AbraSilver Announces Closing of C$20 Million Strategic Investments by Kinross Gold and Central Puerto
220 Bay Street, Suite 550, Toronto, ON, M5J 2W4
www.abrasilver.com
AbraSilver Announces Closing of C$20 Million Strategic Investments by Kinross Gold
and Central Puerto
Toronto - April 26, 2024: AbraSilver Resource Corp. (TSX.V:ABRA; OTCQX: ABBRF) ("AbraSilver"
or the “Company”) is pleased to announce the completion of its previously announced non-brokered
private placement (the “Private Placement”). The Company issued 50,000,000 common shares (the
“Common Shares”) at a price of $0.40 per share for aggregate gross proceeds of C$20 million. As a
result, Kinross Gold Corporation (“Kinross”) (NYSE: KGC, TSX: K) and an affiliate of Central Puerto SA
(“Central Puerto”) (NYSE: CEPU) each own approximately 4.0% of the outstanding Common Shares on
an undiluted basis.
All Common Shares issued in connection with the closing of the Private Placement are subject to a four-
month-and one-day statutory hold period in accordance with applicable securities laws.
The strategic investments by Kinross and Central Puerto call for the formation of a five-person Technical
Advisory Committee comprised of two members from AbraSilver, two members from Kinross and one
member from Central Puerto. The Technical Advisory Committee will provide advice and guidance on
the upcoming Phase IV exploration campaign and the future development plans for the Company’s
flagship Diablillos project in Salta Province, Argentina (“Diablillos”). Separately a Strategic & Operational
Committee will be formed, comprised of two members from AbraSilver and two members from Central
Puerto. The Strategic & Operational Committee will provide advice and guidance on strategic,
operational, financial, tax, infrastructure, government and regulatory affairs, among others matters.
Mr. John Miniotis, President and CEO of AbraSilver commented: “We are very pleased to welcome both
Kinross and Central Puerto as key shareholders and strategic partners in AbraSilver. With a strong
balance sheet consisting of approximately C$25 million in cash, the Company is now very well positioned
to aggressively advance Diablillos and continue to unlock value for all shareholders. We now turn our
focus to the upcoming drill program at Diablillos, which will be commencing over the coming weeks and
additional details will be provided in the near future.”
The Company will use the proceeds of the Private Placement for exploration and development of
Diablillos and for working capital and general corporate purposes. In connection with the completion of
the Private Placement, the Company will pay aggregate cash finders’ fees of C$900,000 to INFOR
Financial Inc. and Southern Cone Partners.
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.”
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
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. When considering this forward-looking information, readers should keep in mind the risk factors and
other cautionary statements in the Company’s disclosure documents filed with the applicable Canadian securities
regulatory authorities on SEDAR+ at www.sedarplus.ca. The risk factors and other factors noted in the disclosure
documents could cause actual events or results to differ materially from those described in any forward-looking
information. 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.
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.