Americas Silver Corporation Provides an Exploration and San Rafael Update
AMERICAS SILVER CORPORATION PROVIDES AN EXPLORATION AND SAN RAFAEL UPDATE
TORONTO, ONTARIO—June 5, 2018 —Americas Silver Cor poration (TSX: USA) (NYSE “Am erican”: USAS)
(“Americas Silver” or the “Company”) is pleased to provide an u pdate on exploration activities at its two
operating properties, the 100%‐owned Cosalá Operations in Sinaloa, Mexico and the 100%‐owned Galena
Complex in Wallace, Idaho and a brief update on its new San Rafael Mine. The Cosalá Operations includes
the Zone 120 deposit, adjacent to the San Rafael Mine.
Exploration Highlights
Cosalá Operations ‐ Zone 120
Hole SR‐435 with multiple intervals including:
‐ 20.131 meters grading 249g/t Ag, 0.38g/t Au, and 0.76% Cu (362g/t AgEq2)
‐ 29.94 meters grading 203g/t Ag, 0.31g/t Au, and 0.61% Cu (295g/t AgEq)
‐ 10.65 meters grading 123g/t Ag, 0.16g/t Au, and 0.27% Cu (166g/t AgEq)
Hole SR‐438 with 6.20 meters grading 620g/t Ag, 0.75g/t Au, and 1.32% Cu (825g/t AgEq) including
1.05 meters at 1,051g/t Ag, 1.42g/t Au and 2.33% Cu (1,419g/t AgEq)
Hole SR‐439 with 5.15 meters grading 166g/t Ag, 0.15g/t Au, and 0.06% Cu (184g/t AgEq)
Galena Complex
3200 Level – Strike extension of Upper Country Lead Zone
‐ Hole 32‐055 with 6.65 meters grading 160g/t Ag and 8.20% Pb (488g/t AgEq)
‐ Hole 32‐059 with 3.17 meters grading 387g/t Ag and 11.41% Pb (843g/t AgEq)
4300 Level – Vertical extension of the 366 Foot Wall (FW) structure
‐ Hole 43‐188 with 24.09 meters grading 107g/t Ag and 5.25% Pb ( 317g/t AgEq) including
6.83 meters at 158g/t Ag and 8.11% Pb (482g/t AgEq)
‐ Hole 43‐189 with 4.57 meters grading 100g/t Ag and 7.26% Pb (391g/t AgEq)
“These excellent drill results at both of our operating complex es continue to expand our silver resources
allowing for future low capital and operating cost production,” said Darren Blasutti, President and CEO of
Americas Silver Corporation, “With the San Rafael mill processing 1,650 tonnes per operating day with
further ramp up expected, our cash costs and all‐in sustaining costs will continue to reduce over the
remainder of the year.”
1 True widths reported.
2 Silver equivalent grade (AgEq) calculated using metal prices of $18.00/oz Ag, $1,300/oz Au, $1.05/lb Pb and $3.00/lb Cu
San Rafael Update
The mine and mill continued to make steady progress through the end of May, 2018. Ore production is
exceeding mill feed requirements with development into the Main and Upper Zones remaining on plan.
The mill is treating 1,650 tonnes per operating day and buildin g consistency at this level; throughput is
targeted to reach 1,700 tonnes per operating day by the end of the second quarter.
Cosalá Operations ‐ Zone 120 Exploration Results
Drill results are now available for holes SR‐433 through SR‐441 . Significant intercepts in excess of 100g/t
AgEq and with widths greater than 4 meters are shown in Table 1. A complete summary of the drill results
can be found on the Company’s website at www.americassilvercorp.com.
Table 1: Zone 120 Drill Results
Hole From To True Width Ag Au Cu AgEq
(m) (m) (m) (g/t) (g/t) (%) (g/t)
SR‐435 261.90 273.30 10.65 123 0.16 0.27 166
Including 263.20 264.65 1.35 334 0.24 0.75 437
SR‐435 295.70 317.25 20.13 249 0.38 0.76 362
Including 303.95 305.10 1.07 491 0.75 1.46 712
Including 311.00 312.45 1.35 727 0.91 2.17 1,041
SR‐435 295.70 327.75 29.94 203 0.31 0.61 295
SR‐438 319.05 325.55 6.20 620 0.75 1.32 825
Including 321.05 323.70 1.05 1,051 1.42 2.33 1,419
SR‐439 15.90 21.40 5.15 166 0.15 0.06 184
These latest results conclude the planned 12,000 meter drill program at Zone 120. Analysis of data is
underway as part of a mid‐year resource estimate. The Company has begun evaluating development
alternatives for the project with the goal of prioritizing preferred options by the end of the third quarter.
The Zone 120 deposit is characterized by steeply dipping parall el lenses of Ag‐Cu‐Au skarn mineralization
developed in volcanically derived calcareous sediments adjacent to intermediate intrusive dikes and sills.
Skarn mineralization is characterized by disseminated chalcopyr ite and tetrahedrite. The mineralization is
similar to that at Americas Silver’s nearby El Cajón mine which has been mined and processed in the past.
Mineralization at Zone 120 has been found over an area greater than 500 meters in length, 300 meters in
width and down to a depth of 550 meters. Individual lenses have widths up to 60 meters.
Figure 1: Location of Latest Reported Holes
Galena Complex Exploration Results
Exploration drilling at Galena is continuing to successfully expand areas of mineralization near existing
underground mine infrastructure. The most recent results have benefited the Upper Country Lead Zone in
the 3200 level and identified a possible up‐dip extension of the 366 Foot Wall which was mentioned in the
press release of April 5, 2018. Significant intercepts for this drilling are shown in Table 2.
Table 2: Galena Complex Drill Results
Hole Area From
(m)
To
(m)
True Width
(m)
Ag
(g/t)
Pb
(%)
AgEq
(g/t)
32‐055 B‐Branch 30.18 36.83 6.65 160 8.20 488
32‐056 B‐Branch 37.20 39.63 2.44 145 7.66 452
32‐059 2A Vn 2.44 6.10 3.17 387 11.41 843
32‐060 2A Vn 4.27 6.71 2.10 169 5.13 374
32‐071 2A Vn 24.39 25.52 1.13 214 13.20 742
32‐071 B‐Branch 35.06 37.50 2.44 67 3.49 207
43‐188 Poss. 366 FW 33.54 57.62 24.09 107 5.25 317
Including 46.22 53.05 6.83 158 8.11 482
43‐189 Poss. 366 FW 53.35 57.93 4.57 100 7.26 391
43‐189 Poss. 366 FW 67.99 70.67 2.68 171 11.77 642
Development of the Upper Country Lead Zone on the 3200 Level is progressing well. Exploration drifting
over the past twelve months has been supported by ongoing diamond drilling to better define and validate
the geological model. A total of 391 meters of vein development has identified silver‐lead mineralization
with an average mined width of 2.6 meters at typical mined grad es of 180g/t Ag and 6.2% Pb. Data from
the recent diamond drill holes has improved delineation of the eastern extent of the resource and
identified new exploration targets along the B‐Branch fault zone. Incorporated into the geological model,
these drill results have the potential to add a further 362 meters of strike length to the 3200 level
exploration project while providing vital structural information t o t h e b e n e f i t o f p r o d u c t i o n c u r r e n t l y
sourced from the 3400 level.
The 366 FW zone was first identified in 2017 from drilling on the 4900 Level. Recent drilling from the 4300
Level has identified the possible up‐dip extension of this mine ralized structure which, if confirmed, could
nearly double the size of the zone to approximately 200 meters in height and 180 meters in length and 3.8
meters in width. As presently defined the structure remains op en in both vertical directions. Given the
zone’s proximity to existing underground infrastructure on the 4900 Level, development has reached the
area and initial production results have been positive.
Figure 2: Recent Drilling in the Upper Country Lead Zone
Technical Information
Drill core samples from the Cosalá operations are prepared at the Company’s secure facility in Cosalá,
Sinaloa. Assaying was done by ALS Chemex Labs in Hermosillo, Sonora.
Drill core samples from the Galena Complex are prepared and assayed at American Analytical Services Inc.
in Osburn, Idaho. The Company has a QA/QC program supervised by a Qualified Person.
Daren Dell, Chief Operating Officer and a Qualified Person under Canadian Securities Administrators
guidelines, has approved the applicable contents of this news r elease. For further information please see
SEDAR or americassilvercorp.com.
About Americas Silver Corporation
Americas Silver is a silver mining company focused on growth in precious metals from its existing asset
base and execution of targeted accretive acquisitions. It owns and operates the Cosalá Operations in
Sinaloa, Mexico and the Galena Complex in Idaho, USA. The Compa ny holds an option on the San Felipe
development project in Sonora, Mexico.
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, the Company’s expectations intentions, plans,
assumptions and beliefs with respect to, among other things, th e realization of exploration, operational
and development plans, the Cosalá Operations and Galena Complex as well as the Company’s financing
e f f o r t s . O f t e n , b u t n o t a l w a y s , f o r w a r d ‐ l o o k i n g i n f o r m a t i o n c a n be identified by forward‐looking words
such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “intend”, “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. F orward‐looking information is based on
the opinions and estimates of the Company as of the date such i nformation 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 the Company to be materially different from those expressed or
implied by such forward looking information. This includes the ability to develop and operate the Cosalá
and Galena properties, risks associated with the mining industry such as economic factors (including future
commodity prices, currency fluctuations and energy prices), gro und conditions and factors other factors
limiting mine access, failure of plant, equipment, processes and transportation services to operate as
anticipated, environmental risks, government regulation, actual r e s u l t s o f c u r r e n t e x p l o r a t i o n a n d
p r o d u c t i o n a c t i v i t i e s , p o s s i b l e v a r i a t i o n s i n o r e g r a d e o r r e c overy rates, permitting timelines, capital
expenditures, reclamation activities, social and political devel o p m e n t s a n d o t h e r r i s k s o f t h e m i n i n g
industry. Although the Company has attempted to identify important factors that could cause actual results
to differ materially from those contained in forward‐looking in formation, 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. By its nature, forward‐looking in formation involves numerous assumptions,
inherent risks and uncertainties, both general and specific that contribute to the possibility that the
predictions, forecasts, and projections of various future events will not occur. The Company undertakes no
obligation to update publicly or otherwise revise any forward‐l ooking information whether as a result of
new information, future events or other such factors which affe ct this information, except as required by
law.
Cautionary Note to U.S. Investors regarding mineral resources:
The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource”, “inferred
mineral resource” used in the press release are Canadian mining terms used in accordance with National
Instrument 43‐101 ‐ Standards of Disclosure for Mineral Projects under the guidelines set out in the
Canadian Institute of Mining, Metallurgy and Petroleum Standards. Mineral resources which are not
mineral reserves do not have demonstrated economic viability.
While the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource”, and
“inferred mineral resource” are recognized and required by Canad i an r e g u l at ion s, t h e y ar e n ot d e f i ne d
terms under standards in the United States and normally are not permitted to be used in reports and
registration statements filed with the Securities & Exchange Commission (“SEC”). As such, information
contained in the Company's disclosure concerning descriptions of mineralization and resources under
Canadian standards may not be comparable to similar information made public by U.S companies in SEC
filings. With respect to “inferred mineral resource” there is a great amount of uncertainty as to their
existence and a great uncertainty as to their economic and lega l feasibility. It cannot be assumed that all
or any part of an “inferred mineral resource” will ever be upgr aded to a higher category. Investors are
cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted
into reserves.
For more information:
Darren Blasutti
President and CEO
416‐848‐9503