Americas Gold and Silver Delivers a 98% Increase in Quarterly Silver Production as Part of Strong Q3 2025 Operating Results

The October 20, 2025 press release reports strong Q3 2025 operating results. Key highlights include: * Consolidated Silver Production: 765,000 ounces, representing a 98% increase compared to Q3 2024 and an 11% increase over Q2 2025. * Consolidated Lead Production: 2.3 million pounds, a 23% increase compared to Q2 2025. * Operational Achievement: This production increase was achieved despite a planned 10-day shutdown at the Galena Complex for Phase 1 upgrades of the No. 3 Shaft. * Cash Position: The company reports a cash balance of $39 million. * Management Commentary: The CEO, Paul Andre Huet, expressed extreme satisfaction with the quarterly progress, highlighting that the operational and engineering work at the Galena Complex in Idaho is now delivering tangible results.

This news is materially positive as it provides the strongest evidence to date that the operational turnaround plan initiated in late 2024 is being executed successfully and ahead of expectations.

To understand the full context, we must review the company's progression over the past year: * The Catalyst (Oct-Dec 2024): The company was recapitalized through a C$50 million financing at a pre-consolidation price of C$0.40. It consolidated 100% ownership of the Galena Complex from Eric Sprott (who became the largest shareholder) and appointed veteran mining executive Paul Andre Huet as CEO. This was the pivotal moment that set the stage for the turnaround. * The Plan (Early 2025): The new management team laid out a clear plan to revitalize the Galena mine by addressing key bottlenecks, primarily the No. 3 shaft's hoisting capacity. They also initiated studies to unlock value from previously penalized or overlooked by-products like copper and antimony. * Execution (Mid-2025): Throughout 2025, the company has consistently delivered on its promises. In June, it secured a $100 million debt facility to fully fund its growth plans. In August, Q2 results showed a 54% quarter-over-quarter (QoQ) increase in silver production. In September, the company announced the completion of Phase 1 of the No. 3 shaft upgrade ahead of schedule, resulting in a 100% improvement in skipping capacity. * Today's News: The Q3 production figures build directly on this momentum. An 11% QoQ increase in silver production to 765,000 ounces is a solid step forward. Achieving this growth despite a 10-day shutdown for the shaft upgrade is particularly impressive and demonstrates a significant improvement in underlying operational efficiency. This is not just a plan on paper; it is a plan delivering real, incremental production gains.

While the production numbers are strong, the drop in cash from $61.7 million at the end of Q2 to $39 million is notable. This implies a quarterly cash burn of approximately $22.7 million. This is likely driven by the aggressive capital expenditure program to fund the turnaround. While the current cash balance is sufficient for short-term needs, the market will be keenly watching for this burn rate to decrease and for the company to reach free cash flow positivity as production continues to ramp up and unit costs decline.

Overall, this news significantly de-risks the execution story. It confirms the turnaround is on track and that the investments made are yielding the expected results, justifying the stock's significant re-rating over the past year.

Americas Gold and Silver Corporation is a North American precious metals producer with two operating assets: the Cosalá Operations in Sinaloa, Mexico, and the Galena Complex in Idaho, USA.

Following a major recapitalization and change in management in late 2024, the company's flagship project is the revitalization and expansion of the 100%-owned Galena Complex. This historic silver mine is undergoing significant operational upgrades to increase production, improve efficiency, and lower costs. A key strategic initiative is to unlock the value of antimony, a critical mineral for which Galena is the only currently producing mine in the United States. The company aims to shift its revenue profile to be over 80% from silver.