Wide Silver Intercepts Drilling Continues At New JAC Zone

TORONTO - AbraSilver Resource Corp. reported on additional diamond drill holes from the ongoing Phase III program on the Diablillos property in Salta Province, Argentina. Drilling activity remains focused on the recently discovered JAC zone which is located several hundred meters southwest of the conceptual open pit that constrains the current Mineral Resource estimate on the main Oculto deposit.  Key takeaways from the latest drill results include: DDH 22-077 was drilled to test the continuation of the JAC zone to the north and intersected 32 meters at 122 g/t Ag starting at a down-hole depth of only 60 meters; DDH 22-078 intersected several zones of oxide silver mineralization, including 41 meters at 103 g/t Ag starting from a shallow down-hole depth of only 58 meters; DDH 22-079 was drilled to test the extension of the JAC zone northeast towards the Oculto deposit. The hole successfully demonstrated the potential continuity of mineralization between JAC and Oculto, intersecting 35 meters at 199 g/t Ag and 0.36 g/t Au, including a high-grade interval of 6.0 meters at 548 g/t Ag and 0.88 g/t Au; DDH 22-080 encountered multiple zones of silver mineralization, including 5.0 meters at 442 g/t Ag, within a broader interval of 52 meters grading 125 g/t Ag starting from only 50 meters down-hole; DDH 22-081 returned a broad zone of silver mineralization of 37.0 meters at 179 g/t Ag. This hole is situated approximately 625m beyond the southwest end of the Oculto mineralization included in the current Mineral Resource Estimate.; and DDH 22-082 encountered high-grade mineralization in the transition zone (containing a mix of oxides and sulfides) just beneath the oxide zone, with 26.5 meters grading 311 g/t Ag and 0.43 g/t Au, including 7.0 meters grading 936 g/t Ag and 1.46 g/t Au.

John Miniotis, President and CEO, commented, “Each batch of drill results received from the new JAC zone increases the prospective scale of this unfolding, high-grade deposit.  The continuity of high-silver grades and broad widths of mineralization encountered at shallow depths with step out drilling clearly bodes very well for the potential economics of this new discovery.  We eagerly await additional assay results, which we believe will lead to a significant mineral resource estimate (MRE) at JAC, adding to the large existing MRE on the Oculto deposit, which is located approximately 500 meters to the northeast.”

Dave O’Connor, Chief Geologist, said, “Drilling results from the new JAC zone continue to consistently encounter high-grade silver mineralization in oxides at shallow depths.  Today’s results further support our understanding that the silver mineralization at the JAC zone has excellent continuity. Importantly, the JAC zone is now delineated over a strike length of 600 meters, a vertical extent of 150 to 200 meters and average width of up to 150 meters, and continues to remain open in multiple directions. The remainder of our Phase 3 program will continue to step-out the JAC zone along strike, laterally and down dip, and will also selectively test other new high-priority exploration targets within the broader Diablillos land package.”