Americas Gold and Silver Corporation Provides Q1-2024 Production Results; Appoints Jim Currie as Chief Operating Officer - Seite 2

“I am thrilled to join Americas Gold and Silver during this exciting silver growth period for the Company while corresponding silver, copper and zinc prices are all trending in a positive direction.” stated Jim Currie, Americas’ Chief Operating Officer. “The Galena Complex has tremendous potential to become one of the three largest primary silver producers in the United States over the next several years with not only substantial resource base on the balance sheet, but largely untapped exploration potential and excess milling capacity to grow silver production.”

Consolidated attributable silver production in Q1-2024 was approximately 482,000 ounces compared with approximately 500,000 ounces in Q1-2023. While Q1-2024 silver production was slightly down year-over-year and down quarter-over-quarter, the quarterly silver production has trended in a positive direction over the course of the last three years and the Company expects this trend to continue as noted in the chart. This upward trend in production is expected from increased working faces at the Galena Complex as well as the exploitation of EC120 at the Cosalá Operations which contains high-grade silver and copper mineralization.

The Cosalá Operations produced approximately 295,000 ounces of silver, 2.8 million pounds of lead and 8.0 million pounds of zinc in Q1-2024, compared with approximately 265,000 ounces of silver, 2.7 million pounds of lead and 7.2 million pounds of zinc in Q1-2023. Silver and zinc production increased by over 10% year-over-year while lead production was essentially unchanged.

With the current higher silver and copper price, the Company decided to expedite the development of its 100%-owned EC120 Project at the Cosalá Operations. Initial access to the Zone 120 deposit occurred in Q3-2023 from the San Rafael Upper Zone development. In addition, the Company continues mining and processing silver-zinc ore from the San Rafael Main and Upper Zones and is pleased with the increase in zinc prices so far in the second quarter.

The Company has an agreement in principle and is completing documentation with an international metal trader to provide concentrate prepayment financing options for the capital requirements at the EC120 Project. The Company expects to close on this financing in Q2-2024 and has the goal of completing the required development and preparations to be producing higher-grade silver-copper concentrates from the Project at the beginning of 2025.