Americas Gold & Silver Reports High-Grade Drill Results at Cosalá, with Key Intercepts Running 2 to 5 Times Current Resource Grades

• Americas Gold & Silver has reported high-grade infill drill results from the Cosalá Complex in Sinaloa, Mexico, with drilling conducted from the fourth quarter of 2025 through the first quarter of 2026 across three zones.
• Highlight intercepts include 599.8 grams per tonne silver and 0.8% copper over 14 metres at the San Rafael Upper zone, and 509.7 grams per tonne silver and 0.4% copper over 10 metres from the same zone.
• Results from the San Rafael Upper and 120 zones are averaging 2 to 3 times the previously reported inferred mineral resource grades, with one intercept returning more than 5 times the modelled silver grade for that section.
• All 14 reported drill holes are directly adjacent to existing mine infrastructure and were completed after the October 31, 2025, mineral resource cutoff date, meaning they are not captured in the company's Mineral Resource and Reserve statement.
• The company is targeting the incorporation of these results into an optimised mine plan for the second half of 2026, as part of what management describes as the most aggressive drilling campaign in company history.

About Americas Gold & Silver 

Americas Gold & Silver Corporation (TSX: USA | NYSE American: USAS) is a North American precious metals and antimony producer operating the Cosalá Complex in Sinaloa, Mexico, and the Galena Complex and Crescent Mine in the Coeur d'Alene Mining District of Idaho. The company acquired full ownership of the Galena Complex in December 2024 and the Crescent Silver Mine in December 2025.

Drill Results Exceed Modelled Resource Grades Across Three Zones

Infill drilling at the Cosalá Complex has returned silver grades substantially above the currently modelled mineral resource across the San Rafael Upper, 120 Upper, and 120 Lower zones. The company states that the 14 reported drill holes have not only confirmed the modelled thickness of the mineral resource but also represent a potential substantial increase in average silver grades relative to the 2026 reported mineral resource grades.

The headline intercept at the San Rafael Upper zone returned 599.8 grams per tonne silver and 0.83% copper over 14 metres, compared to a modelled silver grade of approximately 110 grams per tonne for that section of the mineral resource - representing more than 5 times the modelled grade for that area. A second high-grade intercept from the same zone returned 509.7 grams per tonne silver and 0.43% copper over 10 metres. At the 120 Lower zone, notable results include 388.0 grams per tonne silver and 0.98% copper over 33.7 metres, and 342.9 grams per tonne silver and 0.85% copper over 45.0 metres. The company describes these results as representing significant upside potential to the future mine plan. All intercepts are reported as estimated true widths.

Results Not Included in Current Mineral Resource & Reserve Statement

The 14 reported drill holes were completed after the October 31, 2025, mineral resource cutoff date and are therefore not included in the company's Mineral Resource and Reserve statement released on March 30, 2026. This represents significant upside potential, as these results were reported after the cutoff date and not captured in the current statement.

Drilling at the San Rafael Upper zone has consistently returned grades averaging 2 to 3 times the previously reported inferred mineral resource grades. The 120 Upper and 120 Lower zones have similarly returned grades above modelled levels, with 120 Lower intercepts spanning widths of up to 45 metres at grades above 340 grams per tonne silver. All reported drill intercepts are directly adjacent to existing infrastructure and are currently being incorporated into an optimised mine plan heading into the second half of 2026.

Proximity to Existing Infrastructure

All reported drill intercepts are directly adjacent to existing mine infrastructure at the Cosalá Complex. 

Chairman and Chief Executive Officer of Americas Gold & Silver, Paul Andre Huet, commented:

"These excellent drill intercepts are immediately adjacent to existing mine infrastructure, and we are looking forward to incorporating these results into our optimised mine planning process as we move into H2 2026."

2026 Drilling Program

The Cosalá results are part of Americas Gold & Silver's ongoing resource conversion drilling program. It is on track to complete the most aggressive drilling campaign in its history in 2026, spanning its Mexican and the US.

Huet commented on the program:

"The company is on track to complete the most aggressive drilling campaign in company history in 2026, and today's results further highlight the incredible potential remaining to be unlocked with the drill bit at each of our operations."

The 14 holes reported represent drilling conducted from the fourth quarter of 2025 through the first quarter of 2026. Additional results from the 2026 campaign have not yet been disclosed.

Next Steps

Americas Gold & Silver states that the Cosalá drill results are currently being incorporated into an optimised mine plan heading into the second half of 2026. The company has not specified a disclosure date for the revised mine plan or any updated Mineral Resource and Reserve statement incorporating post-October 2025 drilling results.

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