Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) a North American producer of silver and other critical minerals supporting artificial intelligence, electrification, national security and advanced manufacturing, is pleased to announce high-grade Ag-Cu drill results from the Company’s ongoing resource conversion drilling program at the Cosalá Complex. The assays released are a result of infill and step-out drilling conducted in 1H 2026 at the San Rafael Upper, 120 Upper and 120 Lower deposits with multiple holes at all three zones returning substantially higher silver grades than the currently modeled resource. These results represent significant upside potential to the future mine plan as they were not included in the Company’s 2025 Mineral Resource and Reserve statement (see Americas news release dated March 30, 2026).

Paul Andre Huet, Chairman and CEO, commented: “The Cosalá operation continues to significantly exceed expectations, and I’d like to congratulate the entire team in Mexico for their commitment to mining excellence at all levels of the operation.

Resource conversion drilling at the San Rafael Upper and 120 zones is consistently averaging 2-3x the previously reported inferred Mineral Resource grades. Today’s results are highlighted by hole SR583, which intersected a true thickness of 20.5 meters grading 654.7 g/t Ag and 1.5% Cu. It’s important to note that this intercept is located just 30 meters outside of the 2025 inferred resource boundary and is expected to contribute new, high-grade silver ounces to the Cosalá mine plan. On a gram-meter basis these intercepts are comparable with some of the best silver intercepts drilled anywhere in Mexico over the past year.

Overall, the tremendous exploration success being delivered at Cosalá in 2026 is a demonstration of the significant value still to be captured by a robust exploration program. As a reminder, Cosalá has not received a material exploration budget for many years and we are truly excited at the growth potential of this asset, both in terms of higher grades, as demonstrated today, and potential improvements to the existing mine plan. Over the remainder of 2026 and into 2027, we will continue unlocking value with the drill bit at Cosalá and are looking forward to incorporating these results into our next resource estimate and mine plan in 2027. As the results have demonstrated this year, Cosalá is certainly an exciting and meaningful contributor to our multi-asset growth strategy underway at Americas Gold & Silver.”

The 44 reported drillholes (55 total) continue to confirm the modeled thickness of the Mineral Resource and represent a potential opportunity to increase the average silver grades in the San Rafael Upper and 120 zones versus the 2025 reported Mineral Resource grades. All reported drill intercepts are directly adjacent to existing infrastructure with portions of the San Rafael deposit already in production. The Company is in the process of creating an optimized mine plan for the Upper and Lower 120 deposit and anticipates mine development to access this high-priority zone in H2 2027.

Figure 1: (L) Long section of Cosalá Complex with highlighted drill results at the San Rafael Upper and 120 Zones

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5082/314719_d573b0b8340d28a8_002full.jpg

Table 1: Key Intercepts returned from Q1-Q2 2026 resource infill drilling at the Cosalá Mine Complex

*Note: Reported intercepts are estimated true widths | NSV = No Significant Values
a collar and full assay table can be found at: https://americas-gold.com/site/assets/files/4295/dr20260917.pdf

About Americas Gold and Silver Corporation

Americas Gold and Silver Corporation is a rapidly growing North American producer of silver and other critical minerals supporting the growth of AI, electrification, advanced manufacturing, and national security. The Company owns a portfolio of high-grade mining assets in the United States and Mexico and is executing a strategy to become one of North America’s leading silver producers while establishing a secure domestic supply of antimony.

The Company’s flagship Galena Complex in Idaho is one of the United States’ premier silver mining districts and includes the nation’s largest antimony mine. Nearby, the fully permitted Crescent Silver Mine hosts one of the world’s highest-grade silver resources and offers significant future growth potential through shared infrastructure and processing. Through a 51/49 joint venture, the Company is developing a fully integrated domestic antimony supply chain-from mine to finished product-to help strengthen America’s critical mineral independence.

Americas also owns and operates the Cosalá Operations in Sinaloa, Mexico, where EC120, a high grade silver-copper mine, is currently being scaled. With a strong balance sheet and multiple high-quality growth projects, the Company is well positioned to increase silver and antimony production while supplying the critical minerals needed to support the next generation of AI infrastructure, energy systems, and advanced industrial technologies.