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Abraplata to start 2,000-metre Diablillos drill program

Abraplata Resource Corp.
|
Wednesday, May 24th

Mr. Willem Fuchter reports

ABRAPLATA TO MOBILIZE DRILL RIG FOR ITS DIABLILLOS AG-AU PROJECT IN ARGENTINA

Abraplata Resource Corp. has awarded a 2,000-metre drilling contract to Foraco Argentina SA, the wholly owned Argentine subsidiary of Foraco International SA. A truck-mounted Boart Longyear LF-90 drill rig is being mobilized to undertake a 15-hole program on Abraplata's Diablillos silver-gold project in the high plains desert of the Puna in southern Salta province of northwestern Argentina, and drilling operations are to commence by the end of the week. The planned diamond drill program is expected to bring additional mineralization at the Fantasma mineralized zone into a resource category with a view to further defining and expanding the existing resources outlined at the Oculto deposit, approximately 800 metres to the east of Fantasma. This will, in turn, allow the company to establish the parameters necessary for updating a previously prepared internal preliminary economic assessment study.

Diablillos

The Diablillos property lies at an elevation of 4100m above sea level, and covers an area of 79km 2 . It is located in a rapidly developing mineral province in northwestern Argentina that includes the TacaTaca (First Quantum), Lindero and Arizaro (Fortuna), Rio Grande (Regulus), and Samenta (AbraPlata) deposits. Access is good with all-weather gravel roads and a serviceable airstrip on a neighbouring property.

The property hosts the Ag-Au epithermal Oculto Deposit for which an indicated resource has been estimated consisting of 27.7m tonnes at 91.2g/t Ag and 0.85g/t Au and containing 81.3m oz Ag and 755k oz Au (135m oz AgEq or 1.9m oz AuEq). Oculto is only one of nine mineral occurrences located on the Diablillos property.

The Fantasma zone lies immediately to the west of Oculto, and has been identified by a number of trenches and four drill holes. A dacite porphyry at the Cerro Viejo Este occurrence, some 1200m north-northwest of Oculto, hosts Cu-Au mineralization that has been intersected in two drill holes in a dacite porphyry. At Pedernales to the north of Oculto, narrower but higher grade epithermal mineralization has been intersected in a number of drill holes. Altogether, some 85,000m of drilling in 448 holes have has been undertaken on the Property, the majority of them on Oculto.

About AbraPlata Resource Corp.

Abraplata is a junior mining exploration company focused on delivering shareholder returns by unlocking mineral value in Argentina. The Company's experienced management team has assembled an outstanding portfolio of gold, silver and copper exploration assets, and is focused on advancing its flagship Diablillos property through the various stages of feasibility. In addition, AbraPlata owns the highly prospective Cerro Amarillo property with its cluster of five mineralized Cu-(Mo-Au) porphyry intrusions located in a mining camp hosting the behemoth El Teniente, Los Bronces, and Los Pelambres porphyry Cu-Mo deposits. Further exploration work is also planned for the Company's Samenta porphyry Cu-Mo property south of First Quantum's TacaTaca project as well as its Aguas Perdidas Au-Ag epithermal property.

Qualified Person

Willem Fuchter, PGeo, President and CEO of AbraPlata Resource Corp. and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

http://www.abraplata.com/

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