Americas Gold & Silver Reports 665,000 Ounces of Silver Production in Second Quarter 2026

• Americas Gold & Silver produced 664,971 ounces of Silver during the second quarter of 2026 and sold 624,343 ounces, with consolidated Silver equivalent production totalling 800,735 ounces.
• Galena produced 327,701 ounces of Silver, while Cosalá produced 337,270 ounces, resulting in balanced production across the company's two operating mines.
• Consolidated production also included 2.3 million pounds of lead, 850,088 pounds of copper and 97,213 pounds of antimony during the quarter.
• The company reported an unaudited cash balance of US$89 million as of June 30, 2026, as it continued investing in its revitalisation and growth plan and completed previously announced agreements to remove variable future debt obligations.
• Americas Gold & Silver maintained its 2026 production guidance of 3.2 to 3.6 million ounces of Silver at all-in sustaining costs of US$30 to US$35 per ounce, with production targeting a stronger second half of the year.

Company Overview

Americas Gold & Silver Corporation (TSX: USA | NYSE American: USAS) is a North American precious metals and antimony producer with operations in the United States and Mexico. The Company owns 100% of the Galena Complex in Idaho, the largest antimony mine in the United States, and the fully permitted, past-producing Crescent Silver Mine, located 9 miles from Galena. Americas Gold & Silver also owns and operates the Cosala Operations in Sinaloa, Mexico. The company formed a 51/49 joint venture (JV) with US Antimony in February 2026 to build a new antimony processing hub at Galena.

Q2 Production Results

Americas Gold & Silver produced 664,971 ounces of Silver during the second quarter of 2026 and sold 624,343 ounces. Total consolidated Silver equivalent production reached 800,735 ounces, while Silver equivalent sales totalled 752,120 ounces.

In addition to Silver production, the company produced 2,276,229 pounds of lead, 850,088 pounds of copper and 97,213 pounds of antimony during the quarter. The company reported an unaudited consolidated cash balance of US$89 million as of June 30, 2026, stating the balance was in line with expectations as capital continued to be deployed toward its revitalisation and growth plan.

Performance by Operation

The Galena Complex produced 327,701 ounces of Silver during the quarter and generated 400,654 silver-equivalent ounces. The operation also produced 2,276,229 pounds of lead, 148,944 pounds of copper and 97,213 pounds of antimony.

The Cosalá Operations produced 337,270 ounces of Silver and 400,081 silver-equivalent ounces during the quarter, together with 701,144 pounds of copper. Combined production from Galena and Cosalá resulted in consolidated Silver production of 664,971 ounces.

Following the completion of Phase 2 of the No. 3 Shaft modernisation program late in the quarter, the Company reported achieving a record 125 skips hoisted during a 12-hour period in July. The combined Phase 1 and Phase 2 upgrades increased total hoisting capacity by approximately 150% and increased skipping payloads by 40%.

Operational Highlights

Chairman and Chief Executive Officer Paul Andre Huet stated that second quarter Silver production was 15% lower than the first quarter, partially due to an electrical fire at the Galena Complex that temporarily interrupted production and deferred access to a planned high-grade stope into the third quarter.

The company stated that first half 2026 Silver production totalled 1.5 million ounces, which it said was in line with its 2026 budget. Production is weighted toward the second half of the year as operations continue to ramp up at the Galena Complex. The company also stated it eliminated more than US$85 million of variable future debt obligations during the quarter through the termination of Silver delivery obligations and settlement of Gold delivery obligations previously announced on June 11, 2026.

Next Steps

Americas Gold & Silver is targeting full-year 2026 Silver production of 3.2 to 3.6 million ounces at all-in sustaining costs of US$30 to US$35 per ounce. The company stated production is targeting a stronger second half of 2026 as underground mining rates increase following completion of the No. 3 Shaft modernisation program at the Galena Complex.

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