Aya Gold & Silver Inc. (TSX: AYA) (NASDAQ: AYA) is pleased to report new drill results at the Boumadine Project from its ongoing infill drill program in the Kingdom of Morocco. These results confirm strong high-grade continuity along the Boumadine Main Trend and support the potential for continued resource growth and scale.

Highlights¹

Boumadine Main Trend (5.4km)

• Multiple additional high-grade intercepts:
  • BOU-DD25-745 intercepted 890 grams per tonne silver equivalent over 51.5 metres (2.05 g/t gold, 535 g/t silver, 3.8% zinc, and 5.9% lead, including 1,504 g/t AgEq over 19.3m (2.17 g/t Au, 1,032 g/t Ag, 5.3% Zn, and 9.8% Pb).
  • BOU-DD25-746 intercepted 665 g/t AgEq over 20.4m (1.63 g/t Au, 410 g/t Ag, 2.8% Zn and 3.4% Pb), including 1,276 g/t AgEq over 5.3m (3.98 g/t Au, 695g/t Ag, 6.1% Zn and 7.2% Pb) and 741 g/t AgEq over 14.5m (5.24 g/t Au, 204 g/t Ag, 3.9% Zn and 2.2% Pb), including 1,112 g/t AgEq over 8.4m (8.79 g/t Au, 276g/t Ag, 4.5% Zn and 2.3% Pb).
  • BOU-DD26-790 intercepted 746 g/t AgEq over 14.9m (0.62 g/t Au, 586 g/t Ag, 1.9% Zn and 3.7% Pb) including 1,227 g/t AgEq over 6.5m (1.05 g/t Au, 971g/t Ag, 1.9% Zn and 3.7% Pb).
  • BOU-DD26-786 intercepted 511 g/t AgEq over 9.4m (0.61 g/t Au, 399 g/t Ag, 1.4% Zn, and 1.0% Pb) including 1,928 g/t AgEq over 1.8m (1.54 g/t Au, 1,708g/t Ag, 2.5% Zn and 1.7% Pb).
  • BOU-DD26-792 intercepted 462 g/t AgEq over 8.1m (0.79 g/t Au, 237 g/t Ag, 3.0% Zn and 4.5% Pb) including 1,036 g/t AgEq over 2.2m (1.50 g/t Au, 563g/t Ag, 5.2% Zn and 10.4% Pb).
• Exploration Update:
  • 69,209m drilled at Boumadine year-to-date.
  • 20% of the planned 360,000m infill drilling program for 2026-2027 completed

“These latest results continue to demonstrate the exceptional grade, width and scale potential emerging at Boumadine,” said Benoit La Salle, President & CEO.“Intercepts including 890 g/t AgEq over 51.5m in BOU-DD25-745 — our strongest drill intercept to date at Boumadine on a grade-thickness basis — located just 70m below the current pit shell, highlights the strong continuity of wide, high-grade mineralization along the 5.4-kilometre Boumadine Main Trend, which remains open in all directions. With over 69,000m drilled year-to-date and 11 rigs currently active, we are aggressively advancing the 2026–2027 infill and expansion program ahead of the updated PEA expected mid-year.”

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

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

1. Ag equivalent is based on a silver price of US$30/oz with a process recovery of 89%, a gold price of US$2,800/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: 79.3g/t Ag; 1% Cu: 68.3 g/t Ag; 1% Pb: 19.4 g/t Ag; and 1% Zn: 19.7 g/t Ag.

Figure 1: Boumadine Mining Licence Surface Plan with Magnetic Data (Residual Total Field) and 2026 Drill Holes

2026 Exploration Results

This year, 160 diamond drill holes, totaling 69,209m have been completed at Boumadine (Figure 1 and Appendix 2). Drilling was done on strike along the Main Trend, Tizi and Imariren. All results have been received for drill holes up to BOU-DD25-800 (Table 1, Figure 2, and Appendix 1).

Today’s results confirm the high-grade nature and continuity of the Boumadine Main Trend, which remains open in all directions. In addition, hole BOU-DD25-745 to the south intersected a new mineralized parallel structure 70m bellow the current resources pit shell (Figure 3). This new structure has the potential to increase both the resources and the depth of the open-pit and will require follow-up drilling upward and laterally to fully assess its potential.

Mineralization within the Boumadine Main Trend measures up to 4m wide (locally reaching over a 10m width) and is 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 2 – Surface Plan of Boumadine South Zone with New DDH Results

Figure 3 – Section 6575N with Drill Hole BOU-DD25-745 in the South Area of Boumadine with Resources Pit Shell

Next Steps

Infill drilling, following last year’s positive preliminary economic assessment², will be ongoing for the next 24 months with a drill program of approximately 360,000m planned.

Significant potential exists to expand the Boumadine Main Trend (currently 5.4 km), the Tizi Zone (2.0 km) and the Imariren Zone (1.2 km), with all three trends open in all directions. Follow-up drilling is also planned on the 8 km Asirem trend for later this year.

Most drilling will continue to focus on the Main Trend, Imariren and Tizi to extend known mineralization along strike and at depth, while infilling key areas as part of advancing Feasibility Study. The balance of the 2026 program (~20,000m) will target Asirem follow-up and greenfield exploration, testing geological hypotheses and targets generated over the past four years. Ongoing geological work will guide additional development priorities.

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 metre 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 in Marrakech, Morocco. For drilling using RC, all individual samples represent 1.0m in length and a representative portion is kept for every metre 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. 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 is a Canadian precious metals mining company anchored in Morocco and active across the full mining value chain. The Corporation has established an exploration track record through a systematic, technology-led, data-driven approach and is focused on expanding its resource base and land package along the Anti-Atlas fault — one of Africa’s most geologically rich, underexplored and mining-friendly regions.

Aya operates Zgounder, a rare, silver-only mine, producing silver doré from its new processing facility. Aya’s growth pipeline includes the Boumadine polymetallic project, where feasibility study work is underway. The project hosts a sizable mineralized footprint, and potential for further discovery.

Led by a proven team of mining professionals, Aya is guided by a vision of responsible mining and is committed to delivering sustainable value for shareholders, employees and host communities.

For additional information, please visit Aya’s website at www.ayagoldsilver.com.

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Appendix 1 – Full Drill Results from Boumadine (core lengths)

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

1. Ag equivalent is based on a silver price of US$30/oz with a process recovery of 89%, a gold price of US$2,800/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: 79.3g/t Ag; 1% Cu: 68.3 g/t Ag; 1% Pb: 19.4 g/t Ag; and 1% Zn: 19.7 g/t Ag.

Appendix 2 – New Drillhole Coordinates of 2026 Boumadine Exploration Program (completed holes)

2. The complete NI 43-101 Technical Report entitled “Technical Report and Updated Mineral Resource Estimate of the Boumadine Polymetallic Project, Kingdom of Morocco” dated December 18, 2025, (2025 PEA) is available on Aya’s website and on SEDAR+ (www.sedarplus.ca). The PEA is preliminary in nature, and it includes inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and, as such, there is no certainty that the PEA results will be realized.