Name of the Project
Diablillos silver/gold project.

Location
Salta province, Argentina.

Project Owner/s
Gold and silver exploration company AbraSilver Resource Corp.

Project Description
The high-sulphidation epithermal silver/gold project covers 7 919 ha. The property hosts several near-surface deposits, including Oculto, JAC, Fantasma and Laderas.

The project has proven and probable mineral reserves of 77.9-million tonnes grading 0.70 g/t gold, 73 g/t silver and 146 g/t silver equivalent containing 183.5-million ounces of silver and 1.76-million ounces of gold.

A definitive feasibility study (DFS), published in June 2026, has positioned the project as a long-life, high-margin silver/gold development.

It proposes a conventional openpit mining operation feeding a 9 000 t/d tank-leach processing plant. The mine plan prioritises higher-grade silver and gold mineralisation during the early years of production, with lower-grade material stockpiled for treatment later in the mine life.

The project has a 25-year mine life and is expected to produce 147.4-million ounces of recovered silver and 1.54-million ounces of recovered gold over that period. Average production is estimated at 20.3-million ounces of silver equivalent a year during the first five years of full production comprising 13.9-million ounces of silver and 89 000 oz of gold.

Life-of-mine average production is estimated at 10.3-million ounces of silver equivalent year comprising 5.9-million ounces of silver and 64 000 oz of gold.

The DFS also identifies potential future upside through a heap-leach expansion, possible plant capacity growth and continued exploration across the broader Diablillos district.

Potential Job Creation
Not disclosed.

Net Present Value/Internal Rate of Return
The DFS estimates an after-tax net present value, at a 5% discount rate, of $3.003-billion, or C$4.204-billion, and an internal rate of return of 41.9% using base-case prices of $50/oz silver and $3 650/oz gold. Payback is estimated at 1.7 years.

At spot prices as at June 15, 2026, the after-tax NPV increases to $4.799-billion, or C$6.719-billion, with an IRR of 56.5% and payback of 1.4 years.

Capital Expenditure
Initial capital expenditure is estimated at $721.5-million, including a $97.9-million contingency.

Planned Start/End Date
Early works are expected to start in the third quarter of 2026. Project financing is targeted for completion by the fourth quarter of 2026, with a final investment decision (FID) expected in the second quarter of 2027. First production is targeted before the end of 2029, subject to a FID.

Latest Developments
AbraSilver has received formal approval for Diablillos under Argentina’s large investment incentive regime, known as RIGI, under a 30-year agreement.

The company is also completing an incremental heap-leach preliminary economic assessment and advancing a Phase VI drilling programme of at least 15 000 m, targeting the Oculto NE and JAC zones, as well as peripheral targets including Cerro Blanco and Cerro Viejo.

Key Contracts, Suppliers and Consultants
Worley, with support from BMining, Envis and INSA (DFS); and BMining, Worley, Envis, Mining Plus and an independent consultant (specialised consultants).

Contact Details
AbraSilver Resource Corp, tel +1 416 306 8334 or email info@abrasilver.com.