Mr. Darren Blasutti reports

AMERICAS SILVER CORPORATION ANNOUNCES 2015 PRODUCTION AND COSTS, 2016 GUIDANCE AND U.S. $2.9 MILLION CREDIT FACILITY

Americas Silver Corp. has agreed in principle to terms for a $2.9-million (U.S.) subordinated credit facility with its two existing lenders and equity holders. Proceeds will be used for general corporate purposes, and to finance a restructuring and work force reduction at the company's two operating mines and its corporate office. Note that the company will change its Toronto Stock Exchange trading symbol from SPM to USA, effective Feb. 8, 2016.

Consolidated 2015 results and 2016 guidance

Consolidated silver production of 2.65 million silver ounces and 4.87 million silver equivalent ounces (1) met guidance for 2015. Silver equivalent production was at an all-time high, despite materially lower base metal prices in the second half of 2015. Silver all-in sustaining costs (2) met guidance at $17.16 per ounce, while silver cash costs (2) of $12.75 per ounce exceeded guidance by 2.0 per cent. Please see the table for details.

                         2014             2015        2015              2016
                   actual (3)         guidance      actual          guidance

Silver production   2.80M oz.     2.6-3.0M oz.   2.65M oz.      2.5-3.0M oz.
Silver equivalent                                                           
production          4.37M oz.     4.6-5.2M oz.   4.87M oz.      5.0-5.6M oz.
Silver cash                                                                 
costs (2)          $13.83/oz. $11.50-12.50/oz.  $12.75/oz.  $9.00-$10.00/oz.
Silver all-in                                                               
sustaining                                                                 
costs (2)          $21.15/oz. $16.50-17.50/oz.  $17.16/oz. $11.75-$12.75/oz.

Consolidated production of 2.5 million silver ounces to 3.0 million silver ounces and 5.0 million silver equivalent ounces to 5.6 million silver equivalent ounces is expected in 2016. Silver cash costs are projected to fall approximately 25 per cent year over year to between $9.00 per ounce to $10.00 per ounce, and silver all-in sustaining cash costs are projected to drop approximately 30 per cent year over year to $11.75 per ounce to $12.75 per ounce. Additional cost savings are anticipated due to labour reductions at both the Cosala operations and Galena complex, a material increase in lead production at the Galena complex year over year, and a favourable movement in the Mexican peso exchange rate against the United States dollar, offset by expected lower base metal prices. Despite using materially lower byproduct metal prices in this year's guidance, budgeted costs at the company's mines have been reduced by approximately 40 per cent on silver cash costs and 60 per cent on silver all-in sustaining cash costs since third-quarter 2012, when current management took over.

"Our strategic focus for the last several years has been to lower operating costs and improve productivity at both of our operating mines while transitioning the Galena complex from silver-copper to silver-lead production," said Darren Blasutti, president and chief executive officer of Americas Silver. "We also made substantial capital investments over the last two years, which will allow us to increase our silver-lead resource to a level that should maintain current production rates at Galena for the next seven to nine years. In addition, we had another steady year at the Cosala operations, and despite falling prices have once again extended the mine life at Neustra Senora. Management will continue to make the changes necessary to respond to the reduction in metal prices."

New credit facility

The company has agreed in principle to terms under a subordinated secured credit facility with its two existing lenders pursuant to which such lenders will advance a further $2.9-million (U.S.) to the company. The new credit facility is contemplated to have a 12-month term with interest to accrue from closing at 10 per cent per annum, payable quarterly in cash or shares (at the option of the lenders at the then market price and subject to Toronto Stock Exchange approval), with the principal balance due on maturity. The new credit facility will be subject to a negotiated intercreditor agreement between the company's existing lenders and rank in priority behind the roughly $6.1-million (U.S.) in senior secured notes and equally with the $1.0-million (U.S.) in junior secured notes. In connection with the new credit facility, the company has agreed, subject to TSX approval, to issue 30 million common share purchase warrants divided between the lenders with a term of three years and an exercise price of 10 cents and to adjust the exercise price of the existing 24,321,111 warrants already held by the lenders to 10 cents with all other terms to remain unchanged (4). The financing is expected to close shortly, in due course, and is subject to a number of conditions precedent, including, but not limited to, satisfactory completion and execution of definitive transaction documents and any required regulatory approvals.

Restructuring and work force reduction

As referenced above, a portion of the proceeds of the debt facility will be used to finance a restructuring and work force reduction. As part of this initiative, chief operating officer Robert Taylor will resign from his role at Americas Silver on Feb. 5, 2016. He will be replaced by Daren Dell, who currently serves as senior vice-president, technical services. In addition, all members of the company's board of directors have agreed to receive compensation in the form of deferred stock units rather than cash.

"While I deeply regret any job loss that will result from the restructuring and the impact this will have on the employees, given the current state of the resources industry, we have no choice but to do what we can to help preserve the company over the long term," stated Mr. Blasutti. "On behalf of the board of directors, I would like to thank Bob Taylor for his leadership and guidance over the last four years and for overseeing material cost reductions at both of our operating mines during very difficult times."

Exploration update

Galena complex

Exploration activity during fourth-quarter 2015 continued to focus on near-term minable resources and advancing mine operations toward the highest-value ore. A total of 1,315 metres of underground drilling was completed at the Galena complex, bringing year-to-date drilling to 8,223 metres, with silver-lead veins in the Upper Country silver-lead areas further defined and expanded. Data incorporated into the geological model are expected to increase silver-lead resources in the updated resource estimate due in March, 2016. In addition to improving the interpretation of the vein system between the 3,200 and 3,400 levels, silver-lead areas on the 4,300 level were also tested.

            GALENA COMPLEX -- DRILLING HIGHLIGHTS                               

                Start       End     Width        Ag        Pb
Hole No.          (m)       (m)   (m) (i)     (g/t)       (%)

3,200 level
32-048           10.5      11.9       1.4       226       5.3
                 29.0      29.9       0.9     1,508      10.5
                  2.6       3.5       0.9       176       4.6
32-047           15.1      15.3       0.9       198       8.8
                 55.0      56.8       1.8       279      13.7
32-050           60.3      62.0       1.7       332      15.9
                 63.0      66.7       3.7       332      17.9
3,400 level
34-194            9.1      10.6       1.5       336      13.0
                 23.6      25.6       2.0       233       8.5
                  0.0       1.2       1.2       481      19.2
34-195            7.0       8.7       1.6       494      15.5
                 21.0      23.5       2.4       336      13.9
4,300 level
43-166           86.0      86.9       0.9       168       9.9
43-166          105.5     106.7       1.2       264      17.3
43-167           51.1      53.1       2.0       214       7.7
43-169           61.0      65.5       4.6       185       7.1

(i) True width is estimated to be 70 per cent to 100 per cent 
of intersected width.           

Cosala operations

In total, 2,465 metres were drilled at the Nuestra Senora mine during the last quarter, with the focus on identifying and increasing mineral resources close to existing mine infrastructure. Upper-level drilling-supported targets were identified following a review of historical data. Although production above Level 8 has been relatively low since mining was restarted in 2007 (the mine had been dormant for several years prior to that), opportunities to return to the upper levels have been identified. At depth, drilling on Level 13 extended Main zone mineralization another 60 metres to Level 15, and modelling of this resource is under way.

On Jan. 20, 2016, the company received the final permit required from SEMARANT in order to start construction on the San Rafael project. Results of the prefeasibility study are expected in second-quarter 2016.

                  COSALA OPERATIONS -- DRILLING HIGHLIGHTS                                   

                 Start      End    Width       Ag       Cu       Pb       Zn
Hole No.           (m)      (m)  (m) (i)    (g/t)      (%)      (%)      (%)

Level 3                                                                     
NS3L15-04       160.15   166.24     6.09    268.1     0.82     0.84     1.47
Level 5                                                                     
NS5L15-01       373.15   373.77     0.62    205.0     1.58     8.17    11.60
Level 13                                                                    
NS13L15-77       62.70    63.35     0.65    519.0     1.54     0.91     0.04
                 70.25    75.25     5.00    141.0     0.51     0.40     2.87
NS13L15-78       46.55    47.30     0.75    112.0     0.01     0.27     0.32
                 66.40    69.80     3.40     89.5     0.41     0.14     0.45
NS13L15-79        0.00     3.00     3.00    255.5     0.04     0.38     0.11
NS13L15-80       69.14    70.60     1.46    298.0     3.01     5.72     4.63
                 78.00    79.05     1.05     80.0     0.47     1.26     1.72
NS13L15-81       50.60    53.50     2.90    114.4     0.51     0.22     1.13
                 65.80    70.15     4.35    645.9     5.25     2.23    13.08
                 75.10    75.50     0.40    739.0     4.60     2.05     2.65
NS13L15-83       76.39    76.81     0.42    519.0     4.55     1.77     1.48
                 79.20    79.73     0.53     68.0     0.82     0.11     2.81
NS13L15-84       43.95    47.15     3.20    273.0     1.23     0.89     4.91
                 66.10    67.55     1.45    359.0     3.52     1.91    12.20

(i) True width is estimated to be 60 per cent to 100 per cent of intersected 
width.           

(1) Silver equivalent figures for 2014 are based on $20.00 per ounce silver, 95 cents per pound lead, 90 cents per pound zinc and $3.00 per pound copper throughout this news release. Silver equivalent figures for 2015 are based on $17.00 per ounce silver, 90 cents per pound lead, 95 cents per pound zinc and $2.90 per pound copper throughout this news release. Silver equivalent figures and silver cost guidance for 2016 are based on $14.50 per ounce silver, 80 cents per pound lead, 75 cents per pound zinc and $2.00 per pound copper.

(2) Cash cost per ounce and all-in sustaining cost per ounce are non-IFRS (international financial reporting standards) financial performance measures with no standardized definition. For further information and detailed reconciliations, please refer to the company's 2014 year-end and quarterly management's discussion and analysis.

(3) Only production since Dec. 23, 2014, is included for Galena complex operations. Values for calendar year 2014 are presented for information purposes only.

(4) The warrants held by the current lenders were issued in connection with prior transactions, as described in the company's news releases dated Aug. 8, 2013, and Aug. 28, 2015, and Nov. 12, 2015.

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