Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased to announce that it has reached and surpassed the nameplate milling capacity at its 100% owned Zgounder Mine located in the Kingdom of Morocco.

The new plant began processing ore on November 4^th, 2024. The first silver pour was achieved on November 27^th, with commercial production reached on December 29^th, less than two months after the new plant began processing the first ore.

Over a consecutive 30-day period ending on January 20^th, 2025, the new plant processed a total of 65,990 tonnes of ore, an average of 2,200 tonnes per day, and equivalent to 110% of nameplate capacity. Processing rates averaged 96 tonnes per hour, at 96% availability. Silver recovery was 85%.

Between January 11^th and January 20^th, mill throughput averaged 2,239 tpd, with mill availability and silver recovery at 98% and 89%, respectively. Recovery improved consistently as processing parameters were adjusted and grade fed to the plant increased.

As of January 18^th, the flotation plant slurry was successfully integrated into the new plant’s leaching circuit. Since then, the combined processing rate of both plants has averaged over 2,900 tpd with a recovery rate exceeding 90%. This integration enables the exclusive production of silver doré, eliminating the previous mix of silver concentrate and doré, increasing the payable value of silver produced.

In the coming months, the goal is to stabilize the combined processing rate at Zgounder above 3,000 tpd while maintaining or exceeding the recovery rate of 89% determined in the feasibility study.

Soutex, a Canadian consulting firm specializing in mineral processing and metallurgy, recently conducted a study analyzing the time required to ramp up mineral processing plants from the first ore in the mill to achieving nameplate capacity (Figure 1). The study identified the new Zgounder plant as delivering amongst the quickest ramp-up performance to nameplate capacity, showcasing the robustness of the plant.

“I am proud to announce the ramp-up of the new plant at Aya’s expanded Zgounder mine, where we are now operating above nameplate capacity just weeks after achieving commercial production,” commented President & CEO Benoit La Salle. “The performance of the now integrated operations at Zgounder reflects the exceptional expertise and commitment of the Aya team and sets the stage for strong production performance in 2025.”

Figure 1 – The dataset below was compiled by Soutex and shows the ramp up time for Zgounder’s new plant to reach design capacity, which is the shortest (tied with another project) compared to 100+ other mineral processing plants. Database from Rollins and Lam (2017) [1] in comparison with Soutex’s experience [2].

[1] Rollins, D. and W. Lam. Ramp-ups: What to expect when expecting a new mine. RBC Markets Precious Metals and Minerals. September 17th, 2017.

[2] Bouffard, D., A. Berton, S. Gariépy and D. Roy. Plant Commissioning: overcoming challenges and ensuring success. 57th Annual Canadian Mineral Processors Operators Conference, 2025, Ottawa, Canada.

Raphaël Beaudoin, P.Eng., Vice President, Operations of the Company, is a Qualified Person as defined by NI 43-101. Mr. Beaudoin has reviewed the technical information in this news release and approves the written disclosure contained herein.

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, subject to the announcement of September 12, 2024, will be developed by Mx2 Mining, a new spinout gold-growth company.

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.

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