Aya Gold & Silver Advances Underground Development at Zgounder Silver Mine Filing of 43-101 Expansion Feasibility Study Technical Report
PRESS RELEASE
Aya Gold & Silver Advances Underground Development at Zgounder Silver Mine
Filing of 43-101 Expansion Feasibility Study Technical Report
Montreal, Quebec, April 5, 2022 - Aya Gold & Silver Inc. (TSX: AYA) (“Aya” or the “Corporation”) is pleased
to provide an update on underground development work at the Zgounder Silver Mine in the Kingdom of
Morocco.
Highlights
• Selection and mobilization of TRAV SOUSS MASSA (“TSM”) to conduct the lateral underground
mine development
o First blast carried out at end of January 2022
o 314 meters (“m”) of lateral development effected to date
• Selection of CMAC -Thyssen (“CMAC”) to carry out the vertical underground mine development
including Alimak raises
o Mobilization scheduled for June 2022
“We are quickly de-risking our expansion and advancing the underground mine buildout with the timely
award of the lateral and vertical development tenders and the mobilization of the two established
contractors.” said Benoit La Salle, President & CEO. “We are particularly thrilled to be working with a local
contractor, which speaks to the depth of the mining services industry in Morocco. We look forward to
updating stakeholders as we advance.”
Contractor Selection
Aya launched a tender in November 2021 for the development of the Zgounder underground mine over a
two-year period.
Moroccan-based TSM was selected to carry out the lateral development (main levels and connecting
ramps), and CMAC was selected for the vertical development (four Alimak raises for ventilation, ore pass
and waste pass).
TSM
TSM is a merger of three companies: TRAGI, TRAV SOUSS MASSA and CMDT. TSM was selected on the
basis of its competitive offer, local presence, and experience in mining development. Additionally, TSM
has an excellent track record over its nine-year history in Morocco.
Under the scope of its contract, TSM is responsible for the following project work streams including:
• First phase of lateral development for construction of the underground infrastructures
o Includes 4,262m of level development of various sections (4m x 4.5m and 4.5m x 5m) as
well as 720m of ramp connections between underground levels
• Completion of the work over an 18-month period.
CMAC-Thyssen
CMAC is a Canadian contractor and manufacturer that has a presence in 15 countries and has been
active in Morocco for over 10 years. CMAC was selected for being one of the best contractors in Morocco
with Alimak raise excavation experience and for its ability to train local employees. An Alimak raise is a
mechanized raise method used to develop escapeways, ventilation raises, ore and waste passes, and
slot raises in underground mines.
CMAC will receive its equipment at Zgounder in June 2022 and will begin development of the 4 Alimak
raises for expected completion within twelve months of the start date. The Alimak program will include:
• A ventilation exhaust raise of 9m2 section and 187m length
• A ventilation intake raise of 9m2 section and 130m length
• An ore pass of 4 m2 section and 165m length
• A waste pass of 4 m2 section and 180m length
TSM Development Update
In January, TSM launched the development and construction of the main underground infrastructures
with the first blast of the new mine portal located at the 2,000m level (see Figure 1).
Figure 1 – New Mine Entrance at the 2,000 Level
As of March 31, 2022, TSM had completed a total of 314m of lateral development between the 2,000m
level and 1,975m levels as well as the ramps connecting the 1 ,975m and 2,000m levels and the 1,950m
and 1,975m levels (see Figure 2). The next step is to connect the new and existing infrastructure at the
2,000m level in addition to preparing the area where CMAC will install the Alimak and develop the
ventilation raise.
Figure 2 – Underground Development (Isometric View to North) of Zgounder Mine Workings
Filing of 43-101 Feasibility Study Technical Report
The Corporation has also filed on SEDAR an independent feasibility study technical report prepared in
accordance with National Instrument 43-101 for the expansion of the Zgounder Silver Mine. There are no
differences between the technical report and the in formation disclosed in the February 22, 2022 news
release. In addition to SEDAR, the report can be found on the Corporation’s website
(www.ayagoldsilver.com).
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 is being advanced to feasibility.
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.
Or contact
Benoit La Salle, FCPA FCA
President & CEO
Alex Ball
VP, Corporate Development & IR
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 reflects management's
expectations regarding Aya’s future growth and business prospects (including the timing and
development of new deposits and the success of exploration activities) and other opportunities.
Wherever possible, words such as “de-risk”, “advance”, “plans”, “expects”, and similar expressions or
statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to
be taken, occur or be achieved, have been used to identify such forward -looking information. Specific
forward-looking statements in this press release include, but ar e not limited to, statements and
information with respect to the exploration and development potential of Zgounder and the conversion
of Inferred Mineral Resources into Measured and Indicated Mineral Resources, future opportunities for
enhancing developmen t at Zgounder, and timing for the release of the Company's disclosure in
connection with the foregoing. Although the forward-looking information contained in this press release
reflect management's current beliefs based upon information currently available to management and
based upon what management believes to be reasonable assumptions, Aya cannot be certain that actual
results will be consistent with such forward -looking information. Such forward -looking statements are
based upon assumptions, opinions and analysis made by management in light of its experience, current
conditions, and its expectations of future developments that management believe to be reasonable and
relevant but that may prove to be incorrect. These assumptions include, among other things, the closing
and timing of financing, the ability to obtain any requisite governmental approvals, the presence of
artisanal miners, obtaining regulatory permits for on site work, importing goods and machinery and
employment permits, the accuracy of Miner al Reserve and Mineral Resource Estimates (including, but
not limited to, ore tonnage and ore grade estimates), the price of silver, the price of gold, exchange rates,
fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and
courses of action. Aya cautions you not to place undue reliance upon any such forward -looking
statements.
The risks and uncertainties that may affect forward -looking statements include, among others: the
inherent risks involved in explorati on and development of mineral properties, including government
approvals and permitting, changes in economic conditions, changes in the worldwide price of silver gold
and other key inputs, changes in mine plans (including, but not limited to, throughput and recoveries being
affected by metallurgical characteristics) and other factors, such as project execution delays, many of
which are beyond the control of Aya, as well as other risks and uncertainties which are more fully
described in Aya's 2021 Annual Information Form dated March 31, 2022, and in other filings of Aya with
securities and regulatory authorities which are available on SEDAR at www.sedar.com. Aya does not
undertake any obligation to update forward -looking statements should assumptions related to t hese
plans, estimates, projections, beliefs, and opinions change. Nothing in this document should be
construed as either an offer to sell or a solicitation to buy or sell Aya securities. All references to Aya
include its subsidiaries unless the context requires otherwise.