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AbraPlata Upsizes Previously Announced Private Placement

NOT FOR DISTRIBUTION IN THE U.S. OR DISSEMINATION THROUGH U.S. NEWSWIRE SERVICES

Toronto – August 07, 2020: AbraPlata Resource Corp. (TSX.V:ABRA; OTCPK: ABBRF) ("AbraPlata" or the “Company”) is pleased to announce that it has increased the size of its previously announced non-brokered private placements of units (the “Offering”) from $15,000,000 to $18,000,000.  Upon closing of the Offering, the Company will issue up to 66,666,667 units ("Units") at a price of CAD$0.27 per Unit.  Each Unit will consist of one common share in the equity of the Company (each, a "Common Share") and one-half of one share purchase warrant (each whole warrant, a "Warrant").  Each Warrant will entitle the subscriber to purchase one additional Common Share at a price of $0.40 until the second (2nd) anniversary of the closing date of the Offering.

The proceeds of the Offering will be used for exploration of the Company’s mineral properties and for general corporate purposes.

The Offering is scheduled to close on or about August 27, 2020, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals of the TSX Venture Exchange.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.  This news release does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.

About AbraPlata
AbraPlata is a mineral exploration company with a diversified portfolio of silver-gold and copper exploration projects in Argentina and Chile. The Company is focused on advancing its 100%-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina, which is well-advanced, with more than US$35 million spent historically on exploration with drilling ongoing and an initial open pit PEA completed in 2018.  The Company is led by an experienced management team and has long-term supportive shareholders including Altius Minerals and SSR Mining.  In addition, AbraPlata owns the Arcas project in Chile where Rio Tinto has an option to earn up to a 75% interest by funding up to US$25 million in exploration.  AbraPlata is listed on the TSX-V under the symbol “ABRA”.

For further information please visit the AbraPlata website at www.abraplata.com or contact:

John Miniotis, President & CEO
john@abraplata.com
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. 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.

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