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 ...

Production Guidance - The company provided split-year guidance indicating that the first half will include approximately 17,500 ounces of gold equivalent from existing oxide material stockpiles, requiring no additional mining [1] - Initial production guidance for the year was set at 34,000–36,000 ounces of gold equivalent, which was later raised to 36,000–38,000 ounces, ultimately exceeding expectations with a total of 39,000 ounces produced [3][5] Cost Management - The company achieved an 18% reduction in C1 costs, which encompass the operating costs to run the mine and produce an ounce of gold, positioning the operation in the first quartile of the gold cost curve at $1,244 per ounce [2] - Although all other operating costs decreased, the All-In Sustaining Costs (AISC) saw a slight increase due to rising royalties linked to higher gold and silver prices [2] Transition to Copper Production - The company is transitioning from gold and silver production to predominantly copper production, with a total production guidance of 20,000–22,000 tons of copper equivalent for the current year [4][5] - The second half of the year is expected to include a ramp-up period of approximately three months until commercial production is achieved, contributing an estimated 15,000–17,000 tons of copper equivalent [7] Project Development - The sulfide expansion project is reported to be 63% complete, on schedule, and on budget, with key equipment already on site [9] - The construction of the tailings storage facility is progressing well, with significant portions of required materials already stockpiled [10] Financial Position - The company has a financing position involving a $200 million bond, with net debt currently at $56 million and expected to be fully drawn by mid-year [13] - Ongoing cash flows from oxide production are supporting liquidity, alongside additional liquidity backstops [13] Revenue Mix Expectations - In a standard year, the company anticipates approximately 50% of revenue from copper, 25% from zinc, and 25% from gold and silver, with the current transition year expected to have a higher contribution from gold and silver due to first-half oxide production [15] Environmental and Regulatory Considerations - The company is expecting permitting for the Enriched Ore Project by year-end, which relates to processing waste stored on site [16] - Discussions are ongoing with several parties to utilize the heap leach facility for processing third-party ore after completing the processing of remaining oxide material [16] Strategic Objectives - The key objective for the year is to deliver the sulfide project on time and on budget, with potential bond refinancing opportunities anticipated in January 2027 [17] - The company is also evaluating M&A opportunities to consolidate the copper industry [18]

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. 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].