Significant Increase To The Galena Complex Resource

TORONTO - Americas Gold and Silver Corporation reported on a consolidated and attributable basis, estimated contained metal in the proven and probable mineral reserve categories totaled 610,000 ounces of gold, 30.6 million ounces of silver, 134 million pounds of zinc, 129 million pounds of lead and 28 million pounds of copper.  Please refer to the Company's website for a full breakdown of its Mineral Reserve and Mineral Resource statement by asset. 2020 Mineral Reserve and Mineral Resource Update Highlights: Since the June 2019 Mineral Reserve and Resource statement, exploration drilling was focused solely at the Galena Complex as the Company constructed and commissioned Relief Canyon; Drilling to date at the Galena Complex includes approximately 33% of planned exploration drilling based on the Galena Complex Recapitalization Plan; and Based on this initial drilling at the Galena Complex, measured and indicated ("M&I") silver resources on a 100% basis (60% USA/40% Eric Sprott) increased from 27.4 million ounces to 37.3 million ounces and inferred silver resources increased from 39.0 million ounces to 78.6 million ounces. This represents a 36% and 101% increase, respectively, from previous reported estimates.

"I am pleased to see the initial exploration efforts at the Galena Complex translating into meaningful increases to silver resources in such a short time," said President and CEO, Darren Blasutti.  "A significant amount of drilling remains planned for deeper levels of the Galena Complex.  I am confident that with this drilling we will see continued increases to silver resources and eventually convert these silver resources to silver reserves.  As Relief Canyon ramps up to commercial production and we continue efforts to re-start the Cosala Operations, we expect a renewed focus on exploration efforts at these operations in the future."

As Relief Canyon continues to ramp up towards commercial production and the Company seeks to achieve the restart of mining activities at the Cosala Operations, the Company expects to generate meaningful cash flow from its operations and expand the exploration drilling budgets at these two operations, in addition to the continued drilling at the Galena Complex pursuant to the Recapitalization Plan.

At the Galena Complex, the Company's share of M&I silver resources increased from 16.4 million ounces to 22.4 million ounces, a 36% increase compared to last year.  M&I lead resources increased by over 55% year over year to 158 million pounds.  This growth reflects results from just 33% of the drilling included under the Recapitalization Plan.  The Company has recently started drilling deeper extensions of known mineralization at the Galena Complex including further drilling of the 72 Vein, which was a major contributor of ore during its peak silver production years of 2000-2004.  In addition to targeting the 72 Vein, exploration will focus on what has been described as the "triple point", where the high-grade 175, 185 and Silver Veins are projected to converge.  This area has never been explored and is projected to be below historical workings.  Follow-up drilling on the 291 and 360 Vein systems is also planned from the 5500 level and is designed to extend these zones down-dip.  The Company expects further increases to M&I resources as the current exploration program continues through the start of 2021.

The Company's share of the inferred silver resources at the Galena Complex increased from 23.4 million ounces to 47.1 million ounces, representing more than a 100% increase from the previously reported estimate.  The Company's share of inferred lead resources at the Galena Complex increased by 77% to 476 million pounds from the previously reported estimate.  With the remaining drilling considered under the Recapitalization Plan, the Company is confident that inferred resources will increase, offset by any upgrades in resource classification in next year's Mineral Resource estimate.