Slide 1: Galena Complex to be Consolidated and Paul Andre Huet to Become Chairman and CEO
AMERICAS GOLD AND SILVER GALENA COMPLEX TO BE CONSOLIDATED AND PAUL ANDRE HUET TO BECOME CHAIRMAN AND CEO October 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Safe harbor & other disclosures This presentation contains “forward-looking information” within the meaning of applicable securities laws. Often, but not always, forward-looking information can be identified by forward- looking words such as “anticipate”, “believe”, “expec
Slide 3: Transaction Highlights
Transaction Highlights • Americas Gold and Silver Corporation (“Americas”, the “Company”) to consolidate the Galena Complex by acquiring the remaining 40% interest pursuant to an agreement with an affiliate of Eric Sprott (“Sprott”) and Paul Andre Huet • Streamline operational and financial decision
Slide 4: Transaction Highlights (continued)
Transaction Highlights (continued) • The Company expects silver contribution to revenue of approximately 80% starting in the second half of 2025 Enhanced leverage to 4 silver in 100% Americas- • With the recently announced project funding for the EC120 Project at the Cosalá Operations in Mexico and
Slide 5: Key Transaction Terms
Key Transaction Terms • Americas has entered into an agreement with Sprott and Paul Andre Huet under which Americas will acquire the remaining 40% Transaction interest in the Galena Complex (the “Transaction”) • Upfront consideration of approximately US$60 million in the form of: o US$10 million in
Slide 6: Americas Portfolio: Asset overview map
Americas Portfolio Asset overview map Galena Complex Cosalá Operations 6
Slide 7: Consolidation of the Galena Complex
1 Consolidation of the Galena Complex • Long-term cornerstone asset supported by a robust reserve and resource base • Galena hoist operational with shaft repair remaining; expected to increase operational production & flexibility as early as 2025 • Significant infrastructure in place with two mills,
Slide 8: Consolidation of the Galena Complex: Historical production
1 Consolidation of the Galena Complex Historical production Galena Complex silver production since 2000 (Moz Ag) Year: 2002 Ag production: 5.3 Moz Ag grade: 800 g/t 6.0 Throughput: 653 stpd 900 800 5.0 700 4.0 600 Focus on base metals during period of low silver prices Silver production (Moz) Ag gra
Slide 9: Americas plans to make significant investments in its cornerstone asset
1 Consolidation of the Galena Complex Americas plans to make significant investments in its cornerstone asset • Complete refurbishment of final 400 ft of the Galena shaft followed by recommissioning Mine • Optimize hoist schedules and shift schedules to improve efficiency, productivity and safety op
Slide 10: Improved Balance Sheet
2 Improved Balance Sheet Estimated pro forma cash position of US$35+ million Key pro forma balance sheet items Cash US$mm $36 Sandstorm metals contract liability[1] US$mm $43 New debt[2] US$mm $40 Silver payments (18.5koz Ag per mo. starting Jan-2026) Pro forma cash position (US$ million) Targeted r
Slide 11: Expanded Leadership Team – Track Record of Success
3 Expanded Leadership Team – Track Record of Success Outperformance Equity value Key Achievements vs. GDXJ[1] (US$mm) $462 ✓ Took control of orphaned development asset (Fire Creek) in 2012 via proxy – asset was misunderstood and struggling under prior management with no milling solution ✓ Reworked r
Slide 12: Enhanced Leverage to Silver in 100% Americas-focused Vehicle
4 Enhanced Leverage to Silver in 100% Americas-focused Vehicle Significant silver exposure relative to peers Silver share of 2023 revenue (%) 100% ~80% 74% 65% 58% 51% 49% 46% 39% 38% 35% Aya USA MAG Endeavour Silvercorp First Majestic USA Fresnillo Hecla Hochschild Coeur (expected, Silver Silver (P
Slide 13: Supportive Shareholder Base
5 Supportive Shareholder Base Eric Sprott to become a cornerstone investor Pro forma shares outstanding Pro forma ownership[3] Outstanding AGS shares mm 268 Management & (+) Share consideration mm 170 directors [4] 6.0% (+) Concurrent equity offering[1] mm 100 PF basic shares outstanding mm 538 Eric
Slide 14: Attractive Value Proposition
6 Attractive Value Proposition Relative positioning versus silver peers • Attractive current valuation compared to silver producing peers • Americas is valued at ~0.3x NAV based on consensus estimates[1][2] • Intermediate to senior silver producers traded at an average of ~1.3x Market capitalization
Slide 15: Additional Materials
Additional Materials HY AMERICAS GOLD AND SILVER
Slide 16: Galena Complex: Significant exploration potential
Galena Complex Significant exploration potential at surface, depth and to the East Not to scale Coeur Shaft Galena Shaft No. 3 Shaft Caladay Shaft Ag OPT 2400 Lvl 3400 Lvl 4900 Lvl Long Section View Limited drilling Down Looking North Plunge of Trend 16
Slide 17: Coeur D'Alene Mining District
Coeur D’Alene Mining District 17
Slide 18: Galena Complex
Galena Complex Galena Complex is one of the shallowest operations in the Silver Valley • Depth of development not impacted by faulting or other geologic structures; development and drilling stopped due to lack of capital amid silver price bear market 18
Slide 19: Cosalá Operations Overview
Cosalá Operations Overview • Operating at full production rate of ~1,800 tpd • Completed agreement with Trafigura PTE Ltd. for up to US$15 million to Ownership 100% Americas develop EC120 • Full production expected in Q3-2025 2023: 1.1 Moz Ag (3.3 Moz AgEq) • Plans to increase annual silver producti
Slide 20: Cosalá Operations: Property underexplored
Cosalá Operations Property underexplored with significant targets identified based on new study – drill campaign planned • Cosalá Operations underexplored since acquisition of Scorpio Mining • Recently reinterpreted historic geophysical information • Identified several geomagnetic targets on propert
Slide 21: Pro Forma Mineral Reserves & Resources
Pro Forma Mineral Reserves & Resources Proven and Probable Mineral Reserves Silver Mineral Reserves Proven Probable Proven and Probable Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (kt) (g/t) (koz) (kt) (g/t) (koz) (kt) (g/t) (koz) Total Silver 783 254 6,382 4,638 216 32,138 5,420 221
Slide 22: Notes for Mineral Reserves and Resources Estimates
Notes for Mineral Reserves and Resources Estimates The scientific and technical information relating to the operation of the Company’s material operating mining properties contained herein has been reviewed and approved by Chris McCann, P.Eng., VP Technical Services of the Company. The Company’s cur
Slide 23: Contact Information
Contact Information: Stefan Axell VP, Corporate Development & Communications +1 (416) 874-1708 Darren Blasutti President and CEO +1 (416) 848‐9503