Mr. Paul Huet reports

AMERICAS GOLD AND SILVER DELIVERS A 98% INCREASE IN QUARTERLY SILVER PRODUCTION AS PART OF STRONG Q3 2025 OPERATING RESULTS

Americas Gold and Silver Corp. had consolidated silver production of 765,000 ounces for the third quarter of 2025, an increase of 98 per cent compared with 386,000 attributable ounces produced in the third quarter of 2024 and an 11-per-cent increase compared with 689,000 ounces in the second quarter of 2025. Lead production was 2.3 million pounds for the third quarter of 2025, an increase of 23 per cent compared with 1.9 million pounds in the second quarter of 2025. The strong production results were achieved despite a planned 10-day shutdown to complete phase 1 upgrades to the galena No. 3 shaft.

The increase in silver production was driven by improved efficiencies at the Galena complex in Idaho, as well as the continued transition into the higher-grade EC120 zone at the Cosala operations in Mexico. At Galena, efficiency improvements in 2025 include improved underground development rates, the reintroduction of long-hole stoping, continuing replacement and upgrades of the underground mining fleet, and improved skipping capacity on the No. 3 shaft.

As previously announced, year-to-date antimony and copper production from the Galena complex totalled 447,466 pounds and 615,817 pounds, respectively (see Americas news release dated Oct. 16, 2025). A strong Sb:Cu (antimony: copper) correlation, with a year-to-date ratio averaging 0.73, underscores the predictability and strategic value of Galena's high-grade silver-copper-antimony tetrahedrite ore.

Americas' unaudited consolidated cash balance as at Sept. 30, 2025, was $39-million (U.S.), a decrease of $23-million (U.S.) compared with June 30, 2025. The expected decreased cash balance was largely the result of increased capital investments to support planned growth initiatives, in line with the company's planned capital deployment.

Paul Andre Huet, chairman and chief executive officer, commented: "I am extremely pleased with our progress during the third quarter in which production notched an 11-per-cent improvement on the prior quarter. Our operation in Idaho is now starting to deliver results after spending significant effort underground at Galena conducting numerous time studies, engineering work, productivity-focused projects, implementing new equipment and adjusting the mining method. It is important to note that Galena achieved a quarter-over-quarter production improvement despite a 10-day shutdown conducted to complete phase 1 of the upgrades to the No. 3 shaft, a tremendous achievement.

"Additionally, last week's disclosure of year-to-date antimony and copper production further highlights the critical metal value of our tetrahedrite ore, as well as Galena's unique strategic position as the only current producer of antimony in the United States.

"At Cosala, outstanding progress by our operating team delivered improvements compared to the prior quarter as the operation continued its transition into mining the higher-grade EC120 area.

"The strong third quarter production results and our robust balance sheet, with $50-million (U.S.) remaining undrawn on our existing credit facility, have us well positioned to continue to execute on our operational strategy to increase production, lower costs and unlock the massive potential of our asset base for our shareholders."

About Americas Gold and Silver Corp.

Americas Gold and Silver is a growing precious metals and antimony 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 growing silver and antimony producer. Americas also owns and operates the Cosala operations in Sinaloa, Mexico. Eric Sprott is the company's largest shareholder, holding an approximate 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 focused on becoming one of the top North American silver and antimony mining companies. .

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