Aya Gold & Silver Announces EIA Approval for Zgounder and its Community Investment Program with the BDA Foundation in Morocco
Aya Gold & Silver Announces EIA Approval for
Zgounder and its Community Investment
Program with the BDA Foundation in Morocco
MONTREAL
,
Feb. 28, 2022
/CNW Telbec/ -
Aya Gold & Silver Inc.
(TSX: AYA) ("Aya" or the
"Corporation") is pleased to announce it has received regulatory approval of the Environmental
Impact Assessment ("EIA") for the expansion of its Zgounder Silver Mine from the Moroccan
Authorities. Aya is also pleased to announce its partnership with the Biotechnology for Sustainable
Development in Africa Foundation ("BDA") to develop and support local agribusinesses and provide
access to international markets in the Askaoun region in the Kingdom of
Morocco
.
"The granting of the EIA represents a major milestone for Zgounder," said
Benoit La Salle
, President
& CEO. "This approval, along with our robust expansion feasibility study, announced last week,
provides us with enough comfort to order long-lead construction items. We would like to thank the
Moroccan authorities and the communities who collaborated with us diligently throughout the process
to deliver an expansion, which will benefit all stakeholders."
"Further, we are pleased to concurrently announce our inaugural CSR partnership with the BDA
Foundation, an international non-profit organization to support Ecopreneurs and local agricultural
businesses in
Morocco
to succeed in
Africa's
emerging botanical and agricultural industry, in the
cosmetics, nutraceuticals, and biopharmaceuticals segments. This financial investment has
significant economic and social benefit and highlights our commitment to deliver positive and
measurable impact to the community, including local community-based job creation over the next 5
years."
BDA's approach, with 17 years of experience in sub-Saharan Africa, is centered on the supply chain
of high value botanicals, allowing local entrepreneurs to capture the profits, instead of the usual
intermediaries. Thus, eco-companies, led by local entrepreneurs, are trained, certified, and
supported for the start-up of their local SMEs, each creating local jobs in added value products,
contributing to the socio-economic inclusion of local populations.
Aya is aligning its Biodiversity For the Development of the Atlas region Program with national
development strategies through
Morocco's
Green Generation Program and with international
institutions' focus on value creation through the development of agribusinesses and alignment with
the Nagoya Protocol.
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
.
Forward-Looking Statements
This press release may contain or incorporate by reference, certain statements, other than historical
facts, including but not limited to any information as to the future financial or operating performance
of Aya, that constitute forward-looking information within the meaning of applicable securities laws
("forward-looking statements"), which reflects management's expectations, estimates and
projections regarding Aya's future growth and business prospects (including the timing and
development of deposits and the success of exploration activities) and other opportunities as of the
date of this news release.
Forward-looking statements include future events and opportunities including, without limitation,
statements with respect to: exploration and development potential of Zgounder, our estimates,
expectations, forecasts and guidance, production costs of sales, all-in sustaining cost and capital
expenditures, cost savings, project economics (including net present value and internal rates of
return) and other information contained in the feasibility study; as well as references to other
possible events, the future price of silver, the estimation of mineral reserves and mineral resources,
the realization of mineral reserve and mineral resource estimates, the timing and amount of
estimated future production, costs of production, estimates of necessary capital, cost of capital,
capital expenditures, costs and timing of the development of the project and mining and processing
activities, permitting timelines, currency fluctuations, requirements for additional capital, government
regulation of mining operations, and environmental risks.
Wherever possible, words such as "develop", "support", "provide", "comfort", "commit", "deliver",
"support", "contribute", "confirm", "intend", 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.
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. 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 1) there being
no significant disruptions affecting the operations of the Corporation whether due to COVID-19
restrictions, artisanal miners, access to water, extreme weather events and other or related natural
disasters, labour disruptions, supply disruptions, power disruptions, damage to equipment or
otherwise; (2) permitting, development, operations and production from the Zgounder project being
consistent with the Corporations' expectations; (3) political and legal developments in the Kingdom of
Morocco
being consistent with its current expectations; (4) the exchange rate between the U.S.
dollar and the Moroccan Dirham being approximately consistent with current levels; (5) certain price
assumptions for silver; (6) prices for diesel, process reagents, fuel oil, electricity and other key
supplies being approximately consistent with current levels; (7) production and cost of sales
forecasts meeting expectations; (8) the accuracy of the current mineral reserve and mineral
resource estimates of the Corporation; (9) labour and materials costs increasing on a basis
consistent with the Corporation's current expectations; and (10) asset impairment (or reversal)
potential, being consistent with the Corporation's current expectations. Known and unknown factors
could cause actual results to differ materially from those projected in the forward-looking
statements. All of the forward-looking statements made in this news release are qualified by these
cautionary statements and those made in our other filings with the securities regulators of
Canada
including, but not limited to, the cautionary statements made in the "Risk Factors" section of our
Annual Information Form dated
March 31, 2021
and the "Risk Analysis" section of our Q3/2021
Management's Discussion & Analysis and in other filings of Aya with securities and regulatory
authorities which are available on SEDAR at
www.sedar.com
. These factors are not intended to
represent a complete list of the factors that could affect the Corporation. Aya disclaims any intention
or obligation to update or revise any forward-looking statements or to explain any material difference
between subsequent actual events and such forward looking statements, except to the extent
required by applicable law.
SOURCE
Aya Gold
& Silver Inc
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For further information:
Benoit La Salle, FCPA FCA, President & CEO,
[email protected]; Alex Ball, VP, Corporate Development & IR,
CO: Aya Gold & Silver Inc
CNW 07:00e 28-FEB-22