Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) is pleased to announce its strongest mineralized intercept to date, featuring a long, high-grade interval that results in a record metal factor, alongside the identification of a new high-grade parallel structure, both from the ongoing 2025 drill program at Boumadine in the Kingdom of Morocco. The results, several of which sit outside the current PEA pit shell, confirm strong high-grade continuity along the Boumadine Main Trend and supports the potential for continued resource growth and the Project’s emerging world-class scale.

Highlights¹

Boumadine Main Trend (5.4km)

• Best-ever mineralized intercept:
  • BOU-MP25-087 intercepted 2,323 g/t silver equivalent (“AgEq”) over 15.0 metres (“m”) (3.31 g/t Au, 1,900 g/t silver (“Ag”), 4.8% zinc (“Zn”), 1.8% lead (“Pb”) and 0.03% copper (“Cu”), including 3,858 g/t AgEq over 8.7m (5.37 g/t Au, 3,208 g/t Ag, 6.3% Zn, 2.8% Pb and 0.05% Cu).
• New high-grade parallel structure with a long, continuous mineralized interval:
  • BOU-DD25-623 intercepted 540 g/t AgEq over 47.3m (0.94 g/t Au, 399 g/t Ag, 1.4% Zn, 1.2% Pb and 0.03% Cu), including 681 g/t AgEq over 10.6m (1.84 g/t Au, 489 g/t Ag, 1.3% Zn, 0.6% Pb and 0.04% Cu) and 1,286 g/t AgEq over 11.7m (1.55 g/t Au, 1,002 g/t Ag, 3.0% Zn, 3.5% Pb and 0.1% Cu).
  • The newly identified parallel structure is significant due to its width and high-grade nature, opening further exploration potential. As a newly recognized zone within the Main Trend, it holds the potential to positively impact the overall resource.
• Multiple additional high-grade intercepts:
  • BOU-RC25-026 intercepted 3,336 g/t AgEq over 6.0m (37.03 g/t Au, 334 g/t Ag, 2.8% Zn, 1.0% Pb and 0.2% Cu), including 8,163 g/t AgEq over 2.0m (102.38 g/t Au, 94 g/t Ag, 2.4% Zn, 1.0% Pb and 0.1% Cu) – located approximately 75m south of the current Central pit shell.
  • BOU-DD25-633 intercepted 862 g/t AgEq over 3.1m (9.82 g/t Au, 51 g/t Ag, 1.2% Zn, 0.1% Pb and 0.2% Cu), including 1,983 g/t AgEq over 1.2m (23.66 g/t Au, 82 g/t Ag, 1.2% Zn, 0.1% Pb and 0.3% Cu).
  • BOU-RC25-043 intercepted 268 g/t AgEq over 9.0m (2.69 g/t Au, 45 g/t Ag, 0.1% Zn, 0.1% Pb and 0.1% Cu), including 432 g/t AgEq over 5.0m (4.44 g/t Au, 67 g/t Ag, 0.1% Zn, 0.1% Pb and 0.2% Cu).
• Exploration Update:
  • 133,003m drilled at Boumadine year to date.

“The new high-grade parallel structure in the southern portion of Boumadine’s Main Trend with hole BOU-DD25-623, together with our best-ever mineralized intercept in hole BOU-MP25-087, a 15.0m interval of exceptionally high-grade 2,323 g/t AgEq, confirms that Boumadine still has substantial upside to unlock,” said Benoit La Salle, President & CEO. “These large, high-grade intervals – including the newly identified southern parallel structure and mineralization outside the current PEA pit shells, highlighted by the wide, high-grade BOU-RC25-026 intercept located 75 metres south of the current Central pit shell – all point to a growing resource, larger ultimate pit extents, and increasing scale. With nine drill rigs active, we are completing the 2025 exploration program and kicking off the 360,000-metre infill program outlined in the PEA, with up to 12 to 16 drill rigs expected to be operational in the first quarter, demonstrating Boumadine’s world-class potential.”

Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)

* True width remains undetermined at this stage; all values are uncut.

• Ag equivalent is based on a silver price of US$24/oz with a process recovery of 89%, a gold price of US$2,200/oz with a process recovery of 85%, a zinc price of US$1.20/lb with a process recovery of 72%, a lead price of US$1.00/lb with a process recovery of 85%, and a copper price of US$4.00/lb with a process recovery of 75% resulting in the following ratios: 1g/t Au: 77.9 g/t Ag; 1% Cu: 85.4 g/t Ag; 1% Pb: 24.2 g/t Ag; and 1% Zn: 24.6 g/t Ag

Figure 1: Boumadine Mining Licence Surface Plan with Magnetic Data (Residual Total Field) and 2025 Drill Holes

Figure 2: Boumadine Property Surface Plan with New Permits and 2025 Drill Holes

2025 Exploration Results

This year, 408 diamond drill holes, 59 reverse circulation holes and 20 multi-purpose drill holes totaling 133,003m have been completed at Boumadine (Figure 1, Figure 2 and Appendix 2). Drilling was conducted on strike along the Main Trend, Tizi, Imariren as well as on some regional targets. Most results have been received for drill holes up to BOU-DD25-612 (Table 1, Figure 3, Figure 4 and Appendix 1).

Today’s results highlight the best-ever mineralized interval received so far at Boumadine, with Hole BOU-MP25-087 returning a metal factor of 34,850 g*m (AgEq). Results received so far in 2025, including Holes BOU-RC25-026, confirm the high-grade continuity of the Main Trend, which remains open in all directions. In addition, Hole BOU-DD25-623 in the South identified a new high-grade parallel structure (Figure 6) that will require follow-up drilling.

Many significant intervals also demonstrate the potential to increase the size of the open-pits reported in Boumadine’s PEA earlier this year (Figures 3–6).

The main mineralization generally measures 1m to 4m wide (locally reaching over a 10m width) N340-oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins (>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite. Tizi and Imariren share the same characteristics except for their N000 orientation.

Figure 3 – Surface Plan of Boumadine North, Imariren and Tizi Zones with New DDH Results

Figure 4 – Surface Plan of Boumadine South Zone with New DDH Results

Figure 5 – Section 7975N with Drill Hole BOU-RC25-026 in the Central Area of Boumadine with New DDH Results

Figure 6 – Section 6625N with Drill Hole BOU-DD25-623 in the South Area of Boumadine with New DDH Results

Next Steps

Infill drilling, following the positive PEA, will be ongoing for the next 24 months with a program of approximately 360,000m.

Significant upside potential exists to expand the Boumadine Main Trend, which currently extends 5.4km, the Tizi Zone, which currently extends 2.0km and the Imariren Zone, with a current extension of 1.2km; the three trends remain open in all directions. In addition, follow up drilling will take place at the 8km Asirem trend. Aya is currently completing the 140,000m drilling program and is set to begin the 2026 program ahead of schedule. Half of the drilling is focused along the Main Trend, Imariren and Tizi to continue extending the known mineralization trend along strike and at depth and to infill known areas advancing the project towards a preliminary economic assessment. The remaining 50% focus on greenfield exploration designed to test geological hypotheses and drill targets generated from the past three years of work. The results from ongoing geology work will determine additional development work.

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core and RC chips. For core drilling, all individual samples represent approximately one meter in length of core, which is 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 (“Afrilab”) in Marrakech, Morocco. For drilling using RC, all individual samples represent 1.0m in length and a representative portion is kept for every meter in some chip trays stored on site. A split samples representing 1/16th, ranging from 2 to 4 kilogram is sent for preparation and assaying to African Laboratory for Mining and Environment in Marrakech, Morocco.

All samples are analyzed for silver, copper, iron, lead, zinc, tin, and molybdenum using Aqua regia and finished by atomic absorption spectroscopy (“AAS”). Samples grading above 200 g/t Ag are reanalyzed using fire assaying. Gold is assayed by fire assaying. Standards of different grades and blanks were inserted every 20 samples in addition to the standards, blanks and pulp duplicate inserted by Afrilab.

Qualified Person

The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, P. Geo, Vice-President Exploration, Qualified Person, for accuracy and compliance with National Instrument 43-101.

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 Anti-Atlas Fault, several of which have hosted past-producing mines and historical resources.

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.