TORONTO, Ontario - (NewMediaWire) - May 17, 2024 - TheNewswire - AbraSilver Resource Corp. (TSXV:ABRA) (OTCQX:ABBRF) ("AbraSilver" or the "Company"), is pleased to announce that it will implement the consolidation (the "Consolidation") of its common shares in the capital of the Company (the "Shares") on the basis of five (5) pre-Consolidation Shares for every one (1) post-Consolidation Share. The Consolidation will take effect at market open on May 22, 2024.

The Consolidation reduces the number of outstanding Common Shares from 624,703,913 to approximately 124,940,785. Shareholders' proportional ownership in the Company remains unchanged following the Consolidation.

All fractional shares less than one-half (1/2) will be cancelled and all fractional shares equal to or greater than one-half (1/2) will be rounded up to one whole Share. The exercise price and number of Shares of the Company issuable upon the exercise of outstanding stock options, restricted share units and warrants will be proportionately adjusted to reflect the Consolidation in accordance with the terms of the securities. The Company's new CUSIP number will be 00379L304 and the new ISIN number will be CA00379L3048. The Company's name and trading symbol will remain unchanged.

Registered shareholders who hold physical Share certificates will receive a letter of transmittal requesting that they forward pre-Consolidation Share certificates to the Company's transfer agent, TSX Trust Company in exchange for new Share certificates representing Shares on a post-Consolidation basis. Shareholders who hold their Shares through a broker or other intermediary and do not have Shares registered in their own name will not be required to complete a letter of transmittal.

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 province 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, whereby Teck can fund up to US$20 million in exploration expenditures and make certain other payments to earn up to an 80% interest. AbraSilver is listed on the TSX-V under the symbol "ABRA" and in the U.S. on the OTCQX under the symbol "ABBRF."