Abrasilver Resource Corp. · TSX:ABRA
Abrasilver Resource — Investor Presentation (October 2026)
40 slides from Abrasilver Resource's investor presentation, October 2026
Slide 1: Delivering the Next Major Silver Producer
October 2026 TSX: ABRA OTCQX: ABBRF Delivering the Next Major Silver Producer 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: Delivering the Next Major Silver Producer
Delivering the Next Major Silver Producer • Total M&I Oxide Resources – May 2026(1): Recognized as a Top-Performing Diablillos: A Premier • Tank Leach: 102 Mt @ 65 g/t Ag & 0.62 g/t Au Company Silver-Gold Project • Heap Leach: 130 Mt @ 8 g/t Ag & 0.12 g/t Au • Total: 248 Moz Silver & 2.5 Moz Gold (4
Slide 4: Experienced Leadership & Board of Directors
Experienced Leadership & Board of Directors KEY MANAGEMENT BOARD OF DIRECTORS John Miniotis | Chief Executive Officer & Director Marie Inkster | Executive Chair 20+ years in corporate finance, M&A and equity capital markets, executed numerous Former CEO & CFO of Lundin Mining; led financing, M&A and
Slide 5: Salta/Catamarca: A Well-Ranked Region for Investment Attractiveness
Salta/Catamarca: A Well-Ranked Region for Investment Attractiveness in Latin America1 Located in Salta/Catamarca cooperation area – a premier mining jurisdiction with strong permitting, political support and international mining activity Salta Catamarca Notes: 5 (1) Salta Ranked #1 Based on 2023 Fra
Slide 6: RIGI: Significant Support for Diablillos
RIGI: Significant Support for Diablillos DIABLILLOS SECURED RIGI APPROVAL (MARCH 2026)(1) Projects +US$200M can apply by deadline of July 2027, and must invest at least US$80M within two years of approval (May 2028) KEY ADVANTAGES OF RIGI: ARGENTINA RIGI VS. PEER MINING JURISDICTIONS 1 Income Tax Ra
Slide 7: 2026 DFS Key Highlights
2026 DFS Key Highlights AFTER-TAX PROJECT ECONOMICS PRODUCTION & COSTS BASE CASE SPOT US$50.00/oz Ag | US$3,650/oz Au US$70.69/oz Ag | US$4,338/oz Au US$3.0B US$4.8B 129 g/t 25 Years NPV5% NPV5% LOM Average AgEq Grade Mine Life 41.9% 56.5% 20.3 Moz 10.3 Moz IRR IRR 1.7 Year 1.4 Year AgEq First 5 Yea
Slide 8: Operational Summary
Operational Summary LOM PRODUCTION BREAKDOWN LOM PRODUCTION & COST PROFILE Silver Production 40.0 Ag (Moz) - LHS Au (Moz AgEq) - LHS AISC (US$/oz AgEq) - RHS $40.00 Years 1-5 Average: 13.9 Moz Ag LOM Average: 5.9 Moz Ag LOM Total : 147 Moz Ag 35.0 $35.00 Optimization, expansion and exploration Gold
Slide 9: Clear Pathway to Growth Beyond the DFS
Clear Pathway to Growth Beyond the DFS DFS is based only on Phase 1 only. Heap leach and plant expansion represent significant upside potential, not included in the DFS. Plus ongoing exploration continues to offer additional upside. Note: Refer to press release dated June 22, 2026 for details. Expan
Slide 10: Robust Economics & Leverage to Commodity Prices
Robust Economics & Leverage to Commodity Prices After-tax NPV5% After-tax IRR 2026 DFS highlights Diablillos’ significant leverage to commodity prices 56.5% 50.9% 41.9% US$4.8B 31.4% US$4.1B US$3.0B US$1.9B Downside Case Base Case Upside Case Spot US$40.00/oz Ag | US$2,920/oz Au US$50.00/oz Ag | US$
Slide 11: Diablillos to Become One of the Largest Silver Mines Globally
Diablillos to Become One of the Largest Silver Mines Globally LARGEST PRODUCING PRIMARY SILVER MINES GLOBALLY (MOZ Ag)(1) (2) 18.9 17.6 17.2 (2) 13.9 13.8 13.7 11.1 10.3 9.8 9.2 8.7 8.4 8.3 6.5 6.5 6.1 6.0 5.9 5.3 4.8 4.5 4.0 Diablillos San Juanicipio Diablillos Saucito Dukat Yumpag & Fresnillo Puna
Slide 12: Significant Re-Rate Potential as Diablillos Advances to Production
Significant Re-Rate Potential as Diablillos Advances to Production Sources: Capital IQ, Street Research Notes: Refer to press release dated June 22, 2026 for details, priced as of October 1, 2026, peer average excludes AbraSilver 12 (1) AbraSilver P/NAV multiple calculated as October 1, 2026 share p
Slide 13: Clear Pathway to Production
Clear Pathway to Production 2026 = Key Permitting, DFS & Financing Milestones 2027 to 2029 = Project Development & Production DIABLILLOS DEVELOPMENT TIMELINE 2026 2027 2028 2029 Catalyst | Time H1/26 H2/26 H1/27 H2/27 Full-Year Full-Year Ongoing Exploration & Resource Growth RIGI Approval Updated MR
Slide 14: Ongoing Exploration Continues to Deliver Strong Results
Ongoing Exploration Continues to Deliver Strong Results Recent drilling continues to expand and enhance mineralization across multiple target areas at Diablillos. Oculto East: ▸Hole DDH-25-077: 8.5 m at 13.8 g/t gold (337m downhole) ▸ Hole DDH-26-001: 207.5 m at 0.48 g/t gold (263m downhole) ▸ Hole
Slide 15: Exceptional Growth at Industry-Leading Discovery Costs
Exceptional Growth at Industry-Leading Discovery Costs Diablillos Resources Growth Since Acquisition (M&I Contained Metal)(1),(2) Further Exploration Since 2020, AbraSilver has grown Diablillos’ M&I Upside resources by over 250% at an average discovery cost of only US$0.10/oz AgEq +30% US$0.07/oz Di
Slide 16: Oculto East Confirms Extensive Vertical & Lateral Mineralized System
Oculto East Confirms Extensive Vertical & Lateral Mineralized System 274 m @ 0.60 g/t Au from 251 m including 23 m @ 2.83 g/t Au Cu + Mo IN SULPHIDES Multiple intervals at greater depth >1 km VERTICAL REACH Mineralization and alteration remain open vertically SCALE AND GRADE OF THE DEEP CENTER REMAI
Slide 17: Strong Balance Sheet & Strategic Shareholder Support
Strong Balance Sheet & Strategic Shareholder Support CAPITALIZATION (as of October 1, 2026) CURRENT KEY SHAREHOLDERS Share Price C$12.13 Eric Sprott Basic Shares Outstanding 165.5M 8% Warrants / Options nil / 4.7M Helikon Investments 7% Market Capitalization C$2,215M Kinross Net Cash (estimate post
Slide 18: AbraSilver: A Premier Silver Development Company
AbraSilver: A Premier Silver Development Company 1 Unique Silver Opportunity Only Construction-Ready Primary Silver Project Globally 2 Robust Economics Base Case After-Tax NPV5% of US$3.0B and IRR of 42% 3 Strong Government Support RIGI Provides Long-Term Fiscal Stability 4 Tangible Upside Opp
Slide 19: 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 20: Appendix
Appendix 20 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 21: Strong Track Record of Disciplined Capital Raising
Strong Track Record of Disciplined Capital Raising Sources: Capital IQ, Company Filings Notes: Excludes the US$1M private placement completed under the La Coipita option agreement 21 (1) Price adjusted for 5:1 share consolidation, implemented in May 2024 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 22: Large P&P Reserves - May 2026
Large P&P Reserves - May 2026 (Tank Leach Only) Notes: Additional details of the Mineral Resoerves are available in a company news release dated June 22, 2026 22 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 23: Updated M&I Resources - April 2026
Updated M&I Resources - April 2026 Total Diablillos Mineral Resources Summary (Tank & Heap Leach) - As of April 30, 2026 Notes: Additional details of the Mineral Resources are available in a company news release dated May 06, 2026. 23 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 24: Production & Cost Summary
Production & Cost Summary PRODUCTION METRICS OPERATING COSTS CAPITAL COSTS LOM Total US$/t US$M Material Mined Mt 78 Mining (Ore and Waste) $17.20 Surface Mining $7.6 Silver Grade g/t 73 Processing $29.01 Process Plant $229.3 Gold Grade g/t 0.70 G&A and Other $6.20 Site Infrastructure $93.2 Silver E
Slide 25: Mineral Reserve Pit Shell
Mineral Reserve Pit Shell Legend Gold Silver Oculto: 67 Mt grading 61 g/t Ag Oculto and 0.81 g/t Au JAC: 11 Mt grading 154 g/t Ag and 0.06 g/t Au Total LOM recovered metal: 147 Moz Ag and 1.5 Moz of Au JAC Note: Refer to press release dated June 22, 2026 for details 25 abrasilver.com | TSX: AB
Slide 26: Significant Resource Growth Across Deposits
Significant Resource Growth Across Deposits (2026 vs. 2025) Growth by Deposit - Tank Leach M&I (2026 MRE vs July ‘25 MRE) Deposit Tonnes Contained Contained Ag Au Oculto 45% 15% 31% JAC 13% 12% 20% Fantasma 66% 70% - Laderas 88% 70% 84% Sombra 20% 0% 42% Total 40% 14% 31% Notes(1): 2026 Avg. cut-off
Slide 27: District-Scale Exploration Upside Beyond Oculto-JAC
District-Scale Exploration Upside Beyond Oculto-JAC ▸The broader Diablillos property remains significantly underexplored, with multiple high-priority regional targets ▸ Near-term drilling will focus on the Cerro Viejo, an emerging gold discovery located ~4 km from Oculto 27 abrasilver.com | TSX: ABR
Slide 28: Key Exploration Targets With Resource Expansion Potential
Key Exploration Targets With Resource Expansion Potential Multiple high-priority exploration targets continue to demonstrate strong potential to further expand oxide mineralization. Key targets: #1 Oculto East: Mineralization remains open for several hundred metres beyond current resource envelope,
Slide 29: Epithermal Above. Porphyry Below.
Epithermal Above. Porphyry Below. Structures Connect the System The structures are key; a continuous extension of Main Breccia and Cross Breccia towards the Northeast promises a continuity of the deposit. 01 SHALLOW HS EPITHERMALIN OXIDE Residual/vuggy silica, breccias and near-surface Au–Ag. 02 STR
Slide 30: Deposit Geology & Mineralization
Deposit Geology & Mineralization Long-Section of High-Grade Intercepts Oxides & Sulphides 30 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 31: Simple and Low Risk Tank Leach Process Flowsheet
Simple and Low Risk Tank Leach Process Flowsheet 80.3% LOM SILVER RECOVERIES 87.3% LOM GOLD RECOVERIES 31 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 32: Processing Facilities and Mine Services Area Layout
Processing Facilities and Mine Services Area Layout 32 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 33: Mine Plan Changes
Mine Plan Changes The new optimized mine plan provides for improved production and cashflows in first five years of the mine plan. • Total mine movement of 35 Mtpa for the first 17 years of the LOM Final Pit • High grade material is processed first. Lower grades are stockpiled Initial Phases • Lower
Slide 34: Power Supply – Grid Option – East-West Connection
Power Supply – Grid Option – East-West Connection 34 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 35: Power Supply – Grid Option – North South Connection
Power Supply – Grid Option – North South Connection 35 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 36: Water Supply
Water Supply Barranquillas Basis – Base Case Alpacas Water Exploration Target on Exsiting Concessiongs – Future Expansion >5,500 m3/day proven capacity to supply the 9ktdp Tank Leach project ~5000 m3/day available 36 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 37: Tailings Storage Facility
Tailings Storage Facility Tailings disposal technology considers low cost and simple to operate slurry tailings The TSF is designed using best practices under the GISTM(1) standard, and considers co-disposal of waste-rock together with tailings The enhanced TSF incorporates a downstream waste
Slide 38: La Coipita Project (San Juan, Argentina)
La Coipita Project (San Juan, Argentina) ABRA owns a large +70,000 ha project in one of the world’s most endowed Cu-Au belts (e.g. Vicuna district, Los Azules, Pelambres) 38 abrasilver.com | TSX: ABRA | OTCQX: ABBRF
Slide 39: 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 (completed); (ii) US$3M cash payments to ABRA ($1.5M remaining by Jan. 31, 2028), and (iii) US$6.3M payments to original project holders (paid) 2026 drill
Slide 40: To Find Out More, Contact
To Find Out More, Contact: John Miniotis – President & CEO info@abrasilver.com +1.416.306.8334 www.abrasilver.com
AbraSilver Resource — Investor Presentation (October 2026) on 6ix