Americas Gold and Silver Uncovers High-Grade Silver-Copper Extension at Galena Complex as Share Consolidation Takes Effect

• Americas Gold and Silver Corporation has identified a high-grade upper extension of the 149 Vein at its Galena Complex, with drill results showing 24,913 g/t silver and 16.9% copper over 0.21 meters.
• The exploration program has demonstrated nearly 120 meters of vertical continuity above the current mining level, with three holes completed out of a planned 18,100-meter drilling campaign.
• The company has completed a 2.5:1 share consolidation effective August 26, 2025, designed to strengthen capital structure and improve institutional investor accessibility.
• Current mining operations on the 149 Vein are producing 600-700 tons per cut with grades averaging 700-950 silver grams per ton and 0.6-0.7% copper.
• The vein extension represents potential near-term production enhancement opportunities as the company continues infill drilling and resource delineation programs.

Americas Gold and Silver Corporation (TSX: USA, NYSE American: USAS) operates as a growing North American precious metals producer with operations focused on extracting value from established mining complexes. The company's primary asset is the Galena Complex, where it conducts both production and exploration activities targeting high-grade silver-copper mineralization. The organization has positioned itself to capitalize on precious metals demand through operational efficiency improvements and strategic exploration programs designed to extend mine life and enhance mill feed quality.

High-Grade Discovery at 149 Vein Extension

Americas Gold and Silver has reported significant exploration success at the Galena Complex, where recent drilling has identified what appears to be a high-grade upper extension of the established 149 Vein. The discovery represents a potential expansion of the company's existing mining operations and could contribute to near-term production planning.

The exploration program, conducted from the 4300 Level using the 43-191 drill station, has yielded three notable intercepts that demonstrate the continuation of high-grade mineralization above current mining levels. The most significant result came from drill hole DDH 43-317, which intersected 24,913 g/t silver and 16.9% copper over 0.21 meters, representing exceptionally high-grade mineralization by industry standards.

Chairman and CEO Paul Andre Huet emphasized the significance of these results, stating:

"The identification of this high-grade copper-silver-antimony extension to the 149 Vein is an exciting development that builds on our ongoing success in unlocking additional value at the Galena Complex. With some extraordinary intercepts, including 24,913 grams per ton silver over 0.21 metres, and nearly 120 meters of vertical continuity demonstrated above the current mining level and exceptional grades in the intercepts, this extension positions us to potentially expand production from an already high-performing vein."

The exploration program has established nearly 120 meters of vertical continuity above the current mining level, suggesting substantial additional mineralization that could extend the productive life of the 149 Vein system. This vertical extent represents significant potential for resource expansion, particularly given the high-grade nature of the intercepts identified to date.

Technical Details & Geological Context

The recent drilling program has completed 4,878 meters of the planned 18,100-meter campaign, with ongoing work focused on testing multiple targets in addition to the 149 Vein extension. The geological interpretation suggests the recent intercepts are positioned near the upper crown of the 149 Vein system, located within the transition zone between the Upper Revett and St. Regis Formations of the Belt Supergroup.

The three drill holes completed to date have returned the following results:

• DDH 43-317: 24,913 g/t Ag and 16.9% Cu over 0.21 meters
• DDH 43-304: 2,816 g/t Ag, 2.0% Cu and 1.05% Sb over 1.05 meters
• DDH 43-316: 2,354 g/t Ag and 1.7% Cu over 1.58 meters

The presence of antimony (Sb) in the mineralization adds another valuable component to the resource, with results pending for holes 43-316 and 43-317. The geological setting and consistent high-grade results across multiple drill holes suggest a robust mineralized system with potential for continued expansion through additional drilling.

Current mining operations on the 149 Vein below these new intercepts are producing consistent high-grade mill feed of 600-700 tons per cut, with grades averaging 700-950 silver grams per ton and 0.6-0.7% copper. This existing production profile demonstrates the operational viability of the vein system and provides context for the potential contribution of the newly identified extension.

The 149 Vein is currently under review for long hole open stoping methods, which could improve extraction efficiency and reduce operating costs if implemented. The identification of the upper extension adds additional geological confidence to this mining method evaluation and could influence the ultimate extraction approach.

Share Consolidation Implementation

Concurrent with the exploration results, Americas Gold and Silver has completed its previously announced share consolidation on a 2.5:1 basis. Trading on a post-consolidation basis commenced with the opening of trading on August 26, 2025, with shareholders receiving one post-consolidation common share for every 2.5 pre-consolidation shares held.

CEO Huet explained the strategic rationale behind the consolidation:

"We are also pleased with the completion of the share consolidation, which represents a strategic move to strengthen our capital structure. By reducing the number of outstanding shares, the consolidation maintains shareholder value and opens the doors to institutional investors with minimum price thresholds. It also potentially unlocks access to margin accounts at certain brokerages."

The consolidation represents a capital structure optimization designed to improve the company's attractiveness to institutional investors, many of whom maintain minimum share price thresholds for investment consideration. Additionally, the higher post-consolidation share price could enable margin trading access at brokerages that maintain minimum price requirements for such facilities.

Huet referenced the company leadership's previous experience with similar transactions:

"Our leadership team successfully executed a 4.5-to-1 consolidation at Karora Resources in 2020, which saw the daily trading value triple over four years, demonstrating our experience with such initiatives, though past performance is not indicative of future results."

This historical reference provides context for the management team's approach to capital structure optimization, though the company appropriately notes that past performance does not guarantee future results.

Strategic Implications & Operational Integration

The identification of the 149 Vein extension aligns with Americas Gold and Silver's broader strategy of enhancing operational efficiency and mill feed quality at the Galena Complex. The high-grade nature of the newly identified mineralization could contribute to improved economics through higher recoverable metal content per ton processed.

Huet noted:

"It aligns with our targeted exploration strategy to enhance mill feed quality and operational efficiency, supporting our goals of increasing output and shareholder value."

The vertical continuity demonstrated by the drilling program suggests potential for systematic extraction that could be integrated with existing mining operations. The proximity to current workings could enable efficient access and development, potentially reducing the capital requirements for bringing the extension into production.

The ongoing drilling program, with over 13,000 meters remaining in the current phase, provides multiple opportunities for resource expansion and geological confirmation. The company's approach of testing multiple targets simultaneously could yield additional discoveries that further enhance the Galena Complex's resource base.

Resource Development & Future Outlook

The 149 Vein extension discovery occurs within an established mining complex with existing infrastructure, including processing facilities, underground access, and established operational systems. This infrastructure availability could facilitate relatively rapid development of newly identified resources compared to greenfield discoveries requiring comprehensive infrastructure development.

The company's focus on infill drilling and testing adjacent targets suggests a systematic approach to resource delineation that could support future production planning and reserve estimation. The high-grade nature of the initial results provides encouragement for continued exploration investment in the area.

The vein system remains open for expansion, with ongoing drilling focused on defining the extent of mineralization and identifying additional targets within the broader geological system. This exploration potential provides upside opportunity for further resource growth beyond the current discovery.

Capital Structure & Market Positioning

The completed share consolidation positions Americas Gold and Silver for potential improved market access and institutional investor consideration. The reduced share count, combined with operational improvements from discoveries like the 149 Vein extension, could contribute to improved trading dynamics and market perception.

The company's dual listing on both TSX and NYSE American provides access to both Canadian and U.S. capital markets, with the consolidation potentially enhancing attractiveness across both jurisdictions. The higher post-consolidation share price could improve institutional accessibility and margin trading availability.

Investment Considerations

For investors evaluating Americas Gold and Silver Corporation, the 149 Vein extension discovery represents a significant exploration success that could enhance the company's production profile and resource base. The exceptional grades identified, particularly the 24,913 g/t silver intercept, demonstrate the potential for high-value mineralization within the existing operational framework.

The completion of the share consolidation addresses capital structure optimization and could improve institutional accessibility, though investors should consider that consolidations alone do not create fundamental value. The success of the consolidation will ultimately depend on the company's ability to execute its operational and exploration strategies effectively.

The ongoing exploration program, with substantial drilling remaining, provides multiple opportunities for additional discoveries and resource expansion. The systematic approach to testing multiple targets could yield further positive results that enhance the investment thesis.

Investors should consider that while the initial drilling results are highly encouraging, the program remains in early stages with substantial work required to fully define the resource potential. The company's established operations provide a foundation for development, but successful integration of new discoveries into production plans will be critical for realizing value from the exploration success.

The precious metals sector's cyclical nature and commodity price sensitivity should factor into investment decisions, as operational success must align with favorable market conditions to optimize returns. Americas Gold and Silver's focus on high-grade resources positions it to benefit from precious metals price appreciation while providing some protection during weaker commodity price environments.