Mr. Darren Blasutti reports

AMERICAS GOLD AND SILVER CORPORATION ANNOUNCES ELECTION OF DIRECTORS AND ANNUAL MEETING VOTING RESULTS; ISSUANCE OF C$8.0 MILLION SECURED CONVERTIBLE DEBENTURE

The nominees listed in the management proxy circular dated May 11, 2023, for the company's annual and special meeting of shareholders held June 20, 2023, were elected as directors of Americas Gold and Silver Corp. at the meeting. Detailed results of the vote for the election of directors held at the meeting yesterday in Toronto, as well as the results for other matters voted on at the meeting, are set out herein.

             VOTING RESULTS FOR ELECTION OF DIRECTORS

Nominee              Votes for   % for    Votes against   % against

Darren Blasutti     83,459,219   95.40%       4,019,684        4.60%  
Christine Carson    85,427,912   97.66%       2,050,991        2.34%  
Alex Davidson       85,343,164   97.56%       2,135,739        2.44%  
Alan Edwards        85,469,357   97.70%       2,009,547        2.30%  
Bradley Kipp        85,475,355   97.71%       2,003,549        2.29%  
Gordon Pridham      85,468,708   97.70%       2,010,196        2.30%  
Manuel Rivera       85,467,934   97.70%       2,010,970        2.30%  
Lorie Waisberg      71,501,919   81.74%      15,976,985       18.26%  

In addition, the company's shareholders passed a resolution to appoint PricewaterhouseCoopers LLP as auditor of the company for the ensuing year and authorizing the directors to fix its remuneration.

The results of these matters considered at the meeting are reported in the report of voting results as filed on SEDAR on June 21, 2023. A total of 106,472,153 of the company's common shares were voted, representing 50.36 per cent of total shares issued and outstanding as at the record date for the meeting.

Additional convertible financing

The company has issued an additional $8.0-million senior secured convertible debenture to certain subsidiaries of Delbrook Capital Advisors Inc. Delbrook Capital is one of the largest holders of common stock of the company.

The Delbrook debenture financing will be issued in two tranches: (i) $3.0-million financed as of the date hereof; and (ii) $5.0-million to be financed in the coming days subject to conditions precedent regarding registering Mexican security and confirmatory due diligence. The Delbrook debenture bears interest at a rate of 11 per cent per annum and has a maturity date of July 1, 2024, that can be extended by mutual consent to April 28, 2025. The principal amount outstanding under the Delbrook debenture is convertible in certain instances at the holder's option (subject to Toronto Stock Exchange approval) into common shares of Americas at a conversion price of 80 cents per share. The company's existing debentures have a current outstanding principal amount of $16.3-million and will be amended with the same terms as the Delbrook debenture. The Delbrook debenture and the existing debentures are secured by the company's interest in the Galena complex and by the shares of one of the company's Mexican subsidiaries.

As part of the agreement, the company has also agreed to issue 3.5 million share purchase warrants with an exercise price of 80 cents per common share and a term of three years to Delbrook Capital.

In addition, in support of the financing, certain members of the company's board and management have agreed to participate in a private placement for common shares of the company for an aggregate minimum amount of $500,000.

The proceeds are being raised to finalize construction of the Galena hoist and for general working capital purposes.

About Americas Gold and Silver Corp.

Americas is a high-growth precious metal mining company with multiple assets in North America. The company owns and operates the Cosala operations in Sinaloa, Mexico, manages the 60-per-cent-owned Galena complex in Idaho, United States, and is re-evaluating the Relief Canyon mine in Nevada, United States. The company also owns the San Felipe development project in Sonora, Mexico.

We seek Safe Harbor.