Aya Gold & Silver Announces Completion of Strategic Transaction with Mx2 Mining
PRESS RELEASE
Aya Gold & Silver Announces Completion of Strategic
Transaction with Mx2 Mining
Montreal, Quebec, April 16, 2025 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce the successful closing of the previously announced strategic
transaction with Mx2 Mining Inc. (“Mx2”), which includes the transfer of rights to the Amizmiz Gold
Project (“Amizmiz” or the “Project”) located in the Kingdom of Morocco (the “Transaction”).
Transaction Highlights
• Mx2 acquires 100% interest in the Amizmiz Gold Project
• Historical Inferred Mineral Resource* of 340,000 ounces at 12.98 g/t gold
• Strong capital base supports growth
• Private placement completed with C$16 million raised
• Aya invested C$1 million in the financing and in combination with the Transaction now owns
42.3% of Mx2
• Mx2 directors and officers hold 10%; institutional investors hold 23%
• Governance aligns with Aya’s strategic interest
• Benoit La Salle (Aya President & CEO) and Ugo Landry-Tolszczuk (Aya CFO) appointed to
Mx2’s Board of Directors
• Operational momentum in Morocco
• Mx2 exploration and operations team fully established
• Mx2 Marrakech office, situated near Aya’s existing operations, opened
• Mx2 active pipeline of new opportunities under evaluation across Morocco and Mauritania
* Not National Instrument 43-101 compliant.
“This transaction creates value for all Aya shareholders by unlocking the potential of Amizmiz through
a focused, well-capitalized partner – Mx2,” stated Benoit La Salle, President and CEO. “We view this
as a terrific partnership that leverages Aya’s platform in Morocco while maintaining meaningful
exposure to upside through our equity interest and Board representation. Mx2’s experienced team
and aggressive exploration mandate will strongly complement Aya’s growth strategy across the
region.”
“We’re very pleased to have completed the transaction to formally launch Mx2 Mining,” commented
Adam Spencer, President and CEO of Mx2. “Over the past several months, we’ve worked hard to build
a strong presence in Morocco, assembl ing a high-caliber team, and laying the groundwork for long-
term success. With deep experience in the gold sector, a history of success in Africa and the strong
support of Aya, we believe Mx2 is uniquely positioned to pursue high-growth exploration
opportunities across Morocco and North Africa.”
Transaction Summary
Effective April 15, 2025, Mx2 has acquired and holds a 100% interest in the Amizmiz Gold Project and
has entered into an investor rights agreement (the “IRA”) with Aya, as well as Mx2 founders Mr. Richard
Clark and Mr. Adam Spencer. In conjunction with the Transaction, Mx2 completed a brokered private
placement for gross proceeds of C$16.0 million, priced at C$0.50 per unit (see Mx2 news release dated
November 20, 2024). Subscription receipts converted on a 1:1 basis into 28,680,000 common shares
upon closing, and escrowed proceeds have been released.
As consideration for the Transaction, Aya received 20,000,000 common shares, and now holds 42.3%
of Mx2’s outstanding 52,000,001 shares. Aya, Clark, and Spencer are subject to a two -year lock-up on
their respective holdings, extending to November 14, 2026.
Operational Presence in Morocco
Mx2 has established its Moroccan headquarters in Marrakech, strategically located less than one hour
from the Amizmiz property and adjacent to Aya’s local office. The shared proximity is designed to foster
collaboration, streamline logistics, and support rapid execution on the ground. This location enables
close coordination with Mx2 on-the-ground partners , including Aya, and provides a central base to
support exploration activities.
Qualified Person
David Lalonde, B.Sc. P. Geo, Vice President, Exploration is Aya Gold & Silver’s Qualified Person and has
reviewed this press release for accuracy and compliance with National Instrument 43-101.
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 management team maximizes shareholder value by anchoring sustainability at the heart of its
production, resource, governance, and financial growth plans.
For additional information, please visit Aya’s website at www.ayagoldsilver.com or contact:
Benoit La Salle, FCPA, MBA
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 “potential”, “success”, “believe”, “design”, , 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 are not limited to, statements and
information with respect to the exploration and development potential of Amizmiz and the advancement
of and success of Mx2. 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 ability
to obtain any requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource
Estimates and notably the Historical Inferred Mineral Resource , gold price, 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 exploration and development of mineral properties, including government
approvals and permitting, changes in economic conditions, changes in the worldwide price of silver 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 2024 Annual Information Form dated March 31, 2025, and in other filings of Aya with
securities and regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Aya does not
undertake any obligation to update forward -looking statements should assumptions related to these
plans, estimates, projections, beliefs, and opinions change. Nothing in this document should be
construed as either an offer to sell or a solic itation to buy or sell Aya securities. All references to Aya
include its subsidiaries unless the context requires otherwise.