Mr. Darren Blasutti reports

AMERICAS GOLD AND SILVER CORPORATION ANNOUNCES UPSIZE OF PRIVATE PLACEMENT TO UP TO C$7.5 MILLION

Americas Gold and Silver Corp. has entered into an amending agreement with Eight Capital, as agent, to upsize the previously announced private placement. In connection with the upsized offering, the company will issue up to 25 million units of the company at a price of 30 cents per unit for aggregate gross proceeds of up to $7.5-million. In addition, the company and Eight Capital have agreed that Eight Capital shall be granted an option to sell an additional one million units for additional gross proceeds of up to $300,000.

Each unit will be composed of 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 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): (i) up to 21,667,000 units under the offering 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 National Instrument 45-106 for gross proceeds of up to $6,500,100; and (ii) any additional units under the offering will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to other exemptions under NI 45-106 and in accordance with other applicable securities laws. The LIFE units (including the common shares, warrants and any warrant shares underlying such LIFE units) issued to Canadian resident subscribers in the offering will not be subject to a hold period pursuant to applicable Canadian securities laws. The non-LIFE units (including the common shares, warrants and any warrant shares underlying such non-LIFE units) will be subject to a hold period pursuant to applicable Canadian securities laws expiring four months and one day from the date of issuance of such non-LIFE units.

There is an offering document related to the LIFE units issuable under the offering that can be viewed under the company's profile at SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision in any LIFE units.

About Americas Gold and Silver Corp.

Americas Gold 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.