AbraSilver Resource Corp. (TSX-V: ABRA) is pleased to announce the successful closing of its previously announced bought deal public offering of 11,765,650 common shares of the Company at a price of $2.55 per Common Share for aggregate gross proceeds of $30,002,407.50. This total includes the full exercise of the over-allotment option.

The Offering was completed pursuant to an underwriting agreement dated February 4, 2025  entered into among the Company and a syndicate of underwriters, led by National Bank Financial Inc. and Beacon Securities Limited, acting as co-bookrunners, and including Raymond James Ltd., Scotia Capital Inc. and TD Securities Inc. In connection with the Offering, the Company paid the Underwriters a cash commission equal to 6.0% of the aggregate gross proceeds raised.

Net proceeds from the Offering will 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.

In addition to and concurrent with the Offering, the Company intends to complete its previously announced private placement of up to 11,193,565 Common Shares in connection with the exercise of participation rights held by an affiliate of Central Puerto S.A. and Kinross Gold Corporation at the Issue Price, for aggregate gross proceeds of up to $28,543,590.75. In connection with the Concurrent Private Placement, the Company may 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 Concurrent Private Placement will be subject to a hold period of four months plus one day from the closing date of the Concurrent Private Placement. The closing of the Concurrent Private Placement is expected to occur on or about February 11, 2025 and is subject to the Company receiving all necessary approvals, including the conditional approval from the TSX Venture Exchange.

The Offering was completed in all provinces and territories of Canada, except Quebec and Nunavut, pursuant to a prospectus supplement dated February 4, 2025 to the Company’s short form base shelf prospectus dated April 14, 2023, filed with the securities regulatory authorities in each of the provinces and territories of Canada, and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“) and applicable state securities laws and other jurisdictions. Copies of the Supplement, the Base Shelf Prospectus and the Underwriting Agreement are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

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.