Americas Gold and Silver Reports Positive Q2 2025 Results and Provides Development Update on Operational Improvements and Projects Underway

Executive Summary

• Consolidated silver production rose 36% YoY to 689,000 oz (≈839,000 Ag Eq oz), but revenue fell 19% to $27.0 M and net loss widened to $15.1 M versus a $4.0 M loss in Q2‑2024.
• Executed a senior secured term loan facility up to $100 M with SAF Group; the first $50 M tranche was received in June 2025.
• Strong operational highlights: antimony recovery >90%, new underground equipment installed, expansion of decline and shaft hoist motor components arriving for Q4‑2025 installation; multi‑metal offtake agreement with Ocean Partners at Teck’s Trail smelter; high‑grade intersection of 983 g/t over 3.4 m in vein 034.

Key Details

• Production & Sales
• Silver: 689,000 oz (Q2‑2025) vs 506,000 oz (Q2‑2024).
• Zinc: 1.5 M lb (down from 8.9 M lb); Lead: 0.2 M lb (down from 2.6 M lb).

• EC120 pre‑production contributed 211,000 oz of silver and $8.3 M of revenue.

• Financial Metrics

• Consolidated revenue: $27.0 M (−19% YoY).
• Cash & cash equivalents: $61.7 M; working capital deficit: $28.7 M.
• Cost of sales per Ag‑Eq oz: $27.99; cash cost per oz: $26.64; all‑in sustaining cost per oz: $32.89.

• Net loss: $15.1 M (adjusted loss $12.1 M); Adjusted EBITDA: −$4.054 M.

• Financing

• Senior secured term loan facility with SAF Group, up to $100 M; first tranche $50 M received June 2025.

• Metallurgical & Offtake Updates

• Antimony recovery >90% in testwork; potential marketable concentrate identified.

• Multi‑metal offtake agreement with Ocean Partners for processing up to 100% of Galena concentrates at Teck’s Trail smelter.

• Exploration Results

• New vein 034 intercept: 983 g/t Au (assumed) over 3.4 m, targeting 1.2‑1.5 M oz Ag resource.

• Capital Projects & Equipment

• Installation of new underground hoist motor and loader at Galena.
• Expansion of decline 55‑179; first long‑hole stope mined; Alimak vent raise completed, second underway.

• Shaft replacement hoist motor components on site; installation planned Q4‑2025.

• Corporate

• Inclusion in Solactive Global Silver Miners Index (effective May 1 2025).
• Board appointment: Shirley In’t Veld joins the Board of Directors effective immediately.
• Share consolidation plan announced (2.5 pre‑shares → 1 post‑share); filing to occur ~Aug 21 2025, pending TSX/NYSE‑American approvals.

Notable Quotes

• Paul Andre Huet, Chairman & CEO: “Securing the US$100 million debt facility in June represents a major milestone… we expect incremental production increases and lower costs as we progress through a transformative investment year in 2025.”
• Huet (continued): “Our metallurgical testing confirmed high recoveries of antimony and copper, positioning us as the only current U.S. antimony producer and unlocking a new revenue stream.”