AbraSilver Resource Corp. (TSX: ABRA) is pleased to announce the successful closing of its previously announced private placement of 139,241 common shares of the Company at a price of $14.70 per Common Share for aggregate gross proceeds of approximately $2,046,843. This marks the completion of a total of approximately $52 million in recent financings, including the previously announced $50 million public offering of Common Shares.

In connection with the Offering, the Company issued 139,241 Common Shares to Kinross Gold Corporation, upon the exercise of certain participation rights held by Kinross. 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.

The net proceeds from the Offering are expected to be used 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 a leading silver-gold development company focused on advancing its 100%-owned Diablillos Project in the mining-friendly provinces of Salta and Catamarca, Argentina. The recently completed Definitive Feasibility Study highlights Diablillos as a robust, high-margin, long-life precious metals project with significant production potential and substantial exploration upside. 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.