Aya Gold & Silver Identifies New Mineralized Zone to the North and Reports High-Grade Silver Results at Zgounder
PRESS RELEASE
Aya Gold & Silver Identifies New Mineralized Zone to the
North and Reports High-Grade Silver Results at Zgounder
Montreal, Quebec, September 9, 2025 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or
the “Corporation”) is pleased to announce the discovery of a new mineralized zone located north of
the current open-pit and high-grade silver results from its ongoing drill exploration program at the
Zgounder Silver Mine, in the Kingdom of Morocco.
Highlights (all intersections are in core lengths)
• Discovery of a new mineralized zone north of the current open-pit;
hole ZG-25-156 intercepted 167 grams per tonne (“g/t”) silver (“Ag”)
over 2.0 meters (“m”) in a broader interval of 19.0m
• Intersections in the Central Area:
• Hole DZG-SF-25-641 intercepted 1,164 g/t Ag over 3.0m, including 3,116 g/t Ag over
1.0m
• Hole DZG-SF-25-648 intercepted 1,080 g/t Ag over 3.0m, including 2,820 g/t Ag over
1.0m
• Hole T28-25-816 intercepted 1,305 g/t Ag over 6.0m
• Hole T28-25-739 intercepted 525 g/t Ag over 13.2m, including 1,833 g/t Ag over 2.4m
• Intersections at Depth Near the Granite Contact:
• Hole ZG-SF-25-319 intercepted 655 g/t Ag over 4.5m, 670 g/t Ag over 3.0m and 442 g/t
Ag over 2.5m
• Intersections in the Open-Pit Area:
• Hole DZG-SF-25-696 intercepted 1,448 g/t Ag over 2.3m
• Hole DZG-SF-25-705 intercepted 444 g/t Ag over 3.0m
• 16,685m or 67% of the 2025 exploration program has been drilled
year to date.
• Zgounder Far-East exploration drill program has been completed with
results pending.
“The discovery of a new mineralized zone, north of the open-pit, is an exciting development that has
the potential to grow near-mine resources,” said Benoit La Salle, President & CEO. “We plan to follow
up with additional drilling in the coming months. In parallel, high-grade intercepts such as hole ZG-
SF-25-319 in the west area near the granite contact further demonstrate the mineralisation at depth,
extending beyond the current resource model.”
Included in this release are results from 259 holes, which include 114 underground diamond drill holes
(“DDH”), 15 surface DDH, 82 T28 and 41 YAK holes (T28 and YAK: percussion drilling using an air-
compressed hammer) and 7 historic resampled DDH. For a full summary of today’s results, refer to
Appendix 1.
Table 1 – Significant Intercepts from Drilling at Zgounder (core lengths)
Hole ID From To Ag Length Ag x width
(g/t) (m)
Surface DDH
ZG-20-11 23.0 24.5 252 1.5 378
ZG-22-75 109.5 114.0 108 4.5 484
ZG-25-156 253.1 255.1 167 2.0 334
Underground DDH
ZG-SF-25-319 311.0 315.5 655 4.5 2,946
ZG-SF-25-319 322.0 325.0 670 3.0 2,010
ZG-SF-25-319 362.5 365.0 442 2.5 1,106
DZG-SF-25-641 3.6 6.6 1,164 3.0 3,493
Including 4.6 5.6 3,116 1.0 3,116
DZG-SF-25-648 520 55.0 1,080 3.0 3,240
Including 54.0 55.0 2,820 1.0 2,820
DZG-SF-25-649 10.5 12.0 965 1.5 1,448
DZG-SF-25-667 49.5 52.5 984 3.0 2,951
DZG-SF-25-667 58.0 60.0 1,574 2.0 3,148
DZG-SF-25-696 64.4 66.7 1,448 2.3 3,330
DZG-SF-25-697 12.6 13.6 917 1.0 917
DZG-SF-25-705 52.4 55.4 444 3.0 1,333
Underground T28
T28-25-739 3.6 16.8 525 13.2 6,928
Including 3.6 6.0 1,833 2.4 4,398
T28-25-761 0.0 6.0 194 6.0 1,166
T28-25-764 12.0 16.8 387 4.8 1,858
T28-25-778 12.0 18.0 527 6.0 3,163
Including 12.0 14.4 1,092 2.4 2,621
T28-25-805 9.6 12.0 671 2.4 1,610
T28-25-815 15.6 21.6 704 6.0 4,226
T28-25-816 13.2 19.2 1,305 6.0 7,828
Underground YAK
YAK-25-332 8.4 10.8 2,380 2.4 5,712
YAK-25-358 33.6 34.8 917 1.2 1,100
*True widths are undetermined; all values are uncut.
Figure 1: Location of Drill Results at Zgounder
2025 Exploration Results
This year, 16,865m of drilling have been completed at Zgounder. Drilling was conducted mostly
underground in the Central, East and Western Zones as well as from surface at some near-mine
regional targets and Zgounder Far East.
Hole ZG-25-156 and ZG-25-159 (pending) has identified a new mineralized body north of the open-pit
(Figures 2). Hole ZG-25-156 returned 167 g/t Ag over 2.0m included in a much broader altered and
silver anomalous interval of 19.0m, while ZG-25-159 also shows a large 20.0m corridor of alteration
containing spots of native silver (results pending). There is significant potential for new mineralization
north of the current open pit, at depth, near the granite contact. Additional follow-up holes are planned
in the area through the remainder of 2025.
The RC drill exploration program at Zgounder Far East, which began on June 22, targeting four strong
geochemistry anomalies including Ag – copper and gold, was completed in July, with a total of
2,464m completed, results are still pending.
The Zgounder Far East block comprises Neoproterozoic geology divided into three distinct zones:
Southern Zone dominated by volcano-sedimentary rocks and pebbly sandstones alternated with
felsic volcanics. Central Zone hosts an ophiolite complex, featuring mafic and ultramafic rocks
intercalated with fine-grained sandstone units. Northern Zone is composed of intermediate to mafic
volcanic and intrusive rocks, alternating with conglomerates. Grab sample results in the Far East
block have identified some high-grade grab Ag-Cu, and Au, along with many precious metal
anomalies, indicating a strong mineralization potential within 20km from the Zgounder deposit.
Figure 2: NW-SE Section of Zgounder with Hole ZG-25-156
Quality Assurance
For core drilling, all individual samples represent approximately one meter in length of core, which is
halved. Half of the core is kept on site for reference, and its counterpart is sent for preparation and
assaying to African Laboratory for Mining and Environment (“Afrilab”) in Marrakech, Morocco or to
ALS Laboratory at the Zgounder Mine site. All samples are analyzed for silver, copper, iron, lead, and
zinc using Aqua regia and finished by atomic absorption spectroscopy (“AAS”). Samples grading
above 200 g/t Ag are reanalyzed by fire assay.
For definition drilling using RC, all individual samples represent 1.0m in length and for T28 drilling
equipment, all individual samples represent 1.2m in length. Samples are assayed at either the ALS
Mine laboratory or at Afrilab. All samples are analyzed for silver, copper, iron, lead, and zinc using
Aqua regia and finished by AAS. Samples grading above 200 g/t Ag are reanalyzed by fire assay.
Rigorous quality controls (QaQc) are applied at both locations.
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 Anti-Atlas Fault, several of which have hosted
past-producing mines and historical resources.
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 “potential”, “plan”, “additional”, “grow”, “significant” ,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 meaningfully grow near-mine resources, to follow up aggressively with additional drilling
, to execute on planned drilling in the area through the remainder of 2025, the potential to significantly
increase high-grade ounces within and near the open pit area, expanding open-pit operations in the
near term, enhancing the resource and better understanding the deposit as well as exploration results
in the open-pit and underground areas. 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 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 solicitation to buy or sell
Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise.
Appendix 1 - Mineral Intercepts from Drilling at Zgounder (core lengths)
Hole ID From To Ag
(g/t)
Length
(m)*
Ag x
width
Surface DDH
ZG-20-11 23.0 24.5 252 1.5 378
ZG-20-11 105.5 107.0 140 1.5 210
ZG-20-11 110.0 110.5 92 0.5 46
ZG-22-75 109.5 114.0 108 4.5 484
ZG-24-109 33.0 36.0 90 3.0 270
ZG-25-156 249.0 249.5 164 0.5 82
ZG-25-156 253.1 255.1 167 2.0 334
ZG-25-156 256.6 257.1 96 0.5 48
Underground DDH
ZG-SF-25-296 245.0 249.5 132 4.5 592
ZG-SF-25-296 256.5 257.5 120 1.0 120
ZG-SF-25-296 279.7 280.7 150 1.0 150
ZG-SF-25-296 286.5 292.5 116 6.0 694
ZG-SF-25-304 256.5 257.5 100 1.0 100
ZG-SF-25-307 293.5 295.0 142 1.5 213
ZG-SF-25-307 313.5 315.0 104 1.5 156
ZG-SF-25-307 316.0 317.0 100 1.0 100
ZG-SF-25-307 320.0 321.0 103 1.0 103
ZG-SF-25-307 346.5 347.5 76 1.0 76
ZG-SF-25-309 160.5 161.0 96 0.5 48
ZG-SF-25-309 163.0 164.0 92 1.0 92
ZG-SF-25-310 287.5 289.0 128 1.5 192
ZG-SF-25-310 354.0 357.5 130 3.5 454
ZG-SF-25-310 363.0 364.0 78 1.0 78
ZG-SF-25-310 372.5 373.5 80 1.0 80
ZG-SF-25-310 375.5 376.5 142 1.0 142
ZG-SF-25-312 139.5 140.0 272 0.5 136
ZG-SF-25-313 282.0 283.5 148 1.5 222
ZG-SF-25-313 312.0 314.0 134 2.0 268
ZG-SF-25-314 320.0 321.0 268 1.0 268
ZG-SF-25-315 99.5 101.9 136 2.4 327
ZG-SF-25-315 102.9 103.4 100 0.5 50
ZG-SF-25-315 107.4 109.9 152 2.5 381
ZG-SF-25-315 129.0 129.8 92 0.8 74
ZG-SF-25-315 141.0 142.5 140 1.5 210
ZG-SF-25-315 215.5 218.5 292 3.0 876
ZG-SF-25-316 108.0 109.0 140 1.0 140
ZG-SF-25-316 163.5 164.5 120 1.0 120
ZG-SF-25-319 277.5 279.0 100 1.5 150
ZG-SF-25-319 295.0 301.5 103 6.5 672
ZG-SF-25-319 304.0 305.5 228 1.5 342
ZG-SF-25-319 311.0 315.5 655 4.5 2,946
ZG-SF-25-319 322.0 325.0 670 3.0 2,010
ZG-SF-25-319 328.0 329.5 88 1.5 132
ZG-SF-25-319 342.7 344.0 180 1.3 234
ZG-SF-25-319 348.2 350.2 142 2.0 284
ZG-SF-25-319 360.4 361.4 108 1.0 108
ZG-SF-25-319 362.5 365.0 442 2.5 1,106
DZG-SF-25-415 50.5 51.5 710 1.0 710
DZG-SF-25-613 1.2 2.2 365 1.0 365
DZG-SF-25-613 61.0 62.0 91 1.0 91
DZG-SF-25-617 38.6 39.6 105 1.0 105
DZG-SF-25-618 48.0 48.5 762 0.5 381
DZG-SF-25-621 44.0 44.5 142 0.5 71
DZG-SF-25-626 24.5 25.5 82 1.0 82
DZG-SF-25-628 4.3 5.3 90 1.0 90
DZG-SF-25-630 35.0 37.9 234 2.9 679
DZG-SF-25-630 46.0 47.1 110 1.1 121
DZG-SF-25-637 5.0 6.5 106 1.5 159
DZG-SF-25-637 37.5 38.5 79 1.0 79
DZG-SF-25-637 46.0 47.1 425 1.1 468
DZG-SF-25-639 25.1 26.6 108 1.5 162
DZG-SF-25-639 32.5 33.0 109 0.5 55
DZG-SF-25-639 37.4 37.9 98 0.5 49
DZG-SF-25-640 3.0 4.5 291 1.5 437
DZG-SF-25-640 18.0 21.5 100 3.5 350
DZG-SF-25-641 3.6 6.6 1,164 3.0 3,493
Including 4.6 5.6 3,116 1.0 3,116
DZG-SF-25-641 13.4 14.4 116 1.0 116
DZG-SF-25-643 2.5 3.0 100 0.5 50
DZG-SF-25-644 39.8 40.3 94 0.5 47
DZG-SF-25-644 43.5 44.0 191 0.5 96
DZG-SF-25-646 9.5 11.0 430 1.5 645
DZG-SF-25-648 52.0 55.0 1,080 3.0 3,240
Including 54.0 55.0 2,820 1 2,820
DZG-SF-25-649 10.5 12.0 965 1.5 1,448
DZG-SF-25-649 52.5 54.0 82 1.5 123
DZG-SF-25-651 91.0 92.5 123 1.5 185
DZG-SF-25-653 55.0 56.5 151 1.5 227
DZG-SF-25-653 68.2 69.6 264 1.4 370
DZG-SF-25-662 8.5 9.0 89 0.5 45
DZG-SF-25-663 7.4 9.5 156 2.1 328
DZG-SF-25-663 13.5 15.0 85 1.5 128
DZG-SF-25-663 48.0 48.5 122 0.5 61
DZG-SF-25-664 6.5 7.5 288 1.0 288
DZG-SF-25-666 13.5 15.0 168 1.5 252
DZG-SF-25-666 39.6 40.1 305 0.5 153
DZG-SF-25-667 49.5 52.5 984 3.0 2,951
DZG-SF-25-667 58.0 60.0 1,574 2.0 3,148
DZG-SF-25-696 15.0 16.5 77 1.5 116
DZG-SF-25-696 64.4 66.7 1,448 2.3 3,330
DZG-SF-25-697 12.6 13.6 917 1.0 917
DZG-SF-25-697 42.5 43.7 80 1.2 96
DZG-SF-25-698 58.0 59.0 137 1.0 137
DZG-SF-25-701 49.6 51.0 100 1.4 140
DZG-SF-25-703 47.0 48.5 159 1.5 239
DZG-SF-25-704 49.0 50.0 138 1.0 138
DZG-SF-25-704 57.0 58.0 124 1.0 124
DZG-SF-25-705 52.4 55.4 444 3.0 1,333
DZG-SF-25-706 49.0 50.2 155 1.2 186
DZG-SF-25-707 16.2 17.7 206 1.5 309
DZG-SF-25-709 6.5 9.0 271 2.5 678
DZG-SF-25-717 40.9 41.4 115 0.5 58
DZG-SF-25-720 45.5 47.0 147 1.5 221
DZG-SF-25-722 54.0 55.0 523 1.0 523
DZG-SF-25-723 33.0 34.0 174 1.0 174
Underground T28