Aya Gold & Silver Files Amended NI 43-101 Technical Report on Zgounder

MONTREAL, June 16, 2022 /CNW Telbec/ – Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) (“Aya” or the “Company”) announces that it has filed on SEDAR an amended version of the independent feasibility study technical report (the “Technical Report”), which complies with National Instrument was created 43-101 (“NI 43-101”) for the extension of the Zgounder silver mine in the kingdom of Morocco.

The Technical Report, dated June 16, 2022, was submitted under the Continuous Disclosure Review Program of the Autorités des Marches Financiers. The amendments to the technical report replace certain members as external independent Qualified Persons for compliance with NI 43-101 and do not change the accompanying mineral reserve estimates, economic analysis, conclusions and recommendations dated in the original report dated March 31, 2022for the expansion of Zgounder silver mine. The effective date of the Technical Report remains the same as in the original report. There are also no differences between the technical report and the information in the February 22, 2022 press release.

Subsequent to the above, Aya has filed an amended version of its Annual Information Form (“AIF”) on SEDAR. In addition to SEDAR, the Technical Report and AIF can be found on the Company’s website (www.ayagoldsilver.com).

Qualified Person

The technical information contained in this press release has been reviewed and approved by Patrick Perez, P.EngDirector of Technical Services at Aya, a QP under NI 43-101.

Around Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is a fast growing Canada-based silver producer with offices in the Kingdom Morocco.

Aya is the only TSX listed pure silver mining company and operates the high grade deposit Zgounder silver mine and is exploring its properties along the prospective South Atlas Fault, several of which host past producing mines and historic resources. Aya’s Moroccan mining assets are complemented by his Tijirit Gold Project in Mauritaniawhich is being pushed towards feasibility.

Aya’s management team is focused on maximizing shareholder value by embedding sustainability at the heart of its manufacturing, resource, governance and financial growth plans.

Visit Aya’s website at for more information www.ayagoldsilver.com.

Forward-Looking Statements

This press release contains certain statements that constitute “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”), which reflect management’s expectations regarding the future growth and business prospects of Aya (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as “potential”, “could”, “opportunity”, “support”, “suggest”, “expects”, “likely” and similar expressions or statements that certain actions, events or results “may”, “Could”, “would”, “could”, “will” or “likely” be met, occur or be achieved have been used to identify such forward-looking information. Specific forward-looking statements in this news release include, but are not limited to, statements and information regarding Zgounder’s exploration and development potential and conversion of Inferred Mineral Resources to Measured and Indicated Mineral Resources, future opportunities to enhance development at Zgounder and timing for issuing the Company’s disclosure in connection with the foregoing. Although the forward-looking information contained in this press release represents management’s current beliefs based on information currently available to management and based on what management believes to be reasonable assumptions, Aya cannot be assured that the actual results will be consistent with such forward-looking information. Such forward-looking statements are based on management’s beliefs, opinions and analyzes in light of its experience, current conditions and its expectations of future developments that management believes are reasonable and relevant, but which may prove to be incorrect. These assumptions include, among other things, the completion and timing of the financing, the ability to obtain all necessary regulatory approvals, the accuracy of mineral reserve and mineral resource estimates (including but not limited to ore tonnage and grade estimates), silver price, exchange rates, fuel and energy costs, future economic conditions, anticipated future free cash flow estimates and courses of action. Aya cautions you not to place undue reliance on such forward-looking statements.

Risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks associated with exploration and development of mineral properties, including governmental permits and approvals, changes in economic conditions, changes in the global price of silver and others major inputs, changes in mine plans (including but not limited to throughput and recoveries impacted by metallurgical characteristics) and other factors such as project execution delays, many of which are beyond Aya’s control, and other risks and Uncertainties that are discussed in Aya’s 2021 Annual Information Form dated March 31, 2022and in other filings by Aya with securities and regulatory authorities available on SEDAR at www.sedar.com. Aya undertakes no obligation to update any forward-looking statements should assumptions regarding these plans, estimates, projections, beliefs and opinions change. Nothing contained herein should be construed as an offer to sell or a solicitation to buy or sell any Aya securities. All references to Aya include its subsidiaries unless the context otherwise requires.

SOURCE Aya Gold & Silver Inc

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