Americas Gold and Silver Corporation (TSX: USA) (NYSE American:
USAS) (“Americas” or the “Company”) hosted an official opening
ceremony for the Company’s Cosalá Operations on Friday, January 21,
2022.
The ceremony included the Company’s President and CEO, Darren
Blasutti, the Mexican Minister of Economy, Tatiana Clouthier, the
Governor of the State of Sinaloa, Rubén Rocha Moya and the Cosalá
Mayor, Carla Corrales.
All three government representatives spoke passionately about
the importance of the mine to the local community, the Sinaloa
state and the Country. They thanked the Company for its
perseverance during the illegal blockade and the commitment of
capital to re-open the mine. In addition, they pledged their
support and resources to keep the mine open permanently. The
inclusion of these high-ranking government officials demonstrates
the tremendous support for the Cosalá Operations as well as the
strengthened relationship between the Company and all levels of
government to ensure stable conditions for the operations moving
forward.
“I was pleased to personally welcome the Mexican Minister of
Economy and the Governor of the State of Sinaloa to the San Rafael
Mine in Cosalá and to witness firsthand their tremendous support
for the mine and the community of Cosalá. They appreciated our
commitment to the local community and promised to enforce all
conditions required to allow for stable and profitable operations
moving forward,” stated Americas Gold and Silver President &
CEO Darren Blasutti. “Following a challenging 19 months during the
illegal blockade, I would like to thank our workforce for all their
efforts in an efficient and effective return to operations. The
plant is now operating at the targeted level of production which,
combined with the current metal prices, should generate significant
amount of free cash flow for the Company moving forward.”
The speeches made by the three government representatives as
well as English transcripts can be found on the Company's website
under the Cosalá Operations section using the following link:
https://americas-gold.com/operations/cosala-operations/reopening-ceremony-speeches/
Initial production at the Cosalá Operations will focus on
maximizing near-term free cash flow by mining high-grade zinc areas
of the Main Zone which were fully developed prior to the illegal
blockade. Over the course of the next six months, the mine will
continue development into the Upper Zone, which carries silver
grades approximately 5-6 times higher than the Main Zone. Mining
the silver-rich areas of the Cosalá Operations is expected to
significantly increase silver production to over 2.5 million ounces
of silver on an annualized basis.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth precious
metals mining company with multiple assets in North America. The
Company owns and operates the Cosalá Operations in Sinaloa, Mexico,
manages the 60%-owned Galena Complex in Idaho, USA, and is
re-evaluating the Relief Canyon mine in Nevada, USA. The Company
also owns the San Felipe development project in Sonora, Mexico. For
further information, please see SEDAR or www.americas-gold.com.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” within
the meaning of applicable securities laws. Forward-looking
information includes, but is not limited to, Americas Gold and
Silver’s expectations, intentions, plans, assumptions and beliefs
with respect to, among other things, estimated and targeted
production rates and results for gold, silver and other precious
metals, the expected prices of gold, silver and other precious
metals, as well as the related costs, expenses and capital
expenditures; the reopening at the Cosalá Operations, including the
expected production levels and potential additional mineral
resources thereat; the expected continued resolution of the illegal
blockade at the Company’s Cosalá Operations and the maintained
restart of mining operations. Often, but not always,
forward-looking information can be identified by forward-looking
words such as “anticipate”, “believe”, “expect”, “goal”, “plan”,
“intend”, “potential’, “estimate”, “may”, “assume” and “will” or
similar words suggesting future outcomes, or other expectations,
beliefs, plans, objectives, assumptions, intentions, or statements
about future events or performance. Forward-looking information is
based on the opinions and estimates of Americas Gold and Silver as
of the date such information is provided and is subject to known
and unknown risks, uncertainties, and other factors that may cause
the actual results, level of activity, performance, or achievements
of Americas Gold and Silver to be materially different from those
expressed or implied by such forward-looking information. With
respect to the business of Americas Gold and Silver, these risks
and uncertainties include risks relating to widespread epidemics or
pandemic outbreak including the COVID-19 pandemic; the impact of
COVID-19 on our workforce, suppliers and other essential resources
and what effect those impacts, if they occur, would have on our
business, including our ability to access goods and supplies, the
ability to transport our products and impacts on employee
productivity, the risks in connection with the operations, cash
flow and results of the Company relating to the unknown duration
and impact of the COVID-19 pandemic; interpretations or
reinterpretations of geologic information; unfavorable exploration
results; inability to obtain permits required for future
exploration, development or production; general economic conditions
and conditions affecting the industries in which the Company
operates; the uncertainty of regulatory requirements and approvals;
fluctuating mineral and commodity prices; the ability to obtain
necessary future financing on acceptable terms or at all; the
ability to operate the Company’s operations ; and risks associated
with the mining industry such as economic factors (including future
commodity prices, currency fluctuations and energy prices), ground
conditions and other factors limiting mine access, failure of
plant, equipment, processes and transportation services to operate
as anticipated, environmental risks, government regulation, actual
results of current exploration and production activities, possible
variations in ore grade or recovery rates, permitting timelines,
capital and construction expenditures, reclamation activities,
labor relations or disruptions, social and political developments
and other risks of the mining industry. The potential effects of
the COVID-19 pandemic on our business and operations are unknown at
this time, including the Company’s ability to manage challenges and
restrictions arising from COVID-19 in the communities in which the
Company operates and our ability to continue to safely operate and
to safely return our business to normal operations. The impact of
COVID-19 on the Company is dependent on a number of factors outside
of its control and knowledge, including the effectiveness of the
measures taken by public health and governmental authorities to
combat the spread of the disease, global economic uncertainties and
outlook due to the disease, and the evolving restrictions relating
to mining activities and to travel in certain jurisdictions in
which it operates. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated, or intended. Readers are cautioned not to
place undue reliance on such information. Additional information
regarding the factors that may cause actual results to differ
materially from this forward‐looking information is available in
Americas Gold and Silver’s filings with the Canadian Securities
Administrators on SEDAR and with the SEC. Americas Gold and Silver
does not undertake any obligation to update publicly or otherwise
revise any forward-looking information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law. Americas Gold and Silver
does not give any assurance (1) that Americas Gold and Silver will
achieve its expectations, or (2) concerning the result or timing
thereof. All subsequent written and oral forward‐looking
information concerning Americas Gold and Silver are expressly
qualified in their entirety by the cautionary statements above.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220124005267/en/
Stefan Axell VP, Corporate Development & Communications
Americas Gold and Silver Corporation 416-874-1708
Darren Blasutti President and CEO Americas Gold and Silver
Corporation 416‐848‐9503
Americas Gold and Silver (TSX:USA)
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