Aya Gold & Silver Increases its Collaboration with ONHYM and Consolidates its Ownership Interest in Zgounder to 100%
PRESS RELEASE
Aya Gold & Silver Increases its Collaboration with ONHYM and Consolidates
its Ownership Interest in Zgounder to 100%
Montreal, Quebec, September 12, 2022 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to report that it has, subject to customary closing conditions and regulatory
approvals expected before the end of 2022 , reached an agreement with the National Office of
Hydrocarbons and Mines (“ONHYM”) to acquire the ONHYM’s 15% interest in the Zgounder project and
five adjacent permits to the Zgounder Silver Mine for a total consideration of 67 million dirhams
(approximately US$6.5 million). ONHYM will maintain its 3% royalty on the Zgounder property, and a 3%
royalty is granted on production coming from the new permits. This transaction deepens Aya’s
collaboration with ONHYM, extending to other strategic initiatives including the review and evaluation of
additional exploration ground in Morocco.
“This deal is very accretive for all stakeholders and speaks to our strong relationship with ONHYM and
the government of Morocco,” said Benoit La Salle, President & CEO. “We have acquired 100% ownership
of the Zgounder project and acquired strategic, adjoining permits, consolidating our position around
Zgounder. We look forward to our continued strong partnership with ONHYM as we collaborate and
generate value for all stakeholders on mining opportunities in the Kingdom of Morocco.”
Figure 1 – Newly Acquired Permits Adjacent to Zgounder Silver Mine
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 “plans”, “look forward”, “generate”, “believe”, “intend”, “ability to” 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 Zgounder and
the conversion of Inferred Mineral Resources into Measured and Indicated Mineral Resources, future
opportunities for enhancing development 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 in formation 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,
obtaining regulatory permits for on site work, importing goods and machinery and employment permits,
the accuracy of Mineral R eserve 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 a nd 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 Informa tion Form dated June 16, 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 th ese
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.