Aya Gold & Silver Categorically Rejects the Erroneous and Misleading Allegations Made Against the Company

Core Viewpoint - Aya Gold & Silver Inc. strongly refutes the claims made in a short-seller report, asserting that the allegations are misleading and intended to benefit the short seller at the expense of shareholders [1][2]. Group 1: Resource and Operations - Aya has produced over 10 million ounces of silver since 2020, with production aligning with reserve estimates, reinforcing the reliability of its resource base [7]. - The resource model for Zgounder has been supported by extensive drilling, with a total of 121,500 meters completed by December 2021 and an additional 231,000 meters from December 2021 to June 2025, enhancing confidence in the resource base [7]. - The mineral resource estimate for Zgounder has been independently verified by P&E Mining Consultants Inc. in compliance with National Instrument 43-101 [4][7]. Group 2: Financial Strength - Aya maintains a robust balance sheet with approximately US$115 million in cash, allowing the company to self-fund growth initiatives and invest in the Boumadine project [6][7]. - The company generates operating cash flow from Zgounder, which supports its financial stability and growth plans [6][8]. Group 3: Future Developments - An updated technical report for Zgounder is expected to be published before the end of 2025, which will include a new mine plan incorporating both open-pit and underground operations [5][8]. - A Preliminary Economic Assessment (PEA) for Boumadine is also on track for release before year-end, indicating ongoing development and exploration efforts [7]. Group 4: Management and Governance - Aya's management is focused on maximizing shareholder value through sustainable operations and rigorous governance practices [12]. - The company emphasizes transparency and alignment with shareholders, rejecting irresponsible speculation and standing by its operational integrity [8][9].