1. HIGH-GROWTH,LOW-COST

PRECIOUS METALS COMPANY IN NORTH AMERICA

  • FIRST GOLD POUR COMPLETED AT RELIEF CANYON; Relief Canyon gold mine is expected to be in commercial production in Q4-2020
  • Multiple North American precious metal assets
  • Significant silver optionality through re-start at Cosalá and exploration results at Galena
  • Projecting significant increase in silver production given positive momentum in silver prices
  • Avg daily trading volume of ~3-4M shares
  • Dual-listedon the NYSE American and TSX for increased liquidity

+500% INCREASE IN PRECIOUS METAL PRODUCTION BY 2021*

INCREASING LEVERAGE TO PRECIOUS METALS

PRECIOUS METAL REVENUE

PRECIOUS METALS RESERVES

2021 OUTLOOK

2020 ACTUAL

2019

PRECIOUS METALS = 75%

2018

PRECIOUS METALS = 80%

ACTUAL

ACTUAL

25%

15%

23%

55%

77%

45%

85%

75%

Precious Metals

Precious Metals

Base Metals

Base Metals

* 2021 production outlook as per Americas February 18, 2020 press release assuming spot prices

UPSIDE POTENTIAL

RESERVES AND RESOURCES 1

40% 2020 YEAR TO DATE PERFORMANCE *

20%

0%

GDX

-20%

GDX-J

Premier

Wesdome

-40%

Gold

McEwen

Americas

-60%2019

Gold

JAN 2020

FEB 2020

MAR 2020

APR 2020

MAY 2020

JUN 2020

JUL 2020

AUG 2020

AMERICAS DISCONNECT FROM GOLD AND GOLD EQUITIES PROVIDES OPPORTUNITY

*Up to September 10, 2020. Premier and Wesdome converted from CAD to USD

P&P

M&I

INFERRED

Gold

610k oz

44k oz

27k oz

Silver

31M oz

52M oz

59M oz

Zinc

134M lbs

787M lbs

245M lbs

Lead

129M lbs

517M lbs

595M lbs

Copper

28M lbs

28M lbs

24M lbs

Note: Pro forma 2021 production based on 2021 outlook as per Americas February 18, 2020 press release; gold equivalent production and gold equivalent reserves calculated using spot prices (US$26.73/oz Ag, US$1,942/oz Au, US$0.85/lb Pb, US$3.06/lb Cu and US$1.11/lb Zn).

1. Reserves and Resources reflect the 60/40 JV with Eric Sprott. For further notes related to mineral reserves please refer to the company's website www.americas-gold.com

INVESTOR RELATIONS

Andrea Totino

www.americas-gold.com

Suite 2870, 145 King St. West

atotino@americas-gold.com

+1 416-848-9503

Toronto, ON M5H 1J8

TSX: USA | NYSE American: USAS

RELIEF CANYON, Nevada

ACHEIVED FIRST GOLD POUR FEBRUARY 2020

• Project acquired at $1,180/oz gold

  • Initial capital to first gold within budget of US$28-30 million
  • Expected annual production of ~90,000 oz Au at AISC of ~$800/oz; ~6-year initial mine life1
  • At current gold prices, Relief Canyon is a very high return project
  • Significant exploration upside; <20% of 11,700-ha land package explored to date
  • P&P reserves of 610,000 oz Au2 ; 24.8 Mt at 0.77 g/t
    1. July 2018 Feasibility Study available on the company's website at www.americas-gold.com.
    2. Resource is constrained to a $1,500 pit shell and is exclusive of reserves. For notes related to mineral reserves please refer to the company's website www.americas-gold.com.

COSALÁ OPERATIONS, Mexico

  • Ability to adjust metal production quickly to changing commodity markets
  • Large land package with exploration upside

SR Upper Zone

  • High Grade Silver
  • Low Grade Zinc & Lead

SR Main Zone

  • Low Grade Silver
  • High Grade Zinc & Lead

EC120

  • High Grade Silver
  • Low Grade Copper
  • San Rafael mine built on-time and under budget
  • At full production, exceeding pre-feasibility targets
  • 2019 production of 0.6 million silver ounces
    • Working towards restarting operation before year end
  • Over 1 million silver ounces expected in 2021
  • Potential to increase production to 2.5 - 3.0 million ounces in 2022
    • Involves development of SR Upper Zone and EC120 for marginal incremental capital

GALENA COMPLEX, Idaho

60/40 Joint venture with Eric Sprott

  • Significant increase to mineral resources1 based on initial drilling (100% of asset): P&P - 12 Moz Ag(-); M&I - 37.3 Moz Ag (up 36%); Inferred - 78.5 Moz Ag (up 100%)
  • Recapitalization plan that began in October 2019 is proceeding as expected with benefits in production, productivity and resource growth
  • Deepest loading pocket on 5500 level completed improving productivity; Extensive repair completed to 5500 and 4300 levels allowing diamond drill stations to test vein extensions at depth
  • Galena valuation based on analyst estimates is significantly undervalued compared to both developers and producers despite the fact that the mine has over $100 million in infrastructure in place with tremendous exploration potential
  • Drilling to date encouraging, Initial results reporting bonanza silver-grades2
  1. Reserves and resources amended as per 60/40 JV with Eric Sprott. For further information related to mineral reserves please refer to the company's website www.americas-gold.com.
  2. Please refer to company's website for additional drill results

CAPITAL STRUCTURE

TSX: USA | NYSE American: USAS

Common Shares116M

Market Capitalization

$336M

52 Week Spread

$1.00 - $3.92

Average Volume

~3.0-4.0M

SHARE OWNERSHIP

34%

Other Institutional

Sprott

44%

Pierre Lassonde

Sandstorm

Other Insiders

8%

Retail

1%

6%

7%

As at Sept.10, 2020. All figures are in USD unless otherwise stated

SIGNIFICANT PRECIOUS METAL GROWTH IN THE NEAR-TERM

2019

2020

2021

Close Acquisition

FIRST GOLD POUR

COMMERCIAL PRODUCTION

and Financing

RELIEF

Construction

Ramp-up

Steady-State Operations

CANYON

& Exploration

PRODUCTION

SAN RAFAEL

Steady-State/Optimization

Begin Mining High-Grade Ag

Upper Zone*

DEVELOPMENT

GALENA

Strategic Recapitalization Plan

Increased Production

EC120

Pre-Feasibility

Exploration Potential to Increase Size and Scale

Study Complete

* 2021 production outlook as per Americas February 18, 2020 press release assuming spot prices

TSX: USA | NYSE American: USAS

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Americas Gold and Silver Corporation published this content on 20 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2020 20:09:08 UTC