AbraSilver Extends Gold Mineralization at Oculto East with Broad Step-Out Intercept

Latest Hole Returns 42 m at 0.68 g/t Gold Including 7 m at 1.67 g/t Gold

Toronto – TheNewswire – July 15, 2025 – AbraSilver Resource Corp. (TSX: ABRA; OTCQX: ABBRF) (“AbraSilver” or the “Company”) is pleased to announce new drill results from its ongoing Phase V exploration program at its wholly-owned Diablillos project in Argentina (the “Project”).  

Step-out hole DDH 25-062, intersected a continuous 42.0 metre (“m”) interval grading 0.68 g/t gold and 15 g/t silver from 248 m down-hole, including a higher-grade core of 7.0 m at 1.67 g/t gold and 17 g/t silver.  This hole was drilled at Oculto East, beyond the eastern edge of the current conceptual open pit, confirming the extension of mineralization into a previously underexplored area.

This interval is located along the same mineralized trend and approximately 60 m from the high-grade gold intercept, previously announced in hole DDH-25-024 (see Figure 3). These results underscore the potential for significant Mineral Resource expansion at Oculto East.  Follow-up drilling is underway, with three drill rigs now focused on delineating the size and continuity of this promising zone.    

Table 1 – Summary of Key Drill Intercepts:  Oculto East & Cerro Viejo

Drill Hole	Area		From (m)	To (m)	Type	Interval (m)	Ag g/t	Au g/t	Cu %
DDH-25-045		Cerro Viejo	11.0	14.0	Sulphides	3.0	–	1.00	–
			23.0	33.0	Sulphides	10.0	–	0.27	0.80
			53.0	57.0	Sulphides	4.0	–	0.67	–
DDH-25-062		Oculto East	108.0	117.0	Oxides	9.0	30.4	0.14
			129.0	136.0	Oxides	7.0	36.5	0.03
			147.0	149.0	Oxides	2.0	28.6	0.10
			248.0	290.0	Oxides	42.0	14.8	0.68	–
		Including	266.0	273.0	Oxides	7.0	16.7	1.67
			303.0	309.0	Oxides	6.0	21.2	0.63	–
			320.0	326.0	Oxides	6.0	6.7	0.44	–
			334.0	341.0	Oxides	7.0	9.8	0.49	–
			375.0	381.0	Sulphides	6.0	17.7	0.12	0.17

       Note: All results in this news release are rounded. Assays are uncut and undiluted. Widths are drilled widths, not true widths.  True widths are unknown.

John Miniotis, President and CEO, commented, “These results continue to confirm that Diablillos still has significant room for further growth, as we continue to determine the strike direction of the high-grade gold zone at Oculto East.  With three rigs actively drilling this target area, we anticipate steady exploration news flow in the coming weeks and months ahead.”

Dave O’Connor, Chief Geologist, commented, “Hole 25-062 confirms that a broad mineralized zone extends well beyond the current conceptual open pit limits of the Oculto deposit.  Our team is now focused on systematically targeting the most prospective areas of the eastern extension to define the full scale of the high-grade mineralized system.”    

   

Figure 1 –Plan View of Drill Results  

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Oculto East Target

The Oculto East target, located immediately beyond the eastern edge of the current conceptual open pit, remains a highly promising zone for high-grade mineralization.   Step-out hole DDH 25-062 intersected a broad oxidized zone totaling 233 m (between 108 – 341 m down-hole depth), with several intervals of gold and silver mineralization.  These results demonstrate strong continuity along the same horizon as our most recent high-grade gold intercept in hole DDH 25-024 (see Figure 3).    Moreover, the results confirm that the mineralization remains open to the east, and suggest that Oculto East may represent continuation of the main Oculto mineralisation.  With three drill rigs now active in the area, ongoing drilling is focused on defining the geometry and scale of this high-priority target.

       

Figure 2 – Section Through Hole DDH 25-062 Looking Northeast

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Note: Widths are drilled widths, not true widths.  True widths are unknown.

 

Figure 3 – Section Through Hole DDH 25-062 and DDH 25-024 Looking Northeast

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Note:  Results from hole DDH 25-024 were previously announced by the Company on May 20, 2025, and is shown here for reference purposes.  

 

Cerro Viejo Target

Drill hole DDH 25-045 in the Cerro Viejo area intersected shallow sulphide gold and copper results, with mineralization interpreted as being in the root zone of an epithermal system above a porphyry. Intercepts include 3 m at 1.00 g/t Au (from 11m), 10 m at 0.27 g/t Au and 0.80% Cu (from 23m), and 4 m at 0.67 g/t Au (from 53m).  The shallow copper mineralization is related to chalcocite secondary enrichment.   Drill results from two additional holes in this area are currently pending and will help further evaluate the extent and orientation of this near-surface mineralized system.  

JAC Target

At the JAC zone, a number of step-out holes to the southwest were recently drilled to test the limits of the mineralized envelope.  Key highlights from these holes include intercepts of:

• 36.0 m at 50 g/t Ag from 114 m down hole (hole DDH 25-027) 

• 17.3 m at 104 g/t Agfrom 136 m down hole (hole DDH 25-039) 

• 30.0 m at 52 g/t Agfrom 121 m down hole (DDH 25-049) 

These results confirmed the expected boundaries of the known mineralized system and reinforce the consistency of silver mineralization at JAC.   Exploration efforts are now being prioritized at Oculto East and across the broader Northeast corridor.  

Table 2 – Summary of Key Drill Intercepts:  JAC

Drill Hole	Area		From (m)	To (m)	Type	Interval (m)	Ag g/t	Au g/t
DDH-25-027		JAC	114.0	151.0	Oxides	36.0	50.4	0.01
DDH-25-028		JAC	132.0	135.0	Oxides	3.0	61.7	0.01
DDH-25-037		JAC	72.0	79.0	Oxides	7.0	62.2	0.01
			89.0	95.0	Oxides	6.0	43.8	0.01
DDH-25-039		JAC	136.0	153.3	Oxides	17.3	103.6	0.01
DDH-25-049		JAC	121.0	151.0	Oxides	30.0	51.7	0.01

       Note: All results in this news release are rounded. Assays are uncut and undiluted. Widths are drilled widths, not true widths.  True widths are unknown.

Figure 4 – Section Through Reported Holes at JAC

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Updated Mineral Resource Estimate and Definitive Feasibility Study

Work on the updated Mineral Resource estimate and Definitive Feasibility Study (“DFS”) continue to progress on schedule. The Mineral Resource update is now in the final stages, with results expected to be announced in the coming weeks.  

All geotechnical and condemnation drill holes have been completed, and the final set of metallurgical samples have been sent to laboratories for final confirmation testwork. Engineering work for the process plant and tailings storage facility is well underway, and a 30% design review workshop is scheduled for later this month.  The DFS remains on schedule for completion in Q1 2026.

Collar Data

Hole Number	UTM Coordinates		Elevation	Azimuth	Dip	Depth (m)	Area
DDH 25-027	719131	7198463	4,124	315	-60	155	JAC
DDH 25-028	719100	7198448	4,127	315	-60	152	JAC
DDH 25-037	719088	7198546	4,126	315	-60	137	JAC
DDH 25-039	719282	7198634	4,135	315	-60	166	JAC
DDH 25-045	723645	7202730	4,068	180	-70	256	Cerro Viejo
DDH 25-049	719314	7198747	4,140	0	-60	161	JAC
DDH 25-062	720781	7199639	4,342	180	-60	386	Oculto NE

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 km southwest of the city of Salta and 375 km northwest of the city of Catamarca. The property comprises 15 contiguous and overlapping mineral concessions acquired by AbraSilver in 2016.  The project site has good year-round accessibility through a 150 km paved road, followed by a well-maintained gravel road, shared with other adjacent projects.

There are several known mineral zones on the Diablillos property. Approximately 150,000 m have been drilled to date, which has outlined multiple occurrences of epithermal silver-gold mineralization at Oculto, JAC, Laderas and Fantasma. Several satellite zones of silver/gold-rich epithermal mineralization have been located within a 500 m to 1.5 km distance surrounding the Oculto/JAC epicentre.  In addition, a large porphyry complex is centered approximately 4 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). The most recent Mineral Reserve estimate for Diablillos is shown in Table 3:

Table 3 – Diablillos Mineral Reserve Estimate – As of March 07, 2024

 

Category	Tonnage (000 t)	Ag (g/t)	Au (g/t)	Contained Ag (000 oz Ag)	Contained Au (000 oz Au)
Proven	12,364	118	0.86	46,796	341
Probable	29,930	80	0.80	76,684	766
Proven & Probable	42,294	91	0.81	123,480	1,107

Notes for Mineral Reserve Estimate:

1.  Mineral reserves have an effective date of March 7th, 2024.

2.  The Qualified Person for the Mineral Reserve Estimate is Mr. Miguel Fuentealba, P.Eng.

3.  The mineral reserves were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), Definition Standards for Mineral Resources and Reserves, as prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.

4.  The mineral reserves were based on a pit design which in turn aligned with an ultimate pit shell selected from a Whittle TM pit optimization exercise. Key inputs for that process are:

• Metal prices of USD $1,750/oz Au; USD $22.50/oz Ag

• Variable Mining cost by bench and material type. Average costs are USD $1.94/t for all lithologies except for “cover”, Cover mining cost of USD 1.73/t, respectively.

• Processing costs for all zone, USD $22.97/t. • Infrastructure and G&A cost of USD 3.32/t. • Pit average slope angles varying from 37° to 60° depending on the geotechnical domain. • The average recovery is estimated to be 82.8% for silver and 86.6% for gold.

5.  The Mineral Reserve Estimate has been categorized in accordance with the CIM Definition Standards (CIM, 2014).

6.  A Net Value per block (“NVB”) cut-off was used to constrain the Mineral Reserve with the reserve pit 2shell. The NVB was based on “Benefits = Revenue-Cost” being positive, where, Revenue = [(Au Selling Price (USD/oz) – Au Selling Cost (USD/oz)) x (Au grade (g/t)/31.1035)) x Au Recovery (%)] + [(Ag Selling Price (USD/oz) – Ag Selling Cost (USD/oz)) x (Ag grade (g/t)/31.1035)) x Ag Recovery (%)] and Cost = Process Cost (USD/t) + Transport Cost (USD/t) + G&A Cost (USD/t) + [Royalty Cost (%) x Revenue]. The NVB method resulted in an average equivalent cut-off grade of approximately 46g/t AgEq.  

7.  In-situ bulk density was read from the block model, assigned previously to each model domain during the process of mineral resource estimation, according to samples averages of each lithology domain, separated by alteration zones and subset by oxidation.

8.  All tonnages reported are dry metric tonnes and ounces of contained gold and silver are troy ounces.

9.  All figures are rounded to reflect the relative accuracy of the estimates. Minor discrepancies may occur due to rounding to appropriate significant figures.

QA/QC 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 practices. Drill core is transported from the drill platform to the logging facility where drill data is 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; these include blanks and certified reference materials as well as duplicate core samples. 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 sent to the Alex Stewart sample preparation facility in Jujuy, then the sample pulps are sent to the Alex Stewart laboratory in Mendoza where they are analyzed. All samples are analyzed using a multi-element technique consisting of a four-acid digestion followed by ICP/AES detection, and gold is analyzed by 50g Fire Assay with an AAS finish. Silver results greater than 100g/t are reanalyzed using four acid digestion with an ore grade AAS finish.

Qualified Persons

David O’Connor P.Geo., 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

AbraSilver is an advanced-stage exploration company focused on rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta and Catamarca provinces of Argentina.  The current Proven and Probable Mineral Reserve estimate for Diablillos, from a recently completed Pre-Feasibility Study, consists of 42.3 Mt grading 91 g/t Ag and 0.81 g/t Au, containing approximately 124 Moz silver and 1.1 Moz gold, with significant further exploration upside potential. 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.”

 

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

   

Alternatively, please contact:

 

John Miniotis, President and CEO

[email protected]

Tel: +1 416-306-8334

Cautionary Statements

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in the Company’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR+ at www.sedarplus.ca.  The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information. 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 law.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this news release

 

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