AbraSilver Resource Corp. announce its latest diamond drilling assay results holes from the ongoing Phase III exploration program on the Company's wholly-owned Diablillos property in Salta Province, Argentina. Drilling at the JAC zone continues to consistently intersect high-grade silver oxide mineralization, with associated gold in some areas, at shallow depths, as well as underlying copper and silver mineralization in sulphides.

The JAC zone remains open along strike towards the southwest and in other directions. DDH 23-017 was drilled to test the southwest extension of the JAC zone and intersected several zones of silver mineralization in oxides, with 12.0 metres grading 876.1 g/t Ag from a downhole depth of 92.0 metres downhole, including 2.0 metres grading 4,968.4 g/t Ag and 0.14 g/t Au. DDH 23-020 was drilled towards the northern margin of the JAC zone and intersected several zones of silver and gold mineralization in oxides, including 19 metres at 149.5 g/t Ag and 0.78 g/t Au from 127.0 metres downhole.

DDH 23-021, located in the southeastern part of the drill target area, encountered high-grade silver mineralization in oxides, intersecting 32.0 metres grading 530.8 g/t Ag and 0.60 g/t Au from 161.5 metres downhole. This high-grade intercept further demonstrates the importance and continuity of the deeper layer of silver-gold mineralisation at JAC. Immediately beneath this high-grade oxide intercept, the hole encountered 6.0 metres grading 1.32% Cu and 52.6 g/t Ag in sulphide mineralization, demonstrating the potential of mineralised feeder structures at JAC to host substantial sulphide mineralisation.

DDH 23-023, located in the northwestern part of the drill target area shows continuity of silver dominant mineralisation along the northern margin of the deposit. The hole intersected 59.5 metres grading 103.4 g/t Ag and 0.05 g/t Au starting from a depth of only 50.5 metres. Drilling activity at Diablillos remains focused on the recently discovered JAC zone which is located several hundred metres southwest of the conceptual open pit that constrains the current Mineral Resource estimate on the main Oculto deposit.

To date, the Company has completed approximately 20,000 metres of drilling in 85 holes, as part of the planned 22,000-metre Phase III program that is primarily targeting the JAC zone. The Phase III exploration drill program will form the basis for an updated MRE and will be included in a Pre-Feasibility Study on the Diablillos project, which the Company expects to complete in the second half of 2023. Planned drilling will also test the margins of the JAC zone to provide data for geotechnical studies for a conceptual open pit at the JAC zone.

Additional exploration targets have been identified to the southwest of the Oculto MRE based on the recently completed detailed ground magnetic survey. Some of these targets, including the Fantasma and Alpaca targets, are expected to be drilled following the systematic drilling of the JAC zone. At the La Coipita project, a deep hole was completed down to a depth of 1,242 metres.

The Company has completed final core splitting and has sent final sample shipments to the laboratory. Assay results are expected to be received around late June and will be reported once they are received and interpreted.