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SCHEDULE 13D/A 0001491714 XXXXXXXX LIVE 2 Common Shares 12/04/2025 false 0001286973 03062D100 Americas Gold & Silver Corp 145 KING ST. W SUITE 2870 Toronto A6 M5H 1J8 Mark Mandel (212) 626-4100 Baker & McKenzie LLP 452 Fifth Avenue New York NY 10018 0001491714 N Sprott Eric a AF N Z4 193104.00 49860836.00 193104.00 49860836.00 50053940.00 N 16.32 IN 1 Includes (i) 46,908,000 Common Shares of Americas Gold & Silver Corp (the "Issuer") held of record by Sprott Mining Inc. ("Sprott Mining"), a wholly-owned subsidiary of 2176423 Ontario Ltd. ("2176423 Ontario"), (ii) 2,952,836 Common Shares of the Issuer held of record by 2176423 Ontario. Eric Sprott controls 2176423 Ontario and has the power to direct the voting and disposition of Common Shares held by the entity through his ownership interests in 2176423 Ontario. Eric Sprott controls Sprott Mining and has the power to direct the voting and disposition of Common Shares held by the entity through his ownership interests in 2176423 Ontario. 2 The percentage set forth in Row 13 of this Cover Page is calculated based on 306,692,103 Common Shares outstanding (the "Common Shares Outstanding"), as reported by the Issuer to the Reporting Persons on December 2, 2025. Y 2176423 Ontario Ltd. a AF N A6 0.00 49860836.00 0.00 49860836.00 49860836.00 N 16.26 CO 3 Includes 46,908,000 Common Shares of the Issuer held of record by Sprott Mining, a wholly-owned subsidiary of 2176423 Ontario. 4 The percentage set forth in Row 13 of this Cover Page is calculated based on the Common Shares Outstanding, as reported by the Issuer to the Reporting Persons on December 2, 2025. Y Sprott Mining Inc. a WC N A6 0.00 46908000.00 0.00 46908000.00 46908000.00 N 15.29 CO 5 The percentage set forth in Row 13 of this Cover Page is calculated based on the Common Shares Outstanding, as reported by the Issuer to the Reporting Persons on December 2, 2025. Common Shares Americas Gold & Silver Corp 145 KING ST. W SUITE 2870 Toronto A6 M5H 1J8 This Amendment No. 2 (this "Amendment") is being filed to update the percentage of shares beneficially owned by the Reporting Persons and hereby amends and supplements the original Statement filed with the SEC on December 23, 2024 and further amended on November 24, 2025. Capitalized terms used but not defined herein shall have the respective meanings set forth in the Statement. Except as amended or supplemented hereby, the information set forth in the Statement remains unchanged. On December 4, 2025, 2176423 Ontario completed a private purchase of 900,000 shares of Common Stock of the Issuer at a purchase price per share of $4.00 for combined gross proceeds of approximately $3,600,000. The source of funds for acquiring the Common Stock described herein was the working capital of 2176423 Ontario. The information provided in Item 3 above is hereby incorporated by reference. The information provided on the cover pages to this Amendment is hereby incorporated by reference. As of the close of business on December 3, 2025, the Reporting Persons acquired or have been granted, and for the purposes of Rule 13d-3 of the Exchange Act, beneficially own, an aggregate of 50,053,940 Common Shares, which represents approximately 16.32% of the Common Shares Outstanding, as reported by the Issuer to the Reporting Persons on December 2, 2025. The responses in rows 7, 8, 9 and 10 of the cover pages to this Amendment are hereby incorporated by reference. Except for the transaction described in Item 3 of this Amendment and the transactions described in Item 3 of Amendment 1, the Reporting Persons have not engaged in any transaction during the past 60 days involving the Common Shares of the Issuer. Sprott Eric /s/ Eric Sprott Eric Sprott 12/08/2025 2176423 Ontario Ltd. /s/ Eric Sprott Eric Sprott/President 12/08/2025 Sprott Mining Inc. /s/ Eric Sprott Eric Sprott/President 12/08/2025