Americas Gold and Silver Corporation Provides Q1-2024 Production Results; Appoints Jim Currie as Chief Operating Officer

Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, is pleased to provide its Q1-2024 production results and announce Jim Currie as Chief Operating Officer.

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Consolidated Quarterly Attributable Silver Production (Graphic: Americas Gold and Silver Corporation)

• Q1-2024 consolidated attributable silver production of 0.48 million ounces compared with approximately 0.50 million ounces in Q1-2023. The Company also produced 8.0 million attributable pounds of zinc and 4.0 million attributable pounds of lead during Q1-2024.
• Production from the Cosalá Operations was strong as the operation benefitted from above budgeted silver grades and recoveries. The Galena Complex production was slightly below budget as focus during the quarter was re-allocated to lateral development to access the new mining areas in the Upper Country Lead Zone veins between 2400 and 2800 levels. This silver-lead area is expected to be in production in early May and increase production for the next several years.
• Mr. Jim Currie appointed as the Company’s Chief Operating Officer, effective May 6, 2024. Mr. Currie is an engineer with over 40 years of senior management, engineering, and operations experience. Mr. Currie has served as Chief Operating Officer of Equinox Gold Corp., Pretium Resources Inc. and New Gold Inc.
• The Company is in the documentation phase with a metal trader to provide concentrate prepayment financing for the entire capital requirement at its 100%-owned El Cajón and Zone 120 silver-copper project (“EC120 Project”) at the Cosalá Operations. The Company expects to close on this financing in Q2-2024 with the goal of producing higher-grade silver-copper concentrates at the beginning of 2025.

“The Company had a reasonable start to the year in terms of silver production and anticipates much stronger quarterly silver production for the remainder of the year. Silver production at the Galena Complex is expected to increase immediately with the completion of the development on the 2400 Level, followed by lateral development on both the 3700 Level and 4600/4900 Levels, which will expose new mining areas in the second half of the year. The increases from the Galena Complex, coupled with the expected EC120 silver-copper production from the Cosalá Operations at the beginning of 2025, coincides almost perfectly with the recent and expected further increase in silver and copper prices.” stated Americas President and CEO Darren Blasutti. “We are also very pleased that Jim Currie will join the Company as our new Chief Operating Officer. His wealth of experience and underground mining expertise is expected to have an immediate positive impact at the Galena Complex in terms of both production and profitability.”