Additional Boumadine Mining Licence SecuredMONTREAL, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to report new high-grade drill results and the identification of a new parallel structure approximately 500 metres (“m”) east of the Boumadine Project (“Boumadine” or the “Project”) from its ongoing drill program in the Kingdom of Morocco. These results confirm strong high-grade continuity along the Boumadine Main Trend and support the ...

Focus on Optimizing Zgounder Silver Mine and Accelerating the Boumadine Polymetallic ProjectMONTREAL, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to provide its 2026 outlook and present the Corporation’s key operational and strategic priorities that will guide execution in the coming year. All amounts are in U.S. dollars unless otherwise indicated. Highlights 2026 Outlook Total production: 6.2 to 6.8 million silver-equivalent1 ou ...

Core Viewpoint - Aya Gold & Silver Inc. has reported significant exploration results for 2025, highlighting the potential for substantial high-grade silver and polymetallic resources at the Zgounder Silver Mine and Boumadine Project in Morocco, supported by extensive drilling and new permits [2][5][20]. Zgounder Mine Exploration - The exploration at Zgounder included over 175,000 meters of drilling, exceeding the target of 20,000–25,000 meters, confirming significant mineralization at depth and extending the open pit [5][10]. - Notable drill results include: - Hole DZG-SF-24-228: 3,794 g/t Ag over 10.0 m - Hole DZG-SF-24-412: 3,279 g/t Ag over 8.0 m, including 6,425 g/t Ag over 4.0 m - Hole ZG-RC-24-413: 1,001 g/t Ag over 28.0 m, including 2,787 g/t Ag over 7.0 m [5][10][11]. - The updated mineral resource estimate as of December 2025 shows: - Proven and Probable (P&P) Reserves: 73 million ounces (Moz) Ag at 145 g/t - Measured & Indicated Resources: 100 Moz Ag at 165 g/t, reflecting a 5% increase from the previous estimate [5][9]. Boumadine Exploration - Boumadine's exploration involved 569 drill holes totaling 150,325 meters, with significant mineralization confirmed, including: - BOU-MP25-087: 2,323 g/t AgEq over 15.0 m, including 3,858 g/t AgEq over 8.7 m - BOU-RC25-026: 3,336 g/t AgEq over 6.0 m, including 8,163 g/t AgEq over 2.0 m [20][25]. - The updated mineral resource estimate as of March 31, 2025, includes: - Indicated Mineral Resource: 5.2 million tonnes (Mt) at 91 g/t Ag, 2.78 g/t Au, 2.8% Zn, and 0.85% Pb, containing an estimated 15.1 Moz of Ag - Inferred Mineral Resource: 29.2 Mt at 82 g/t Ag, containing an estimated 76.8 Moz of Ag, reflecting a 120% increase from the prior estimate [22][25]. Additional Exploration and Future Plans - The company has added 16 new exploration permits, expanding the exploration footprint in Morocco to 378.8 km² for Zgounder and 340.74 km² for Boumadine [2][9][20]. - Future exploration plans include geological mapping, geochemical campaigns, and machine learning-based geoanalytics to identify new targets for 2026 [18][20].

Core Viewpoint - Aya Gold & Silver Inc. has achieved financial completion under its US$100 million project loan with the European Bank for Reconstruction and Development for the expansion of the Zgounder Silver Mine in Morocco [1][2]. Financial Milestones - Financial completion was reached after a thorough technical and financial review by the EBRD, indicating the mine's successful transition to commercial production and compliance with financial covenants and the Environmental and Social Action Plan [2]. - This achievement leads to a reduction in the Corporation's security guarantees and a decrease in the debt service recovery account, which is recorded as restricted cash in the financial statements [3]. Company Operations and Growth - The President & CEO of Aya Gold & Silver highlighted that achieving financial completion is a significant milestone, showcasing the team's execution and operational robustness, positioning the company to generate strong free cash flow and pursue its next growth phase [4]. - Aya operates the Zgounder mine, a unique silver-only mine, and is expanding its processing facility. The company also has a growth pipeline that includes the Boumadine polymetallic project, which has substantial mineral resources and exploration potential [5]. Corporate Vision - Aya is led by a team of experienced mining professionals and is committed to responsible mining practices, aiming to deliver sustainable value for shareholders, employees, and host communities [6].

Core Viewpoint - Aya Gold & Silver Inc. announces the retirement of two long-standing Board members, Robert Taub and Dr. Jürgen Hambrecht, who will not stand for re-election at the upcoming annual meeting, marking a significant transition in the company's governance [1][4]. Group 1: Board Member Contributions - Robert Taub has been on the Board for 10 years, serving as Chair since 2020, and has been pivotal in Aya's evolution and turnaround over the past five years, providing strategic leadership [2]. - Dr. Jürgen Hambrecht has served on the Board since 2019 and has played a key role in strengthening Aya's governance framework and advancing best practices [3]. Group 2: Shareholder Transactions - In connection with the Board transition, Robert Taub and Dr. Jürgen Hambrecht sold a total of 7.5 million shares, while remaining significant long-term shareholders of Aya [4]. - Members of management sold approximately 1.1 million shares, representing about 12% of the executive management team's holdings, primarily from shares issued upon the exercise of long-term incentive plan options [4]. Group 3: Company Overview - Aya Gold & Silver is a Canadian precious metals mining company based in Morocco, focused on expanding its resource base and land package along the Anti-Atlas Fault, a geologically rich region [6]. - The company operates the Zgounder silver mine and is advancing the Boumadine polymetallic project, which has substantial mineral resources and significant exploration potential [7].

Core Viewpoint - Aya Gold & Silver Inc. announces the retirement of two long-standing Board members, Robert Taub and Dr. Jürgen Hambrecht, who will not seek re-election at the upcoming annual meeting, marking a significant transition in the company's governance [1][5]. Group 1: Board Member Contributions - Robert Taub has been on the Board for 10 years, serving as Chair since 2020, and has been pivotal in Aya's evolution and turnaround over the past five years, providing strategic leadership [2]. - Dr. Jürgen Hambrecht has served on the Board since 2019 and has played a key role in strengthening Aya's governance framework and advancing best practices [3]. Group 2: Shareholder Transactions - In connection with the Board transition, Taub and Hambrecht sold a total of 7.5 million shares, while remaining significant long-term shareholders of Aya [4]. - Management members sold approximately 1.1 million shares, representing about 12% of the executive management team's holdings, primarily from shares issued through long-term incentive plan options [4]. Group 3: Company Overview - Aya Gold & Silver is a Canadian precious metals mining company based in Morocco, focused on expanding its resource base and land package along the Anti-Atlas Fault, a geologically rich region [6]. - The company operates the Zgounder silver mine and is advancing the Boumadine polymetallic project, which has substantial mineral resources and significant exploration potential [7]. - Aya is committed to responsible mining and aims to deliver sustainable value for shareholders, employees, and host communities [8].

Core Viewpoint - Aya Gold & Silver Inc. reported record production and operational metrics at its Zgounder Silver Mine for Q4-2025, highlighting a strong performance and strategic positioning for future growth [1][3][10]. Production Metrics - In Q4-2025, silver production reached 1,371,300 ounces, a 2% increase from Q3-2025, contributing to a total of 4,829,151 ounces for the year, which is a 193% increase year-over-year [3][10]. - The average ore processed was 349,242 tonnes in Q4-2025, a 14% increase from Q3-2025, with a total of 1,178,420 tonnes processed for the year, marking a 228% increase compared to 2024 [3][10]. - The average head grade processed was 134 grams per tonne (g/t) for Q4-2025, down 8% from Q3-2025, while the silver recovery rate was 91.2%, slightly lower than the previous quarter [3][4]. - Mill availability was recorded at 99.0% in Q4-2025, indicating consistent operational reliability [3][5]. Operational Highlights - The Zgounder mine achieved a record mining rate of 4,187 tonnes per day (tpd) at an average grade of 130 g/t, with underground mining contributing 1,387 tpd at 161 g/t and open-pit operations contributing 2,800 tpd at 115 g/t [5][8]. - December 2025 marked a record month with a milling rate of 4,107 tpd and silver production of 545,491 ounces, showcasing the effectiveness of operational strategies [1][8]. - The company implemented blast-movement control and bench-by-bench modeling to enhance ore recovery and minimize dilution, which will remain a focus in 2026 [6]. Boumadine Operations - In 2025, the company began reclaiming and selling its historical pyrite stockpile at Boumadine, achieving production of 1,245 ounces of gold and 83,480 ounces of silver, totaling 172,129 ounces of silver equivalent for the year [9][10].

Core Viewpoint - There is a significant disconnect between the rising price of silver and the performance of silver mining stocks, with the latter underperforming despite a strong rally in silver prices [1][2][5]. Group 1: Silver Price Performance - Silver prices surged by 35% in December, reaching over $76 per ounce, marking the strongest monthly rally since the late 1970s and a year-to-date increase of 154.57% [2][5][6]. - On Tuesday, silver prices increased by over 6% to $76 per ounce, but saw a slight decline of 1.44% to $75.13 per ounce on Wednesday morning [6]. Group 2: Silver Mining Stocks Performance - The Global X Silver Miners ETF (NYSE:SIL) only increased by 11% in December, significantly lagging behind the silver price surge [2][5]. - Notable silver mining stocks have shown underwhelming performance, with year-to-date increases ranging from 89.60% to 444.90%, but month-to-date performances remain low, with most stocks below 15% [5][6]. - The Global X Silver Miners ETF closed at $85.51, up 1.38% on Tuesday, but still reflects a lack of momentum compared to silver prices [7]. Group 3: Investment Opportunities - The disparity between silver prices and mining stocks presents an attractive investment opportunity, as silver stocks are considered to be undervalued following a 14% correction in silver prices [4][5]. - Schiff argues that silver mining stocks should have doubled in value given the recent surge in silver prices, indicating potential for significant upside [2][3].

Core Insights - Silver has experienced a remarkable rally of 152% year-to-date, marking its strongest annual performance since 1978, significantly outperforming gold, which is up 66.22% [1] - Both silver and gold reached record highs recently, with silver surpassing $82 per ounce before a subsequent decline of 14% [1] Market Drivers - Silver's rally is driven by its unique position as both a precious metal and an industrial commodity, with strong demand from sectors like solar panels, electric vehicles (EVs), and advanced electronics [2][5] - The initial surge was influenced by economic policies and trade tensions, particularly those initiated by President Donald Trump, alongside a supply crunch due to increasing industrial demand [2] Supply Dynamics - The global silver market is projected to face its seventh consecutive year of deficit by 2025, with a cumulative shortfall of nearly 800 million ounces since 2021, as mine output continues to decline [4] - The available inventory of freely traded silver has significantly decreased, making the market more sensitive to demand fluctuations, which could lead to substantial price increases with even minor demand upticks [4] Market Conditions - Silver has seen its best monthly performance since the late 1970s, gaining 33.16% since early December, attributed to tightening physical supplies and low inventories [6] - The market has entered a state of "backwardation," where spot prices exceed futures prices, indicating acute physical shortages [6][7] Future Outlook - Analysts predict that silver prices could test the $85–$100 per ounce range as structural deficits widen [8] - Investors are encouraged to consider exposure to silver through options like the iShares Silver Trust, which holds physical silver [9] Investment Opportunities - The surge in silver prices has not yet been fully reflected in the valuations of leading producers and junior miners, presenting potential investment opportunities [10] - Notable performers in the silver mining sector include: - Wheaton Precious Metals Corp. (+102.14% YTD) - Americas Gold And Silver Corp. (+452.04% YTD) - Coeur Mining Inc. (+195.32% YTD) - iShares MSCI Global Silver and Metals Miners ETF (+181.46% YTD) [10]

Core Viewpoint - Aya Gold & Silver Inc. has filed a Preliminary Economic Assessment (PEA) for the Boumadine Polymetallic Project in Morocco, indicating a promising development-stage project with significant economic potential [1][2]. PEA Highlights - The PEA outlines a district-scale project featuring a flexible open-pit and underground mining plan, with a conventional flotation plant producing three payable concentrates: zinc, lead, and pyrite. The project has an estimated mine life of 11 years, with revenues primarily driven by precious metals [2]. Project Economics - The PEA includes a sensitivity analysis reflecting +/- 25% variations to the Base Case scenario, showing significant changes in Net Present Value (NPV) and Internal Rate of Return (IRR) based on different gold and silver price scenarios [4]. - Under the Base Case, the post-tax NPV5% is estimated at $1.5 billion with a 47% IRR and a payback period of 2.1 years. In a Spot Price scenario, the post-tax NPV5% could reach $3.0 billion with a 77% IRR and a payback period of 1.2 years [6]. Production and Cost Metrics - Average annual production is projected at 401 thousand ounces of gold-equivalent in the first five years, with a total of 328 thousand ounces of gold-equivalent per year over the life of the mine. The initial capital cost is estimated at $446 million, with cash costs of $928 per ounce of gold-equivalent and all-in sustaining costs (AISC) of $1,021 per ounce [6][7]. Permitting and Future Plans - The project has an existing mining license, and a feasibility study is targeted for completion in late 2027, indicating a structured approach towards advancing the project [6]. Company Overview - Aya Gold & Silver Inc. is a rapidly growing silver producer based in Canada, operating in Morocco. It is the only TSX-listed pure silver mining company and is focused on maximizing shareholder value through sustainable practices [10][11].