Americas GOLD and Silver Announces Largest EVER Exploration Program IN 2026 Following the Discovery of Ten New High-Grade Silver-Copper-Antimony and Silver-Lead Veins at Galena Including 4,896 G/T Silver and 3.95% Copper over 1.3m
1
AMERICAS GOLD AND SILVER ANNOUNCES LARGEST EVER EXPLORATION PROGRAM IN 2026 FOLLOWING THE
DISCOVERY OF TEN NEW HIGH-GRADE SILVER-COPPER-ANTIMONY AND SILVER-LEAD VEINS AT GALENA
INCLUDING 4,896 g/T SILVER AND 3.95% COPPER OVER 1.3m
TORONTO, ONTARIO – March 12, 2026 – Americas Gold and Silver Corporation ( TSX: USA) (NYSE American: USAS)
(“Americas” or the “Company”) a growing North American precious metals and antimony producer, is pleased to
announce the discovery of seven new high-grade silver-copper-antimony veins and three new high-grade silver-lead
veins at the Galena Complex (Figure 1 and Table 1). The Company is also pleased to announce the largest drilling
campaign in Company history with a total of approximately 64,000 meters to be drilled across both the Galena
Complex (including the Crescent Mine) and Cosalá in 2026.
Highlights
• Hole 55-261: 4,896 g/t Ag and 3.95% Cu over 1.3 meters1, and
• Hole 43-310: 2,563 g/t Ag and 1.35% Sb over 0.7 meters1
• 2026 exploration drilling campaign to total approximately 64,000 meters across Idaho and Mexico operations
The intercepts announced today were drilled as part of the Company’s near-mine exploration efforts in late 2025 and
represent ten new vein discoveries with materially higher silver grades than the current Galena Complex Mineral
Resource and Mineral Reserves (see December 31, 2024 Mineral Resource and Mineral Resource estimate HERE:
https://americas-gold.com/site/assets/files/5151/reserves20241231.pdf). Drilling also returned numerous parallel
and splay vein intercepts adjacent to active mine workings, which represent near-term growth opportunities that
warrant aggressive follow-up drilling in 2026.
Paul Andre Huet, Chairman and CEO, commented: “Our team at Galena ha s delivered a series of very impressive
discoveries at our flagship operation over just the past year. The rapidly-growing, high-grade, silver-copper-antimony
034 Vein Complex combined with the discovery of ten new high-grade veins near existing mine infrastructure further
highlights the untapped potential of the Galena Complex. Our team continues to deliver world-class high-grade silver
intercepts more than 120 years after opening its doors.
The results announced today were highlighted by silver intersections of 4,896 g/t over 1.3 meters and 2,563 g/t over
0.7 meters demonstrating the consistency of new high-grade discoveries and the vast exploration potential that
remains untested at the Galena Complex . I am extremely pleased to announce that the tremendous success of our
drilling campaign in 2025 has led to the design and approval of the largest exploration drilling campaign in th e
Company’s history. In 2026, we will be drilling approximately 64,000 meters companywide.
The 2026 campaign includes underground and surface drill rigs mobilizing to our recently acquired Crescent Mine as
part of the Galena Complex, which has not seen a systematic drill program in decades and represents one of the
highest-grade past producing mines in the Silver Valley.
With a considerable investment being made in driving new high-grade discoveries in Idaho and Mexico, we look
forward to providing further updates as we continue to support our aggressive growth trajectory across our
operations.”
1. Estimated True Widths
2
Figure 1: (L) Long section view of the Galena Complex showing select high -grade vein discoveries (red stars) and
Americas 2026 underground infill (green trace) and exploration (purple trace) drill programs
Table 1: Highlight Intercepts returned from 2025 infill and exploration drilling at the Galena Complex
Galena Complex - Highlight Drill Results
(as of December 31, 2025)
Hole # Width (m)* Ag (g/t) Cu (%) Sb (%) Pb (%) Vein Type
43-310 3.6 650 0.45 0.34 0.14
Ag-Cu-Sb
Including 0.7 2,563 1.80 1.35 0.30
43-313 0.2 5,256 5.00 NA 0.38
43-295 2.1 773 0.86 NA 0.17
And 0.5 3,714 3.86 NA 0.14
43-297 2.0 323 0.03 0.07 14.10 Ag-Pb And 12.2 272 0.04 0.08 12.30
43-305 0.6 1,225 1.42 1.01 0.10
Ag-Cu-Sb And 0.7 871 0.70 0.53 0.10
And 2.1 734 0.54 0.53 0.40
And 0.4 1,518 2.00 2.38 9.10
Ag-Pb And 0.8 902 0.82 0.64 5.62
And 0.8 873 0.55 0.42 7.94
55-253 0.4 954 1.61 NA 0.10
Ag-Cu-Sb
And 2.4 437 0.37 NA 0.12
55-261 1.3 4,896 3.95 NA 0.11
55-266 0.6 1.785 1.75 0.61 0.19
55-281 0.9 2,762 2.33 NA 0.10
And 0.4 4,012 3.21 NA 0.10
And 1.0 1,043 1.27 NA 0.10
CO34-145 0.7 941 1.04 0.47 0.10
*Note: reported intercepts are estimated true widths
Sb%: NA refers to samples that were "Not Analyzed" for Sb in 2025 (Cu:Sb ratio = 0.7:1)
3
A full table of drill results can be found HERE: https://americas-gold.com/site/assets/files/4297/dr20260312.pdf.
About Americas Gold and Silver Corporation
Americas Gold and Silver is a rapidly growing North American mining company producing silver, copper, and antimony
from high-grade operations in the U.S. and Mexico. In December 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. This transaction consolidated Galena as a cornerstone U.S. silver asset and the nation’s largest
antimony mine. In December 2025, Americas acquired the fully permitted, past -producing Crescent Silver Mine (9
miles from Galena) with the world’s 3rd highest-grade silver resource, creating significant potential future synergies
through shared infrastructure and processing. In February 2026, Americas formed a 51/49 joint venture with US
Antimony to build a new antimony processing hub at Galena, creating a U.S. “mine-to-finished product” antimony
solution. Americas also owns and operates the Cosalá Operations in Sinaloa, 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.
For more information:
Maxim Kouxenko
Manager, Investor Relations
Americas Gold and Silver Corporation
+1 (647) 888-6458
Technical Information and Qualified Persons
The scientific and technical information relating to the operation of the Company’s material operating mining
properties contained herein has been reviewed and approved by Rick Streiff, Certified Professional Geologist
(CPG#11108), EVP, Geology of the Comp any. The Company’s current Annual Information Form and the NI 43 -101
Technical Reports for its other material mineral properties, all of which are available on SEDAR at www.sedar.com,
and EDGAR at www.sec.gov, contain further details regarding mineral rese rve 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 diamond drilling program used NQ -size core and BQ -size core. The Company’s standard QA/QC practices were
utilized to ensure the integrity of the core and sample preparation at the Galena Complex through delivery of the
samples to the assay lab. The dri ll core was stored in a secure facility, photographed, logged and sampled based on
lithologic and mineralogical interpretations. Standards of certified reference materials, field duplicates and blanks
were inserted as samples shipped with the core samples to the lab.
Analytical work was carried out by American Analytical Services Inc. (“AAS”) located in Osburn, Idaho, or SVL Analytical
located in Kellogg Idaho . AAS and SVL are independent, ISO -17025 accredited laborator ies. Sample preparation
includes a 30-gram pulp sample analyzed by atomic absorption spectrometry (“AA”) techniques to determine silver,
copper, and lead, using aqua regia for pulp digestion. Samples returning values over 514 g/t Ag are re -assayed using
fire-assay techniques for silver. Additionally, samples returning values over 23% Pb are re -assayed using titration
techniques.
Duplicate pulp samples are sent out quarterly to ALS Global, an independent, ISO-17025 accredited laboratory based
in Reno, Nevada to perform an independent check analysis. A conventional AA technique was used for the analysis of
silver, copper and lead at ALS Global with the same i ndustry standard procedures as those used by AAS. The assay
results listed in this report did not show any significant contamination during sample preparation or sample bias of
analysis.
4
All mining terms used herein have the meanings set forth in National Instrument 43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”), as required by Canadian securities regulatory authorities. These standards differ from
the requirements of the SEC that are applicable to domestic United States 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 t his news release may not be comparable to similar information
made public by companies subject to the SEC’s reporting and disclosure requirements.
Cautionary Statement on Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward -
looking information includes, but is not limited to, Americas’ expectations, intentions, plans, assumptions, and beliefs
with respect to, among other things, the new vein discoveries with materially higher silver grades than current Galena
Complex Resource and Reserves, the near -term growth opportunities represented by such discoveries warranting
aggressive follow-up drilling in 2026, the growing high -grade silver-copper-antimony 034 Vein Complex, timing and
expectations for the Company’s 2026 drill campaign , the potential quantity and grade of the exploration target, and
the anticipated timing and results of ongoing and planned exploration drilling at the Galena Complex, statements
about the Company’s exploration strategy, enhancement mill feed quality and operational efficiency, and anticipated
ability to increase shareholder value and are subject to the risks and uncertainties outlined below. Often, but not
always, forward -looking information can be identified by forward -looking words such as “anticipate,” “believe,”
“expect,” “goal,” “plan,” “intend,” “potential,” “estimate,” “may,” “assume,” and “will” or similar words suggesting
future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions, or statements about future
events or performance. Forward-looking information is based on the opinions and estimates of Americas as of the date
such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may
cause the actual results, level o f activity, performance, or achievements of Americas to be materially different from
those expressed or implied by such forward -looking information. These risks and uncertainties include, but are not
limited to the risk factors relating to the Company foun d under the heading “Risk Factors” in the Company’s Annual
Information Form dated March 31, 2025 or the Company’s MD&A for the three and six months ended June 30, 2025
dated August 11, 2025; interpretations or reinterpretations of geologic information; unf avorable exploration results;
inability to obtain permits required for future exploration, development, or production; general economic conditions
and conditions affecting the mining industry; the uncertainty of regulatory requirements and approvals; poten tial
litigation; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable
terms or at all; risks associated with the mining industry generally, such as economic factors (including future
commodity prices, currency fluctuations, and energy prices), ground conditions, failure of plant, equipment, processes,
and transportation services to operate as anticipated, environmental risks, government regulation, actual results of
current exploration and production activ ities, possible variations in grade or recovery rates, permitting timelines,
capital expenditures, reclamation activities, labor relations; and risks related to changing global economic conditions
and market volatility. Although the Company has attempted t o identify important factors that could cause actual
results to differ materially from those contained in forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such
information. Additional information regarding the factors that may cause actual results to differ materially from this
forward-looking information is available in Americas’ filings with the Canadian Securities Administrator s on SEDAR+
and with the SEC. Americas does not undertake any obligation to update publicly or otherwise revise any forward -
looking information whether as a result of new information, future events, or other such factors which affect this
information, exce pt as required by law. Americas does not give any assurance (1) that Americas will achieve its
expectations, or (2) concerning the result or timing thereof. All subsequent written and oral forward -looking
information concerning Americas are expressly qualified in their entirety by the cautionary statements above.