Galena Complex Positioned For Full Operational Potential

TORONTO - Paul Andre Huet, Chairman and CEO of Americas Gold and Silver Corporation, said, “We have an excellent platform from which to build substantial shareholder value. We have the people, assets, and financial strength to succeed.

The consolidation of the Galena Complex in Idaho’s prolific Silver Valley region is a major milestone for Americas Gold and Silver. The Galena consolidation not only increased the Company’s ownership of the asset to 100%, but it also aligned the interests of our shareholders with the addition of legendary mining investor Eric Sprott as the Company’s single largest shareholder with a 20%+ interest. In my view, Sprott’s willingness to convert his 40% interest in Galena into shares of the Company demonstrates his confidence in the value creation potential we have in front of us.

To further strengthen our balance sheet and to support growth related capital investments, we are in advanced discussions regarding a debt financing facility with a preferred lending partner. Increased financial flexibility will be a key pillar of our turnaround plans at the Galena Complex. Since the closing of the consolidation transaction late last year, we have reduced liabilities by over US$35 million, placing us in a much stronger position as we execute our strategy. At the operations, we have been working diligently at developing our redesigned operating plans across the business and in the coming weeks we will be providing full year 2025 consolidated production guidance to the market, outlining our plans this year at both Galena and Cosalá.

I am proud to be leading our revitalized senior management with a proven track record of turning around operations and maximizing value for shareholders. New senior leadership at our Galena operations is already in place and the detailed evaluation of the path towards increasing mining rates and hoisting capacity to take full advantage of existing mill capacity is well underway. Galena has substantial infrastructure already in place to exploit a large Mineral Resource; an excellent starting point to bring the operation towards its full potential as a very profitable and long-lived cornerstone asset.

I have been very pleased with our team running our Cosalá operations. Our team has demonstrated a strong commitment to safe and profitable production, delivering strong operating results of over 2.5 million silver equivalent ounces in 2024 at a cash cost of US$17.41 per ounce and an AISC of US$28.13 per ounce. We expect to see increased production and lower costs at Cosalá in 2025 as we develop into the higher-grade silver – copper ore in the EC120 mine, where we expect to reach full production later this year. We look forward to continued production growth and lower costs at Cosalá as we execute our multi-year plan for the operation.

We are also very happy to announce the appointment of Rob Buchanan as Vice President, Sustainability and Communications. Rob was a key driver of our sustainability and communication strategies throughout many successful years at Karora, and we are looking forward to developing our sustainability action plan at Americas over the course of this year.

Overall, I am very excited as I embark on my first full year leading the Americas Gold and Silver team. With 2024 in the rear-view mirror, 2025 will be a year of investment into our flagship Galena mine as we lay the foundations for future growth, and I look forward to unlocking the massive potential across our asset base for our shareholders in what is certainly a positive silver price environment.”