USAS · Americas Gold and Silver Corporation

This 6-K filing delivers a materially positive operational update centered on Americas Gold and Silver’s first-quarter 2026 performance, anchored by record silver production and sales — the highest quarterly totals in company history. The 76% year-over-year increase in silver produced (787,000 oz vs. 446,000 oz in Q1 2025) is directly attributed to accelerated ramp-up at the Galena Complex following its revitalization, including early adoption of Long Hole Stoping, and sustained output from Cosalá Operations. Notably, silver sold (830,000 oz) exceeded production due to a positive timing adjustment on concentrate sales — indicating improved commercial execution and inventory monetization, not just volume growth. Management explicitly ties this progress to concrete capital projects now underway: the Phase 2 No. 3 shaft upgrade (targeting ~105 stph hoisting capacity, a ~160% increase over 2024’s 40 stph baseline) and commencement of the surface paste fill plant — both designed to reduce stope cycle times and support higher tonnage throughput. The $122.6 million cash balance as of March 31, 2026 confirms robust liquidity, enabling continued execution of the growth plan without near-term financing risk. Critically, the Company reaffirmed its full-year 2026 guidance of 3.2–3.6 million ounces of silver production and all-in sustaining costs of $30–$35/oz, explicitly noting production and cost improvements will be weighted to the second half — consistent with the planned timing of major infrastructure completions. The achievement of one full year without Lost Time Accidents at both Cosalá and Galena further de-risks operations, reducing exposure to regulatory intervention, labor disruption, or insurance cost inflation. Collectively, these disclosures signal that Americas is transitioning from project execution to measurable, scalable output — validating the strategic pivot initiated with the 2024 Galena acquisition and reinforcing investor confidence in its path to becoming a leading North American silver and U.S. antimony producer.