Americas Gold and Silver Corporation T.USA

Alternate Symbol(s): USAS

Metals & Mining Industrial Metals & Minerals

Americas Gold and Silver Corporation is a Canada-based precious metals mining company with multiple assets in North America. The Company owns and operates the Cosala Operations in Sinaloa, Mexico, manages the 60%-owned Galena Complex in Idaho, United States, and is re-evaluating the Relief Canyon mine in Nevada, United States. The Company also owns the San Felipe development project in Sonora, Mexico. The 100%-owned Cosala Operations are located in the state of Sinaloa, Mexico and consist of about 67 mining concessions that cover approximately 19,385 hectares (ha). The 60% owned Galena Complex is located in Idaho’s Silver Valley. The Relief Canyon Mine is located in Pershing County, Nevada. The project encompasses an open pit mine and heap leach processing facility. Its landholdings cover approximately 25,000 acres, which include the Relief Canyon Mine asset and lands surrounding the mine in all directions. The San Felipe silver-zinc-lead project is located in Sonora, Mexico.

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Americas Gold and Silver Corporation

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Post by jjeeddoo7on Jul 12, 2013 10:33am

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Post# 21604109

pb...your thoughts?

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Friday, July 12, 2013

FORMATION METALS CORPORATE UPDATE

Vancouver, B.C. July 12, 2013 - Formation Metals Inc.(FCO-TSX) ("Formation" or the "Company") is pleased to provide an update on the Idaho Cobalt Project as well as an update relating to the potential sale of Formation's Sunshine Precious Metals Refinery at the Big Creek Hydrometallurgical Complex.

The Idaho Cobalt Project continues to be the Company's primary focus. With cobalt prices rising 52% since bottoming in December 2012, this project warrants renewed attention. Operations at the ICP site were substantially restricted to preserve cash in early 2013; however, the permits are being maintained and staff continue to work with governmental agencies to remain in compliance. Maintenance is ongoing to the mining and milling equipment situated at the Company's warehouses and lay-down yards. The Company is also initiating surface environmental actions such as road armor protection, log chipping, water testing and sediment control. Optimization studies continue with the goal of reducing both capital and operating costs once a decision to proceed with underground development is made.

Following the recently announced termination by the Company of the sale of the Sunshine Precious Metals Refinery to certain entities associated or affiliated with Waterton Global Resource Management, Inc., the Company is pursuing alternative, superior potential transactions and is assisting potential buyers with their due diligence efforts.

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