Aya Gold & Silver Announces January 2025, Fourth Quarter and Full Year 2024 Production Results
PRESS RELEASE
Aya Gold & Silver Announces January 2025, Fourth Quarter
and Full Year 2024 Production Results
Montreal, Quebec, February 11, 2025 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce production of 491,310 ounces (“oz”) of silver (“Ag”) in Q4-2024
at its Zgounder Silver Mine, located in the Kingdom of Morocco. In addition, Aya is pleased to report
production of 383,515 oz of Ag, in January 2025.
Select Production Metrics
Production Metrics Q4-2023 Q4-2024 January
2025
Silver production oz 450,046 491,310 383,515
Tonnage processed kt 66,449 113,674 88,868
Silver recovery % 87 85 87
Mill availability % 91 88 95
Mine production t 176,208 102,485 50,403
Production Highlights
• Silver (“Ag”) production of 491,310 oz in Q4-2024 and 383,515 oz in January
2025, the latter of which represents an increase of 77% over December 2024.
• Processed 113,310 tonnes (“t”) in Q4-2024 and 88,868t of ore in January 2025,
the latter of which represents an increase of 53% over December 2024.
• Silver recovery of 85% in Q4-2024 and 87% silver recovery in January 2025, the
latter of which represents an increase of 6% over December 2024.
• Combined mill availability of 88% in Q4-2024 and 95% mill availability in January
2025, the latter of which represents an 8% increase compared to December
2024.
• Mine production of 102,485t in Q4-2024 and 50,403t of ore mined in January
2025, the latter of which represents a 29% increase compared to December
2024, as per Aya’s mine ramp up plan.
"I am pleased to announce Q4-2024 and January 2025 production results, achieving 2024 production
guidance and highlighting a significant step-change in output and an 77% month-over-month increase
from December 2024 to January 2025 . This strong performance is driven by improving recoveries
and the successful ramp-up of the new Zgounder plant, which is operating above nameplate capacity,
alongside the open pit, which continues to exceed expectations ,” stated President & CEO Benoit La
Salle. “Month-over-month improvements across the integrated operations at Zgounder reflect
disciplined execution and operational strength, positioning us for sustained production growth and
record profitability in 2025.”
Q4-2024 and Full Year 2024 Production Metrics
Key Production Metrics Q4-2024* FY-2024*
Tonnage processed t 113,674 358,919
Silver ingots produced oz 235,227 592,268
Silver in concentrate for sale produced oz 256,083 1,053,997
Total silver produced oz 491,310 1,646,265
* 2024 numbers are preliminary and are subject to final adjustment.
In 2024 the new mill was commissioned and reached commercial production in late December 2024.
Underground stopes were further defined, and levels down to 1900 were developed. The open pit
performed well which gives further flexibility to reach the objective of 3,000 tonnes per day (“tpd”) total
mining rate in 2025.
Q4-2024 and Full Year Earnings Release Date
Aya will release its fourth quarter and full year 2024 financial and operational results before market
open on March 28, 2025 and will host a conference call shortly afterwards. Details of the call will be
released at a later date.
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, subject to the announcement of September 12, 2024, will be
developed by Mx2 Mining, a new spinout gold-growth company.
Aya’s management team has been focused on maximizing 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, 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 “continue”, “significant”, “increase”, “potential”, “confirm”, “growth”,
“near”, “add”, 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 continuity of the
mineralization and its grade, the potential to increase recoveries and ramp-up and achieve a3,000
tonnes per day mining rate. 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, obtaining regulatory permits for
on-site work, importing goods and machinery and employment permits, the accuracy of Mineral 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 exploration 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 2023 Annual Information Form dated March 28, 2024, 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 solicitation to buy or sell Aya securities. All references to Aya
include its subsidiaries unless the context requires otherwise.