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TORONTO, ONTARIO—May 11, 2017—Americas Silver Corporation (TSX: USA) (NYSE “MKT”: USAS) (“Americas Silver” or the “Company”) today reported consolidated financial and operational results for the first quarter of 2017. This earnings release should be read in conjunction with the Company’s First Quarter Production and Cost Update, Management’s Discussion and Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on SEDAR at and are also available on the Company’s website at All figures are in U.S. dollars unless otherwise noted. First Quarter Highlights  Revenues of $15.2 million in Q1, 2017 compared with revenues of $14.9 million in Q1, 2016.  Cash flow generated from operating activities1 in Q1, 2017 of approximately $3.1 million compared to cash generated from operating activities of approximately $0.9 million in Q1, 2016.  A net loss of ($0.2) million or ($0.00) cents per share in Q1, 2017, compared with a net loss of ($1.7) million or ($0.06) cents per share in Q1, 2016.  Since late April, development rates at San Rafael have returned to budgeted rates, with ore stockpiling expected in August in the first development area of the Main Zone, and in September from the second development area lower in the Main Zone. San Rafael remains on budget and on time for the start of production by the end of Q3, 2017.  As previously released, consolidated silver production for the quarter decreased by 22% year-overyear to approximately 524,000 silver ounces, while silver equivalent2 ounces decreased by 13% yearover-year to approximately 1.1 million ounces as a result of planned lower grade and longer than expected mill repairs at the Galena Complex offset by greater than expected output from the Cosalá Operations.  Consolidated cash costs3 were approximately $10.49 per silver ounce, an increase of 7% year-overyear, while consolidated all-in sustaining costs3 were approximately $14.27 per silver ounce, an increase of 19% year-over-year.  Consolidated guidance for 2017 remains unchanged at 2.0 – 2.5 million ounces in silver production and 5.5 – 6.0 million ounces in silver equivalent production with projected cash costs of $4.00 – $5.00 per silver ounce and all-in sustaining cash costs of $9.00 – $10.00 per silver ounce.  The Company purchased an option on the San Felipe Project for total payments of $7.0 million (plus VAT) in March 2017.  At the end of the first quarter, the Company drew upon the $15 million Glencore pre-payment facility and fully repaid its previously existing debt of approximately $8.0 million during the quarter.

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