Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS), a growing North American precious metals and antimony producer, is pleased to announce high-grade drill results from the Company’s ongoing resource conversion drilling program at the Cosalá Complex. Drilling was conducted in Q4 2025 through Q1 2026 at the San Rafael Upper, 120 Upper and 120 Lower zones with drilling 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 reported after the October 31, 2025, Mineral Resource cutoff date, and therefore not included in the Company’s recently announced Mineral Resource and Reserve statement (see Americas news release dated March 30, 2026).

The 14 reported drillholes have not only confirmed the modeled thickness of the Mineral Resource but also represent a potential substantial increase in average silver grades in the San Rafael Upper and 120 zones versus the 2026 reported Mineral Resource grades. All reported drill intercepts are directly adjacent to existing infrastructure and are currently being incorporated into an optimized mine plan heading into H2 2026.

Paul Andre Huet, Chairman and CEO, commented: “Today’s results at Cosalá are truly spectacular and I’d like to congratulate the Cosalá team who continue to exceed expectations at every level. Mineral Resource conversion drilling at the San Rafael Upper and 120 zones is consistently averaging 2-3x the previously reported inferred Mineral Resource grades. Furthermore, the highlight intercept in hole SR568 intersected 14.0 meters grading 599.8 g/t Ag in a section of the Mineral Resource that predicted silver grades of 110 g/t, representing more than 5x potential upgrade to the grades in that area when compared to our current Mineral Resource. These excellent drill intercepts are immediately adjacent to existing mine infrastructure, and we are looking forward to incorporating these results into our optimized mine planning process as we move into H2 2026.

The Company is on track to complete the most aggressive drilling campaign in company history in 2026, and today’s results further highlight the incredible potential remaining to be unlocked with the drill bit at each of our operations.”

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

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Table 1: Key Intercepts returned from Q4 2025 and Q1 2026 resource infill drilling at the Cosalá Complex

*Note: Reported intercepts are estimated true widths.
A full table of drill collars and assay results can be found at: https://americas-gold.com/site/assets/files/4295/dr20260601.pdf

About Americas Gold and Silver Corporation
Americas Gold & Silver is a rapidly growing North American mining company producing silver, copper, and antimony from high-grade operations in the U.S. & Mexico. In Dec. 2024, Americas acquired 100% ownership of the Galena Complex (Idaho) in a transaction with Eric Sprott, former 40% Galena owner, in exchange becoming Americas’ largest shareholder at ~14%. This unitized Galena as a cornerstone U.S. silver asset and the nation’s largest antimony mine. In Dec. 2025, Americas acquired the fully permitted, past-producing Crescent Silver Mine (9 mi from Galena), creating significant potential future synergies through shared infrastructure & processing. Americas also owns & operates the Cosalá Ops. in Mexico. Americas is fully funded to aggressively grow production at the Galena Complex, Crescent and in Mexico with an aim to be a leading North American silver producer and a key source of U.S.-produced antimony.