Drilling Confirms Continuity of Large-Scale Mineralized System & Delivers New Discovery

AbraSilver Resource Corp. (TSX: ABRA) (OTCQX: ABBRF) is pleased to report assay results from the 2026 drill program at the La Coipita copper-gold-molybdenum project  located in the San Juan Province of Argentina.

The drill program is fully funded and operated by a subsidiary of Teck Resources Limited under the terms of the earn-in and joint venture agreement, as per the Company’s news release dated January 22, 2024.

The 2026 program comprised 5,248 metres of diamond drilling across seven holes (DDH-LC26-010 through DDH-LC26-016), designed to test the limits and vertical continuity of known mineralization at the Yaretas target and evaluate new targets generated by the first-ever magnetotelluric geophysical survey completed across the property.

Key Highlights

• Hole DDH-LC26-010 returned the strongest drill intercept recorded to date at La Coipita: 747.5 m grading 0.69% Cu, 0.06 g/t Au and 142 ppm Mo, from 396 m to 1,143.5 m down-hole depth, confirming the presence of a robust and vertically extensive copper-gold-molybdenum system. Including:
  • 108 m at 1.06% Cu, 0.10 g/t Au and 204 ppm Mo, from 396 to 504 m;
  • 184 m at 0.78% Cu, 0.09 g/t Au and 123 ppm Mo, from 604 to 788 m
• Hole DDH-LC26-011 returned 250.6 m at 0.39% Cu, 0.07 g/t Au and 119 ppm Mo, from 550 to 800.6 m. This hole confirmed continuity of mineralization between previously reported holes DDHC-22-002 and DDH-LC25-006 (see Figures 1 and 2), further strengthening confidence in the scale and continuity of the Yaretas system.
• Hole DDH-LC26-012 resulted in a new, shallower discovery at the Yaretas Sur target, located approximately 1.9 km south of the main Yaretas drilling area (see Figures 1 and 3), intersecting multiple zones of copper-gold mineralization:
  • 42 m at 1.03% Cu, 0.63 g/t Au and 41 g/t Ag, from 264 to 306 m, including 28 m at 1.45% Cu, 0.81 g/t Au and 45 g/t Ag
  • Additional mineralized intervals that confirm a vertically extensive mineralized system at Yaretas Sur.
• The first-ever MT geophysical survey conducted during the 2026 season provides valuable new insights into the geometry of the mineral system and indicates potential extensions to the south, guiding target generation for future drill campaigns.
• Holes DDH-LC26-013 and DDH-LC26-015 intercepted indicative copper mineralization within the Yaretas zone, highlighting variability in the system; holes DDH-LC26-014 and DDH-LC26-016 were unable to reach planned target depths.

John Miniotis, President and CEO, commented, “The 2026 drill program delivered several important milestones at La Coipita. Most notably, hole DDH-LC26-010 returned the strongest intercept drilled on the property to date, while hole DDH-LC26-011 confirmed the continuity of mineralization across the core Yaretas system. Equally encouraging was the new, shallower discovery at Yaretas Sur, located nearly 2 km south of the main drilling area, which further demonstrates the district-scale potential of this project. We are pleased to have Teck, one of the world’s leading mining companies, continuing to advance La Coipita, and we look forward to continued exploration success.”

Stuart McCracken, Vice President, Exploration, Teck commented, “These results reinforce our commitment to responsible and sustainable exploration and our long-term interest in the geological potential of the region.”

Table 1 – Summary of Key Drill Intercepts

Intercepts greater than 25%-metres copper shown in bolded text:

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

La Coipita Project Overview

La Coipita is a district-scale property covering over 70,000 hectares in the western San Juan Province, adjacent to the Chilean border. Elevation across the property ranges between 3,500 and 4,500 MASL with moderate to high relief.

The property lies within the prolific Miocene porphyry-epithermal belt of Argentina and Chile, host to numerous world-class deposits, including Filo del Sol, Los Azules, El Indio, Veladero, Pascua Lama and El Pachon.

Since commencing the earn-in program in 2024, Teck has completed a total of 11,270 m of diamond drilling across 19 holes at La Coipita, representing approximately US$23 million in expenditures to date against the total earn-in commitment of US$20 million. In addition to Teck completing US$20 million in expenditures, certain cash payments defined in the earn-in and joint venture agreement remain to be completed by Teck. On completion of these obligations, it is anticipated the parties will form a Joint Venture (80% Teck, 20% AbraSilver).

The 2026 program successfully extended known mineralization at Yaretas, confirmed continuity between previously drilled areas and identified a new mineralized centre at Yaretas Sur. Together with the results of the MT survey, these findings support the potential for a large-scale mineralized system extending well beyond the currently drilled footprint.

The 2026 program, which included 5,248 metres of drilling and the first MT survey ever completed on the property, represents a significant step forward in defining the scale and geometry of the system as the project advances toward potential future Mineral Resource delineation.

Figure 1 – Plan Map – Drillhole Locations and Cu Results with MT-Resistivity Survey at 500 m Depth.

 Figure 2 – A-A’ Cross Section: Cu-Grade Results and MT-Resistivity

 Figure 3 – B-B’ Cross Section: Yaretas (left) and Yaretas Sur (right) Targets, Cu-Grade Results and MT-Resistivity

Collar Data

Note: All results in this news release for La Coipita have been rounded. Assays are uncut and undiluted. Widths are drilled widths, not true widths. True widths cannot be determined due to the uncertain geometry of mineralization.

QA/QC and Core Sampling Protocols

Core samples were taken every 2m, sent to San Juan for cutting (where applicable), and submitted to ALS Labs for sample preparation and for four-acid digestion multi-element analysis with ICP-MS finish (method codes ME-MS61) and with AAS finish for overlimit of Cu, Pb, Ag, As, Zn, Mo (OG62), and for Au by fire assay with ICP-MS finish (Au-ICP21) and with gravimetry finish for overlimit (Au-GRA21). Steps taken to avoid copper loss from drill core of the supergene enrichment zone included: (1) drilling with triple tube core barrels; (2) sampling whole core in zones of supergene mineralization (retaining 15-20cm of representative skeleton core); (3) avoiding interaction with water or core saws; and (4) taking field duplicates with a hydraulic core splitter.

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 Measured and Indicated Mineral Resource estimate for Diablillos (tank leach-only) consists of 102.0 Mt grading 65 g/t Ag and 0.62 g/t Au, containing approximately 213Moz of silver and 2.0Moz 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.

The full Technical Report in respect of the updated MRE estimate is being prepared in accordance with NI 43-101 and will be available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile within 45 days from the news release dated May 06, 2026.