Americas Silver Corporation Provides an Exploration Update
AMERICAS SILVER CORPORATION PROVIDES AN EXPLORATION UPDATE
TORONTO, ONTARIO—April 5, 2018 —Americas Silver Corporation (TSX: USA) (NYSE “A merican”: 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. The Cosalá Operations includes the Zone 120 deposit, adjacent to the San
Rafael Mine.
Exploration Highlights
Cosalá Operations ‐ Zone 120
Hole SR‐419 with 4.941 meters grading 33g/t Ag, 7.20g/t Au, and 0.13% Cu (567g/t AgEq2)
Hole SR‐425 with 41.68 meters grading 148g/t Ag, 0.25g/t Au and 0.32% Cu (203g/t AgEq)
Hole SR‐427 with 26.24 meters grading 181g/t Ag, 0.11g/t Au and 0.51% Cu (247g/t AgEq)
Hole SR‐429 with 12.32 meters grading 84g/t Ag, 0.17g/t Au and 0.23% Cu (122g/t AgEq)
Galena Complex
4900 Level ‐ Strike extension of the 366 Foot Wall (“FW”) silver‐lead zone
‐ Hole 49‐464 with 7.5 meters grading 160g/t Ag and 8.71% Pb (508g/t AgEq)
‐ Hole 49‐465 with 6.5 meters grading 173g/t Ag and 11.43% Pb (631g/t AgEq)
4900 Level ‐ Step‐out success to extend silver‐lead mineralization in the 164‐168 vein system
‐ Hole 49‐481 with 8.1 meters grading 416g/t Ag and 14.04% Pb (978g/t AgEq)
‐ Hole 49‐497 with 7.5 meters grading 270g/t Ag and 13.95% Pb (828g/t AgEq)
“We are excited about the strong success of the infill and near ‐mine drill programs so far in 2018 at both
of our properties,” said Darren Blasutti, President and CEO of Americas Silver Corporation. “At Zone 120,
eleven of the latest thirteen holes delivered significant mineralization over impressive widths. Zone 120 is
becoming a substantial deposit with the potential to become the Company’s next operating mine. At
Galena, high‐grade strike extensions on the 366 FW and step out success on the 164‐168 vein system both
on the 4900 level means higher grade near‐term production and resource additions in these areas.”
Cosalá Operations ‐ Zone 120 Drill Results
Drill results are now available for holes SR‐419 through SR‐432 (SR‐420 was previously reported). Notable
intercepts were found in all holes. Significant intercepts in excess of 100g/t AgEq a nd with widths wider
than 4 meters are shown in Table 1.
1 True widths reported.
2 Silver equivalent grade (AgEq) calculated using metal prices of $18.00/oz Ag, $1,300/oz Au and $3.00/lb Cu for Cosalá and $18.00/oz Ag and $1.05/lb
Pb for Galena.
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‐419 162.55 169.10 6.40 110 0.58 0.33 190
SR‐419 169.10 174.15 4.94 33 7.20 0.13 567
SR‐421 170.15 174.43 4.04 63 0.11 0.28 103
SR‐422 19.80 36.25 16.45 78 0.23 0.11 107
Including 28.00 30.00 2.00 221 1.12 0.35 342
SR‐422 178.00 184.00 6.00 121 0.42 0.20 174
Including 182.00 184.00 2.00 221 1.15 0.32 340
SR‐424 201.15 205.35 3.97 116 0.13 0.48 180
SR‐425 294.70 299.83 4.67 71 0.03 0.17 93
SR‐425 359.85 366.00 5.53 368 0.18 0.90 484
SR‐425 375.90 421.65 41.68 148 0.25 0.32 203
Including 386.25 387.80 1.41 327 0.23 0.54 406
Including 396.15 401.00 4.42 415 0.20 0.76 516
Including 416.20 417.46 1.15 398 2.48 0.66 652
SR‐427 0.00 9.50 9.50 51 0.59 0.05 100
SR‐427 155.20 184.00 26.24 181 0.11 0.51 247
Including 179.20 182.10 2.64 696 0.43 1.50 899
SR‐428 166.36 179.00 11.80 70 0.09 0.21 100
SR‐428 242.70 246.80 3.69 103 0.06 0.13 122
SR‐429 375.70 389.55 12.32 84 0.17 0.23 122
SR‐430 126.00 134.50 8.03 15 1.27 0.08 116
Including 130.40 131.75 1.27 11 7.70 0.06 574
SR‐431 338.50 346.20 6.86 95 0.05 0.26 128
SR‐431 354.70 362.20 6.67 158 0.14 0.38 211
Including 358.40 360.40 1.78 318 0.34 0.71 423
SR‐432 345.20 349.55 4.21 88 0.05 0.33 129
SR‐432 366.95 372.20 5.08 151 0.10 0.29 192
Including 366.95 367.75 0.77 424 0.22 0.91 544
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
In the current program, Americas Silver has drilled over 12,000 meters at Zone 120 extending and
delineating the mineralized material in order to expand and upgrade previously reported resources of 2.09
million tonnes measured and indicated of 187 g/t Ag and 0.48% C u (240g/t AgEq) and 1.38 million tonnes
inferred of 216 g/t Ag and 0.59% Cu (260g/t AgEq). Results from the remaining holes are expected to be
released in late Q2, 2018.
Evaluation of development scenarios will start following incorporation of all new drilling data into an
updated mid‐year resource estimate.
Galena Complex Drill Results
Exploration drilling at Galena continues to discover and expand areas of mineralization near existing
underground mine infrastructure. Two areas on the 4900 Level, the 366 FW zone and the 164‐168 vein
system, have provided excellent results which are expected to d eliver benefits in early 2019. 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)
49‐461 366 FW 73.1 76.8 3.7 167 6.84 441
49‐464 366 FW 63.1 70.6 7.5 160 8.71 508
49‐465 366 FW 89.9 105.2 6.5 173 11.43 631
49‐477 366 FW 47.2 50.3 3.0 163 6.24 413
49‐486 366 FW 68.1 73.1 4.4 123 6.54 384
49‐481 164 Vn 92.1 103.6 8.1 416 14.04 978
Including 164 Vn 92.1 96.0 3.3 746 22.12 1,631
49‐483 164 Vn 66.0 69.5 2.7 193 11.5 653
49‐495 167 Vn 59.7 64.3 4.3 172 9.41 548
49‐496 164 Vn 70.6 78.7 7.0 462 3.16 588
49‐497 167 HW 21.3 32.0 7.5 270 13.95 828
49‐497 164 Vn 67.1 71.6 3.2 169 7.61 473
49‐497 168 Vn 102.1 103.6 1.5 170 8.08 493
49‐498 167 HW 29.0 30.5 1.3 355 16.26 1,005
49‐498 167 HW 36.0 38.1 1.6 588 33.46 1,927
49‐498 164 Vn 67.1 72.5 4.2 607 0.83 640
49‐498 168 Vn 78.2 80.8 2.0 400 9.73 789
The 366 FW zone, originally identified in 2017 through an 18‐ho le drill program, is located on the eastern
side of the 4900 Level, north of the 360 and 366 Veins as shown in Figure 2. An additional 12‐hole drill
program totaling 998 meters successfully increased the mineralized volume in Q1 of 2018. Based on
interpretation of available drill hole results, the 366 FW zone extends approximately 120 meters vertically,
has a strike length of 180 meters and averages 3.8 meters in width. Additional drilling continues to support
preliminary mine designs utilizing mechanized mining methods gi ven the width and extents of the
mineralization. Future drill programs from the 4300 Level will focus on testing the up‐dip projection of
existing mineralization.
Figure 2: Location of 366FW Zone
A 12‐hole vertical extension drill program targeting the up‐dip continuity of the 164‐168 Vein system was
recently completed. Drill results have strengthened geological constraints in this vein system and extended
mineralization outside the most recently reported resource. Dri lling planned for later in the year will test
the extents of the mineralization from the 4300 Level.
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 Mine Complex in Idaho, USA. The Company 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 (including further exploration and develo pment of San Felipe), the Cosalá
Operations and Galena Complex as well as the Company’s financing efforts. Often, but not always, forward‐
looking information can be identified by forward‐looking words such as “anticipate”, “believe”, “expect”,
“goal”, “plan”, “intend”, “estim ate”, “may”, “assume” and “will ” or similar words suggesting future
outcomes, or other expectations, beliefs, plans, objectives, as sumptions, intentions, or statements about
future events or performance. Forward‐looking information is based on the opinions and estimates of the
Company as of the date such information is provided and is subj ect to known and unknown risks,
uncertainties, and other factors that may cause the actual resul t s , l e v e l o f a c t i v i t y , p e r f o r m a n c e , o r
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 o perate the Cosalá and Galena properties,
risks associated with the mining i n d u st r y s u c h a s e c o n o m i c f a c tors (including future commodity prices,
currency fluctuations and energy prices), ground 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 results of current exploration and production activities, possible
variations in ore grade or recovery rates, permitting timelines, capital expenditures, reclamation activities,
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 fac t o r s t h a t c a u s e r e s u l t s n o t t o b e a s
anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such
information. By its nature, forward‐looking information 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 Co mpany undertakes no obligation to update
publicly or otherwise revise any forward‐looking information whe t h e r a s a r e s u l t o f n e w i n f o r m a t i o n ,
future events or other such factors which affect 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