Mr. Paul Huet reports

AMERICAS GOLD AND SILVER COMPLETES FIRST PHASE OF UPGRADES ON GALENA NO. 3 SHAFT AHEAD OF SCHEDULE DELIVERING 100% PRODUCTIVITY IMPROVEMENT

Americas Gold and Silver Corp. has completed phase 1 upgrades to increase the hoisting capacity of the No. 3 shaft at its 100-per-cent-owned Galena complex, located in Wallace, Idaho. The phase 1 upgrade, completed ahead of schedule, is part of a planned two-phase upgrade project on the No. 3 shaft and a key component of the company's ambitious production growth strategy at the Galena complex. The phase 1 upgrade was completed during a 10-day shutdown period, four days shorter than planned.

Paul Andre Huet, chairman and chief executive officer, commented: "I am very pleased to announce that the first phase of the Galena No. 3 shaft upgrade has been completed ahead of schedule, which is a tremendous outcome for our operations. I would personally like to thank and congratulate our team on a very successful upgrade period, which was completed in just 10 days versus a planned 14 days.

"During the due diligence period prior to the new management team joining Americas, our team recognized the potential to substantially increase production from the Galena complex and identified shaft upgrades as a critical element to our success. Upon completion of the upgrades on the motor, lilies, brakes and introducing hoist-control automation, we expect to increase skipping times from the current 690 feet per minute to approximately 1,200 to 1,400 feet per minute and increase our skipping capacity from approximately 40 tons per hour to approximately 100 tons per hour. I am very excited to say that, in just our first few days of operating the upgraded hoist, we have already reached 80 tons per hour, which is a 100-per-cent improvement on our existing skipping capacity. This will enable us to move a significantly larger amount of tons from our operation while we continue to set up the mine for increased long hole stoping next year. Very importantly, we now have a spare 2,250-horsepower hoist motor for our primary No. 3 shaft for the first time, providing critical backup capacity and derisking our mine plan.

"The Galena team continues to execute on our overall strategy of increasing the safety and efficiency of the Galena mine by delivering projects ahead of plan and under budget while continuing to operate the mine safely and hit our production targets. We look forward to updating our stakeholders on the second phase of the No. 3 shaft upgrades before the end of the year."

Galena No. 3 shaft upgrade project

The No. 3 shaft upgrade project is expected to increase hoisting capabilities from approximately 40 tons per hour of material to 100 tph. These upgrades will remove a key bottleneck and boost overall mine productivity and cost-efficiencies by the end of 2025. In the first few days of operating the new hoist, the first phase has enabled an increase to 80 tons per hour of material movement.

Highlights completed during phase 1 of the two-phase project included:

• Upgraded the No. 3 hoist motor from 1,750 hp to 2,250 hp, enabling full skips to be pulled from the deepest level in the mine (5600L) -- a substantial improvement over the prior capacity of half- to three-quarter-full skips;
• Installed a second 2,250-horsepower spare motor, significantly derisking operations by providing backup capacity;
• Installed weight measuring systems on the skips, which will optimize hoisting efficiencies.

Phase 2 upgrades are scheduled to begin before the end of the year with a planned duration of approximately 10 days and will include:

• Upgrading the hoist pads (lilies) and braking system to increase creep times in loading and dump zones;
• Installing a new hoisting control console with advanced technology that will accommodate additional hoist automation in the future;
• Deploying an antenna system, known as a leaky feeder in the No. 3 shaft, to improve in-mine communications and support automation upgrades.

About Americas Gold and Silver Corp.

Americas is a growing precious metal mining company with multiple assets in North America. In December, 2024, Americas increased its ownership in the Galena complex (Idaho, United States) from 60 per cent to 100 per cent in a transaction with Eric Sprott, solidifying its position as a silver-focused producer. Americas also owns and operates the Cosala operations in Sinaloa, Mexico. Mr. Sprott is the company's largest shareholder, holding an approximately 20-per-cent interest. Americas has a proven and experienced management team led by Mr. Huet, is fully financed to execute its growth plans, and is focused on becoming one of the top North American silver plays, with an objective of over 80 per cent of its revenue to be generated from silver by the end of 2025.

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