Americas GOLD and Silver Pours First GOLD at Relief Canyon and Provides Other Corporate Updates
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AMERICAS GOLD AND SILVER POURS FIRST GOLD AT RELIEF CANYON AND PROVIDES OTHER
CORPORATE UPDATES
TORONTO, ONTARIO—February 18, 2020—Americas Gold and Silver Corporation (TSX: USA) (NYSE
American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, is
pleased to announce that the Relief Canyon gold mine in Nevada has successfully poured its first gold and
to provide other corporate updates.
The Relief Canyon gold mine poured its first gold over the weekend. Initial construction was completed
nine months after construction formally commenced in mid‐May 2019. The initial capital spend is
estimated to be within the guidance range the Company provided of US$28 to US$30 million. The ramp
up at Relief Canyon is proceeding well with approximately 200,000 tonnes of ore stacked on the leach pad.
Twenty‐four‐hour operation was introduced in late January which will enable the stacking rate to reach its
design target of approximately 14,500 tonnes per day.
“We are thrilled to have poured first gold from Relief Canyon and excited as the asset advances toward
commercial production in the second quarter of this year. Relief Canyon will provide the Company with
significant exposure to gold and increase the Company’s precious metals production,” stated Americas
President and CEO Darren Blasutti. “The Relief Canyon employees, contractors and the corporate team
have worked diligently over the past nine months to bring this operation on line within a short time frame.”
Relief Canyon – First Gold Pour
Initial construction at Relief Canyon is complete and the operation successfully achieved its first gold pour
just nine months from the start of construction in mid‐May 2019. The initial capital is estimated to be
within the budget of US$28 to US$30 million.
Americas began actively mining ore at Relief Canyon in early December 2019. To date, the operation has
approximately 200,000 tonnes of ore placed on the leach pad. The ore crushing and stacking circuit is
performing as expected and the ADR plant is now fully functioning. Relief Canyon is mining and stacking
ore on a 24‐hour basis. Production is ramping up and the Company expects to reach design crushing and
stacking rates of approximately 14,500 tonnes per day.
Approximately 150,000 tonnes of ore has been stockpiled ahead of the crusher and is waiting to be placed
on the leach pad. Waste stripping is ahead of plan with mining activities focussed on the North and
Lightbulb areas of the pit. Commercial production is expected before the end of Q2‐2020.
Cosalá Operations Update
As previously disclosed in the Company’s press release on February 3, 2020, the Cosalá Operations are
currently negatively impacted by an illegal blockade. While the Company cannot engage in negotiations
while this harmful and illegal action exists, the Company continues to have discussions with government
authorities at both the state and federal levels and hopes to resolve this dispute in a timely and productive
fashion.
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The operation has had tremendous support from the local community, ejidos and small businesses in the
Cosalá area. The Company would like to thank local workers and other stakeholders as efforts continue to
remove the current illegal blockade in order to re‐start operations. Updates on the progress of a resolution
will be provided as appropriate.
Management Update
The Company has appointed Stefan Axell as Vice President, Corporate Development & Communications.
Mr. Axell brings to the Company over 15 years of experience from the mining and finance sectors. Prior to
joining Americas, Mr. Axell served as Director, Asset Management at Franco‐Nevada Corporation with
progressively senior roles over his eight years with the company. He joined Franco‐Nevada as Manager,
Investor Relations and prior to Franco‐Nevada, was an equity research analyst covering the mining sector.
Mr. Axell holds degrees in Mining Engineering and Economics from Queen’s University, a Master of Finance
degree from Stockholm School of Economics and is a CFA charterholder.
At‐The‐Market Offering
Americas has entered into an at‐the‐market offering agreement dated February 18, 2020 (the “ATM
Agreement”) with H.C. Wainwright & Co., LLC (the “Lead Agent”) and ROTH Capital Partners, LLC as agents
pursuant to which the Company established an at‐the‐market equity program (the “ATM Program”).
Pursuant to the ATM Program and ATM Agreement, the Company may, at its discretion and from time‐to‐
time during the term of the ATM Agreement, sell, through the Lead Agent, such number of common shares
of the Company (“Common Shares”) as would result in aggregate gross proceeds to the Company of up to
US$15.0 million. Sales of Common Shares, if any, through the Lead Agent, acting as agent, will be made
through “at the market” issuances, including without limitation, sales made directly on the NYSE American
LLC or other existing trading market for the shares in the United States at the market price prevailing at
the time of each sale, and, as a result, sale prices may vary. No Common Shares will be offered or sold on
the Toronto Stock Exchange or any other trading markets in Canada. The ATM Program will be effective
until July 28, 2021 unless terminated prior to such date. Americas intends to use the net proceeds from
the ATM Program, if any, for working capital and general corporate purposes, which may include the
exploration, development and/or improvement of the Company’s existing mine properties, including those
relating to bringing Relief Canyon into commercial production.
The ATM Program will be made by way of a prospectus supplement dated February 18, 2020 (the
“Prospectus Supplement”) to the Company's existing Canadian short form base shelf prospectus (the “Base
Shelf Prospectus”) and U.S. registration statement on Form F‐10, as amended (File No. 333‐229512) (the
“Registration Statement”), each dated June 28, 2019. The Registration Statement was declared effective
by the United States Securities and Exchange Commission (the “SEC”) on June 28, 2019. The Prospectus
Supplement has been filed with the Ontario Securities Commission and the SEC. The Canadian Prospectus
Supplement (together with the related Canadian Base Shelf Prospectus) is available on the SEDAR website
maintained by the Canadian Securities Administrators at www.sedar.com. The U.S. Prospectus
Supplement (together with the related U.S. Base shelf Prospectus) is available on the SEC's EDGAR website
at www.sec.gov.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there
be any sale of these Common Shares in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
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About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high‐growth precious metals mining company with multiple
assets in North America. The Company’s newest asset, Relief Canyon in Nevada, USA, has poured first gold
and is expected to ramp up to full production over the course of 2020. The Company also owns and
operates the Cosalá Operations in Sinaloa, Mexico and manages the 60%‐owned Galena Complex in Idaho,
USA. The Company also holds an option on the San Felipe development project in Sonora, Mexico. For
further information, please see SEDAR or www.americas‐gold.com.
Daren Dell, Chief Operating Officer and a Qualified Person under Canadian Securities Administrators
guidelines, has approved the applicable contents of this news release. For further information, please see
SEDAR or www.americas‐gold.com.
For more information:
Stefan Axell Darren Blasutti
VP, Corporate Development & Communications President and CEO
Americas Gold and Silver Corporation Americas Gold and Silver Corporation
416‐874‐1708 416‐848‐9503
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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 Gold and Silver’s expectations,
intentions, plans, assumptions and beliefs with respect to, among other things, the Company’s construction,
production, development plans and performance expectations at the Relief Canyon Mine, including the
anticipated timing of commercial production at Relief Canyon, the resolution and removal of the illegal
blockade at the Company’s Cosalá Operations and the resumption of mining and processing operations,
anticipated offering of Common Shares under the ATM Program and the anticipated use of proceeds from
the ATM Program, if any. 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 Gold and Silver 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 of activity, performance, or achievements of Americas Gold and Silver to be
materially different from those expressed or implied by such forward‐looking information. With respect to
the business of Americas Gold and Silver, these risks and uncertainties include interpretations or
reinterpretations of geologic information; unfavorable exploration results; inability to obtain permits
required for future exploration, development or production; general economic conditions and conditions
affecting the industries in which the Company operates; the uncertainty of regulatory requirements and
approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on
acceptable terms or at all; the ability to develop, complete construction, bring to production and operate the
Relief Canyon Project; and risks associated with the mining industry such as economic factors (including
future commodity prices, currency fluctuations and energy prices), ground conditions and other factors
limiting mine access, failure of plant, equipment, processes and transportation services to operate as
anticipated, environmental risks, government regulation, actual results of current exploration and production
activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction
expenditures, reclamation activities, labor relations or disruptions, social and political developments and
other risks of the mining industry. Although the Company has attempted to 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 Administrators 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, except 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.