Americas Gold and Silver reports Q1 attributable silver production 0.5M ounces

Americas Gold and Silver Corporation announced Q1 production results. Q1-2023 consolidated attributable silver production totalled approximately 0.5 million ounces compared with approximately 0.3 million ounces in Q1-2022, representing a 66% increase year-over-year. Despite the large increase in silver production, Q1-2023 production was impacted by a two-and-a-half-week shutdown of the Cosala Operations tailings facility in February in order to perform remedial work on the decant tunnel. As a result of the shutdown, Q1-2023 consolidated attributable silver equivalent production was down approximately 8% to 1.2 million ounces, compared with Q1-2022. Silver and silver equivalent production is expected to increase cumulatively quarter-over-quarter for the remainder of the year. Production is expected to increase at both the Cosala Operations and the Galena Complex due to the mining of higher-grade silver zones with additional production benefits expected once the Galena Hoist becomes operational, which is expected before the end of Q2-2023. Production guidance for 2023 remains unchanged with consolidated attributable silver equivalent production expected to range between 5.5 and 6.0 million ounces and consolidated attributable silver production expected to range between 2.2 and 2.6 million ounces. Mining operations at the Galena Complex have resumed today after they were temporarily suspended for two days following a tragic incident that resulted in the fatality of a Company employee on April 11, 2023. "The Company had a strong operational start to the year, despite a 17-day operating shutdown in Mexico in February," stated Americas President and CEO Darren Blasutti. "The Company will continue on its positive silver production momentum and is reiterating its 2023 production guidance, with further production increases expected in 2024. These increases are anticipated to deliver solid organic production growth and offer substantial silver optionality to our stakeholders over the next several years."