two holes at Condoryacu (DDH 26-002 and DDH 26-003) validated historical drill results that indicated the presence of high-grade mineralization beginning at surface:
  • DDH 26-002 intercepted a broad interval of high-grade sulphide gold-silver-copper mineralization beginning at surface:
    • 72.0 m of 18.74 g/t gold, 117.4 g/t silver and 2.06 per cent copper, starting at surface (zero m downhole).
  • DDH 26-003 intercepted multiple stacked zones of high-grade sulphide mineralization:
    • 5.0 m of 11.86 g/t gold, 109.2 g/t silver and 0.34 per cent copper, from 44 m downhole;
    • 18.0 m of 4.11 g/t gold, 37.2 g/t silver and 0.09 per cent copper, from 59 m downhole;
    • 2.0 m of 1.21 g/t gold, 11.6 g/t silver and 0.05 per cent copper, from 84 m downhole;
    • 12.0 m of 5.24 g/t gold, 56.9 g/t silver and 0.45 per cent copper, from 90 m downhole.

John Miniotis, president and chief executive officer, commented: "The confirmatory drilling results at Condoryacu demonstrate the presence of a high-grade mineralized system beginning at surface and located immediately adjacent to the Diablillos claims. The grades and widths encountered in these initial holes confirm historical drilling and point to the presence of modest zone of high-grade mineralization within the broader Diablillos district, warranting further evaluation."

Condoryacu initial drilling highlights

Condoryacu is located immediately adjacent to the existing Diablillos land package and is considered part of the broader Oculto epithermal system. The area is considered prospective for both gold and silver mineralization and ground water resources.

Mineralization occurs in outcropping siliceous hydrothermal breccias, with sulphide-hosted gold-silver-copper mineralization beginning directly at surface. The style of mineralization shares geological similarities with the deeper parts of the Oculto system but exhibits a stronger sulphide component relative to the predominantly oxide mineralization currently defined at Diablillos.

Limited historical exploration at Condoryacu comprises 35 diamond drill holes totalling approximately 3,100 metres, completed between 2001 and 2003. Drilling was carried out by Cardero Resources Corp. in 2001 and subsequently by Maximus Ventures in 2003. Previous drilling intersected mineralization within hydrothermal siliceous breccias, however, only a portion of the approximately 350-metre known strike length has been systematically tested.

The initial confirmatory holes drilled by AbraSilver demonstrate the presence of high-grade sulphide mineralization within the localized system, and additional drilling is planned to fully evaluate the extent and continuity of the system.

Oculto East -- highlights

DDH-26-001 was drilled at Oculto East and confirms the presence of a laterally extensive oxide mineralized horizon extending beyond the current conceptual open-pit limits. The broad intercept reinforces the consistency of gold-silver mineralization and supports the interpretation of a continuous system that continues to remain open to the east and at depth.

Exploration, permitting and DFS update

The phase VI exploration program is advancing as planned, with a total of 15 drill holes completed so far in 2026, including 11 holes at Oculto East, two holes at JAC and two holes at Condoryacu. Results from this continuing program are expected to support future mineral resource estimate (MRE) updates and further enhance the overall scale of the project, reinforcing its growth potential beyond the DFS.

The company continues to advance the environmental impact assessment (EIA) process. In Salta, the final community engagement meeting is scheduled for April 10, 2026, representing the final key milestone toward approval, which is expected shortly thereafter. In Catamarca, the permitting process is also progressing constructively, with continued engagement with provincial authorities and communities, and approval are anticipated in Q2 (second quarter) 2026.

In parallel, work on the definitive feasibility study (DFS) is advancing on schedule with completion targeted for Q2 2026. The DFS results will incorporate the new MRE from the 2025 phase V drill program, updated mineral reserves based on the latest inputs and a preliminary economic assessment (PEA) of a future heap leach expansion. In parallel, planning is under way for early works activities to expand existing site infrastructure, advance engineering and secure selected long-lead-time items ahead of a final investment decision by Q4 (fourth quarter) of this year.

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 m to 1.5 km distance surrounding the Oculto/JAC epicentre. To date, over 150,000 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). Information regarding mineralization from adjacent or nearby properties, including the deposits listed above, is not necessarily indicative of the mineralization on the company's Diablillos project. The most recent mineral resource estimate for Diablillos is shown in table 3.

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 spectrometry) detection, and gold is analyzed by 50-gram fire assay with an AAS (atomic absorption spectroscopy) finish. Silver results greater than 100 g/t are reanalyzed using four-acid digestion with an ore-grade AAS finish.

Qualified person

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 an advanced-stage exploration company focused on rapidly advancing its 100-per-cent-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina. The current measured and indicated mineral resource estimate for Diablillos (tank leach only) consists of 73.1 million tonnes (t) grading 79 g/t silver (Ag) and 0.66 g/t gold (Au), containing approximately 186 million ounces (oz) of silver and 1.6 million oz of gold, with significant further upside potential based on recent exploration drilling. The company is led by an experienced management team and has long-term supportive shareholders. In addition, the company has 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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