Mr. Paul Huet reports

AMERICAS GOLD AND SILVER COMPLETES STRATEGIC ACQUISITION OF THE CRESCENT SILVER MINE IN IDAHO

Americas Gold and Silver Corp. has closed the acquisition of Crescent Silver LLC, which owns the Crescent mine in Idaho, United States, as previously announced (see Americas' news release dated Nov. 13, 2025).

The consideration under the acquisition is made up of $20-million (U.S.) in cash and approximately 11.1 million common shares of Americas.

Paul Andre Huet, chairman and chief executive officer, commented: "The Crescent mine is a synergistic addition to our Idaho operations located just nine miles from the Galena complex. Crescent is a fully permitted past-producing mine, which we intend to restart to provide a supplementary high-grade source of feed for our Galena complex mills. Crescent mineralized material is very similar to the tetrahedrite material at Galena, which contains high-grade silver and significant byproduct potential from antimony and copper, which meshes perfectly with our strategy to maximize the value of our production across metals.

"We are also encouraged by the completion of the $132-million (U.S.) oversubscribed bought deal financing we closed last week and welcome several new large shareholders to our register. We are fully funded for the anticipated capital investments required to rapidly advance Cresent into production. We will also be continuing with our aggressive exploration drilling program across both assets in conjunction with our production ramp-up at the Galena complex.

"We have worked hard to set the table for a very productive year in 2026 and beyond and look forward to getting to work realizing the synergy potential between the Galena complex and the Crescent mine to maximize the value of the combined operation.

"We are excited about what is shaping up to be a productive year ahead across all of our operations, including at our Cosala operations in Mexico where we continue our ramp-up to high-grade silver-copper production."

About the Crescent mine

Crescent mine is a past-producing underground mine that has produced over 25 million ounces of silver at an average grade of 26 ounces per ton (891 grams per tonne) between 1917 and 1981. The mine is located approximately four miles southeast of Kellogg, Idaho, and consists of 10 acres of surface rights and 15 acres of patented claims and mineral rights over 64 patented claims. The mineralized material at Crescent is tetrahedrite, which is identical to the Galena silver-copper-antimony material and ideally suited for the Galena and Coeur mills. The property hosts 3.8 million ounces of historical measured and indicated resource as well as a historical inferred resource of 19.1 million ounces. The company intends to mine Crescent using a combination of cut-and-fill and long-hole-stoping mining, similar to the successful optimization of neighbouring Galena currently under way.

The information is extracted from the report entitled "NI 43-101 Technical Report, Preliminary Economic Assessment, Crescent Silver Project, Shoshone County, Idaho, USA," dated Aug. 21, 2015. Americas confirms that the form and context in which the qualified persons' findings are presented have not been materially modified from the original report. The effective date of the historical estimate is August, 2015. The company believes that the historical estimate is reliable and relevant to continuing exploration and development on the Crescent mine. No more recent estimates of the mineral resource or other data are available to the company. A qualified person has not done sufficient work on behalf of Americas to classify the historical estimate noted here and in Table 1 as current mineral resources or mineral reserves and Americas is not treating the historical estimates as current mineral resources or mineral reserves. There is no certainty they will prove to be accurate or that a range of outcomes will be achieved.

The historical mineral resources were reported above a silver cut-off of 10 ounces per ton silver. The following assumptions were used to define the portion of the mineral resource that meets the test of reasonable prospect for economic extraction and can be declared a mineral resource: silver price of $20 (U.S.) per troy ounce, underground mining costs of $145 (U.S.) per ton, metallurgical recovery of 92-per-cent average, mining rate of 250 tons per day and minimum mining width of four feet. Additional key assumptions, parameters and methods used to prepare the historical estimate are disclosed in the 2015 technical report.

Key highlights from the 2015 Tetra Tech Inc. PEA (preliminary economic assessment)

In August, 2015, Crescent issued an updated National Instrument 43-101 PEA for the Crescent mine, prepared by Tetra Tech. The Crescent mine, like other narrow-vein, high-grade underground silver operations in the Coeur d'Alene district, was designed to leverage an overhand cut-and-fill underground mining method with processing at the nearby New Jersey mill. The 2015 PEA envisaged a 250-ton-per-day operation with total production of approximately 15 million ounces silver and 5.8 million pounds copper (average annual production of 1.4 million ounces silver and 500,000 pounds copper) over an 11-year life of mine.

Advisers

Cormark Securities Inc. acted as financial adviser to Americas and Bennett Jones LLP acted as legal counsel to Americas in connection with the acquisition.

Red Cloud Securities Inc. acted as advisers to Crescent in connection with the transaction.

About Americas Gold and Silver Corp.

Americas Gold and Silver is a rapidly growing North American mining company producing silver, copper and antimony from high-grade operations in the United States and Mexico. In December, 2024, Americas took full ownership of the Galena complex (Idaho) in a transaction with a management team led by Eric Sprott and Mr. Huet, solidifying Galena as a cornerstone U.S. silver asset and the nation's leading active antimony-producing mine. Americas also owns and operates the Cosala operations in Sinaloa, Mexico. Mr. Sprott is the largest shareholder (approximately 20 per cent) and Americas is fully financed to grow aggressively grow production at Galena. The company has a new non-restrictive, five-year, multimetal offtake agreement with Ocean Partners for treatment of any amount of Galena's concentrates at Teck Resources' British Columbia smelter. Americas aims to be a leading North American silver producer and a key source of U.S.-produced antimony.

Technical information and qualified persons

The scientific and technical information relating to the company's material mining properties contained herein has been reviewed and approved by Rick Streiff, executive vice-president, geology, of the company. The company's current annual information form and the NI 43-101 technical reports for its mineral properties, all of which are available on SEDAR+ and EDGAR, contain further details regarding mineral reserve and mineral resource estimates, classification and reporting parameters, key assumptions, and associated risks for each of the company's material mineral properties, including a breakdown by category. The scientific and technical information contained herein with respect to the Crescent mine was extracted from the report entitled "NI 43-101 Technical Report, Preliminary Economic Assessment, Crescent Silver Project, Shoshone County, Idaho, USA," dated Aug. 21, 2015. A qualified person has not done sufficient work on behalf of Americas to classify the historical estimate noted herein as current mineral resources or mineral reserves and Americas is not treating the historical estimates as current mineral resources or mineral reserves. The company believes that the historical estimate is reliable and relevant to continuing exploration and development on the Crescent mine. No more recent estimates of the mineral resource or other data are available to the company.

All mining terms used herein have the meanings set forth in NI 43-101, Standards of Disclosure for Mineral Projects, as required by Canadian securities regulatory authorities. These standards differ from the requirements of the SEC (U.S. Securities and Exchange Commission) that are applicable to domestic U.S. reporting companies. Any mineral reserves and mineral resources reported by the company in accordance with NI 43-101 may not qualify as such under SEC standards. Accordingly, information contained in this news release may not be comparable with similar information made public by companies subject to the SEC's reporting and disclosure requirements.

We seek Safe Harbor.