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Toronto – September 21, 2021: AbraSilver Resource Corp. (TSX.V:ABRA; OTCQX: ABBRF) (“AbraSilver” or the “Company”)  is pleased to announce that Rio Tinto Mining and Exploration Limited (“Rio Tinto”) has commenced drilling at the Company’s Arcas copper-gold project (“Arcas” or the “Project”), located in Chile.

The Company’s wholly-owned Arcas project is subject to an earn-in with an option to joint venture agreement, whereby Rio Tinto may acquire up to a 75% stake in Arcas by incurring up to US$25 million in exploration expenditures.   The initial exploration program is expected to consist of approximately 2,000 metres of reverse circulation drilling in five holes.

John Miniotis, President and CEO of AbraSilver, commented, “We are excited to have Rio Tinto commence drilling activities at Arcas.  Having partnered with Rio Tinto, one of the world’s largest and most successful mining and exploration companies, provides a significant opportunity for AbraSilver to unlock additional exploration value for shareholders, while we continue to focus on our Diablillos silver-gold project and advancing our pipeline of exploration projects.”

Arcas Project Overview

The Arcas Project is located in the Antofagasta Region, 245 km northeast of Antofagasta city, a world class mining hub.  The Project is situated in the Atacama Desert, the cordilleran transitional zone between lower desert and high cordillera, at elevations ranging between 1,500-3,800 meters. The Arcas concession block constitutes a combined area of approximately 51,600 hectares and falls along the greater West Fissure-Domeyko mineralized trend which hosts numerous world-class porphyry copper deposits (e.g. Chuquicamata, Collahuasi, El Abra, and Quebrada Blanca).  Despite being located adjacent a major mineral belt, the Arcas Project has, to date, had little modern exploration and remains in a preliminary stage of exploration.

On September 11, 2019, the Company’s wholly-owned subsidiary, Aethon Minerals Chile SpA (“Aethon”), entered into an earn-in with an option to joint venture agreement (the “Agreement”), whereby Rio Tinto may acquire up to a 75% stake in Arcas by incurring US$25 million in exploration expenditures.   A summary of the key terms of the Agreement are as follows:

• 1st Option:  If Rio Tinto incurs total project expenditures of US$4 million within 3 years, and makes aggregate cash payments to Aethon of US$300,000 during the first two years (which have already been paid), it will have the right to acquire a 51% interest in the Arcas project through the acquisition of 51% stock of a new company (“Opco”) that will be incorporated;

• 2^nd Option:  If Rio Tinto incurs additional project expenditures of US$5 million over the subsequent 2-year period, it will have a right to acquire an additional 14% interest in Opco (holder of the Arcas project), resulting in its total interest being 65%; and

• 3^rd Option:  If Rio Tinto incurs additional project expenditures of US$16 million over the subsequent 3-year period, it will have a right to acquire an additional 10% interest in Opco (holder of the Arcas project), resulting in its total interest being 75%.

Technical information in this news release has been approved by David O’Connor P.Geo., Chief Geologist for AbraSilver, and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About AbraSilver

AbraSilver is a well-funded silver-gold focused advanced-stage exploration company. The Company is rapidly advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina, which has a Measured and Indicated resource base of over 160Moz on a silver-equivalent basis or 2.3Moz on a gold-equivalent basis.  The Company is led by an experienced management team and has long-term supportive shareholders including Mr. Eric Sprott and SSR Mining.  In addition, AbraSilver owns a portfolio of earlier-stage copper-gold projects, including the Arcas project in Chile where Rio Tinto has an option to earn up to a 75% interest by funding up to US$25 million in exploration.  AbraSilver is listed on the TSX-V under the symbol “ABRA” and in the U.S. under the symbol “ABBRF”.

For further information please visit the AbraSilver Resource website at www.abrasilver.com, our LinkedIn page at AbraSilver Resource Corp., and follow us on Twitter at www.twitter.com/abrasilver

Alternatively please contact:

John Miniotis, President and CEO
john@abrasilver.com
Tel: +1 416-306-8334

Cautionary Statements

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The Diablillos resource estimate is N.I. 43-101 compliant. Full details of the Mineral Resources are available in a Company news release dated September 15, 2021.  The full technical report, which is being prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”) by Mining Plus, will be available on SEDAR (www.sedar.com) under the Company’s issuer profile within 45 days of the news release dated September 15, 2021.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

Toronto – September 01, 2020: AbraPlata Resource Corp. (TSX.V:ABRA; OTCPK: ABBRF) (“AbraPlata” or the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Placement”).  In connection with the closing of the Placement, the Company issued 66,666,666 units (each, a “Unit”) at a price of $0.27 per Unit for gross proceeds of $18.0 million. Each Unit consisted of one common share in the equity of the Company (each, a “Common Share”) and one-half of one share purchase warrant (each whole warrant, a “Warrant”). 

Each Warrant entitles the subscriber to purchase one additional Common Share at a price of $0.40 until the second (2nd) anniversary of the closing date of the Placement. Notwithstanding the foregoing, in the event that, following the January 2, 2021, the volume weighted average price on the TSX Venture Exchange has been at least $0.70 for 20 consecutive trading days, the Company may deliver a notice to the holders of Warrants accelerating the Expiry Date to the date that is 30 days following such notice, and any unexercised Warrants after such period shall automatically expire.

Mr. Eric Sprott through 2176423 Ontario Ltd. (“2176423”), a corporation which is beneficially owned by him, acquired 36,481,500 Units pursuant to the Private Placement. After closing of the Placement, Mr. Sprott now beneficially owns or controls 62,481,500 Common Shares and 44,240,750 Common Share purchase warrants, representing approximately 15.8% of the Company’s issued and outstanding Common Shares on a non-diluted basis and 24.3% on a partially diluted basis assuming exercise of all warrants held by Mr. Sprott.  Prior to the closing of the Placement, Mr. Sprott owned 26,000,000 Common Shares and 26,000,000 Common Share purchase warrants.  Mr.  Sprott has signed an undertaking not to exercise his warrants until such time as the Company can obtain disinterested shareholder approval of the creation of a new control person, which is required once Mr.  Sprott passes the 20% ownership threshold.  The Company has agreed to call a shareholders’ special meeting within 4 months of the closing of the Placement, at which time such approval will be sought.

The Units were acquired by Mr. Sprott, through 2176423, for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of the Company including on the open market or through private acquisitions or sell securities of the Company including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of 2176423’s early warning report will appear on the Company’s profile on SEDAR and may also be obtained by calling 416-945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

Mr. John Miniotis, President and CEO of AbraPlata commented, “With a strong balance sheet consisting of over $25 million in cash, AbraPlata is now very well positioned to aggressively advance Diablillos and continue to unlock value for shareholders.  We are very pleased that Mr. Sprott is now the largest shareholder of AbraPlata and combined with Altius Minerals Corp. and SSR Mining Inc., the three parties collectively own over 36% of the Company.”

The proceeds of the Placement will be used to advance exploration activities at the Diablillos Silver-Gold project and for general working capital purposes. In connection with the completion of the Placement, the Company will pay aggregate finders’ fees of $1,035,217 to Clarus Securities Inc., Haywood Securities Inc. and Canaccord Genuity Corp. and issue 4,000,000 broker warrants exercisable for Common Shares at a price of $0.27 until the Expiry Date.

All securities issued in connection with the closing of the Placement are subject to a four-month-and one-day statutory hold period in accordance with applicable securities laws.

Mr. Sprott is an insider of the Company.  In addition, officers and directors of AbraPlata subscribed in the Placement for an aggregate of 199,966 Units and the participation of such officers and directors of AbraPlata and Mr. Sprott in the Placement constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) as the fair market value of the participation of Mr. Sprott and the directors and officers is not more than 25% of the Company’s market capitalization.  The Company did not file a material change report in respect of the related-party transaction at least 21 days prior to the closing of the Placement, which the Company deems reasonable in the circumstances so as to be able to avail itself of the proceeds of the Placement in an expeditious manner

The securities offered in the Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.

Toronto – TheNewswire – June 23, 2020: AbraPlata Resource Corp. (TSXV:ABRA) (OTC:ABBRF) (“AbraPlata” or the “Company”) is pleased to announce that it has increased the size of its previously announced non-brokered private placements of units (the “Private Placement”) from $4,000,000 to $5,000,000. Upon closing of the Private Placement, the Company will issue up to 43,478,260 units (“Units”) at a price of CAD$0.115 per Unit. Each Unit will consist of one common share in the equity of the Company (each, a “Common Share”) and one share purchase warrant (each, a “Warrant”). Each Warrant will entitle the subscriber to purchase one additional Common Share at a price of $0.17 until the second (2nd) anniversary of the closing date of the Private Placement.

The proceeds of the Private Placement will be primarily used to fund AbraPlata’s continuing exploration program at the Diablillos silver-gold project in Salta province, Argentina. A portion of the proceeds will be used for general working capital purposes.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.

About AbraPlata

AbraPlata is a mineral exploration company with a diversified portfolio of silver-gold and copper exploration projects in Argentina and Chile. The Company is focused on advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina, which is well-advanced, with more than US$35 million spent historically on exploration with drilling ongoing and an initial open pit PEA completed in 2018. The Company is led by an experienced management team and has long-term supportive shareholders including Altius Minerals and SSR Mining. In addition, AbraPlata owns the Arcas project in Chile where Rio Tinto has an option to earn up to a 75% interest by funding up to US$25 million in exploration. AbraPlata is listed on the TSX-V under the symbol “ABRA”.