TORONTO, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Americas Gold and Silver Corporation (TSX:USA) (NYSE:USAS) ("Americas" or the "Company") is pleased to announce that it has entered into a binding purchase agreement (the "Agreement") to acquire 100% of Crescent Silver, LLC ("Crescent") which owns the Crescent Mine in Idaho, USA for total consideration of approximately US$65 million (the "Acquisition").
The consideration under the Acquisition consists of US$20 million in cash (the "Cash Consideration") and approximately 11.1 million common shares of Americas (the "Equity Consideration"), both of which are payable upon closing of the Acquisition. The value of the Equity Consideration will be approximately US$45 million based on a deemed price of US$4.00 per common share of Americas.
To fund the cash portion of purchase price for the Acquisition and provide additional capital to advance Crescent, Americas has entered into an agreement with Canaccord Genuity Corp. and BMO Capital Markets, on behalf of a syndicate of underwriters, to complete a concurrent equity financing for gross proceeds of US$65 million by way of a "bought deal" private placement of common shares (the "Concurrent Financing"). Details of the Concurrent Financing are provided below.
Key Transaction Highlights:
Strategic acquisition of a key asset in the Idaho Silver Valley: The Crescent Mine is located approximately 9 miles from the Galena Complex, within the prolific Idaho Silver Valley. Crescent is located between two large and historic mines, Sunshine and Bunker Hill.
Eric Sprott, Americas' largest shareholder, is in strong support of the deal: Mr. Eric Sprott has committed to participate in the Concurrent Financing, along with several other key large institutional investors.
High-grade historical mineral resource1 of similar mineralization to Galena: The Crescent Mine contains a Mineral Resource estimate of 3.8 Moz (201k tons @ 19.1 opt (655 g/t)) in the Measured and Indicated category and 19.1 Moz (985k tons @ 19.4 opt (665 g/t)) in the Inferred category. The mineralized material at Crescent is the same silver-copper-antimony tetrahedrite material currently processed at Galena.
Potential to add 1.4-1.6 Moz of silver production annually: Based on the Tetra Tech PEA completed in 2015, the Crescent Mine has the potential to add 1.4-1.6 Moz Ag oz per year. Similar to its successful approach to optimizing and scaling operations at Galena, Americas intends to complete several positive adjustments to develop a mine plan to maximize production. The 2015 PEA would not be considered current for the purposes of NI 43-101 given it is based on 2015 figures.
Additional antimony exposure: Containing tetrahedrite material, the Crescent Mine is also expected to contribute to Galena's growing antimony resource as part of its strategy to meet the increased demand for domestic antimony supply in the United States.
Immediate opportunity for material synergies given Crescent's proximity to the Galena Complex: Americas expects it will be able to use its existing Galena and Coeur mills to process high-grade mineralized material from the Crescent Mine. The Company further anticipates it will be able to leverage its strong underground and exploration capabilities to establish best-in-class operations at the Crescent Mine. Additional integration benefits are expected through procurement savings, equipment sharing and G&A efficiencies.
Fully permitted mine with existing infrastructure: The Crescent Mine is fully permitted and located on 100% privately owned land. Existing infrastructure includes the mine, the New Jersey Mill (rated capacity of 440 tons per day2), corporate offices, shops, warehouses, access road, a core shed and permanent power installations.
Major exploration potential: Less than 5% of Crescent's landholding has been explored and only two veins (South and Alhambra) have been targeted for production to date. Other known splay veins, such as the Grey Copper and Jackson veins, are known to contain mineralized material but remain largely untested. The Alhambra vein, a major producer at Crescent, is untested for 2,100 feet on the west side of the property. The Cate and Sullivan faults, which host large mineral deposits in the adjoining Bunker Hill mine, are mapped crossing the property but are also untested. In tandem with the commencement of initial operations in 2026, the Company plans to initiate an aggressive 5-year drill program to test multiple targets from both surface and underground, setting up the mine for long term success.
________________________1 See Table 1 below regarding historical resource estimates.2 Crescent Silver owns 34.8% of the New Jersey Mill and has rights to 70% of its 440 ton per day capacity.
Paul Andre Huet, Chairman and CEO, commented: "The addition of the high-grade silver Crescent Mine to Americas portfolio, located just 9 miles by road from our producing Galena Complex, is a very compelling and synergistic acquisition opportunity that immediately capitalizes on the spare milling capacity at our Galena and Coeur mills. Crescent has the potential to be fast tracked into our growing production profile alongside Galena, allowing us to leverage our strong operations team located in the Silver Valley. Adding near-term silver ounces that maximizes the use of existing assets is the type of accretive growth we prioritize as a management team, the potential for the addition of near-term cash flow while realizing material operational synergies. We are also thrilled with the continued support of our cornerstone and largest investor, Mr. Eric Sprott.
The past-producing Crescent Mine is fully-permitted, located entirely on privately-owned land with grid power installed and substantial infrastructure in place. With the completion of the US$65 million bought deal financing, we will be fully-funded for the up-front cash requirements to close the acquisition and deploy our anticipated initial capital investments. The Company believes that the Acquisition provides a pathway to rapidly supplement the grade and volume of our feed to the Galena Mill as early as mid-2026, which is expected to generate additional substantial near term cash flow for our stakeholders while we continue to scale operations aggressively at Galena.
In addition to containing high-grade silver, the Crescent Mine is host to copper and antimony, contained in tetrahedrite ore, the same material we are currently processing at Galena. Consequently, as we scale silver output at Crescent over the coming years, we will also be boosting antimony output alongside existing antimony production at Galena in support of our strategy to meet domestic demand for this critical metal.
I am also extremely encouraged by the strong exploration upside at Crescent. Significant parts of the mine have yet to be drilled and we expect to target these with a US$3.5 million drill program commencing in 2026. While the near-term development at Crescent is potentially accretive to our silver and antimony resources, we are excited to test these areas to evaluate the strong potential for mine-life extension.
The addition of Crescent to Americas' existing asset base is a great example of mines working synergistically through optimizing the deployment of personnel and in-house expertise, leveraging our purchasing power with vendors, optimizing our equipment fleet across assets all while maximizing the use of our spare material processing capacity. As always, our shareholders can expect us to continue to aggressively focus on our growth and on reducing costs."
Mr. Eric Sprott commented: "I am very impressed and pleased to be the largest shareholder in Americas Gold and Silver, noting the significant progress Paul and his team have made in just 11 months at Galena. The addition of the Crescent Mine, while potentially improving the project profile of the Company, provides additional synergies only available through rational consolidation and is a transaction that leverages the strength of Paul's strong operating team in the Silver Valley. I look forward to continued growth as Americas Gold and Silver unlocks the significant value at both of these impressive neighboring mines."
About the Crescent Mine
Crescent Mine is a past-producing underground mine which has produced over 25 million ounces of silver at an average grade of 26 opt (891 g/t) between 1917 and 1981. The mine is located approximately 4 miles southeast of Kellogg, Idaho, and consists of 10 ...
