Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased to report record mine and mill throughput and strong production in Q3-2022 at the Zgounder Silver Mine in the Kingdom of Morocco.

Highlights

• Record mine throughput of 825 tonnes per day in Q3-2022 with a monthly record of 941 tpd in September 2022
• Record mill throughput of 803 tpd in Q3-2022 with a monthly record of 845 tpd in September 2022
• 451,681 ounces of silver produced in Q3-2022, a 33.4% improvement from Q3-2021
• Head grade of 216 grams per tonne Ag mined and 232 g/t Ag at the mill in Q3-2022
• Silver recovery of 86.2% in Q3-2022, a 6.4% improvement from Q3-2021
• Over 1,150 meters of permanent underground infrastructure completed
• Maintaining 2022 production guidance of 1.6-1.8 million oz Ag

“Our mining operations are performing very well as a result of continued strong execution and measures taken by our team in previous quarters to improve efficiencies and deliver a strong quarter, ” said Benoit La Salle, President & CEO. “In what is the driest quarter of the year, we particularly benefited from our optimised water management facilities and measures. We have started mine development and are maintaining annual cost and production guidance ahead of announcing several expansion-related strategic milestones at Zgounder and an aggressive drill exploration program, which will unlock value for all stakeholders.”

Q3-2022 Production Update

During the third quarter, record mine and mill throughput of 825 tpd and 803 tpd, respectively, were achieved along with quarterly production of 451,681 oz Ag with a mill feed grade of 232 g/t Ag. A total of 75,907 tonnes (“t”) were mined at a head grade of 216 g/t Ag with underground mine development being a major focus in the quarter. Silver recovery was 84.5% at the flotation plant and 88.9% at the cyanidation plant for an average recovery of 86.2% in the quarter. Mill availabilities of 92.0% for the flotation plant and 95.6% for the cyanidation plant were achieved.

As mine operations are scaling up to reach 2,700 tpd by the end of 2024, management has determined that additional definition drilling is required to ensure predictable grade in stopes. Additional equipment and human resources have been added to meet this objective. Additional inventory on the Run of Mine (“ROM”) pad will help maintain a more consistent grade sent to the mill.

Infrastructure development continues to ramp up and reached 470m in September 2022, close to the 500m monthly objective for 2023-2024.

New mine levels were put online and will contribute to ensure mine ramp-up in 2023, as per the mine plan. Underground mine production is expected to accelerate in 2023 to accumulate a stockpile of 200,000t for the new plant commissioning in 2024.

About Aya Gold & Silver Inc.

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

The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past-producing mines and historical resources. Aya’s Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.

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