Slide 1: A Tier-One Silver-Gold Opportunity in the Making
July 2025 TSX: ABRA OTCQX: ABBRF A Tier-One Silver-Gold Opportunity in the Making www.abrasilver.com
Slide 2: Disclaimers
Disclaimers This presentation, as supplemented or amended from time to time, is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. The information contained herein has been prepared for the purpose of providing interested parties w
Slide 3: Advancing a Stand-Out Silver-Gold Project
Advancing a Stand-Out Silver-Gold Project Diablillos: A Premier Silver-Gold Project Exceptional Growth & Industry-Leading Total M&I Resource – July 2025(1): Discovery Costs 104Mt @ 59 g/t Ag & 0.51 g/t Au M&I resources increased by +170% since 199 M oz Silver & 1.7 M oz Gold (350 M oz AgEq) 2020, at
Slide 4: Attractive Valuation Upside & Strategic Shareholder Support
Attractive Valuation Upside & Strategic Shareholder Support CAPITALIZATION (as of July 29, 2025) TOP SHAREHOLDERS Share Price (CAD) $5.57 Central Puerto 10% Basic Shares Outstanding 152M Eric Sprott 8% Warrants / Options nil / 4.5M Kinross Gold 4% Market capitalization C$847M Management & Board 3% N
Slide 5: Salta Ranked #1 for Investment Attractiveness in Latin America in 2023
Salta Ranked #1 for Investment Attractiveness in Latin America in 20231 Located in Salta, with strong permitting, political support and international mining activity 5 (1) Based on 2023 Fraser Institute Mining Survey abrasilver.com| |TSX: abrasilver.com TSX:ABRA ABRA| |OTCQX: OTCQX:ABBRF ABBRF
Slide 6: Diablillos Project
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Slide 7: Consistently Transforming Exploration Into Value
Consistently Transforming Exploration Into Value Since 2020, ABRA has grown Diablillos’ M&I resource by +170% at an average discovery cost of only US$0.11/oz AgEq +36% Fully-funded Diablillos Resource Growth Since Acquisition (M&I Contained)(1)(2) US$0.12/oz Discovered 20,000m Phase V Program Underw
Slide 8: Expanding Near-Surface, Large-Scale Silver-Gold Resources
Expanding Near-Surface, Large-Scale Silver-Gold Resources Notes: Current Mineral Resources effective as of July 21, 2025. abrasilver.com || TSX: TSX: ABRA ABRA || OTCQX: OTCQX: ABBRF ABBRF 8 abrasilver.com
Slide 9: Significant Exploration Upside Potential
Significant Exploration Upside Potential Exploration & Growth Highlights: Phase V (20,000m) program Plan View of Mineral Resource Estimate underway, focused on: Oculto East - top exploration focus, targeting high-grade extension JAC extension; New Sombra target; Regional discovery upside: Ce
Slide 10: Oculto East: Best-Ever Gold Intercept Highlights Growth Upside
Oculto East: Best-Ever Gold Intercept Highlights Growth Upside Recent drilling encountered our best-ever gold intercept, on a grade-thickness basis: 31m @ 10.0 g/t Au, incl. 6 m @ 41.9 g/t Au (in oxides); further expanding open-pit potential Hole also intersected a near-surface zone of 13m @ 307 g/t
Slide 11: Oculto East: Targeting High-Grade Extensions
Oculto East: Targeting High-Grade Extensions Oculto East remains open in multiple directions, with strong potential to further extend the current resource base This prospective area is now a top-priority drill target, with multiple holes planned to follow-up on recent success. Note: Hole DDH 25-062
Slide 12: Robust PFS Results – With Significant Upside
Robust PFS Results – With Significant Upside December 2024 PFS Study – Operation Metrics Mine Life / Throughput 14 years (9,000 tpd) Initial Capital Expenditures (Incl. contingency) US$544 million Avg Annual Production – First 5 years 11.7 M oz silver, 59 koz gold (16.4 Moz AgEq) @ AISC: US$11.23/oz
Slide 13: Unlocking Significant Additional Value in DFS
Unlocking Significant Additional Value in DFS Several high-impact initiatives are being evaluated to further enhance project economics: Connect to National Grid (vs. on-site power generation power): Potential initial capex savings: ~US$60M Potential opex savings: ~up to US$15M per year Mine oppo
Slide 14: Unlocking Major Value with RIGI
Unlocking Major Value with RIGI: Argentina’s Incentive Regime for Large Investments Key Advantages of RIGI: Diablillos is Fully Eligible for RIGI benefits: 1 Lower Taxes Projects +$200M can apply by July 2026, and must Corporate tax rate reduced to 25% (vs. 35%) invest 40% within 2 years of approval
Slide 15: Significant Upside with Rising Silver & Gold Prices
Significant Upside with Rising Silver & Gold Prices At current spot prices, Diablillos delivers a Net Present Value (NPV5%) of +CAD$2.4 Billion or +15.00/sh. ABRA is currently trading at ~0.30x NPV, offering major re-rating potential. Each 10% increase in silver & gold prices, further boosts project
Slide 16: Compelling Investment Re-Rating Opportunity
Compelling Investment Re-Rating Opportunity Production vs Market Capitalization $6,000 Average market capitalization Market Capitalization (US$M) for producer peers of ABRA’s $5,000 production scale is +US$1.8B $4,000 $3,000 $2,000 $1,000 -- 0 10 20 30 40 50 60 (1) 2025E Production (Moz AgEq) ABRA b
Slide 17: Unlocking Value: Positioned for Re-Rate as Seen in Peer Transactions
Unlocking Value: Positioned for Re-Rate as Seen in Peer Transactions Source: Broker reports, Company filings, FactSet as of July 4, 2025 1 Represents AbraSilver market capitalization as of July 4, 2025; acquisition equity values shown for peers 17 2 abrasilver.com Calculated based on market capitali
Slide 18: La Coipita Project (San Juan, Argentina)
La Coipita Project (San Juan, Argentina) ABRA owns an option to acquire a large +70,000 ha project in one of the world’s most endowed Cu-Au belts (e.g. Filo del Sol, Los Azules, Pelambres) 18 abrasilver.com abrasilver.com| TSX-V: ABRA || OTCQX: | TSX: ABRA OTCQX: ABBRF ABBRF
Slide 19: La Coipita: Major Copper-Gold Potential
La Coipita: Major Copper-Gold Potential advancing drilling, with the option to earn an 80% interest (1) : (i) US$20M in exploration over 5 years; (ii) US$3M cash payments to ABRA ($1.5M remaining by Jan. 31, 2028), and (iii) US$6.3M payments to original project holders Hole DDH-LC25-006: 621 m gradi
Slide 20: Key Catalysts Over Next 12 Months
Key Catalysts Over Next 12 Months Upcoming Key Milestones Key Catalysts in Next 12 Months – Expected to significantly enhance shareholder value (i) EIA permit approval; (ii) RIGI Approval; (iii) Completion of Definitive Feasibility Study Each of these milestones has the potential to meaningful
Slide 21: Additional Information
ional Information
Slide 22: Additional Disclaimers
Additional Disclaimers NON-IFRS MEASURES: This news release contains certain non-IFRS measures, including all-in sustaining cash cost (“AISC”). AISC includes operating costs, royalties, sustaining capital, closure costs, and corporate G&A and is calculated based on guidance provided by the World Gol
Slide 23: Experienced Leadership Team with Proven Success
Experienced Leadership Team with Proven Success Management John Miniotis, Chief Executive Officer • 20+ years of experience in the mining industry (Lundin Mining, AuRico Metals, Barrick, BMO) focused primarily on mergers & acquisitions, equity capital markets, IR & corp finance David O’Connor, Chief
Slide 24: Mineral Reserve Estimate (Mar. 07, 2024)
Large P&P Reserves - March 2024 Mineral Reserve Estimate (Mar. 07, 2024) Additional details of the Mineral Resources are available in a company news release dated Mar. 25, 24 2024. abrasilver.com || TSX: abrasilver.com TSX: ABRA ABRA || OTCQX: OTCQX: ABBRF ABBRF
Slide 25: Mineral Resource Estimate (July 29, 2025)
Updated M&I Resources - July 2025 Mineral Resource Estimate (July 29, 2025) Additional details of the Mineral Resources are available in a company news release dated July 29, 2025. 25 A NI 43-101 Compliant Technical Report will be filed within 45 days of July 29, 2025 abrasilver.com || TSX: abrasilv
Slide 26: Mineral Resource Estimate (July 29, 2025)
Updated M&I Resources - July 2025 Mineral Resource Estimate (July 29, 2025) Additional details of the Mineral Resources are available in a company news release dated July 29, 2025. 26 A NI 43-101 Compliant Technical Report will be filed within 45 days of July 29, 2025 abrasilver.com || TSX: abrasilv
Slide 27: Oculto Geological Model
Oculto Geological Model Epithermal Ag-Au Deposit with Cu-Au Porphyry Intrusive Diablillos property has multiple epithermal and porphyry targets Oculto Zone contains majority of the resources and has over 120,000 m of drilling, but only down to a depth of ~400 m Past drilling focused on the high sulp
Slide 28: Map of Mineralized Zones: Oculto – JAC Area
Map of Mineralized Zones: Oculto – JAC Area 28 abrasilver.com || TSX: abrasilver.com TSX: ABRA ABRA || OTCQX: OTCQX: ABBRF ABBRF
Slide 29: Long-Section of High-Grade Intercepts Oxides & Sulphides
Long-Section of High-Grade Intercepts Oxides & Sulphides Beneath the oxide gold zone, we’ve intersected several high-grade Cu/Au sulphide intercepts The sulphide zone currently extends for ~ 2 km, and remains largely untested Represents a significant exploration target which will be evaluated in fut
Slide 30: Summary of High-Grade Results To Date
Summary of High-Grade Results To Date High-Grade Results AbraSilver has consistently achieved significant high-grade results to date. Ongoing Exploration We continue to explore and expand our understanding of the mineral deposits. 30 abrasilver.com || TSX: abrasilver.com TSX: ABRA ABRA || OTCQX: OTC
Slide 31: Diablillos Porphyry Complex – Drill Section
Diablillos Porphyry Complex – Drill Section 31 abrasilver.com || TSX: abrasilver.com TSX: ABRA ABRA || OTCQX: OTCQX: ABBRF ABBRF
Slide 32: Diablillos – Excellent Access to Infrastructure
Diablillos – Excellent Access to Infrastructure Located within an established mining camp that hosts multiple lithium and borate mining operations Accessible via all-weather gravel roads, with a nearby airstrip (~25 km) Evaluating solar power as primary energy source; a regional grid power extension
Slide 33: Updated Capital Costs
Updated Capital Costs Updated initial capex of US$544 million reflect a more detailed and accurate assessment of Project’s requirements. ~80% of costs based on contractor quoted prices. Increase mainly due to: I. Changes to F/X rates on imports: ~$60M increase as spread on blue chip swap rate has na
Slide 34: Conventional Process Flowsheet
Conventional Process Flowsheet 34 abrasilver.com || TSX: abrasilver.com TSX: ABRA ABRA || OTCQX: OTCQX: ABBRF ABBRF
Slide 35: Excellent Metallurgical Testwork Results
Excellent Metallurgical Testwork Results 84% 87% Average LOM Silver Recovery Average LOM Gold Recovery A substantial percentage of the silver and gold can be recovered by gravity separation which results in higher recovery rates and lower processing costs Fine grinding is not necessary with the
Slide 36: Water Easements in Place
Water Easements in Place Abundant nearby fresh water with easements in place Easements already in place for several wells with applications being prepared for additional easements Adequate supply identified for up to a 9,000 tpd operation with plans to explore for additional water resources. 36 abra
Slide 37: Capital Structure (as of March 2025)
Capital Structure (as of March 2025) Potential Outstanding Proceeds (M) Price (CAD$ M) Expiry Basic Shares Outstanding 152.5 Total Warrants 0 Present – Feb. Total Options 4.5 $1.25 $5.6 ‘28 Fully Diluted Shares 157.0 37 abrasilver.com || TSX: abrasilver.com TSX: ABRA ABRA || OTCQX: OTCQX: ABBRF ABBR
Slide 38: To Find Out More, Contact
To Find Out More, Contact: John Miniotis – President & CEO info@abrasilver.com +1.416.306.8334 www.abrasilver.com