Continued Strong Results From Galena Complex Drilling

TORONTO  - Americas Gold and Silver Corporation President & CEO, Darren Blasutti, said, “We continue to see spectacular drill results from the Phase 1 drilling which has already added over 50 million ounces of silver at the Galena Complex, with a goal for a further 50 million ounces to be added by June 30, 2021. “Drilling from the 4300 Level has the potential to add solid, incremental production in the near term while deeper drilling from the 5500 Level should position the operation to return to its peak 5 million ounce per year production longer term.”

Drilling from the 5500 Level continues to target known orebodies at depth as new development is being driven east of the #3 shaft to establish drill stations to target the Triple Point (intersection of the Silver, 175 and 185 Veins) and the down dip extension of the 360 Complex. In the interim, the two most recent drill holes intersected the veins individually which yielded significant grades and provided more accurate positioning of the three veins for future drillhole targeting.

Hole 55-133 intersected both the 175 and 185 Veins, approximately 135 meters below the 5500 Level. The company is now drilling the three Triple Point veins outside of the convergence to define the extents of each vein individually. Once the next station is established, drilling of the Triple Point convergence will continue at depth.

Continued drilling of the 360 Complex from the 4300 Level, which was an important contributor to the increase in the mineral resource estimates as of June 30, 2020, has yielded additional strong results. These veins are close to existing infrastructure with higher-than-average reserve silver equivalent grades that can be exploited in the latter half of 2021. The Company is targeting further mineral resource additions at the Galena Complex for the remainder of Phase 1 drilling through June 2021 with expectations of least 50 million ounces of silver.