Americas Gold & Silver Reports Q2 Silver Production Of 665,000 Ounces And Copper Production Of 850,000 Pounds

Americas' unaudited consolidated cash balance as at June 30, 2026 was US$89 million, in line with expectations as the Company continued to deploy capital into its revitalization and growth plan and the completion of the previously announced agreements to remove variable future debt obligations (see Americas news release dated June 11, 2026).

Paul Andre Huet, Chairman and CEO, commented: "Late in the second quarter we reached a significant milestone in our aggressive growth initiatives with the completion of Phase 2 of the No.

3 Shaft modernization program at the Galena Complex.

I am very pleased to announce that in July, following the completed upgrades to No 3.

Shaft, Galena achieved record skipping rates with 125 skips hoisted over a 12-hour hoisting period.

While not steady state, this achievement is a strong demonstration of the ramping future impact of our fully upgraded primary skipping shaft.

Combining Phase 1 and 2, the No.

3 Shaft upgrades have increased total hoisting capacity by approximately 150% and increased skipping payloads by 40%, which is critical to supporting growth as we ramp up underground mining rates.

The impact of these upgrades is mine-wide: at Coeur we have been able to lower and rebuild critical equipment down our upgraded Coeur shaft which has, for the first time in many years, enabled ore production to continue uninterrupted at our primary No 3.

Shaft.

Together, these achievements are a testament to the transformational work underway by our team at Galena.

Consolidated second quarter silver production was 664,971 ounces, 15% lower than Q1, partially due to the impact of an electrical fire at Galena that briefly interrupted production and deferred access to a planned high-grade stope into Q3 as we previously disclosed on June 25th.

At Cosalá, we delivered another strong quarter with silver production of 337,270 ounces placing us in strong position as we head into the second half of the year.

On a consolidated basis in the first half of 2026, silver production stands at 1.5 million ounces, in line with our 2026 budget, which is weighted toward higher production in H2 2026 as we continue to ramp up operations in Idaho as planned.

Overall, Americas' aggressive growth trajectory remains on track to deliver full-year 2026 silver guidance of between 3.2 to 3.6 million ounces at all-in sustaining costs1 of US$30-US$35 per ounce.

As previously indicated, the Company expects full year production to be weighted to the second half of the year with associated lower costs.

Our cash balance is also tracking directly in line with our budgeted spend as we continue to invest in the growth of our operations.

During the second quarter we eliminated over US$85 million in variable future debt obligations at a very compelling equity valuation with the termination of our silver delivery obligations and settlement of gold our gold delivery obligations.

The removal of these legacy liabilities serves to significantly increase our leverage to the silver prices, strengthens our balance sheet, simplifies our income statement, and reduces future cash debt service costs, allowing us to focus on our aggressive growth plans.

Overall, the continued transformation of the business continues at a rapid pace as we lay the foundation for significant cash flow generation as we deliver multiple critical metals supporting the AI, electrification, national security, and advanced manufacturing businesses in the United States for years to come."