Americas Gold and Silver Provides Update on Relief Canyon

Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), is pleased to provide an update on the continued successful ramp-up of the Relief Canyon mine in Nevada as it progresses towards commercial production.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201014005343/en/

Figure 1: 5-day trailing average pregnant solution grade since August 12, 2020 (Photo: Americas Gold and Silver)

Highlights

• Pregnant solution grade has increased over 400% since August 2020.
• With ore leaching well, the resulting increase expected from the return of the repaired radial stacker in the first week of November is the only remaining requirement to reach commercial production at the mine.
• Commercial production remains targeted for Q4-2020.

“The pregnant solution grade has consistently increased since August which has further boosted our confidence of declaring commercial production in Q4-2020,” stated Americas President and CEO Darren Blasutti. “With the return of our radial stacker in early November, the operation will be able to double the daily stacking rate and significantly increase the amount of ore under leach and daily gold production. With the increased pregnant solution grade and stacking rate, we expect the Relief Canyon mine to start generating meaningful sustainable free cash flow.”

In early August 2020, the Company began stacking higher-grade ore sourced from more continuous mineralization of the Main Zone and applied revised and improved operating practices as greater knowledge was gained about the orebody. As demonstrated in Figure 1, the Company is pleased to report that the pregnant solution grade from the pad has significantly increased and modelled leach recovery is trending towards feasibility levels.

Figure 1 shows the 5-day trailing average pregnant solution grade feeding the ADR plant. Gold production will continue to increase as more ore is stacked and the area under irrigation expands.

The Company expects the large radial stacker to be back at site in early November, which will increase daily production from approximately 8,000 tons per day to the targeted 16,000 tons per day. Following the failure of the large radial stacker, it has been determined that the failure was due to a steel quality issue and not operator error or manufacturer defect. The increased stacking rate will allow the operation to accelerate the amount of material placed on the leach pad, increase the area under leach and increase daily gold production.