Americas Gold produces 765,000 oz Ag in Q3 2025

Executive Summary

• Americas Gold and Silver Corp. reported a 98% year-over-year increase in consolidated silver production for Q3 2025, totaling 765,000 ounces, driven by efficiency improvements at the Galena complex and higher-grade ore transitions at Cosala.
• Lead production increased 23% quarter-over-quarter to 2.3 million pounds, achieved despite a planned 10-day shutdown for shaft upgrades at Galena.
• The company reported a consolidated cash balance of $39 million as of September 30, 2025, with $50 million remaining undrawn on its credit facility, citing increased capital investments for growth initiatives.

Key Details

• Silver Production:
  • Q3 2025: 765,000 ounces (up 98% from 386,000 ounces in Q3 2024; up 11% from 689,000 ounces in Q2 2025).
• Lead Production:
  • Q3 2025: 2.3 million pounds (up 23% from 1.9 million pounds in Q2 2025).
• Operational Drivers:
  • Galena Complex (Idaho): Efficiency improvements included improved underground development rates, reintroduction of long-hole stoping, replacement/upgrades of the underground mining fleet, and improved skipping capacity on the No. 3 shaft.
  • Cosala Operations (Mexico): Continued transition into the higher-grade EC120 zone.
  • Galena Shutdown: A planned 10-day shutdown was conducted to complete phase 1 upgrades to the galena No. 3 shaft.
• By-Product Production (Year-to-Date at Galena):
  • Antimony: 447,466 pounds.
  • Copper: 615,817 pounds.
  • Antimony:Copper Ratio: Averaged 0.73 year-to-date.
• Financial Position:
  • Consolidated Cash Balance (Sept 30, 2025): $39 million (U.S.).
  • Change in Cash: Decrease of $23 million (U.S.) compared to June 30, 2025.
  • Reason for Decrease: Increased capital investments supporting planned growth initiatives.
  • Credit Facility: $50 million (U.S.) remaining undrawn.

Notable Quotes

• Paul Andre Huet, Chairman and CEO: "I am extremely pleased with our progress during the third quarter in which production notched an 11-per-cent improvement on the prior quarter... It is important to note that Galena achieved a quarter-over-quarter production improvement despite a 10-day shutdown conducted to complete phase 1 of the upgrades to the No. 3 shaft, a tremendous achievement."
• Paul Andre Huet, Chairman and CEO: "The strong third quarter production results and our robust balance sheet... have us well positioned to continue to execute on our operational strategy to increase production, lower costs and unlock the massive potential of our asset base for our shareholders."