<SEC-DOCUMENT>0001144204-19-004888.txt : 20190205
<SEC-HEADER>0001144204-19-004888.hdr.sgml : 20190205
<ACCEPTANCE-DATETIME>20190204184629
ACCESSION NUMBER:		0001144204-19-004888
CONFORMED SUBMISSION TYPE:	F-10
PUBLIC DOCUMENT COUNT:		22
FILED AS OF DATE:		20190205
DATE AS OF CHANGE:		20190204

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Americas Silver Corp
		CENTRAL INDEX KEY:			0001286973
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Z4

	FILING VALUES:
		FORM TYPE:		F-10
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-229512
		FILM NUMBER:		19565702

	BUSINESS ADDRESS:	
		STREET 1:		145 KING ST. W.
		STREET 2:		SUITE 2870
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 1J8
		BUSINESS PHONE:		604-678-9639

	MAIL ADDRESS:	
		STREET 1:		145 KING ST. W.
		STREET 2:		SUITE 2870
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H 1J8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCORPIO MINING CORP
		DATE OF NAME CHANGE:	20040414
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-10
<SEQUENCE>1
<FILENAME>tv512103_f10.htm
<DESCRIPTION>F-10
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on February 4, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>UNITED
STATES</B></FONT><BR>
<FONT STYLE="font-size: 18pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Washington, D.C. 20549 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM F-10 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT<BR>
UNDER THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>AMERICAS
SILVER CORPORATION</B></FONT><BR>
<FONT STYLE="font-size: 10pt">(Exact name of Registrant as specified in its charter) </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Not applicable</B><BR>
(Translation of Registrant&rsquo;s name into English (if applicable))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding-right: 3pt; padding-left: 3pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Canada</B></FONT></TD>
    <TD STYLE="width: 34%; padding-right: 3pt; padding-left: 3pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1040</B></FONT></TD>
    <TD STYLE="width: 33%; padding-right: 3pt; padding-left: 3pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Not applicable</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Province or other jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">incorporation or organization)</P></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Primary Standard Industrial</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Classification Code Number</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(if applicable))</P></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer Identification</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Number (if applicable))</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>145 King Street West, Suite 2870</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Toronto, Ontario, Canada M5H 1J8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(416) 848-9503</B><BR>
(Address and telephone number of Registrant&rsquo;s principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>C T Corporation System</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1015 15th Street, NW, Suite 1000 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, District of Columbia 20005</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(202) 572-3111</B><BR>
(Name, address (including zip code) and telephone number (including area code)<BR>
of agent for service in the United States)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Copies to: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 3pt; padding-left: 3pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Michael Hickey </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>John Wilkin</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Blake, Cassels &amp; Graydon LLP </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>199 Bay Street</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Suite 4000, Commerce Court West</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Toronto, Ontario M5L 1A9</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Canada</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(416) 863-2400</B></P></TD>
    <TD STYLE="width: 50%; padding-right: 3pt; padding-left: 3pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Thomas M. Rose</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Shona C. Smith</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Troutman Sanders LLP</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>401 9<SUP>th</SUP> Street, NW</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Suite 1000</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, DC 20004</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(202) 274-2950</B>&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Approximate date of commencement of
proposed sale of the securities to the public</U>:</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">From time to time after the effective date
of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Province of Ontario</U></B><BR>
(Principal jurisdiction regulating this offering (if applicable))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is proposed that this filing shall become
effective (check appropriate box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">upon filing with the Commission, pursuant to Rule 467(a) (if in connection with an offering being made contemporaneously in the United States and Canada).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">at some future date (check appropriate box below)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 87%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">pursuant to Rule 467(b) on (date) at (time) (designate a time not sooner than 7 calendar days after filing).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">pursuant to Rule 467(b) on (date) at (time) (designate a time 7 calendar days or sooner after filing) because the securities regulatory authority in the review jurisdiction has issued a receipt or notification of clearance on (date).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">pursuant to Rule 467(b) as soon as practicable after notification of the Commission by the Registrant or the Canadian securities regulatory authority of the review jurisdiction that a receipt or notification of clearance has been issued with respect hereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">after the filing of the next amendment to this Form (if preliminary material is being filed).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to the home jurisdiction&rsquo;s
shelf prospectus offering procedures, check the following box. </FONT><FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title of each class of </B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>securities to be registered</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount to be registered </B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(1) (2)</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed maximum aggregate</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>offering price (3) (4)</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount of registration fee</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Shares (no par value)</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 13%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subscription Receipts</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Units</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&mdash;</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,720,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,720,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">US$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,572</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There are being registered under this Registration Statement such indeterminate number of common shares, preferred shares, subscription receipts, warrants and units of the Registrant (the &ldquo;<B>Securities</B>&rdquo;) as shall have an aggregate initial offering price of up to US$37,720,000. The proposed maximum offering price per Security will be determined, from time to time, by the Registrant in connection with the sale of the Securities under this Registration Statement. Prices, when determined, may be in U.S. dollars or the equivalent thereof in Canadian dollars. Any Securities registered under this Registration Statement may be sold separately or as units with other Securities registered under this Registration Statement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If, as a result of stock splits, stock dividends or similar transactions, the number of securities purported to be registered on this Registration Statement changes, the provisions of Rule 416 shall apply to this Registration Statement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimated solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(o) under the United States Securities Act of 1933, as amended.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Determined based on the proposed maximum aggregate offering price in Canadian dollars of $50,000,000 converted into U.S. dollars based on the average exchange rate on January 25, 2019, as reported by the Bank of Canada, for the conversion of Canadian dollars into U.S. dollars of Cdn$1.00 equals US$0.7544.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>The Registrant hereby
amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registration
Statement shall become effective as provided in Rule 467 under the Securities Act of 1933 or on such date as the Commission, acting
pursuant to Section 8(a) of the Act, may determine. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I<BR>
<BR>
INFORMATION REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 8pt"><I>No securities
regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. </I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><FONT STYLE="font-size: 8pt">A
copy of this preliminary short form base shelf prospectus has been filed with the securities regulatory authorities in the provinces
of Alberta, British Columbia and Ontario but has not yet become final for the purposes of the sale of securities. Information
contained in this preliminary short form base shelf prospectus may not be complete and may have to be amended. The securities
may not be sold until after a receipt for the short form base shelf prospectus is obtained from the securities regulatory authorities.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><FONT STYLE="font-size: 8pt">This
short form prospectus has been filed under legislation in the provinces of Alberta, British Columbia and Ontario that permits
certain information about these securities to be determined after this prospectus has become final and that permits the omission
from this prospectus of that information. The legislation requires the delivery to purchasers of a prospectus supplement containing
the omitted information within a specified period of time after agreeing to purchase any of these securities, except in cases
where an exemption from such delivery requirements has been obtained.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 8pt">Information
contained herein is subject to completion or amendment. A registration statement relating to these securities has been filed with
the United States Securities and Exchange Commission but is not yet effective. These securities may not be sold nor may offers
to buy be accepted prior to the time the registration statement becomes effective. This prospectus shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the securities laws of any such state.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 8pt"><B><I>Information
has been incorporated by reference in this prospectus from documents filed with the United States Securities and Exchange Commission
and with securities commissions or similar authorities in Canada. </I></B><I>Copies of the documents incorporated herein by reference
may be obtained on request without charge from the Corporate Secretary of Americas Silver Corporation at 145 King Street West,
Suite 2870, Toronto, Ontario, M5H 1J8, telephone (416) 848-9503 and are also available electronically at www.sec.gov/edgar.shtml
or www.sedar.com</I></FONT><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PRELIMINARY SHORT FORM BASE SHELF PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 49%; font: italic 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">New Issue and/or Secondary Offering</TD><TD STYLE="width: 2%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 49%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right">February 4, <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><IMG SRC="image_002.jpg" ALT=""></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMERICAS SILVER CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>C$50,000,000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common Shares</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Subscription Receipts</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Warrants</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Americas Silver Corporation (&ldquo;<B>Americas
Silver</B>&rdquo;, &ldquo;<B>we</B>&rdquo;, &ldquo;<B>us</B>&rdquo;, &ldquo;<B>our</B>&rdquo; or the &ldquo;<B>Company</B>&rdquo;)
may from time to time offer and issue the following securities: (i) common shares (the &ldquo;<B>Common Shares</B>&rdquo;); (ii)
subscription receipts (the &ldquo;<B>Subscription Receipts</B>&rdquo;); (iii) warrants (the &ldquo;<B>Warrants</B>&rdquo;); and
(iv) securities comprised of more than one of the Common Shares, Subscription Receipts and/or Warrants offered together as a unit
(the &ldquo;<B>Units</B>&rdquo;). The Common Shares, Subscription Receipts, Warrants and Units (collectively, the &ldquo;<B>Securities</B>&rdquo;)
may be offered separately or together, in separate series, in amounts, at prices and on terms to be set forth in one or more shelf
prospectus supplements (each a &ldquo;<B>Prospectus Supplement</B>&rdquo;) to be incorporated by reference in this short form base
shelf prospectus (the &ldquo;<B>Prospectus</B>&rdquo;) for the purpose of such offering. Certain current or future holders of Common
Shares (&ldquo;Selling Securityholders&rdquo;) may also offer and sell Common Shares pursuant to this Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All shelf information not included
in this Prospectus will be contained in one or more Prospectus Supplements that will be delivered to purchasers together with
this Prospectus, except in cases where an exemption from such delivery requirements has been obtained. The aggregate initial
offering price of Securities that may be sold pursuant to this Prospectus during the 25-month period that this Prospectus,
including any amendments hereto, remains valid is limited to C$50,000,000 (or the equivalent thereof in any other currency
used to denominate Securities based on the applicable exchange rate at the time of issuance of such Securities).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>We are permitted, as a Canadian issuer,
under the multi-jurisdictional disclosure system adopted by the United States, to prepare this Prospectus
and any Prospectus Supplement in accordance with Canadian disclosure requirements. You should be aware that such requirements are
different from those of the United States. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The consolidated financial statements
of the Company incorporated by reference herein are reported in U.S. dollars and have been prepared in accordance with International
Financial Reporting Standards as issued by the International Accounting Standards Board and thus may not be comparable to financial
statements of United States companies. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Your ability to enforce civil liabilities
under United States federal securities laws may be affected adversely by the fact that the Company is incorporated under the laws
of Canada, that some or all of our officers and directors may be residents of Canada, that some or all of the experts named in
this Prospectus or in any Prospectus Supplement may be residents of Canada and that a substantial portion of our assets and all
or a substantial portion of the assets of such persons may be located outside the United States.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>THESE SECURITIES HAVE NOT BEEN APPROVED
OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION (THE &ldquo;SEC&rdquo;) NOR ANY STATE OR CANADIAN SECURITIES
COMMISSION OR REGULATORY AUTHORITY NOR HAS THE SEC OR ANY STATE OR CANADIAN SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY
OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>You should be aware that the acquisition
of the Securities described herein may have tax consequences both in the United States and in Canada. Such tax consequences for
investors who are residents in, or citizens of, the United States may not be described fully herein or in any applicable Prospectus
Supplement. You should read the tax discussion in any applicable Prospectus Supplement; however, this Prospectus or any applicable
Prospectus Supplement may not fully describe these tax consequences, and you should consult your tax adviser prior to making any
investment in the Securities.</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">The specific terms of
the Securities in respect of which this Prospectus is being delivered will be set forth in the applicable Prospectus Supplement
and may include, where applicable: (A) in the case of Common Shares, (i) the person offering the shares (the Company and/or the
Selling Securityholder(s)); (ii) the number of Common Shares offered; (iii) the offering price (in the event that the offering
is a fixed price distribution); (iv) the manner of determining the offering price(s) (in the event that the offering is not a
fixed price distribution); and (v) any other material specific terms; (B) in the case of Subscription Receipts, (i) the number
of Subscription Receipts; (ii) the price at which the Subscription Receipts will be offered and whether the price is payable in
instalments; (iii) conditions to the exchange of Subscription Receipts for Securities and the consequences of such conditions
not being satisfied; (iv) the procedures for the exchange of the Subscription Receipts for Securities; (v) the number of underlying
Securities that may be exchanged upon exercise of each Subscription Receipt; (vi) the dates or periods during which the Subscription
Receipts may be exchanged for Securities; (vii) whether the Subscription Receipts and underlying Securities will be listed on
any securities exchange; (viii)&nbsp;whether the Subscription Receipts and underlying Securities will be issued in fully registered
or &ldquo;book-entry only&rdquo; form; (ix) any other rights, privileges, restrictions and conditions attaching to the Subscription
Receipts; (x) any risk factors associated with the Subscription Receipts and underlying Securities; and (xi) any other material
specific terms; (C) in the case of Warrants, (i) the designation of the Warrants; (ii)&nbsp;the aggregate number of Warrants offered
and the offering price; (iii) the quantity and terms of the Securities purchasable upon exercise of the Warrants, and procedures
that will result in the adjustment of those numbers; (iv) the exercise price of the Warrants; (v) the dates or periods during
which the Warrants are exercisable; (vi) any minimum or maximum number of Warrants that may be exercised at any one time; (vii)&nbsp;whether
the Warrants will be listed on any securities exchange; (viii) any terms, procedures and limitations relating to the transferability
or exercise of the Warrants; (ix) whether the Warrants will be issued in fully registered or &ldquo;book-entry only&rdquo; form;
(x) any other rights, privileges, restrictions and conditions attaching to the Warrants; (xi) any risk factors associated with
the Warrants; and (xii) any other material specific terms; and (D) in the case of Units, (i) the designation and terms of the
Units and of the Securities comprising the Units, including whether and under what circumstances those Securities may be held
or transferred separately; (ii)&nbsp;any provisions for the issuance, payment, settlement, transfer or exchange of the Units or
of any Securities comprising the Units; (iii) whether the Units will be issued in fully registered or &ldquo;book-entry only&rdquo;
form; (iv) any risk factors associated with the Units; (v) whether the Units and the Securities comprising the Units will be listed
on any securities exchange; and (vi)&nbsp;any other material specific terms. A Prospectus Supplement may include specific variable
terms pertaining to the Securities that are not within the alternatives and parameters described in this Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The outstanding Common Shares are listed
on the Toronto Stock Exchange (the &ldquo;<B>TSX</B>&rdquo;) under the symbol &ldquo;USA&rdquo; and on the NYSE American LLC (the
&ldquo;<B>NYSE American</B>&rdquo;) under the symbol &ldquo;USAS&rdquo;. On February 1, 2019, the last reported sale price of our
Common Shares on the TSX was C$2.28 per Common Share and on the NYSE American was US$1.75 per Common Share. Unless otherwise specified
in the applicable Prospectus Supplement, the Subscription Receipts, Warrants and Units will not be listed on any securities exchange.
<B>There is no market through which these Securities may be sold and purchasers may not be able to resell any Subscription Receipts,
Warrants or Units purchased under this Prospectus and the applicable Prospectus Supplements. This may affect the pricing of such
Securities in the secondary market, the transparency and availability of trading prices, the liquidity of such Securities, and
the extent of issuer regulation. See &ldquo;Risk Factors&rdquo; as well as the &ldquo;Risk Factors&rdquo; section of the applicable
Prospectus Supplement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Securities may be sold to or through
underwriters or dealers purchasing as principals, by the Company and/or, in the case of Common Shares, the Selling Securityholders
or to one or more purchasers, directly pursuant to applicable statutory exemptions or through agents designated by the Company
and/or the Selling Securityholders, as the case may be, from time to time. The Securities may be sold from time to time in one
or more transactions at a fixed price or prices or at non-fixed prices. If offered on a non-fixed price basis, the Securities may
be offered at market prices prevailing at the time of sale (including, without limitation, sales deemed to be &ldquo;at-the-market
distributions&rdquo; as defined in National Instrument 44-102 &ndash; <I>Shelf Distributions</I>, including sales made directly
on the TSX and the NYSE American or other existing trading markets for the Securities), at prices determined by reference to the
prevailing price of a specified security in a specified market or at prices to be negotiated with purchasers, in which case the
compensation payable to an underwriter, dealer or agent in connection with any such sale will be decreased by the amount, if any,
by which the aggregate price paid for the Securities by the purchasers is less than the gross proceeds paid by the underwriter,
dealer or agent to the Corporation. The price at which the Securities will be offered and sold may vary from purchaser to purchaser
and during the period of distribution. See &ldquo;Plan of Distribution&rdquo;. Each Prospectus Supplement will identify the person
offering Securities (the Company and/or, in the case of Common Shares, the Selling Securityholders) and each underwriter, dealer
or agent engaged in connection with the offering and sale of those Securities to which the Prospectus Supplement relates, and will
also set forth the method of distribution and the terms of the offering of such Securities including the net proceeds to the Company
or, in the case of Common Shares, to the Company and/or the Selling Securityholders, as the case may be, and, to the extent applicable,
any fees, discounts or other compensation payable to the underwriters, dealers or agents. Unless otherwise specified in a Prospectus
Supplement, the offerings are subject to approval of certain legal matters by Blake, Cassels &amp; Graydon LLP on behalf of the
Company and/or the Selling Securityholders.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to any applicable securities legislation,
and other than in relation to an &ldquo;at-the-market distribution&rdquo;, in connection with any offering of the Securities (unless
otherwise specified in a Prospectus Supplement), the underwriters or agents may over-allot or effect transactions which stabilize,
maintain or otherwise affect the market price of the Securities offered at levels other than those which might otherwise prevail
on the open market. These transactions may be commenced, interrupted or discontinued at any time. See &ldquo;Plan of Distribution&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Americas Silver&rsquo;s head office and
registered office is located at 145 King Street West, Toronto, Ontario, M5H 1J8, Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Alan Edwards and Manuel Rivera, two of
the Company&rsquo;s directors, reside outside of Canada and each has appointed Americas Silver Corporation, 145 King Street West,
Toronto, Ontario, M5H 1J8, as agent for service of process. Purchasers are advised that it may not be possible for investors to
enforce judgments obtained in Canada against any person that resides outside of Canada, even if such person has appointed an agent
for service of process. See &ldquo;Service of Process and Enforceability of Civil Liabilities&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>No underwriter has been involved in
the preparation of this Prospectus or performed any review of the contents of this Prospectus.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Except as noted, all dollar amounts
are expressed in U.S. Dollars. All references to &ldquo;US$&rdquo; or &ldquo;$&rdquo; are to U.S. Dollars and all references to
&ldquo;C$&rdquo; are to Canadian Dollars.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%; text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_001">CAUTION REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS</A></TD>
    <TD STYLE="width: 10%; text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_001">1</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_002">CAUTIONARY NOTE TO UNITED STATES INVESTORS REGARDING PRESENTATION OF MINERAL RESERVE AND MINERAL RESOURCE ESTIMATES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_002">2</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_003">DOCUMENTS INCORPORATED BY REFERENCE</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_003">3</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_004">DESCRIPTION OF THE BUSINESS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_004">5</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_005">DESCRIPTION OF SHARE CAPITAL</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_005">6</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_006">DESCRIPTION OF COMMON SHARES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_006">6</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_007">DESCRIPTION OF SUBSCRIPTION RECEIPTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_007">6</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_008">DESCRIPTION OF WARRANTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_008">7</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_009">DESCRIPTION OF UNITS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_009">7</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_010">EARNINGS COVERAGE RATIOS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_010">8</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_011">TRADING PRICE AND VOLUME</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_011">8</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_012">CAPITALIZATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_012">8</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_013">PRIOR SALES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_013">8</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_014">USE OF PROCEEDS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_014">8</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_015">PLAN OF DISTRIBUTION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_015">8</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_016">SELLING SECURITYHOLDERS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_016">9</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_017">RISK FACTORS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_017">10</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_018">CERTAIN INCOME TAX CONSIDERATIONS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_018">10</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_019">LEGAL MATTERS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_019">10</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_020">AUDITORS, TRANSFER AGENT AND REGISTRAR</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_020">10</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_021">INTEREST OF EXPERTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_021">11</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_022">PURCHASERS&rsquo; STATUTORY AND CONTRACTUAL RIGHTS</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_022">12</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_023">SERVICE OF PROCESS AND ENFORCEABILITY OF CIVIL LIABILITIES</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_023">12</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_024"></A>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="#a_026">DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT</A>&nbsp;</P>



</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_026">13</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_024">WHERE TO FIND MORE INFORMATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_024">13</A></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 6pt; padding-left: 0in"><A HREF="#a_025">CERTIFICATE OF AMERICAS SILVER CORPORATION</A></TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 6pt"><A HREF="#a_025">C-1</A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_001"></A>CAUTION
REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">Certain statements
made in this Prospectus, including the documents incorporated by reference herein, contain forward-looking information within the
meaning of applicable securities laws (&ldquo;<B>forward-looking statements</B>&rdquo;). These forward-looking statements are presented
for the purpose of assisting the Company&rsquo;s securityholders in understanding management&rsquo;s views regarding those future
outcomes and may not be appropriate for other purposes. When used in this Prospectus, the words &ldquo;may&rdquo;, &ldquo;would&rdquo;,
&ldquo;could&rdquo;, &ldquo;will&rdquo;, &ldquo;intend&rdquo;, &ldquo;plan&rdquo;, &ldquo;anticipate&rdquo;, &ldquo;believe&rdquo;,
&ldquo;seek&rdquo;, &ldquo;propose&rdquo;, &ldquo;estimate&rdquo;, &ldquo;expect&rdquo;, and similar expressions, as they relate
to the Company, are intended to identify forward-looking statements. Specific forward-looking statements in this Prospectus, including
the documents incorporated by reference herein, include, but are not limited to: any objectives, expectations, intentions, plans,
results, levels of activity, goals or achievements; estimates of mineral reserves and resources; the realization of mineral reserve
estimates; the impairment of mining interests and non-producing properties; the timing and amount of estimated future production,
production guidance, costs of production, capital expenditures, costs and timing of development; the success of exploration and
development activities; permitting timelines; government regulation of mining operations; environmental risks; the going concern
assumption; the timing and possible outcomes of pending disputes or litigation; negotiations or regulatory investigations; exchange
rate fluctuations; cyclical or seasonal aspects of our business; our dividend policy; capital expenditures; the transactions (the
&ldquo;<B>Transaction</B>&rdquo;) contemplated by the agreement and plan of merger (the &ldquo;<B>Merger Agreement</B>&rdquo;)
dated as of September 28, 2018 by and among Americas Silver, R Merger Sub, Inc. and Pershing Gold Corporation (&ldquo;<B>Pershing
Gold</B>&rdquo;); covenants and obligations of Americas Silver and Pershing Gold pursuant to the Merger Agreement; the timing for
the implementation of the Transaction; the potential benefits of the Transaction to shareholders of Americas Silver; the likelihood
of the Transaction being completed; the steps required for the completion of the Transaction; the board composition of Americas
Silver following completion of the Transaction; the share capital of Americas Silver following completion of the Transaction; statements
relating to the financial condition, assets, liabilities (contingent or otherwise), business, operations or prospects of Americas
Silver; the liquidity of the Common Shares and Americas Silver&rsquo;s non-voting preferred shares to be created pursuant to the
Transaction; statements based on the unaudited pro forma financial statements of Americas Silver attached as Appendix &ldquo;G&rdquo;
to the Special Meeting Circular (as defined herein); and other events or conditions that may occur in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Inherent in the forward-looking
statements are known and unknown risks, uncertainties and other factors beyond the Company&rsquo;s ability to control or predict,
that may cause the actual results, performance or achievements of the Company, or developments in the Company&rsquo;s business
or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied
by such forward-looking statements. Some of the risks and other factors, some of which are beyond Americas Silver&rsquo;s control,
which could cause results to differ materially from those expressed in the forward-looking statements and information contained
in this Prospectus, including the documents incorporated by reference herein, include, but are not limited to: risks associated
with market fluctuations in commodity prices; risks related to changing global economic conditions, which may affect the Company&rsquo;s
results of operations and financial condition; the Company is dependent on the success of the San Rafael project as its Cosal&aacute;
Operations and the Galena Complex, which are both exposed to operational risks; risks related to mineral reserves and mineral resources,
development and production and the Company&rsquo;s ability to sustain or increase present production; risks related to global financial
and economic conditions; risks related to government regulation and environmental compliance; risks related to mining property
claims and titles, and surface rights and access; risks related to labour relations, employee recruitment and retention and pension
funding; some of the Company&rsquo;s material properties are located in Mexico and are subject to changes in political and economic
conditions and regulations in that country; risks related to the Company&rsquo;s relationship with the communities where it operates;
risks related to actions by certain non-governmental organizations; substantially all of the Company&rsquo;s assets are located
outside of Canada, which could impact the enforcement of civil liabilities obtained in Canadian and U.S. courts; risks related
to currency fluctuations that may adversely affect the financial condition of the Company; the Company may need additional capital
in the future and may be unable to obtain it or to obtain it on favourable terms; risks associated with the Company&rsquo;s outstanding
debt and our ability to make scheduled payments of interest and principal thereon; the Company may engage in hedging activities;
risks associated with the Company&rsquo;s business objectives; risks related to competition in the mining industry; and there is
currently no trading market for any Subscription Receipts, Warrants or Units that may be offered pursuant to this Prospectus and
any Prospectus Supplement. The Company is also subject to risks and factors related to the Transaction &ndash; see &ldquo;<I>Risk
Factors</I>&rdquo;, beginning on page 76 of the Special Meeting Circular (as defined herein).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">This is not an exhaustive
list of the factors that may affect any of the Company&rsquo;s forward-looking statements. Some of these and other factors are
discussed in more detail in the section entitled &ldquo;Forward-Looking Statements&rdquo; in the &ldquo;Management&rsquo;s Discussion
and Analysis&rdquo; contained in our Annual Report (as defined herein). Investors and others should carefully consider these and
other factors and not place undue reliance on the forward-looking statements. Further information regarding these and other risk
factors is included in the Company&rsquo;s public filings with provincial securities regulatory authorities which can be found
on the System for Electronic Document Analysis and Retrieval (&ldquo;<B>SEDAR</B>&rdquo;) website at www.sedar.com and with the
SEC which can be found on the Electronic Data-Gathering, Analysis and Retrieval (&ldquo;<B>EDGAR</B>&rdquo;) website at www.sec.gov/edgar.shtml.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The forward-looking
statements contained in this Prospectus represent the Company&rsquo;s views only as of the date such statements were made. Forward-looking
statements contained in this Prospectus are based on management&rsquo;s plans, estimates, projections, beliefs and opinions as
at the time such statements were made and the assumptions related to these plans, estimates, projections, beliefs and opinions
may change. Although the Company believes that the expectations reflected in the forward-looking statements were reasonable at
the time such statements were made, there can be no assurance that such expectations will prove to be correct. The Company cannot
guarantee future results, levels of activity, performance or achievements and actual results or developments may differ materially
from those contemplated by the forward-looking statements. While the Company anticipates that subsequent events and developments
may cause the Company&rsquo;s views to change, the Company does not undertake to update any forward-looking statements, except
to the extent required by applicable securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_002"></A>CAUTIONARY
NOTE TO UNITED STATES INVESTORS REGARDING PRESENTATION OF</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">MINERAL RESERVE AND MINERAL RESOURCE ESTIMATES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">This Prospectus, including
the documents incorporated by reference herein, has been prepared in accordance with the requirements of the securities laws in
effect in Canada which differ from the requirements of United States securities laws. All mining terms used herein but not otherwise
defined have the meanings set forth in National Instrument 43-101 - Standards of Disclosure for Mineral Projects (&ldquo;<B>NI
43-101</B>&rdquo;). The definitions of Proven and Probable Reserves (&ldquo;<B>Mineral Reserves</B>&rdquo; or &ldquo;<B>Reserves</B>&rdquo;)
used in NI 43-101 differ from the definitions in the SEC Industry Guide 7. Under SEC Industry Guide 7 standards, a &ldquo;final&rdquo;
or &ldquo;bankable&rdquo; feasibility study is required to report reserves, the three-year history average price is used in any
reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate
governmental authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">In addition, the terms
&ldquo;Mineral Resource&rdquo;, &ldquo;Measured Mineral Resource&rdquo;, &ldquo;Indicated Mineral Resource&rdquo; and &ldquo;Inferred
Mineral Resource&rdquo; are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under
SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Investors
are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves.
&ldquo;Inferred Mineral Resources&rdquo; have a great amount of uncertainty as to their existence, and great uncertainty as to
their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded
to a higher category. Under Canadian securities laws, estimates of Inferred Mineral Resources may not form the basis of feasibility
or prefeasibility studies, except in certain specific cases. Additionally, disclosure of &ldquo;contained ounces&rdquo; in a resource
is permitted disclosure under Canadian securities laws, however the SEC normally only permits issuers to report mineralization
that does not constitute &ldquo;reserves&rdquo; by SEC standards as in place tonnage and grade without reference to unit measurements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">Accordingly, information
contained in this Prospectus and the documents incorporated by reference herein containing descriptions of the Company&rsquo;s
mineral deposits may not be comparable to similar information made public by United States companies subject to the reporting and
disclosure requirements of United States federal securities laws and the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">See Appendix A to the
Annual Information Form (as defined herein), which is incorporated by reference herein, for a description of certain of the mining
terms used in this Prospectus and the documents incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_003"></A>DOCUMENTS
INCORPORATED BY REFERENCE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"><B>Information has
been incorporated by reference in this Prospectus from documents filed with securities commissions or similar authorities in Canada.
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">The following documents
of the Company, filed with the securities commissions or similar authorities in the provinces of Alberta, British Columbia and
Ontario, are specifically incorporated by reference in and form an integral part of this Prospectus:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the
                                         Company&rsquo;s annual information form dated March 5, 2018 for the year ended December
                                         31, 2017 (the &ldquo;<B>Annual Information Form</B>&rdquo;);&nbsp;</P>



</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the
audited consolidated financial statements of the Company as at and for the years ended December 31, 2017 and 2016 and the reports
of the auditors thereon;&nbsp;</P>



</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">management&rsquo;s
                                         discussion and analysis of the Company for the year ended December 31, 2017 contained
                                         in Americas Silver&rsquo;s Annual Report to the Shareholders for the year ended December
                                         31, 2017 (the &ldquo;<B>Annual Report</B>&rdquo;);&nbsp;</P>



</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the
condensed interim consolidated financial statements of the Company for the nine months ended September 30, 2018 and 2017;&nbsp;</P>



</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">management&rsquo;s
                                         discussion and analysis of the Company for the three and nine months ended September
                                         30, 2018 (the &ldquo;<B>Interim MD&amp;A</B>&rdquo;);&nbsp;</P>



</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the
management information circular of the Company dated December 4, 2018 with respect to the special meeting of shareholders of the
Company held on January 9, 2019;&nbsp;</P>



</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the
management information circular dated April 5, 2018 with respect to the annual and special meeting of shareholders of the Company
held on May 15, 2018; and&nbsp;</P>



</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">the
material change report of the Company dated October 5, 2018.&nbsp;</P>



</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">All documents of the
Company of the type described in Section 11.1(1) of Form 44-101F1 &mdash; <I>Short Form Prospectus</I> to National Instrument 44-101
&mdash; <I>Short Form Prospectus Distributions</I> (&ldquo;<B>NI 44-101&rdquo;</B>), if filed by the Company with the provincial
securities commissions or similar authorities in Canada after the date of this Prospectus and during the currency of this Prospectus,
shall be deemed to be incorporated by reference into this Prospectus. In addition, to the extent that any document or information
incorporated by reference into this Prospectus is included in any report on Form 6-K, Form 40-F or Form 20-F (or any respective
successor form) that is filed with or furnished to the SEC after the date of this Prospectus, such document or information shall
be deemed to be incorporated by reference as an exhibit to the registration statement on Form F-10 of which this Prospectus forms
a part. In addition, the Company may incorporate by reference into this Prospectus, or the registration statement on Form F-10
of which it forms a part, other information from documents that the Company will file with or furnish to the SEC pursuant to Section
13(a) or 15(d) of the U.S. Securities Exchange Act of 1934, as amended, if and to the extent expressly provided therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Copies of the documents
incorporated herein by reference may be obtained on request without charge from the Corporate Secretary of the Company at its head
office at 145 King Street West, Suite 2870, Toronto, Ontario, M5H 1J8, Canada, telephone (416) 848-9503, and are also available
electronically in Canada through the SEDAR at www.sedar.com or in the United States through EDGAR at the website of the SEC at
www.sec.gov. The filings of the Company through SEDAR and EDGAR are not incorporated by reference in this Prospectus except as
specifically set out herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any template version
of any &ldquo;marketing materials&rdquo; (as such term is defined in NI 44-101) filed after the date of a Prospectus Supplement
and before the termination of the distribution of the Securities offered pursuant to such Prospectus Supplement (together with
this Prospectus) is deemed to be incorporated by reference in such Prospectus Supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">A Prospectus Supplement
containing the specific terms in respect of any Securities and the offering thereof will be delivered, together with this Prospectus,
to purchasers of such Securities (except in cases where an exemption from such delivery requirements has been obtained) and will
be deemed to be incorporated into this Prospectus for the purposes of securities legislation as of the date of the Prospectus Supplement,
but only for the purposes of the distribution of the Securities to which such Prospectus Supplement pertains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Any statement contained
herein, including any document (or part of a document) incorporated or deemed to be incorporated by reference herein, shall be
deemed to be modified or superseded, for purposes of this Prospectus, to the extent that a statement contained herein or in any
other currently or subsequently filed document (or part of a document) that is later dated and also is or is deemed to be incorporated
by reference herein modifies or supersedes such statement. The modifying or superseding statement need not state that it has modified
or superseded a prior statement or include any other information set forth in the document that it modifies or supersedes. The
making of a modifying or superseding statement shall not be deemed an admission for any purposes that the modified or superseded
statement, when made, constituted a misrepresentation, an untrue statement of a material fact or an omission to state a material
fact that is required to be stated or that is necessary to make a statement not misleading in light of the circumstances in which
it was made. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a
part of this Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon a new interim
financial report and related management&rsquo;s discussion and analysis of the Company being filed with the applicable securities
regulatory authorities during the currency of this Prospectus, the previous interim financial report and related management&rsquo;s
discussion and analysis of the Company most recently filed shall be deemed no longer to be incorporated by reference into this
Prospectus for purposes of future offers and sales of Securities hereunder. Upon new annual financial statements and related management&rsquo;s
discussion and analysis of the Company being filed with the applicable securities regulatory authorities during the currency of
this Prospectus, the previous annual financial statements and related management&rsquo;s discussion and analysis of the Company
and the previous interim financial report and related management&rsquo;s discussion and analysis of the Company most recently filed
shall be deemed no longer to be incorporated by reference into this Prospectus for purposes of future offers and sales of Securities
hereunder. Upon a new annual information form of the Company being filed with the applicable securities regulatory authorities
during the currency of this Prospectus, notwithstanding anything herein to the contrary, the following documents shall be deemed
no longer to be incorporated by reference into this Prospectus for purposes of future offers and sales of Securities hereunder:
(i) the previous annual information form; (ii) material change reports filed by the Company prior to the end of the financial year
in respect of which the new annual information form is filed; (iii) business acquisition reports filed by the Company for acquisitions
completed prior to the beginning of the financial year in respect of which the new annual information form is filed; and (iv) any
information circular of the Company filed prior to the beginning of the Company&rsquo;s financial year in respect of which the
new annual information form is filed. Upon a new management information circular prepared in connection with an annual general
meeting of shareholders of the Company being filed with the applicable securities regulatory authorities during the currency of
this Prospectus, the previous management information circular prepared in connection with an annual general meeting of the Company
shall be deemed no longer to be incorporated by reference into this Prospectus for purposes of future offers and sales of Securities
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_004"></A>DESCRIPTION
OF THE BUSINESS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Americas Silver is a
publicly-listed mining company engaged in the evaluation, acquisition, exploration, development and operation of precious and polymetallic
mineral properties in North America, primarily those with the potential for near-term production or exhibiting potential for hosting
a major mineralized deposit. Americas Silver&rsquo;s mission is to profitably expand its precious metals production through the
development of its own projects and consolidation of complimentary projects. Americas Silver is currently operating in two of the
world&rsquo;s leading silver camps: the Cosal&aacute; Operations in Sinaloa, Mexico, which includes the Nuestra Se&ntilde;ora silver-zinc-copper-lead
mine, the San Rafael silver-zinc-lead mine and the Zone 120 silver-copper exploration project, and the Galena Complex, in Idaho,
United States. Americas Silver holds an option to purchase the San Felipe development project in Sonora, Mexico.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Americas Silver was
incorporated as &ldquo;Scorpio Mining Corporation&rdquo; pursuant to articles of incorporation dated May 12, 1998 under the <I>Canada
Business Corporations Act</I>. On December 23, 2014, a merger of equals transaction between Scorpio Mining Corporation and U.S.
Silver &amp; Gold Inc. was completed to combine their respective businesses by way of a plan of arrangement of U.S. Silver pursuant
to section 182 of the <I>Business Corporations Act (Ontario)</I>. Following the merger of equals, the combined company changed
its name to &ldquo;Americas Silver Corporation&rdquo; by way of articles of amendment dated May 19, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Americas Silver&rsquo;s
head office and registered office is located at 145 King Street West, Toronto, Ontario, M5H 1J8, Canada and our general corporate
phone number is (416) 848-9503.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Consistent with past
practice and in the normal course, the Company may have outstanding non-binding letters of intent and/or conditional agreements
or may otherwise be engaged in discussions with respect to possible acquisitions and/or investments which may or may not be material.
However, there can be no assurance that any of these letters, agreements and/or discussions will result in an acquisition or investment
and, if they do, what the final terms or timing of any acquisition or investment would be. The Company expects to continue to actively
pursue acquisition and investment opportunities during the period that this Prospectus remains valid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Recent Developments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Proposed Merger Transaction with Pershing Gold Corporation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">On September 30, 2018,
Americas Silver and Pershing Gold announced that they had entered into the Merger Agreement to complete the Transaction. Pursuant
to the terms of the Merger Agreement, holders of Pershing Gold common stock, as of the effective time for the Transaction, will
receive 0.715 common shares of Americas Silver for each share of common stock of Pershing Gold (the &ldquo;<B>Exchange Ratio</B>&rdquo;).
Each outstanding share of Pershing Gold series E preferred stock (&ldquo;<B>Series E Preferred Stock</B>&rdquo;) will, at the
election of the holder, either (i) be converted into the right to receive 461.440 new non-voting preferred shares in the capital
of Americas Silver (&ldquo;<B>Preferred Shares</B>&rdquo;), or (ii) be converted into the right to receive the number of Common
Shares to which the holder would be entitled if each share of Series E Preferred Stock held was converted into Pershing Gold common
stock and then exchanged for Common Shares at the Exchange Ratio. For detailed information regarding the Transaction, see &ldquo;<I>The
Transaction</I>&rdquo;, beginning on page 75 of the Special Meeting Circular, which is incorporated by reference herein. A copy
of the Merger Agreement can be found on SEDAR at <FONT STYLE="color: Blue"><U>www.sedar.com</U></FONT> and on EDGAR at <FONT STYLE="color: Blue"><U>www.sec.gov</U></FONT>,
and is attached as Appendix &ldquo;H&rdquo; &ndash; &ldquo;<I>Merger Agreement</I>&rdquo; to the Special Meeting Circular.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Each of Americas Silver
and Pershing Gold has received the requisite shareholder approvals from their respective shareholders in respect of the Transaction.
Completion of the Transaction remains subject to satisfaction or waiver of certain customary conditions and the completion of review
and approval by the Committee on Foreign Investment in the United States (&ldquo;<B>CFIUS</B>&rdquo;). All deadlines for declarations
and transactions under review by CFIUS were  tolled due to the lapse in appropriations attributable to the recent partial
U.S. government shutdown.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">For more information
regarding Americas Silver assuming completion of the Transaction, see Appendix &ldquo;F&rdquo; &ndash; &ldquo;<I>Information Concerning
Americas Silver Following Completion of the Transaction</I>&rdquo; to the Special Meeting Circular, which is incorporated by reference
herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_005"></A>DESCRIPTION
OF SHARE CAPITAL</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The Company&rsquo;s
authorized share capital consists of an unlimited number of Common Shares. As of the date of this Prospectus, 44,975,323 Common
Shares have been issued and are outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35pt">Prior to the completion of the Merger, Americas
Silver&rsquo;s articles of incorporation will be amended to create the Americas Silver Preferred Shares. The authorized share capital
of Americas Silver upon completion of the Transaction will consist of an unlimited number of Americas Silver Common Shares and
8,000,000 Americas Silver Preferred Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">For detailed information
regarding Americas Silver&rsquo;s share capital assuming completion of the Merger, see Appendix &ldquo;F&rdquo; &ndash; &ldquo;<I>Information
Concerning Americas Silver Following Completion of the Transaction</I>&rdquo; of the Special Meeting Circular, which is incorporated
by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_006"></A>DESCRIPTION
OF COMMON SHARES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Common Share entitles
the holder to: (i) one vote at all meetings of shareholders (except meetings at which only holders of a specified class of shares
are entitled to vote); (ii) receive, subject to the holders of another class of shares, any dividend declared by Americas Silver;
and (iii) receive, subject to the rights of the holders of another class of shares, the remaining property of Americas Silver on
the liquidation, dissolution or winding up of Americas Silver, whether voluntary or involuntary. Any Prospectus Supplement for
Common Shares will set forth the terms and other information with respect to the Common Shares being offered thereby, including:
(i) the person offering the shares (the Company and/or the Selling Securityholder(s)); (ii) the number of Common Shares offered;
(iii) the offering price (in the event that the offering is a fixed price distribution); (iv) the manner of determining the offering
price(s) (in the event that the offering is not a fixed price distribution); and (v) any other material specific terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_007"></A>DESCRIPTION
OF SUBSCRIPTION RECEIPTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">The following sets
forth certain general terms and provisions of the Subscription Receipts. The Company may issue Subscription Receipts that may be
exchanged by the holders thereof for Securities upon the satisfaction of certain conditions. The particular terms and provisions
of the Subscription Receipts offered pursuant to a Prospectus Supplement, and the extent to which the general terms described below
apply to those Subscription Receipts, will be described in such Prospectus Supplement. The following description and any description
of Subscription Receipts in the applicable Prospectus Supplement does not purport to be complete and is subject to and qualified
in its entirety by reference to the applicable subscription receipt agreement and, if applicable, collateral arrangements and depositary
arrangements relating to such Subscription Receipts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">The Subscription Receipts
will be issued under one or more subscription receipt agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">Any
Prospectus Supplement for Subscription Receipts will contain the terms and conditions and other information with respect to
the Subscription Receipts being offered thereby, and may include, where applicable: (i) the number of Subscription Receipts;
(ii) the price at which the Subscription Receipts will be offered and whether the price is payable in instalments;
(iii) conditions to the exchange of Subscription Receipts for Securities and the consequences of such conditions not being
satisfied; (iv) the procedures for the exchange of the Subscription Receipts for Securities; (v) the number of underlying
Securities and that may be exchanged upon exercise of each Subscription Receipt; (vi) the dates or periods during which the
Subscription Receipts may be exchanged for Securities; (vii) whether the Subscription Receipts and underlying Securities will
be listed on any securities exchange; (viii)&nbsp;whether the Subscription Receipts and underlying Securities will be issued
in fully registered or &ldquo;book-entry only&rdquo; form; (ix) any other rights, privileges, restrictions and conditions
attaching to the Subscription Receipts; (x) any risk factors associated with the Subscription Receipts and underlying
Securities; and (xi) any other material specific terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_008"></A>DESCRIPTION
OF WARRANTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">The following sets
forth certain general terms and provisions of the Warrants. The particular terms and provisions of the Warrants offered pursuant
to a Prospectus Supplement, and the extent to which the general terms described below apply to those Warrants, will be described
in such Prospectus Supplement. The following description and any description of Warrants in the applicable Prospectus Supplement
does not purport to be complete and is subject to and qualified in its entirety by reference to the applicable warrant agreement
and, if applicable, collateral arrangements relating to such Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">The Company may issue
Warrants for the purchase of Common Shares of the Company. Warrants will be issued under one or more warrant agreements between
the Company and a warrant agent that the Company will name in the applicable Prospectus Supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">Any Prospectus Supplement
for Warrants will contain the terms and other information with respect to the Warrants being offered thereby, and may include,
where applicable: (i) the designation of the Warrants; (ii)&nbsp;the aggregate number of Warrants offered and the offering price;
(iii) the quantity and terms of the Securities purchasable upon exercise of the Warrants, and procedures that will result in the
adjustment of those numbers; (iv) the exercise price of the Warrants; (v) the dates or periods during which the Warrants are exercisable;
(vi) any minimum or maximum number of Warrants that may be exercised at any one time; (vii)&nbsp;whether the Warrants will be listed
on any securities exchange; (viii) any terms, procedures and limitations relating to the transferability or exercise of the Warrants
and the underlying Common Shares; (ix) whether the Warrants and underlying Common Shares will be issued in fully registered or
&ldquo;book-entry only&rdquo; form; (x) any other rights, privileges, restrictions and conditions attaching to the Warrants; (xi)
any risk factors associated with the Warrants; and (xii) any other material specific terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_009"></A>DESCRIPTION
OF UNITS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">The following sets
forth certain general terms and provisions of the Units. The particular terms and provisions of the Units offered pursuant to a
Prospectus Supplement, and the extent to which the general terms described below apply to those Units, will be described in such
Prospectus Supplement. The following description and any description of Units in the applicable Prospectus Supplement does not
purport to be complete and is subject to and qualified in its entirety by reference to any agreement and collateral arrangements
relating to such Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">The Company may issue
Units comprised of more than one of the other Securities described in this Prospectus in any combination. Each Unit will be issued
so that the holder of the Unit is also the holder of each Security included in the Unit. Thus, the holder of a Unit will have the
rights and obligations of a holder of each included Security. Any unit agreement under which a Unit is issued may provide that
the Securities included in the Unit may not be held or transferred separately, at any time or at any time before a specified date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">Any Prospectus Supplement
for Units will contain the terms and other information with respect to the Units being offered thereby, and may include, where
applicable: (i) the designation and terms of the Units and of the Securities comprising the Units, including whether and under
what circumstances those Securities may be held or transferred separately; (ii)&nbsp;any provisions for the issuance, payment,
settlement, transfer or exchange of the Units or of any Securities comprising the Units; (iii) whether the Units will be issued
in fully registered or &ldquo;book-entry only&rdquo; form; (iv) any risk factors associated with the Units; (v) whether the units
and the Securities comprising the Units will be listed on any securities exchange; and (vi)&nbsp;any other material specific terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_010"></A>EARNINGS
COVERAGE RATIOS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">Earnings coverage
ratios will be provided as required in the Prospectus Supplement with respect to the issuance of Securities pursuant to such Prospectus
Supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_011"></A>TRADING
PRICE AND VOLUME</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">Trading prices and
volume of our Securities will be provided, as required, in the Prospectus Supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_012"></A>CAPITALIZATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">There have been
no material changes in the Company&rsquo;s share or loan capital on a consolidated basis since September 30, 2018, the date of
the most recently filed unaudited consolidated financial statements of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">In connection with
the Transaction, the Company expects to issue Common Shares to holders of Pershing Gold common stock and Common Shares and/or Preferred
Shares to holders of Series E Preferred Stock (in accordance with such holders&rsquo; elections). See &ldquo;<I>Americas Silver
Post-Transaction &ndash; Selected Pro Forma Financial Information &ndash; Fully-Diluted Share Capital</I>&rdquo; of Appendix &ldquo;F&rdquo;
&ndash; &ldquo;<I>Information Concerning Americas Silver Following Completion of the Transaction</I>&rdquo; to the Special Meeting
Circular, which is incorporated by reference herein, for a description and summary of the expected share capital of Americas Silver
following completion of the Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_013"></A>PRIOR SALES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">Prior sales of our
Securities will be provided as required in the Prospectus Supplement with respect to the issuance of Securities pursuant to such
Prospectus Supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_014"></A>USE OF PROCEEDS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The use of proceeds
of the sale of each issuance of Securities will be described in the Prospectus Supplement relating to the specific issuance of
Securities. The Company will not receive any proceeds from any sale of Common Shares by Selling Securityholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_015"></A>PLAN OF
DISTRIBUTION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The Securities may be
sold (i) to or through underwriters or dealers purchasing as principals, (ii) directly to one or more purchasers pursuant to applicable
statutory exemptions, or (iii) through agents designated by the Company and/or the Selling Securityholders, as the case may be,
from time to time. The Securities may be sold from time to time in one or more transactions at a fixed price or prices or at non-fixed
prices. If offered on a non-fixed price basis, the Securities may be offered at market prices prevailing at the time of sale (including,
without limitation, sales deemed to be &ldquo;at-the-market distributions&rdquo; as defined in National Instrument 44-102 &ndash;
<I>Shelf Distributions</I>, including sales made directly on the TSX and the NYSE American or other existing trading markets for
the Securities), at prices determined by reference to the prevailing price of a specified security in a specified market or at
prices to be negotiated with purchasers, in which case the compensation payable to an underwriter, dealer or agent in connection
with any such sale will be decreased by the amount, if any, by which the aggregate price paid for the Securities by the purchasers
is less than the gross proceeds paid by the underwriter, dealer or agent to the Corporation. The price at which the Securities
will be offered and sold may vary from purchaser to purchaser and during the period of distribution. The Prospectus Supplement
for any of the Securities being offered thereby will identify the person offering Securities (the Company and/or, in the case of
Common Shares, the Selling Securityholders) and will set forth the method of distribution and the terms of the offering of such
Securities, including the type of Security being offered, the name or names of any underwriters, dealers or agents, the purchase
price of such Securities, the proceeds to, and the portion of expenses borne by, the Company from such sale, any underwriting discounts
and other items constituting underwriters&rsquo; compensation, any public offering price and any discounts or concessions allowed
or re-allowed or paid to dealers. Only underwriters so named in the Prospectus Supplement are deemed to be underwriters in connection
with the Securities offered thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">If underwriters are
used in the sale, the Securities will be acquired by the underwriters for their own account and may be resold from time to time
in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined
at the time of sale, at market prices prevailing at the time of sale or at prices related to such prevailing market prices. The
obligations of the underwriters to purchase such Securities will be subject to certain conditions precedent, and the underwriters
will be obligated to purchase all the Securities offered by the Prospectus Supplement if any of such Securities are purchased.
Any public offering price and any discounts or concessions allowed or re-allowed or paid to underwriters, dealers or agents may
be changed from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The Securities may also
be sold (i) directly by the Company and/or, in the case of Common Shares, the Selling Securityholders at such prices and upon such
terms as agreed to by the Company and/or the Selling Securityholders, as applicable, and the purchaser or (ii) through agents designated
by the Company and/or the Selling Securityholders, as the case may be, from time to time. Any agent involved in the offering and
sale of the Securities in respect of which this Prospectus is delivered will be named, and any commissions payable by the Company
and/or the Selling Securityholders, as applicable, to such agent will be set forth, in the Prospectus Supplement. Unless otherwise
indicated in the Prospectus Supplement, any agent is acting on a best efforts basis for the period of its appointment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The Company and/or the
Selling Securityholders, as applicable, may agree to pay any underwriters used in the sale of Securities a commission for various
services relating to the issue and sale of any Securities. Any such commission payable by the Company will be paid out of the general
corporate funds of the Company. Underwriters, dealers and agents who participate in the distribution of the Securities may be entitled
under agreements to be entered into with the Company and/or the Selling Securityholders to indemnification by the Company and/or
the Selling Securityholders, as applicable, against certain liabilities, including liabilities under securities legislation, or
to contribution with respect to payments which such underwriters, dealers or agents may be required to make in respect thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Subject to any applicable
securities legislation, and other than in relation to an &ldquo;at-the-market distribution&rdquo;, in connection with any offering
of the Securities (unless otherwise specified in a Prospectus Supplement), the underwriters or agents may over-allot or effect
transactions which stabilize, maintain or otherwise affect the market price of the Securities offered at levels other than those
which might otherwise prevail on the open market. These transactions may be commenced, interrupted or discontinued at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_016"></A>SELLING
SECURITYHOLDERS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Common Shares may be
sold under this Prospectus by way of secondary offering by Selling Securityholders. The Prospectus Supplement for or including
any offering of Common Shares by Selling Securityholders will include the following information, to the extent required by applicable
securities laws:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the names of the Selling Securityholders;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the number or amount of Common Shares owned, controlled or directed by each Selling Securityholder;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the number or amount of Common Shares being distributed for the account of each Selling Securityholder;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the number or amount of Common Shares to be owned by the Selling Securityholders after the distribution
and the percentage that number or amount represents of the total number of our outstanding Common Shares;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">whether the Common Shares are owned by the Selling Securityholders both of record and beneficially,
of record only, or beneficially only;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the date or dates the Selling Securityholder acquired the Common Shares;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">if the Selling Securityholder acquired any Common Shares in the 12 months preceding the date of
the applicable Prospectus Supplement, the cost thereof to the securityholder in the aggregate and on an average cost per security
basis; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">if the Selling Securityholder is an associate or affiliate of another person or company named as
a principal holder of voting securities in the Company&rsquo;s information circular, the material facts of the relationship.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_017"></A>RISK FACTORS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Prospective investors
in a particular offering of the Securities should carefully consider, in addition to information contained in the Prospectus Supplement
relating to that offering and the information incorporated by reference herein (including, without limitation, the Special Meeting
Circular) for the purposes of that offering, the risk factor listed below and risks described in the documents incorporated by
reference in the Prospectus as supplemented by the Prospectus Supplement relating to that offering, including the Company&rsquo;s
then-current annual information form, as well as the Company&rsquo;s then-current annual management&rsquo;s discussion and analysis
and interim management&rsquo;s discussion and analysis, if applicable, to the extent incorporated by reference herein for the purposes
of that particular offering of Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>No Market for the
Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">There is currently no
trading market for any Subscription Receipts, Warrants or Units that may be offered. No assurance can be given that an active or
liquid trading market for these securities will develop or be sustained. If an active or liquid market for these Securities fails
to develop or be sustained, the prices at which these Securities trade may be adversely affected. Whether or not these Securities
will trade at lower prices depends on many factors, including liquidity of these Securities, prevailing interest rates and the
markets for similar securities, the market price of the Company&rsquo;s other securities, general economic conditions and the Company&rsquo;s
financial condition, historic financial performance and future prospects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_018"></A>CERTAIN
INCOME TAX CONSIDERATIONS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The applicable Prospectus
Supplement will describe certain material Canadian federal income tax consequences to an investor who is a resident of Canada or
who is a non-resident of Canada of the acquisition, ownership and disposition of any Securities offered thereunder, including whether
the payment of dividends will be subject to Canadian non-resident withholding tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The applicable Prospectus
Supplement will also describe certain material U.S. federal income tax consequences of the acquisition, ownership and disposition
of any Securities offered thereunder by an initial investor who is a U.S. person (within the meaning of the United States Internal
Revenue Code of 1986, as amended).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_019"></A>LEGAL MATTERS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Unless otherwise specified
in a Prospectus Supplement, certain legal matters in connection with offered Securities will be passed upon by Blake, Cassels &amp;
Graydon LLP with respect to matters of Canadian law on behalf of the Company and/or the Selling Securityholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_020"></A>AUDITORS,
TRANSFER AGENT AND REGISTRAR</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
audited consolidated financial statements of the Company and its subsidiaries as at and for the years ended December 31, 2017 and
2016 have been incorporated by reference into the Special Meeting Circular and this Prospectus in reliance on the report of PricewaterhouseCoopers
LLP, </FONT>Independent Registered Public Accounting Firm, of Toronto, Ontario located at 18 York Street, Suite 2600, Toronto,
ON M5J 0B2, <FONT STYLE="font-family: Times New Roman, Times, Serif">as set forth in their report appearing in Americas Silver&rsquo;s
Annual Report. PricewaterhouseCoopers LLP, as auditors of the Company, have advised that they are independent </FONT>with respect
to the Company within the meaning of the Chartered Professional Accountants of Ontario CPA Code of Professional Conduct and in
accordance with the independence rules of the SEC and the Public Company Accounting Oversight Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The financial statements
of Pershing Gold and its subsidiaries for the years ended December 31, 2017 and 2016 have been incorporated by reference into the
Special Meeting Circular and this Prospectus in reliance on the report of KBL, LLP, an independent registered public accounting
firm, as set forth in their report appearing in Pershing Gold&rsquo;s Form 10-K Annual Report for the year ended December 31, 2017.
KBL, LLP, as auditors of Pershing Gold, have advised that they are independent of Pershing Gold as required by U.S. federal securities
laws and the applicable rules and regulations of the SEC and the Public Company Accounting Oversight Board (United States).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The transfer agent and
registrar for the Common Shares is Computershare Investor Services Inc. located at its principal offices in Toronto, Ontario.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_021"></A>INTEREST
OF EXPERTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Certain of the scientific
and technical information relating to the Company&rsquo;s mineral projects in the documents incorporated by reference herein has
been derived from technical reports prepared by the experts named below and has been included in reliance on such person&rsquo;s
expertise. Copies of the technical reports can be accessed online on SEDAR at <FONT STYLE="color: Blue"><U>www.sedar.com</U></FONT>
and on EDGAR at <FONT STYLE="color: Blue"><U>www.sec.gov</U></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Thomas L. Dyer, P.E.,
Edwin R. Peralta, P.E., Paul Tietz, C.P.G. and Randy Powell, Q.P.M. of Mine Development Associates, Inc. (&ldquo;<B>MDA</B>&rdquo;)
have acted as qualified persons in connection with the technical report entitled &ldquo;Technical Report and Preliminary Feasibility
Study for the San Rafael property, Sinaloa, Mexico&rdquo; dated April 29, 2016 and prepared in accordance with NI 43-101 (the &ldquo;<B>San
Rafael Technical Report</B>&rdquo;) and have reviewed and approved the information related to the San Rafael project contained
or incorporated by reference in this Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Jim Atkinson, P.Geo.,
Daren Dell, P.Eng, and Dan Hussey, C.P.G. have acted as qualified persons in connection with the technical report entitled &ldquo;Technical
Report, Galena Complex, Shoshone County, Idaho, USA&rdquo; dated December 23, 2016 and prepared in accordance with NI 43-101 (the
&ldquo;<B>Galena Technical Report</B>&rdquo;) and have reviewed and approved the information related to the Galena Complex contained
or incorporated by reference in this Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Paul Tietz of MDA has
acted as a qualified person in connection with the technical report entitled &ldquo;Technical Report and Estimated Resources for
the San Felipe Project, Sonora, Mexico&rdquo; dated May 3, 2018 and prepared in accordance with NI 43-101 (the &ldquo;<B>San Felipe
Technical Report</B>&rdquo;) and has reviewed and approved the information related to the San Felipe project contained or incorporated
by reference in this Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">All other scientific
and technical information in this Prospectus and relating to mineral projects or properties material to Americas Silver, including
information about the San Rafael project, the Galena Complex and the San Felipe project given after the date of the applicable
technical report, has been reviewed and approved by Daren Dell, P.Eng, the Chief Operating Officer of the Corporation, who is a
qualified person under NI 43-101.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">Each of the aforementioned
firms or persons held less than one percent of any class of our securities or of any of our associates or affiliates when they
prepared the technical reports referred to above or following the preparation of such technical reports. None of the aforementioned
firms or persons received any direct or indirect interest in any of our securities or property or of any of our associates or affiliates
in connection with the preparation of such technical reports.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">None of the aforementioned
firms or persons, nor any directors, officers or employees of such firms, are currently expected to be elected, appointed or employed
as a director, officer or employee of the Company or of any of its associates or affiliates, other than Jim Atkinson, P.Geo., Daren
Dell, P.Eng, and Dan Hussey, C.P.G., each of whom was, at the time of preparation of the Galena Technical Report, and, in the case
of Mr. Dell, continues to be employed by the Company or one of its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">Paul Tietz, P.Geo.
and Neil B. Prenn, P.Eng of MDA Carl E. Defilippi, R.M SME. of Kappes, Cassiday and Associates and Mark Jorgensen, Q.P. of Jorgensen
Engineering and Technical Services have acted as qualified persons in connection with the technical report entitled &ldquo;Technical
Report and Feasibility Study for the Relief Canyon Project, Pershing County, Nevada, U.S.A.&rdquo; dated July 6, 2018 and prepared
in accordance with NI 43-101 and have reviewed and approved the information related to the Relief Canyon Project contained or incorporated
by reference in this Prospectus. As of the date hereof, each of the foregoing individuals beneficially owns, directly or indirectly,
an aggregate of less than 1% of the issued and outstanding securities of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_022"></A>PURCHASERS&rsquo;
STATUTORY AND CONTRACTUAL RIGHTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">Securities legislation
in certain of the provinces of Canada provides purchasers with the right to withdraw from an agreement to purchase securities.
This right may be exercised within two business days after receipt or deemed receipt of a prospectus and any amendment. In several
of the provinces, the securities legislation further provides a purchaser with remedies for rescission or, in some jurisdictions,
revision of the price or damages if the prospectus and any amendment contains a misrepresentation or is not delivered to the purchaser,
provided that the remedies for rescission, revision of the price or damages are exercised by the purchaser within the time limit
prescribed by the securities legislation of the purchaser&rsquo;s province. The purchaser should refer to any applicable provisions
of the securities legislation of the purchaser&rsquo;s province for the particulars of these rights or consult with a legal adviser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">In addition, original
purchasers of convertible or exchangeable Subscription Receipts or Warrants, unless the Warrants are reasonably regarded by the
Company as incidental to the applicable offering as a whole (or Units comprised wholly or partly of such Securities), will have
a contractual right of rescission against the Company in respect of the conversion, exchange or exercise of such Securities. The
contractual right of rescission will be further described in any applicable Prospectus Supplement, but will, in general, entitle
such original purchasers to receive the amount paid for the applicable convertible, exchangeable or exercisable security upon surrender
of the underlying securities acquired thereby, in the event that this Prospectus (as supplemented or amended) contains a misrepresentation,
provided that: (i) the conversion, exchange or exercise takes place within 180 days of the date of the purchase of the convertible,
exchangeable or exercisable security under this Prospectus; and (ii) the right of rescission is exercised within 180 days of the
date of the purchase of the convertible, exchangeable or exercisable security under this Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">In an offering of convertible
or exchangeable Subscription Receipts or Warrants (or Units comprised wholly or partly of such Securities), investors are cautioned
that the statutory right of action for damages for a misrepresentation contained in the prospectus is limited, in certain provincial
securities legislation, to the price at which convertible or exchangeable Subscription Receipts or Warrants (or Units comprised
wholly or partly of such Securities) are offered to the public under the prospectus offering. This means that, under the securities
legislation of certain provinces, if the purchaser pays additional amounts upon the conversion, exchange or exercise of the security,
those amounts may not be recoverable under the statutory right of action for damages that applies in those provinces. The purchaser
should refer to any applicable provisions of the securities legislation of the purchaser&rsquo;s province for the particulars of
this right of action for damages or consult with a legal adviser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_023"></A>SERVICE
OF PROCESS AND ENFORCEABILITY OF CIVIL LIABILITIES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">We are a Canadian company.
Some of our directors and executive officers live outside the United States. Some of the assets of our directors and executive
officers and some of our assets are located outside the United States. As a result, it may be difficult or impossible to serve
process on us or on such persons in the United States or to obtain or enforce judgments obtained in United States courts or Canadian
courts against them or us based on the civil liability provisions of the federal securities laws of the United States. There is
doubt as to whether Canadian courts would enforce the civil liability claims brought under United States federal securities laws
in original actions and/or enforce claims for punitive damages. A final judgment for a liquidated sum in favour of a private litigant
granted by a United States court and predicated solely upon civil liability under United States federal securities laws would,
subject to certain exceptions identified in the law of individual provinces of Canada, likely be enforceable in Canada if the United
States court in which the judgment was obtained had a basis for jurisdiction in the matter that would be recognized by the domestic
Canadian court for the same purposes. There is a significant risk that a given Canadian court may not have jurisdiction or may
decline jurisdiction over a claim based solely upon United States federal securities law on application of the conflict of laws
principles of the province in Canada in which the claim is brought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The Company filed with
the SEC, concurrently with the registration statement on Form F-10 of which this Prospectus forms a part, an appointment of agent
for service of process on Form F-X. Under the Form F-X, the Company appointed C T Corporation System, with an address at 1015 15th
Street, NW, Suite 1000, Washington, District of Columbia 20005, as its agent for service of process in the United States in connection
with any investigation or administrative proceeding conducted by the SEC, and any civil suit or action brought against or involving
the Company in a United States court arising out of or related to or concerning the offering of Securities under the registration
statement on Form F-10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_026"></A>DOCUMENTS
FILED AS PART OF THE REGISTRATION STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The following documents
have been, or will be, filed with the SEC as part of the registration statement on Form F-10 relating to the Securities, of which
this Prospectus forms a part: (1) the documents listed under &ldquo;Documents Incorporated by Reference&rdquo;; (2) the consent
of PricewaterhouseCoopers LLP; (3) the consent of KBL, LLP; (4) powers of attorney from certain of the Company&rsquo;s directors
and officers; and (5) the consents of the &ldquo;qualified persons&rdquo; referred to in this Prospectus under &ldquo;Interests
of Experts&rdquo;. A copy of the form of any applicable warrant agreement or subscription receipt agreement will be filed by post-effective
amendment or by incorporation by reference to documents filed or furnished with the SEC under the United States Securities Exchange
Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_024"></A>WHERE TO
FIND MORE INFORMATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">We have filed with the
SEC a registration statement on Form F-10 relating to the Securities. This Prospectus, which constitutes a part of the registration
statement, does not contain all of the information contained in the registration statement, certain items of which are contained
in the exhibits to the registration statement as permitted by the rules and regulations of the SEC. See &ldquo;Documents Filed
as Part of the Registration Statement&rdquo;. Statements included or incorporated by reference in this Prospectus about the contents
of any contract, agreement or other documents referred to are not necessarily complete, and in each instance, you should refer
to the exhibits for a complete description of the matter involved. Each time we sell Securities under the registration statement,
we will provide a Prospectus Supplement that will contain specific information about the terms of that offering. The Prospectus
Supplement may also add, update or change information contained in this Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">We file annual and quarterly
financial information and material change reports, business acquisition reports and other material with the securities commission
or similar regulatory authority in each of the provinces of Canada and with the SEC. Under the multi-jurisdictional disclosure
system adopted by the United States, documents and other information that we file with the SEC may be prepared in accordance with
the disclosure requirements of Canada, which are different from those of the United States. You may read and download any public
document that we have filed with the securities commission or similar regulatory authority in the provinces of Alberta, British
Columbia, Ontario and Qu&eacute;bec on SEDAR at www.sedar.com. You may read and copy any document we have filed with the SEC at
the SEC&rsquo;s public reference room in Washington D.C. and may also obtain copies of those documents from the public reference
room of the SEC at 100 F Street, N.E., Washington, D.C. 20549 by paying a fee. Additionally, you may read and download some of
the documents that we have filed on EDGAR at www.sec.gov/edgar.shtml.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_025"></A>CERTIFICATE
OF AMERICAS SILVER CORPORATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated: February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This short form prospectus,
together with the documents incorporated in this prospectus by reference, will, as of the date of the last supplement to this prospectus
relating to the securities offered by this prospectus and the supplement(s), constitute full, true and plain disclosure of all
material facts relating to the securities offered by this prospectus and the supplement(s) as required by the securities legislation
of the provinces of Alberta, British Columbia and Ontario.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 2.35pt; padding-left: 2.35pt; font-size: 10pt; text-align: center"><P STYLE="margin: 0pt 0"><I>(Signed)
                                         &ldquo;Darren Blasutti&rdquo;</I></P>


</TD>
    <TD STYLE="width: 50%; padding-right: 2.35pt; padding-left: 2.35pt; font-size: 10pt; text-align: center"><P STYLE="margin: 0pt 0"><I>(Signed)
                                         &ldquo;Warren Varga&rdquo;</I></P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-bottom: 12pt; padding-left: 2.35pt; font-size: 10pt; text-align: center">Chief Executive Officer</TD>
    <TD STYLE="padding-right: 2.35pt; padding-bottom: 12pt; padding-left: 2.35pt; font-size: 10pt; text-align: center">Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-bottom: 12pt; padding-left: 2.35pt; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 2.35pt; padding-bottom: 12pt; padding-left: 2.35pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 2.35pt; padding-bottom: 12pt; padding-left: 2.35pt; font-size: 10pt; text-align: center">On behalf of the Board of Directors</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 2.35pt; padding-bottom: 12pt; padding-left: 2.35pt; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Signed) &ldquo;Alex Davidson&rdquo;</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Chairman</P></TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Signed) &ldquo;Lorie Waisberg&rdquo;</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Director</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.35pt; padding-bottom: 12pt; padding-left: 2.35pt; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 2.35pt; padding-bottom: 12pt; padding-left: 2.35pt; font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B><BR STYLE="clear: both"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II<BR>
<BR>
INFORMATION NOT REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Canada Business
Corporation Act (the &ldquo;<B>CBCA</B>&rdquo;), the Registrant may indemnify a present or former director or officer or another
individual who acts or acted at the Registrant&rsquo;s request as a director or officer, or an individual acting in a similar capacity,
of another entity, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment,
reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which
the individual is involved because of that association with the Registrant or other entity, on the condition that the individual
(i) acted honestly and in good faith with a view to the best interests of the Registrant, or, as the case may be, to the best interests
of the other entity for which the individual acted as director or officer or in a similar capacity at the Registrant&rsquo;s request
and in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty and (ii) had reasonable
grounds for believing that the individual&rsquo;s conduct was lawful. The aforementioned individuals are entitled to indemnification
from the Registrant as a matter of right if they were not judged by the court or other competent authority to have committed any
fault or omitted to do anything that the individual ought to have done and acted in accordance with conditions (i) and (ii) set
out above. the Registrant may advance moneys to the individual for the costs, charges and expenses of a proceeding; however, the
individual shall repay the moneys if the individual does not fulfill the conditions set out above. The indemnification and any
advance of moneys by the Registrant may be made in connection with a derivative action only with court approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The by-laws of the
Registrant provide that the Registrant may, subject to the limitations contained in the CBCA, purchase and maintain insurance for
the benefit of any director, officer or certain other persons, as the board of directors of the Registrant may from time to time
determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have policies in
force and effect that insure our directors and officers against losses which they or any of them will become legally obligated
to pay by reason of any actual or alleged error or misstatement or misleading statement or act or omission or neglect or breach
of duty by such directors and officers in the discharge of their duties, individually or collectively, or as a result of any matter
claimed against them solely by reason of their being directors or officers. Such coverage is limited by the specific terms and
provisions of the insurance policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Insofar as indemnification
for liabilities arising under the Securities Act of 1933, as amended, may be permitted to directors, officers or persons controlling
the Registrant pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the Securities and
Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;) such indemnification is against public policy as expressed in the Securities
Act of 1933, as amended, and is therefore unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBITS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number </B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 78%; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="width: 11%; padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318000493/a51763639ex99_1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318000493/a51763639ex99_1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annual information form of the Registrant dated March 5, 2018 for the year ended December 31, 2017 (incorporated by reference to Exhibit 99.1 to the Registrant&rsquo;s Annual Report on Form 40-F filed with the SEC on March 5, 2018)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318000493/a51763639ex99_2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318000493/a51763639ex99_2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Audited
    annual consolidated financial statements of the Registrant as at and for the years ended December 31, 2017 and 2016,  and the reports of the auditors thereon (incorporated by reference to Exhibit 99.2 to the Registrant&rsquo;s
    Annual Report on Form 40-F filed with the SEC on March 5, 2018)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318000493/a51763639ex99_3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318000493/a51763639ex99_3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management&rsquo;s
    discussion and analysis of the Registrant for the year ended December 31, 2017 contained in Americas Silver&rsquo;s Annual
    Report to the Shareholders for the year ended December 31, 2017 (incorporated by reference to Exhibit 99.3 to the
    Registrant&rsquo;s Annual Report on Form 40-F filed with the SEC on March 5, 2018)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318002294/a51893589ex99_1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318002294/a51893589ex99_1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condensed interim consolidated financial statements
of the Registrant for the nine months ended September 30, 2018 and 2017 (incorporated by reference to Exhibit
99.1 to the Registrant&rsquo;s Report on Form 6-K filed with the SEC on November 5, 2018)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318002294/a51893589ex99_2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318002294/a51893589ex99_2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management&rsquo;s
    discussion and analysis of the Registrant for the three and nine months ended September 30, 2018 (incorporated by reference
    to     Exhibit 99.2 to the Registrant&rsquo;s Report on Form 6-K filed with the SEC on November 5, 2018)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318002565/a51912188ex99_1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.6</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318002565/a51912188ex99_1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management information circular of the Registrant dated December 4, 2018 for the special meeting of shareholders of the Registrant held on January 9, 2019 (incorporated by reference to Exhibit 99.1 to the Registrant&rsquo;s Report on Form 6-K filed with the SEC on December 12, 2018)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318000709/a51785795ex99_3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000115752318000709/a51785795ex99_3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management information circular of the Registrant dated April 5, 2018 for the annual and special meeting of shareholders of the Registrant held on May 15, 2018 (incorporated by reference to Exhibit 99.3 to the Registrant&rsquo;s Report on Form 6-K filed with the SEC on April 13, 2018)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000114420418052783/tv504236_ex99-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1286973/000114420418052783/tv504236_ex99-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Material change report of the Registrant dated October 5, 2018 (incorporated by reference to Exhibit 99.4 to the Registrant&rsquo;s Report on Form 6-K filed with the SEC on October 5, 2018)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of PriceWaterhouseCoopers LLP</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">, Independent Registered Public Accountant</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of KBL, LLP, Independent Registered Public Accountant</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.3</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas Dyer</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.4</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paul Tietz</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-5.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.5</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-5.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mine Development Associates, Inc.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-6.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.6</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-6.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Jim Atkinson&nbsp;&nbsp;</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-7.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.7</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-7.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Daren Dell</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-8.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.8</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-8.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Edwin Peralta&nbsp;&nbsp;</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-9.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.9</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-9.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Randy Powell</FONT></A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt; width: 10%"><A HREF="tv512103_ex5-10.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.10</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt; width: 89%"><A HREF="tv512103_ex5-10.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Dan Hussey&nbsp;&nbsp;</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-11.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.11</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-11.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of James Stonehouse</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-12.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.12</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-12.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Shawn Wilson&nbsp;&nbsp;</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-13.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.13</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-13.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Aaron Gross</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-14.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-14.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Mine Development Associates, Inc.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-15.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-15.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Paul Tietz</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-16.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-16.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Neil Prenn</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-17.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.17</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-17.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Kappes, Cassiday and Associates</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-18.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-18.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Carl Defilippi</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-19.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-19.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Jorgensen Engineering and Technical Services</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="tv512103_ex5-20.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.20</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="tv512103_ex5-20.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Mark Jorgensen</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 12pt; padding-right: 1pt; padding-left: 2pt"><A HREF="#b_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.1</FONT></A></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt; padding-right: 3pt; padding-left: 3pt"><A HREF="#b_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Powers of Attorney (included on the signature page of this Registration Statement)</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART III<BR>
<BR>
UNDERTAKING AND CONSENT TO SERVICE OF PROCESS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 1.</B></FONT></TD>
    <TD STYLE="width: 93%; padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Undertaking</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant undertakes
to make available, in person or by telephone, representatives to respond to inquiries made by the SEC staff, and to furnish promptly,
when requested to do so by the SEC staff, information relating to the securities registered pursuant to Form F-10 or to transactions
in said securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2.</B></FONT></TD>
    <TD STYLE="width: 93%; padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Consent to Service of Process</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(a) Concurrent with the filing
of the Registration Statement on Form F-10, the Registrant is filing with the SEC a written irrevocable consent and power of attorney
on Form F-X.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(b) Any change to the name or
address of the agent for service of the Registrant shall be communicated promptly to the SEC by amendment to Form F-X referencing
the file number of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form F-10 and has duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Toronto, Province of Ontario, Canada, on the 4<SUP>th</SUP> day of February,
2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AMERICAS SILVER CORPORATION</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0; white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding: 0; text-indent: 0; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="width: 4%; padding: 0; text-indent: 0; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 47%; border-bottom: black 1pt solid; padding: 0; text-indent: 0; white-space: nowrap">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Darren
    Blasutti</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; white-space: nowrap"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Darren Blasutti</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: &nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="b_001"></A>POWER OF ATTORNEY </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each person whose signature
appears below constitutes and appoints Darren Blasutti and Warren Varga or either of them, his true and lawful attorneys-in-fact
and agents, each of whom may act alone, with full powers of substitution and resubstitution, for him and in his name, place and
stead, in any and all capacities, to sign any or all amendments to this Registration Statement, including post-effective amendments
to this Registration Statement and registration statements filed pursuant to Rule 429 under the Securities Act of 1933, as amended,
and to file the same, with all exhibits thereto, and other documents and in connection therewith, with the SEC, granting unto said
attorneys-in-fact and agents, and each of them full power and authority to do and perform each and every act and thing requisite
and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, and
hereby ratifies and confirms all his said attorneys-in-fact and agents or any of them or his substitute or substitutes may lawfully
do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Power of Attorney
may be executed in multiple counterparts, each of which shall be deemed an original, but which taken together shall constitute
one instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities
indicated on February 4, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U STYLE="text-decoration: none">Signature</U></B></FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 48%; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center">/s/
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Darren Blasutti</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President, Chief Executive Officer and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Darren Blasutti</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(principal executive officer)</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warren
    Varga</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warren Varga</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(principal financial and accounting officer)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alex
    Davidson</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alex Davidson</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alan
    Edwards</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alan Edwards</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Peter
    Hawley</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Peter Hawley</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bradley R. Kipp</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center; width: 50%">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gordon Pridham</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Manuel Rivera</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lorie
    Waisberg</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lorie Waisberg</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AUTHORIZED REPRESENTATIVE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of Section 6(a) of the Securities Act of 1933, as amended, the undersigned has signed this Registration Statement, solely in the
capacity of the duly authorized representative of Americas Silver Corporation in the United States, on the 4<SUP>th</SUP> day
of February, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 47%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PUGLISI &amp; ASSOCIATES</B></P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Donald J. Puglisi</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD>Donald J. Puglisi</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Managing Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tv512103_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>CONSENT OF INDEPENDENT AUDITOR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We hereby consent to the incorporation by reference in
the Registration Statement on Form F-10 of Americas Silver Corporation of our report dated March 5, 2018 relating to the
consolidated financial statements of Americas Silver Corporation as at and for the years ended December 31, 2017 and 2016,
and to the reference to our firm under the heading &ldquo;Auditors, Transfer Agent and Registrar&rdquo; in the Registration
Statement on Form F-10 of Americas Silver Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(Signed) &ldquo;PricewaterhouseCoopers LLP&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Chartered Professional Accountants, Licensed Public Accountants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Toronto, Canada</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>3
<FILENAME>tv512103_ex5-2.htm
<DESCRIPTION>EXHIBIT 5.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.2</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We hereby consent to the
incorporation by reference in this registration statement on Form F-10 of our report dated March 28, 2018, for the year ended
December 31, 2017 related to the financial statements of Pershing Gold Corporation and subsidiaries included in its Annual
Report (Form 10-K) for the year ended December 31, 2017 as filed with the Securities and Exchange Commission. We also consent
to the reference to us under the heading &ldquo;Auditors, Transfer Agent and Registrar&rdquo; and &ldquo;Documents Filed as
Part of the Registration Statement&rdquo; in the preliminary short form base shelf prospectus, dated February 4,
2019, forming a part of the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ KBL, LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">KBL, LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, NY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.3
<SEQUENCE>4
<FILENAME>tv512103_ex5-3.htm
<DESCRIPTION>EXHIBIT 5.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.3</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF THOMAS DYER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, the Technical Report and Preliminary Feasibility Study for the San Rafael
Property, Sinaloa, Mexico dated April 29, 2016 and to (ii) the references to the undersigned&rsquo;s name under the caption &ldquo;Interest
of Experts&rdquo; in the short form base shelf prospectus, included in or incorporated by reference in the Registration Statement
on Form F-10 being filed by Americas Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Thomas L. Dyer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Thomas L. Dyer, P.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.4
<SEQUENCE>5
<FILENAME>tv512103_ex5-4.htm
<DESCRIPTION>EXHIBIT 5.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.4</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF PAUL TIETZ</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from (A) the Technical Report and Preliminary Feasibility Study for the San Rafael
Property, Sinaloa, Mexico dated April 29, 2016 and (B) the Technical Report and Estimated Resources for the San Felipe Project,
Sonora, Mexico dated May 3, 2018, and to (ii) the references to the undersigned&rsquo;s name under the caption &ldquo;Interest
of Experts&rdquo; in the short form base shelf prospectus, included in or incorporated by reference in the Registration Statement
on Form F-10 being filed by Americas Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Paul Tietz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Paul Tietz, C.P.G.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.5
<SEQUENCE>6
<FILENAME>tv512103_ex5-5.htm
<DESCRIPTION>EXHIBIT 5.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.5</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF MINE DEVELOPMENT ASSOCIATES,
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from (A) the Technical Report and Preliminary Feasibility Study for the San Rafael
Property, Sinaloa, Mexico dated April 29, 2016 and (B) the Technical Report and Estimated Resources for the San Felipe Project,
Sonora, Mexico dated May 3, 2018, and to (ii) the references to the undersigned&rsquo;s name under the caption &ldquo;Interest
of Experts&rdquo; in the short form base shelf prospectus, included in or incorporated by reference in the Registration Statement
on Form F-10 being filed by Americas Silver Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Mine Development Associates, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Paul Tietz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name: <U>Paul Tietz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Title: <U>Senior Geologist&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.6
<SEQUENCE>7
<FILENAME>tv512103_ex5-6.htm
<DESCRIPTION>EXHIBIT 5.6
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.6</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF JIM ATKINSON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from Technical Report, Galena Complex, Shoshone County, Idaho dated December 23,
2016 and to (ii) the references to the undersigned&rsquo;s name under the caption &ldquo;Interest of Experts&rdquo; in the short
form base shelf prospectus, included in or incorporated by reference in the Registration Statement on Form F-10 being filed by
Americas Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Jim Atkinson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jim Atkinson, P.Geo.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.7
<SEQUENCE>8
<FILENAME>tv512103_ex5-7.htm
<DESCRIPTION>EXHIBIT 5.7
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.7</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF DAREN DELL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from Technical Report, Galena Complex, Shoshone County, Idaho dated December 23,
2016 and to (ii) the references to the undersigned&rsquo;s name under the caption &ldquo;Interest of Experts&rdquo; in the short
form base shelf prospectus, included in or incorporated by reference in the Registration Statement on Form F-10 being filed by
Americas Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Daren Dell&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Daren Dell, P.Eng.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>



<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"><B></B></P>

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<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.8
<SEQUENCE>9
<FILENAME>tv512103_ex5-8.htm
<DESCRIPTION>EXHIBIT 5.8
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.8</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF EDWIN PERALTA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, the Technical Report and Preliminary Feasibility Study for the San Rafael
Property, Sinaloa, Mexico dated April 29, 2016 and to (ii) the references to the undersigned&rsquo;s name under the caption &ldquo;Interest
of Experts&rdquo; in the short form base shelf prospectus, included in or incorporated by reference in the Registration Statement
on Form F-10 being filed by Americas Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Edwin R. Peralta&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Edwin R. Peralta, P.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.9
<SEQUENCE>10
<FILENAME>tv512103_ex5-9.htm
<DESCRIPTION>EXHIBIT 5.9
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.9</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF RANDY POWELL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, the Technical Report and Preliminary Feasibility Study for the San Rafael
Property, Sinaloa, Mexico dated April 29, 2016 and to (ii) the references to the undersigned&rsquo;s name under the caption &ldquo;Interest
of Experts&rdquo; in the short form base shelf prospectus, included in or incorporated by reference in the Registration Statement
on Form F-10 being filed by Americas Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Randy Powell&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Randy Powell, Q.P.M.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.10
<SEQUENCE>11
<FILENAME>tv512103_ex5-10.htm
<DESCRIPTION>EXHIBIT 5.10
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.10</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF DAN HUSSEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from Technical Report, Galena Complex, Shoshone County, Idaho dated December 23,
2016 and to (ii) the references to the undersigned&rsquo;s name under the caption &ldquo;Interest of Experts&rdquo; in the short
form base shelf prospectus, included in or incorporated by reference in the Registration Statement on Form F-10 being filed by
Americas Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Dan Hussey&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dan Hussey, C.P.G.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.11
<SEQUENCE>12
<FILENAME>tv512103_ex5-11.htm
<DESCRIPTION>EXHIBIT 5.11
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.11</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF JAMES STONEHOUSE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, the Mineral Resource estimate for the Galena Complex and the San Rafael Mineral
Reserve estimate and to (ii) the references to the undersigned&rsquo;s name, included in or incorporated by reference in the Registration
Statement on Form F-10 being filed by Americas Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
James Stonehouse&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">James Stonehouse, SME-RG&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.12
<SEQUENCE>13
<FILENAME>tv512103_ex5-12.htm
<DESCRIPTION>EXHIBIT 5.12
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.12</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF SHAWN WILSON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, the Mineral Resource estimate for the Galena Complex and the San Rafael Mineral
Reserve estimate and to (ii) the references to the undersigned&rsquo;s name, included in or incorporated by reference in the Registration
Statement on Form F-10 being filed by Americas Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Shawn Wilson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shawn Wilson, P.Eng.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.13
<SEQUENCE>14
<FILENAME>tv512103_ex5-13.htm
<DESCRIPTION>EXHIBIT 5.13
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.13</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF AARON GROSS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, the Mineral Resource estimate for the Galena Complex and the San Rafael Mineral
Reserve estimate and to (ii) the references to the undersigned&rsquo;s name, included in or incorporated by reference in the Registration
Statement on Form F-10 being filed by Americas Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Aaron Gross&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Aaron Gross, P.G.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.14
<SEQUENCE>15
<FILENAME>tv512103_ex5-14.htm
<DESCRIPTION>EXHIBIT 5.14
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.14</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF MINE DEVELOPMENT ASSOCIATES,
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We hereby consent to the incorporation
by reference of the estimates of mineralized material and production forecasts for the Relief Canyon Mine, and any other analysis
performed by us relating to the feasibility study for Pershing Gold Corporation, that appear in or are incorporated by reference
in the Registration Statement on Form F-10 being filed by Americas Silver Corporation on or about February 4, 2019 and in any prospectuses
or amendments or supplements thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Mine Development Associates, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Paul Tietz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name: Paul Tietz</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Title: Senior Geologist</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated: February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.15
<SEQUENCE>16
<FILENAME>tv512103_ex5-15.htm
<DESCRIPTION>EXHIBIT 5.15
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.15</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF PAUL TIETZ</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, mineral reserve and mineral resource data of Pershing Gold, and scientific
or technical information relating to mineral projects on properties material to Pershing Gold and to (ii) the references to the
undersigned&rsquo;s name, included in or incorporated by reference in the Registration Statement on Form F-10 being filed by Americas
Silver Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Paul Tietz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Paul Tietz, C.P.G.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.16
<SEQUENCE>17
<FILENAME>tv512103_ex5-16.htm
<DESCRIPTION>EXHIBIT 5.16
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.16</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF NEIL PRENN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, mineral reserve and mineral resource data of Pershing Gold, and scientific
or technical information relating to mineral projects on properties material to Pershing Gold and to (ii) the references to the
undersigned&rsquo;s name, included in or incorporated by reference in the Registration Statement on Form F-10 being filed by Americas
Silver Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Neil Prenn&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Neil Prenn</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.17
<SEQUENCE>18
<FILENAME>tv512103_ex5-17.htm
<DESCRIPTION>EXHIBIT 5.17
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.17</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF KAPPES, CASSIDAY AND ASSOCIATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, mineral reserve and mineral resource data of Pershing Gold, and scientific
or technical information relating to mineral projects on properties material to Pershing Gold and to (ii) the references to the
undersigned&rsquo;s name, included in or incorporated by reference in the Registration Statement on Form F-10 being filed by Americas
Silver Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Kappes, Cassiday and Associates </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Carl E. Defilippi&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name: Carl E. Defilippi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Title: Project Manager</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated: February 4, 2019</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.18
<SEQUENCE>19
<FILENAME>tv512103_ex5-18.htm
<DESCRIPTION>EXHIBIT 5.18
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.18</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF CARL DEFILIPPI</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, mineral reserve and mineral resource data of Pershing Gold, and scientific
or technical information relating to mineral projects on properties material to Pershing Gold and to (ii) the references to the
undersigned&rsquo;s name, included in or incorporated by reference in the Registration Statement on Form F-10 being filed by Americas
Silver Corporation.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Carl Defilippi&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carl Defilippi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated February 4, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.19
<SEQUENCE>20
<FILENAME>tv512103_ex5-19.htm
<DESCRIPTION>EXHIBIT 5.19
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.19</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF JORGENSEN ENGINEERING AND
TECHNICAL SERVICES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, mineral reserve and mineral resource data of Pershing Gold, and scientific
or technical information relating to mineral projects on properties material to Pershing Gold and to (ii) the references to the
undersigned&rsquo;s name, included in or incorporated by reference in the Registration Statement on Form F-10 being filed by Americas
Silver Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Jorgensen Engineering and Technical
Services</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Mark K. Jorgensen&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name: Mark K. Jorgensen</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Title: Principal Consultant</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated February 1, 2019</P>



<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"><B></B></P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.20
<SEQUENCE>21
<FILENAME>tv512103_ex5-20.htm
<DESCRIPTION>EXHIBIT 5.20
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.20</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONSENT OF MARK JORGENSEN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby consents to (i)
the references to, and the information derived from, mineral reserve and mineral resource data of Pershing Gold, and scientific
or technical information relating to mineral projects on properties material to Pershing Gold and to (ii) the references to the
undersigned&rsquo;s name, included in or incorporated by reference in the Registration Statement on Form F-10 being filed by Americas
Silver Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
Mark Jorgensen&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mark Jorgensen</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated February 1, 2019</P>



<P STYLE="margin: 0; text-align: left"><B></B></P>

<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: left"><B></B></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0; text-align: left"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>22
<FILENAME>image_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
