Mr. Darren Blasutti reports

AMERICAS GOLD AND SILVER CORPORATION ANNOUNCES CLOSING OF FINANCINGS

Americas Gold and Silver Corp. has closed its offering as previously announced in its press releases dated March 20, 2024, and March 21, 2024, for total aggregate gross proceeds of $7.8-million.

The company entered into an agency agreement with Eight Capital, as sole agent and bookrunner, under which the company sold, on a brokered basis, 21,667,000 units of the company at 30 cents per unit under the listed issuer financing exemption (the LIFE offering) and one million units at 30 cents per unit in a concurrent private placement, under other prospectus exemptions, which included the fully exercised agent's option under the agency agreement. Additionally, the company issued 3,333,000 units at 30 cents per unit on a non-brokered private placement basis.

Each unit comprises one common share of the company and one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share at an exercise price of 40 cents per warrant share for a period of 36 months following the closing of the offering. The offering remains subject to the final acceptance of the Toronto Stock Exchange.

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 document related to the LIFE offering can be accessed under the company's profile on SEDAR+ and on the company's website.

About Americas Gold and Silver Corp.

Americas Gold and Silver 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.

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