AbraSilver Resource – A Series Of Key Project Milestones Achieved in 2026, Transitioning Into A Developer, While Continuing On As An Explorer

John Miniotis, President and CEO of AbraSilver Resource Corp (TSX: ABRA) (OTCQX: ABBRF), joins me to review key milestones achieved this year from the updated Mineral Resource Estimate (MRE), Phase 1 Definitive Feasibility Study (DFS), environmental permit approvals from both provinces, RIGI approval, commencement of the bridge engineering phase, Phase 2 economics trade-off studies underway, board and management team additions, and the ongoing Phase 6 drill program on the Company’s wholly owned Diablillos property in the mining-friendly provinces of Salta and Catamarca, Argentina.

In May the company released an updated Mineral Resource Estimate (“MRE”), which demonstrated significant growth across the Project, with Measured & Indicated (“M&I”) resources now totaling 232 million tonnes (“Mt”), containing approximately 248 million ounces (“Moz”) of silver and 2.54 Moz of gold (454 Moz silver-equivalent “AgEq”). For the first time ever, the DFS released in June now includes the Project reserves as proven and probable ounces.

DFS Study Highlights on just the tank leach portion of the Project, based on a stand-alone 9,000 tonnes per day (“tpd”) processing operation:

After-tax NPV5% of $3.0 billion (CAD$ 4.2 billion), 41.9% IRR and 1.7-year payback at base-case metal prices.

At spot prices, after-tax NPV5% increases to $4.8 billion (CAD$6.7 billion) with an IRR of 56.5% and payback of 1.4 years.

Average annual production of 20 Moz silver equivalent (“AgEq”) during the first five years of full mine production, comprised of 14 Moz Ag and 89 koz Au;

Average life-of-mine (“LOM”) annual production of 10 Moz AgEq, comprised of 5.9 Moz Ag and 62 koz Au over a 25-year life of mine (“LOM”).

Low All-in Sustaining Cash Costs (“AISC”)2 of $20/oz AgEq over the LOM – positioning Diablillos among the lowest-cost primary silver projects globally.

Initial capital expenditures of $722 million (including $98 million contingency) with subsequent sustaining capital of $520 million funded through operating cash flow.

Increased Proven and Probable Mineral Reserves of 77.9 Mt grading 146 g/t Ag Eq, containing 183 Moz Ag and 1.8 Moz Au (366 Moz AgEq), estimated from an open pit optimized using metal prices of $29.50/oz Ag and $2,800/oz Au.

First production targeted before year-end 2029, subject to a final investment decision (“FID”) expected in Q2 2027.

The Company is working on an upcoming Phase 2 economics study: