AbraSilver Resource Corp. (TSX-V: ABRA) is pleased to announce the successful closing of its previously announced private placement of 11,193,565 common shares of the Company  at a price of $2.55 per Common Share for aggregate gross proceeds of $28,543,591. This marks the completion of a total of approximately $58.5 million in recent financings, including the previously announced $30 million public offering of Common Shares.

In connection with the Offering, the Company issued 10,094,697 Common Shares to an affiliate of Central Puerto S.A. and 1,098,868 Common Shares to Kinross Gold Corporation, upon the exercise of certain participation rights held by such persons. In connection with the Offering, the Company has also agreed to pay an arm’s length finder a cash commission of up to 3.0% of the proceeds raised from Central Puerto. The Common Shares sold pursuant to the Offering are subject to a hold period of four months plus one day from the closing date of the Offering.

John Miniotis, President and CEO, commented “The completion of our financings significantly strengthen our balance sheet and allow us to accelerate the advancement of our flagship Diablillos silver-gold project. The strong support from key strategic investors, including Central Puerto and Kinross, as well as participation from institutional investors, underscores the high level of confidence in our project’s potential. With $58.5 million now secured, we are extremely well-positioned to accelerate exploration, optimize our development plans, and unlock further value for all our shareholders.”

The net proceeds from the Offering are expected to be used to fund the continued advancement of the 100%-owned Diablillos silver-gold project in the Salta province of Argentina, as well as for general corporate purposes.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

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, 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.