USA.TO · 2018-02-26 12:00:00

Americas Silver Corporation Provides an Update ON Zone 120 Exploration Drilling

Exploration Programs

AMERICAS SILVER CORPORATION PROVIDES AN UPDATE ON ZONE 120 EXPLORATION DRILLING

TORONTO, ONTARIO—February 26, 2018 —Americas Silver Corporation (TSX: USA) (NYSE “American”:

USAS) (“Americas Silver” or the “Company”) is pleased to provid e an update of year to date exploration

results at its 100% owned Zone 120 deposit, which is adjacent to the San Rafael mine and part of the Cosalá

Operations property in Sinaloa, Mexico.

Highlights of the 2018 program include:

 Hole SR‐402, with 16.91 meters grading 138 g/t Ag, 0.23 g/t Au and 0.43% Cu (204g/t AgEq)2

 Hole SR‐409, with 2.0 meters grading 920 g/t Ag, 0.40 g/t Au and 2.36% Cu (1,218g/t AgEq)

 Hole SR‐415 with 23.4 meters grading 259 g/t Ag, 0.40 g/t Au and 0.5% Cu (345g/t AgEq)

 Hole SR‐415 with 7.2 meters grading 335 g/t Ag, 0.23 g/t Au and 0.55% Cu (413g/t AgEq)

 Hole SR‐416 with 12.6 meters grading 119g/t Ag, 0.17g/t Au and 0.29% Cu (165g/t AgEq)

 Hole SR‐417 with 21.7 meters grading 124g/t Ag, 0.21g/t Au and 0.34% Cu (178g/t AgEq)

 Hole SR‐420 with 29.2 meters grading 115g/t Ag, 0.12g/t Au and 0.42% Cu (173g/t AgEq)

“Recent drilling continues to expand the footprint of Zone 120,” stated Darren Blasutti, President and CEO

of Americas Silver Corporation. “These results have increased o ur confidence that Zone 120 will become

a n i m p o r t a n t p a r t o f t h e C o m p a n y ’ s n e a r ‐ t e r m f u t u r e . W e e x p e c t that evaluation of development

scenarios will start immediately after all new drilling data ha s been incorporated into an improved mid‐

year resource estimate.”

2018 Zone 120 Exploration Interim Drilling Results

Exploration drilling ramped up in early January at the Cosalá Operations property and is expected to finish

in mid‐April 2018. Just over half of the initial 12,000 meter program has been completed and three rigs are

currently active at the project site. Drilling has tested the northwest extension of k nown mineralization,

provided in‐fill data in support of an upcoming mid‐year 2018 resource estimate update and tightened up

drill spacing in the southeast end of known mineralization. On going interpretation of the data indicates

the presence of a significant mi neralized system consisting of multiple lenses over mineable widths and

strike lengths. The drilling in Q4, 2017 and 2018 year to date has extended the deposit both along strike

and down‐dip and it remains open in both directions. It has als o extended the deposit by 150 metres in

both length and width so that the mineralized footprint now cov ers an area of approximately 600 meters

by 300 meters.

Table 1 presents the latest significant results received between January 1 and February 20, 2018. The

Company expects to regularly release information as batches of samples are processed. Holes 402, 409,

410 and 415 were previously included in the January 29, 2018 pr ess release. Data for holes SR‐416, 417

and 420 are included in Table 1. A complete summary of the dril l results can be found on the Company’s

website at www.americassilvercorp.com.

1 True Width

2 Silver Equivalent (AgEq) is calculated using prices of $18.00/oz Ag, $1,300/oz Au and $3.00/lb Cu

Table 1: Year to Date 2018 Drilling

Hole From

(m)

Interval

(m)

True Width

(m)

(g/t)

(%)

Ag Eq

(g/t)

SR‐416 175.0 188.0 13.0 12.6 0.17 119 0.29 165

Including 180.4 181.5 1.1 1.1 0.03 338 0.91 445

Including 184.5 185.4 0.9 0.9 0.53 336 0.62 445

SR‐416 250.5 276.5 25.9 23.6 0.14 54 0.13 79

Including 258.3 259.3 0.9 0.9 0.08 100 0.33 143

Including 261.9 263.7 1.8 1.6 0.08 100 0.26 135

SR‐416 279.9 285.1 5.2 5.1 0.15 71 0.19 103

SR‐417 254.0 277.2 23.2 21.7 0.21 124 0.34 178

Including 261.7 262.9 1.2 1.2 0.82 686 1.83 953

Including 263.7 265.0 1.2 1.2 0.63 490 0.84 631

SR‐417 293.6 300.2 6.5 6.1 0.24 199 0.45 268

Including 293.6 295.1 1.4 1.4 0.36 283 0.35 349

Including 297.9 299.3 1.3 1.3 0.29 352 1.05 492

SR‐417 310.0 317.1 7.1 6.7 0.29 232 0.59 320

Including 316.1 317.1 1.0 1.0 0.76 740 1.54 971

SR‐417 320.4 326.2 5.8 5.4 0.12 119 0.29 161

Including 323.5 324.9 1.3 1.3 0.26 315 0.66 409

SR‐420 300.0 305.9 5.9 5.6 0.04 63 0.34 105

SR‐420 385.4 416.8 31.3 29.3 0.12 115 0.42 173

Including 387.8 389.0 1.6 1.5 0.57 912 2.46 1,234

Holes 419, 421, 423, 424 and 425 have assays pending and are ex pected to be released in the next few

weeks.

Figure 1: Year to Date 2018 Drilling

Zone 120 is hosted in a package of volcanically derived sediment a r y r o c k s w h i c h a l s o c o n t a i n c l a s t s o f

surrounding calcareous sediments. This package sits above a Cretaceous Batholith which represents a floor

to potential mineralization. The volcanic package is intruded b y a complex series of andesitic sills which

occasionally cross stratigraphy on fractures, faults, or zones of weakness before continuing on bedding.

Mineralization is in skarn and hornfels with skarn being the mo re productive alteration package.

M i n e r a l i z a t i on i s o r i e n t e d p a r a l l e l t o b e d d i n g a n d c o n s i s t s o f disseminated tetrahedrite/tennantite and

chalcopyrite with significant concentrations of silver. Silicified hornfels and unaltered limestone create

impermeable barriers to mineralization. Grade and width of mineralization is roughly correlated to the

thickness and proximity to the late andesitic sills and dikes. A typical cross section is provided in Figure 2.

Figure 2: Typical Zone 120 Cross Section

Technical Information

Drill core samples are prepared at the Company’s secure facilit y in Cosalá, Sinaloa. Assaying was done by

ALS Chemex Labs in Hermosillo, Mexico. 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 has acquired 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 Zone 120), 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:

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

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