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Americas Gold & Silver is a growing precious metals mining company with key assets in North America, focused on becoming a leading silver producer. In December 2024, the company acquired full 100% ownership of the Galena Complex in Idaho, USA, from 60%, in a deal with Eric Sprott – who holds ~20% as the largest shareholder – and a new management team led by Chairman & CEO Paul Huet. Americas also owns the Cosalá Operations in Mexico.

Recent strategic financings, including a C$50M bought deal (October 2024), a US$100M term loan (June 2025), and a $11.5M private placement from Ocean Partners, fully fund Galena's growth.

At Galena, Phase 1 No. 3 Shaft upgrades completed ahead of schedule in September 2025 doubled hoisting capacity, while Long Hole Stoping reintroduction has the potential to reduce mining costs by up to 40%. Targeting a return to >5M oz/yr silver production – restoring 2002 peaks – leverages high-grade discoveries like the 149 Vein (24,913 g/t Ag) and a massive ~200M oz silver resource. In September 2025, a breakthrough achieved >99% extraction of antimony, and as the only U.S. antimony producer, Galena has historically produced 20M+ lbs (~US$500M value) and recently (for the first time) reported a record 447,466 lbs of antimony produced YTD, unlocking a lot of potential revenue. Americas is evaluating options, including conversations with the U.S. Government, to potentially accelerate the development of a new U.S. antimony refinery. A 5-year multi-metal offtake agreement with Ocean Partners routes Galena concentrates to Teck's Trail Operations, making antimony payable from January 2026.

Q3 2025 silver production soared 98% YoY to 765,000 oz, driven by Galena efficiencies and Cosalá’s EC120 transition. Cosalá's EC120 zone is expected to reach full production by EoY. Americas is poised as a top North American silver play through efficiency, exploration, and critical minerals.

Management Profile

Oliver Turner, EVP Corporate Development

With 15+ years of senior leadership, capital markets, and mining experience, Oliver has held key roles at Karora Resources, GMP Securities, and Wardrop Engineering (now Tetra Tech). At Karora, he was EVP, Corporate Development prior to its 2024 merger with Westgold. At GMP he was SVP, Mining Equity Research.​ A co-founder of Invert Inc., a $100M carbon reduction company, he holds a Mining Engineering degree from Queen's, studied at London Business School & is a CFA charterholder with the ICD.D designation.​​

What are your key goals for the next 3, 6 and 12 months?

3 Months

• Complete Phase 2 upgrades to Galena’s No. 3 Shaft, including lilies, braking, hoisting console, and leaky feeder communications, to further enhance efficiency and support increased ore throughput.
• Achieve >80% of revenue from silver across operations, driven by Galena's ramp-up and Cosalá's EC120 zone nearing full production by year-end.
• Finalize updated Mineral Resource Estimate (MRE) for Galena, incorporating recent high-grade discoveries in the 149 and 034 veins to highlight polymetallic upside.
• Transition antimony to payable by-product status under the re-negotiated Teck offtake starting January 2026, unlocking initial revenue from Galena concentrates.

6 Months

• Fully integrate Long Hole Stoping (LHS) at Galena with paste fill system engineering underway, targeting 40% cost reductions per ton and faster stope cycles to scale production toward 5M+ oz/yr silver.
• Ramp Cosalá's EC120 silver-copper zone to full commercial production, optimizing zinc/lead output and contributing to consolidated silver growth exceeding Q2 2025's 54% quarterly increase.
• Advance Phase 3 technical/trade-off studies for commercial antimony recovery at Galena, including initial resource delineation to support grant applications for a Silver Valley refinery.
• Deploy remaining new equipment (10+ trucks, muckers, and drills) at Galena to drive operational efficiencies and mitigate risks from narrow vein mining.

12 Months

• Restore Galena silver production to historical peaks of over 5M+ oz/yr, leveraging 55+ miles of tunnels, four shafts, and mill upgrades to process higher throughput while maintaining safety gains from LHS.
• Secure government/Exim grants for antimony refinery development in Silver Valley, enabling production of premium military/industrial products at prices far exceeding Teck offtake values.
• Expand resources through 2026 surface drilling on underexplored patented ground at Galena using modern geophysics/geochemistry, targeting extensions of high-grade tetrahedrite zones.
• Strengthen overall growth by following up on Cosalá exploration targets and integrating antimony credits to enhance shareholder value in a rising silver market.

What do you think makes your company such a compelling investment?

We are set up for a perfect turnaround story, doing what we do best and what the team has already done in the past with Karora (sold for $1.3B) and Klondex (sold for $800M).