Aya Gold & Silver Inc. (TSX: AYA) is pleased to announce initial high-grade silver results from its 2021 drilling program at the Zgounder Silver Mine in the Kingdom of Morocco. Results from 40 drill holes continue to intersect high-grade silver mineralization along strike to the east and at depth below the current resource.

Key Highlights (all intersections are in core lengths)

• ZG-SF-20-25 intersected 2,728 grams per tonne Ag over 6.0m
• ZG-SF-20-23 intersected 4,517 g/t Ag over 3.5m and 1,635 g/t Ag over 7.5m
• ZG-SF-20-18 intersected 854 g/t Ag over 12m
• ZG-20-38 intersected 1,623 g/t Ag over 4m to the east
• ZG-20-13bis intersected 2,100 g/t Ag over 2m at the granite contact at depth
• Surface results confirm high-grade silver extension to the east
• Underground results extend high-grade silver mineralization at depth
• Six diamond drill rigs are investigating the eastern and western strikes, as well as the exploration target zone from below the mine to the granite contact

The 40 results comprise ten diamond drill holes from surface and 30 holes at depth, 24 of which are T28 percussion holes drilled for both mine development and exploration. Furthermore, two holes including ZG-21-06 and ZG-21-05 were drilled to the west, intersecting 412 g/t Ag over 1m and 100 g/t Ag over 0.5m, respectively, proving out mineralization extension potential. Hole ZG-20-38, located to the east, intersected 1,623 g/t Ag over 4m (see Table and Figure 1), extending the strike to the east and confirming continuity along strike.

Further, holes ZG-SF-20-25 and ZG-SF-20-23 intersected 2,728 g/t Ag and 4,517 g/t Ag over 6m and 3.5m, respectively, below the current mining resource and to the east. Hole ZG-SF-20-18 intersected 854 g/t Ag over 12m below the current mineral resource. Finally, ZG-20-13bis intersected 2,100 g/t Ag over 2m at the granite contact, confirming high-grade continuity at the contact at depth.

“These initial 2021 drill results increase the number of intersections within the 20-60 million oz exploration target area established outside the formal resource envelope at depth, and laterally toward the east. Our exploration efforts continue to extend the high-grade strike to the east and confirm continuity and high-grade mineralization at depth,” said Benoit La Salle, President & CEO.

For a complete summary of today’s results from the 2021 drill program, please refer to Appendix 1 of this press release for surface results and Appendix 2 for underground results.

Table 1 – Significant Intercepts from Surface and Underground Drilling at Zgounder (in core lengths)

2021 Exploration Program

Under the 2021 exploration program, a total of 41,000m will be drilled at Zgounder, including 35,000m on the mine permit and 6,000m regionally. A total of six diamond drilling rigs, four at surface and two underground, were mobilized on the property in Q1 2021. A third underground electric diamond rig is expected shortly. Two T28 percussion rigs are also in operation. A total of 7,810m of exploration drilling has been completed so far.

Quality Assurance

For core drilling, all individual samples represent approximately one meter in length of core, which was halved. Half of the core is kept on site for reference, and its counterpart is sent for preparation and assaying to African Laboratory for Mining and Environment in Marrakech, Morocco. All samples are analysed for silver, copper, iron, lead, and zinc using Aqua regia and finished by atomic absorption spectroscopy (“AAS”). Samples grading above 200 g/t Ag are reanalysed using fire assaying.

Marc-Antoine Audet, Ph.D. P. Geo, Geological Consultant, is Aya Gold & Silver’s Qualified Person and has reviewed this press release for accuracy and compliance with National Instrument 43-101.

About Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is a publicly traded Canadian company focused on the operation, exploration, acquisition and development of silver and gold deposits. Aya is currently operating mining and milling facilities at its Zgounder Silver Mine, an 85%-15% joint venture between its subsidiary, ZMSM, and the Office National des Hydrocarbures et des Mines (“ONHYM“) of the Kingdom of Morocco.

Its mining portfolio also includes the Boumadine polymetallic deposit located in the Anti-Atlas Mountains of Eastern Morocco which is also a joint venture with ONHYM wherein Aya retains an 85% ownership. Additionally, the Corporation’s portfolio includes the Amizmiz and Azegour properties, both being 100% owned, with gold, tungsten, molybdenum and copper occurrences in the center of the historical mining district of Morocco.