TORONTO, ONTARIO - March 9, 2020 - Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), a growing North American precious metals producer, today reported consolidated financial and operational results for the year ended December 31, 2019 and provided a general update on the operations.

This earnings release should be read in conjunction with the Company’s Management’s Discussion and Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on the Americas Gold and Silver Corporation SEDAR profile at www.sedar.com, on its EDGAR profile at www.sec.gov, and are also available on the Company’s website at www.americas-gold.com. All figures are in U.S. dollars unless otherwise noted.

Year-End and Operational Highlights
•Revenue of $58.4 million and net loss of $34.2 million for the full-year of 2019 or ($0.46) per share, a decrease of $10.0 million in revenue and an increase in net loss of $23.5 million compared to year-end of 2018. Adjusted net income[1] was $23.3 million prior to one-time adjustments or ($0.30) per share
•Previously reported year-end consolidated production[2] of approximately 5.8 million silver equivalent ounces[3] and 1.2 million silver ounces, representing decreases of 7% and 18% year-over-year to both silver equivalent ounces and silver ounces, respectively. Galena silver production for the fourth quarter was not included as a result of the start of the Recapitalization Plan accounting for the majority of the production decreases year-over-year.
•Previously reported year-end consolidated cash costs[4] of $4.61 per silver ounce and all-in sustaining costs[4] of $12.71 per silver ounce, both representing increases year-over-year.
•Successfully poured first gold in February 2020 at the Company’s Relief Canyon mine in Nevada and completed initial construction estimated to be within the guidance of $28 - $30 million.
•Mined tonnage at Relief Canyon is tracking ahead of schedule and the ore stacking rate is ramping up. To date, the operation has over 250,000 tonnes of ore placed on the leach pad with commercial production expected before the end of Q2-2020.
•With the addition of Relief Canyon, precious metals production is expected to increase by over 300% in 2020 to 60,000 – 70,000 Gold Equivalent Ounces[5] (“GEO”) and by over 500% in 2021 to 90,000 – 110,000 GEOs compared to approximately 14,000 GEOs produced in 2019.
•The Company has tremendous support from employees and contractors at the Cosalá Operations following the illegal blockade of the operations. The Company continues to actively engage with all levels of Government regarding the illegal blockade and hopes to resolve the dispute by the end of Q1-2020.
•The Galena Complex Recapitalization Plan began in mid Q4-2019 and continues into 2021. The joint venture has purchased new equipment, refurbished existing equipment and completed extensive re-development in the 4300 and 5500 Levels. Over 10,000 feet of new drilling has been completed with several promising targets being evaluated. The operation has already begun to experience an increase in production rates over 2019.
•The Company had a cash balance of approximately $20.0 million as at December 31, 2019.

“The Company delivered Relief Canyon to first gold pour within nine months from the commencement of construction; an impressive accomplishment for our team in a short period of time,” said Americas President & CEO Darren Blasutti. “Relief Canyon is expected to significantly increase precious metal exposure by 500% by fiscal 2021 and increase the overall profitability of the Company as we deliver full production into a rising gold price environment after successfully acquiring the gold asset when gold was trading at less than $1,200 per ounce in early 2019. The Cosalá Operations successfully executed its production plans for the year increasing mill tonnage to over 1,750 per operating day, and increasing production of precious and by-product metals. The Galena Recapitalization Plan is being executed as planned with the purchase and delivery of essential equipment and drilling commencement. The Company is well positioned for the continued transition to a profitable, high-growth, precious metals producer as Relief Canyon ramps up.”

Consolidated Financial and Operational Results
see & read more on
https://www.americas-gold.com/news-releases/2020/americas-gold-and-silver-corporation-reports-full-year-2019-financial-results/