Aya Gold & Silver announces the filing of technical standard NI 43-101

MONTREAL, May 31, 2024 (GLOBE NEWSWIRE) — Aya Gold and Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Company”) is pleased to announce that it has filed on SEDAR+ an updated independent technical report (the “Technical Report”) prepared in accordance with Regulation 43 -101. for the Boumadine Polymetallic Project in the Kingdom of Morocco.

The report can be viewed at SEDAR+ website and on the Presentations and technical reports page of the Company’s website.

The technical report titled “Technical Report and Updated Estimate of Mineral Resources for the Boumadine Polymetallic Project, Kingdom of Morocco” is dated May 31, 2024 and supports the disclosure made by the Company in its press release dated April 16, 2024 announcing a robust estimate of mineral resources. to Boumadine. There is no difference between the technical report and the information disclosed in the press release dated April 16, 2024.

Mineral Resource Update 2025

More than 34,000 meters (“m”) of the 120,000 m program budgeted for 2024 have been drilled to date on Boumadine, mainly along the Main Trend, on the Tizi and North-West zones. The results will be incorporated into a mineral resource update, currently planned for 2025 and aimed at expanding the overall estimate.

Qualified people

The scientific and technical information contained in this press release has been reviewed and approved by David Lalonde, B. Sc, Chief Exploration, Qualified Person, and by Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants Inc., and an independent Qualified Person

P&E Mining Consultants Inc., an associated group of twenty (20) professionals established in 2004, provides geology and mining engineering consulting reports, mineral resource and mineral reserve estimates, NI 43-101 technical reports, preliminary economic assessments, pre-feasibility and feasibility studies. Studies.

About Aya Or et Argent Inc.

Aya Gold & Silver Inc. is a rapidly growing silver producer based in Canada with operations in the Kingdom of Morocco.

The only pure silver mining company listed on the TSX, Aya operates the high-grade Zgounder silver mine and explores its properties along the potential South Atlas Fault, several of which have hosted previous historic mines and resources. Aya’s Moroccan mining assets are complemented by its Tijirit gold project in Mauritania, the feasibility of which is ongoing.

Aya’s management team has been focused on maximizing shareholder value by anchoring sustainability at the heart of its operations, governance and financial growth plans.

For more information, please visit the Aya website at www.ayagoldsilver.com.

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Forward-looking statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflect management’s expectations regarding the future growth and business prospects of Aya (including the timing and development of new deposits and the success of exploration activities) and other opportunities. To the extent possible, words and expressions or statements that certain actions, events or results “may”, “could”, “would”, “could”, “will” or are “likely” to be taken, are will produce or be achieved, have been used to identify this forward-looking information. Specific forward-looking statements contained in this press release include, but are not limited to, statements and information regarding the exploration and development potential of Boumadine. Although the forward-looking information contained in this press release reflects management’s current beliefs based on information currently available to management and based on what management believes to be reasonable assumptions, Aya cannot be certain that actual results will be consistent with this forward-looking information. These forward-looking statements are based on assumptions, opinions and analyzes made by management in light of its experience, current conditions and its expectations regarding future developments, which management believes to be reasonable and relevant but which may prove incorrect. These assumptions include, among other things, the ability to obtain all required government approvals, obtaining regulatory permits for on-site work, importation of goods and machinery and work permits, accuracy of estimates mineral reserves and mineral resources (including, but not limited to, estimates of ore tonnage and grade), the price of silver, gold, zinc and lead, rates foreign exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow and action plans. Aya cautions you not to place undue reliance on these forward-looking statements.

Risks and uncertainties that may affect forward-looking statements include, among others: risks inherent in the exploration and development of mineral properties, including government approvals and permits, changes in economic conditions, changes in world price silver and gold and other key factors. inputs, changes in mine plans (including but not limited to throughput and recoveries being affected by metallurgical characteristics) and other factors, such as project execution delays, many of which are beyond Aya’s control, as well as other risks and uncertainties. which are described in more detail in Aya’s 2023 Annual Information Form dated March 28, 2024 and other documents filed by Aya with securities and regulatory authorities which are available on SEDAR+ at www.sedarplus .That. Aya undertakes no obligation to update any forward-looking statements if assumptions relating to such plans, estimates, projections, beliefs and opinions change. Nothing contained herein should be construed as an offer to sell or a solicitation to buy or sell any Aya securities. All references to Aya include its subsidiaries, unless the context otherwise requires.

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