Americas Gold & Silver Reports High-Grade Exploration Results at Galena, Including 983 g/t Silver Over 3.4m

• Exploration drilling identified high-grade 034 Vein at Galena Complex with highlight intercept of 983 g/t silver over 3.44 meters
• The 034 Vein has been defined over 90 meters of strike length and 100 meters vertical extent, remaining open in both directions
• Preliminary estimates suggest an exploration target of 100-120k tonnes at 311-467 g/t silver and 0.31-0.40% copper
• Tara Hassan, a mining industry veteran with 20 years of experience, has been appointed to the Board of Directors
• Equipment upgrades are progressing with delivery of new trucks and loaders to improve underground material movement

Americas Gold & Silver Corporation (TSX: USA, NYSE American: USAS) is an emerging precious metals mining company with strategic assets in North America. The company owns and operates the Cosalá Operations in Sinaloa, Mexico, and recently acquired 100% ownership of the Galena Complex in Idaho, USA through a transaction with Eric Sprott affiliates and a management team led by Paul Huet in December 2024. This acquisition has positioned Sprott as the company's largest shareholder with approximately 20% interest. Americas Gold and Silver is strategically focused on becoming a leading North American silver producer, with an ambitious target of generating over 80% of its revenue from silver by the end of 2025.

Significant Discovery at Galena Complex

The recent exploration drilling program at the Galena Complex has yielded impressive results, highlighting the continued prospectivity of this historic mining district. The newly discovered high-grade 034 Vein represents a significant opportunity for Americas Gold & Silver, as it is located adjacent to existing infrastructure and presents near-term mining potential. Paul Huet, Chairman & CEO of Americas Gold & Silver commented: 

"The recent discovery of the high-grade 034 Vein is a strong example of the continued prospectivity within our Galena mine Complex. The 034 Vein has continued to grow in both strike and depth with ongoing drilling efforts outlining a high-grade silver, copper and antimony zone."

The exploration program was conducted from the 5200 Level of the Galena Mine, where the 034 Vein was initially crosscut and drifted. A comprehensive exploration drill plan was implemented, resulting in 23 additional diamond drill holes being completed in the latest phase, with two holes still being logged and assayed.

Impressive High-Grade Results

The drilling campaign has produced several high-grade intercepts that demonstrate the significant potential of the 034 Vein. The highlight intercept was 983 g/t silver over 3.44 meters (true width) in hole DDH 52-583. Other notable intercepts include:

• 1,624 g/t silver and 1.23% copper over 0.53 meters (DDH 52-529)
• 1,171 g/t silver and 0.80% copper over 1.46 meters (DDH 52-532)
• 734 g/t silver and 0.90% copper over 0.87 meters (DDH 52-531)
• 539 g/t silver and 1.07% copper over 1.69 meters (DDH 52-587)
• 466 g/t silver and 0.49% copper over 0.47 meters (DDH 52-534)
• 354 g/t silver and 0.43% copper over 2.15 meters (DDH 52-584)

These results are particularly encouraging for the company's growth strategy, as they confirm the presence of high-grade silver-copper mineralization in proximity to existing mine infrastructure.

Resource Potential & Mining Opportunities

Based on the information gathered from 40 drill intercepts, the 034 Vein has been defined over a strike length of more than 90 meters with potential economic continuity from above the 5200 Level to the 5500 Level, representing a vertical extent of 100 meters. Importantly, the vein remains open both up-dip and at depth, suggesting potential for further expansion through additional exploration.

Preliminary estimates indicate an exploration target of 100-120,000 tonnes grading 311-467 g/t silver and 0.31-0.40% copper, potentially containing 1.2-1.5 million ounces of silver and 750-800 thousand pounds of copper. The company notes that additional mineralization is present in both the hanging wall and footwall of the 034 Vein.

These estimates are based on the 23 recent drill holes that have contributed to the modeling of the vein and its potential volume. The company's extensive geological knowledge of the Galena Complex and its silver-copper vein systems has enabled the estimation of the stated grade ranges.

It's worth noting that the potential quantity and grade of the exploration target are conceptual in nature, and there has been insufficient exploration drilling conducted to define a Mineral Resource. The company acknowledges that it remains uncertain whether further exploration drilling will result in the exploration target being delineated as a Mineral Resource.

Strategic Location & Development Potential

One of the most promising aspects of the 034 Vein discovery is its strategic location relative to existing mine infrastructure. The vein is crossed by current development on the 5200 and 5500 Levels, presenting multiple mining opportunities that are being evaluated for inclusion in the 2025 mine plan.

The proximity to existing infrastructure significantly reduces the capital requirements and timeline for bringing this new zone into production, aligning perfectly with the company's strategic focus on increasing production through targeted exploration drilling while improving productivities and materials handling capacity throughout the mine.

Coeur Mine Exploration Plans

In addition to the recent success at the 034 Vein, Americas Gold & Silver has awarded a drilling contract to infill existing wide-spaced drilling at the Coeur Mine. This drilling is scheduled to begin in early May 2025, targeting three veins below the 3400 Level.

The Coeur Mine, which was developed down to the 3700 Level, has seen limited mining despite wide-spaced drilling that has intersected significant silver and copper mineralization in veins 356, 400, and 425. These four primary copper-silver veins remain open at depth, highlighting the potential for future resource growth.

Historical drilling at the Coeur Mine has returned impressive intercepts, including:

• 4,131 g/t silver and 5.0% copper over 0.32 meters (DDH C034-113, Vein 400)
• 1,982 g/t silver and 3.2% copper over 1.37 meters (DDH C037-039, Vein 356)
• 1,179 g/t silver and 0.9% copper over 1.18 meters (DDH C034-090, Vein 425)
• 1,001 g/t silver and 1.1% copper over 0.73 meters (DDH C034-127, Vein 425)
• 903 g/t silver and 1.0% copper over 2.54 meters (DDH C034-117, Vein 400)

These historical results underscore the significant exploration potential that exists within the company's property portfolio, particularly at the Coeur Mine.

Board Strengthened with Appointment of Tara Hassan

Americas Gold & Silver has also announced the appointment of Tara Hassan to its Board of Directors, further strengthening its leadership team. Ms. Hassan brings 20 years of mining industry and capital markets experience in corporate and operational leadership and equity analysis.

Ms. Hassan's impressive background includes serving as a director of Orezone Gold since 2024 and previously as Senior Vice President, Corporate Development for SilverCrest Metals from 2020 to 2025. At SilverCrest, she played a leading role in the mine financing and the US$1.5 billion sale of the company to Coeur Mining Inc.

She also served as Vice Chair of the Association for Mineral Exploration (AME) from 2018 to 2024 and as a director of Maverix Metals from 2020 to 2023. Her career also includes over 13 years as a highly ranked precious metals equity research analyst at prominent Canadian investment dealers.

Ms. Hassan's mining engineering background is equally impressive, having begun her career with Inco Limited and Placer Dome, where she gained extensive experience in underground and open pit mining operations. She is a Professional Engineer (Ontario) and holds a Bachelor of Science degree in Mining Engineering from Queen's University in Kingston, Ontario.

Paul Huet expressed enthusiasm about this appointment, stating, "We are delighted to welcome Tara Hassan to our Board of Directors and look forward to her contributions to the Company. Tara is well recognized for her success and is an experienced leader in the mining industry."

Equipment Upgrades to Improve Operational Efficiency

Americas Gold & Silver is making significant progress in upgrading its mining fleet to improve material movement underground. The company has received a delivery of two 20-tonne trucks and three new LHDs (two 4-yard and one 2-yard) at the Galena site, representing one of several planned equipment upgrades for 2025.

This mobile equipment is being disassembled to be taken down the No. 3 shaft, after which it will be reassembled and deployed to mining fronts. This upgrade represents a significant step forward in the company's strategy to improve efficiencies, reduce costs, and boost underground mining tonnage. Huet stated:

"I am encouraged by our rapid progress in upgrading our mining fleet to improve material movement underground. This is a big step forward for Galena and our strategy to improve efficiencies, reduce costs and boost tonnes mined underground."

The Investment Thesis for Americas Gold & Silver

The investment case for Americas Gold & Silver is strengthened by several key factors highlighted in this recent news release:

• High-Grade Discovery Potential: The discovery of the high-grade 034 Vein demonstrates the significant exploration upside that exists within the company's property portfolio. With grades averaging between 311-467 g/t silver, this new zone has the potential to significantly improve the overall grade profile of the operation.
• Near-Term Production Growth: The strategic location of the 034 Vein adjacent to existing infrastructure presents an opportunity for rapid development and incorporation into the mine plan, potentially leading to near-term production growth without significant capital expenditure.
• Experienced Leadership: The appointment of Tara Hassan to the Board of Directors adds valuable mining industry and capital markets expertise that will benefit the company as it executes its growth strategy. Her experience with successful mining companies and corporate transactions is particularly relevant as Americas Gold & Silver positions itself as a leading North American silver producer.
• Operational Improvements: The ongoing equipment upgrades demonstrate management's commitment to improving operational efficiency and reducing costs. The new trucks and loaders will enhance material movement capacity, potentially leading to increased production rates and improved operating margins.
• Strategic Focus on Silver: The company's clear strategic direction to generate over 80% of its revenue from silver by the end of 2025 positions it as a focused precious metals producer with significant leverage to silver prices. This focus may be particularly attractive to investors seeking exposure to silver in a tightening supply environment.
• Backing of Major Mining Investor: Eric Sprott's significant ownership stake (approximately 20%) provides validation of the company's assets and strategy from one of the mining industry's most successful investors.
• Resource Growth Potential: Beyond the 034 Vein, the planned exploration program at the Coeur Mine targeting the high-grade veins 356, 400, and 425 presents additional opportunities for resource expansion and future production growth.
• North American Jurisdiction: With assets in Idaho, USA, and Sinaloa, Mexico, the company operates in mining-friendly jurisdictions with established infrastructure and access to skilled labor, reducing operational risk compared to companies operating in less stable regions.

For investors seeking exposure to silver with near-term catalysts, Americas Gold & Silver offers a compelling investment proposition. The combination of high-grade discovery potential, operational improvements, and strategic focus on becoming a leading North American silver producer positions the company for potential value creation as it executes its growth strategy in 2025 and beyond.