Mr. Darren Blasutti reports

AMERICAS GOLD AND SILVER CORPORATION ANNOUNCES PRIVATE PLACEMENT OF UP TO C$6.5 MILLION

Americas Gold and Silver Corp. has entered into an agreement with Eight Capital, pursuant to which the Eight Capital has agreed to act as agent, on a best efforts basis, in connection with a private placement of up to 21,667,000 units of the company at a price of 30 cents per unit for gross proceeds of up to $6,500,100.

Each unit will comprise one common share of the company and one common share purchase warrant of the company. Each warrant will entitle the holder thereof to purchase one common share of the company at an exercise price of 40 cents per warrant share for a period of 36 months following the closing of the offering.

The net proceeds of the offering will be used for working capital requirements at the company's Cosala operations and Galena complex, in order to transition to additional silver-copper ore production at the company's operations in the United States and Mexico, and for general and administrative purposes.

The offering is expected to close on or about March 27, 2024, or such other date as the company and Eight Capital may agree, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the conditional listing approval of the Toronto Stock Exchange and the NYSE American Market.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions, the units will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. Because the offering is being completed pursuant to the listed issuer financing exemption, the securities issued to Canadian resident subscribers in the offering will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

About Americas Gold and Silver Corp.

Americas Gold and Silver is a high-growth precious metals 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, U.S., and is re-evaluating the Relief Canyon mine in Nevada, U.S. The company also owns the San Felipe development project in Sonora, Mexico.

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