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Galena Exploration Actively Drilling Near Mine Targets

Galena Exploration Actively Drilling Near Mine Targets

TORONTO – Americas Gold and Silver Corporation, President and CEO, Darren Blasutti, said, “The Company had its strongest quarter of the year in Q4-2023 and delivered an impressive 56% increase in silver production year-over-year. Despite the Company falling just short of its guidance, I’m proud of how the operational teams performed given the 45 days lost in the calendar year from unforeseen issues that are now behind us. Not only is attributable silver production expected to grow significantly again in 2024, but the Galena Complex exploration program continues to generate impressive results which the Company is confident will yield near term mining targets. We are excited by the scale of some of the targets that could generate new production areas that can be exploited by bulk mining methods as well as areas of exceptional grade.”

The Galena Complex has been actively drilling near mine exploration targets with exciting results including an area between the 4600 Level and 4900 Level which had previously been a gap in drilling and has been consistently returning high-grade intercepts of attractive Ag-Cu veins. A drill campaign was completed from the 4600 Level to infill a gap in the 360 Complex and this program was successful in proving the continuity of the 360 Complex mineralization between 4600 and 4900 Level. Active drilling on the 4300 level has been critical to defining the upper extents of the 360 Complex and has also led to the eastward extension of the 360 Complex which contains several intercepts of wide veins contained within a larger package of disseminated mineralization. Recent drilling from the 5200 Level targeting the 55 Vein has uncovered high-grade intercepts of previously unknown veins which are close to existing infrastructure.

Two programs were active in the period from a drill platform near the 4600 Level. The first infill drill program above the 4600 Level targeting the Lower Country Lead Zone has been completed and added confidence to near-term mine plans of this area. The second program, which remains active, has intercepted impressive grades of Ag-Cu veins in the Central Zone in an area that currently contains no mineral resources. This drilling has shown down dip extensions of veins previously mined above the 4600 Level and the proximity to existing infrastructure on 4600 and 4900 Levels gives these early results a high potential to add near-term mineable resources to the Galena Complex with additional infill drilling.

Drilling from the 4300 level has targeted the upper levels of the 360 Complex and recent drilling to the east has encountered several promising thick intercepts of veins within a larger package of stacked veins and disseminated mineralization beyond the known mineral resource in the area. The wide intercepts of economic grades create the potential of extraction via more productive bulk mining methods if future infill drilling programs are successful in defining this area as a mineral resource. Due to limitations of the Termite drill and the existing drilling platform, this new vein package is open along strike to the east and plans are being developed to add additional drilling with a Hagby drill from platforms from the 4300 Level and 4600 Level to build upon current understanding of this zone and define the lateral and vertical extents of the mineralization.

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