Aya Gold & Silver Publishes 2022 Sustainability Report
PRESS RELEASE
Aya Gold & Silver Publishes 2022 Sustainability Report
Montreal, Quebec, July 11, 2023 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya”
or the “ Corporation”) is pleased to announce it has released its 2022 Sustainability Report.
This marks the third time that the Corporation has reported on its corporate sustainability
initiatives at its Zgounder Silver Mine, which is the principal focus of its activities in the
Kingdom of Morocco.
The 2022 Sustainability Re port (“The Report”), which represents the second prong in the
Corporation’s corporate responsibility reporting, sets out our 2022 performance and strategy
in Environmental, Social and Governance (“ESG”) matters and shares the story and journey
behind the data. The Report aims to provide an update on the material issues outlined in the
2020 Sustainability Report and is generally aligned with the Global Reporting Initiative (“GRI”).
Through its increased accessibility and visibility, The Report facilitates stakeholder
communication and complements the Corporation’s online 2022 ES G Report. The 2022 ESG
Report, which is Aya’s primary corporate responsibility report, has been prepared using
ONYEN’s innovative ESG software platform and is compliant with all major standards
(including GRI, Sustainability Accounting Standards Board and the Task Force for Climate -
Related Financial Disclosure “TCFD”).
2022 Sustainability Highlights
• ESG-backed construction loan
• 99% national and 45% local workforce
• 75% national and 13% local procurement1
• 61% of total water use recycled
• TCFD action plan approved for execution
• Say-on-pay advisory and clawback policy implemented
• EBRD-approved Environmental and Social Action Plan
• 25% female board representation
"The Report details how we are successfully integrating ESG across our operations," noted
Benoit La Salle , President & CEO. "Over the last three years at Zgounder, we have ingrained
our sustainability framework within each of its departments and developed an ESG model that
addresses many of our sustainability shortcomings and gaps. Our Moroccan advantage has
1 Local procurement is defined as within 70km of the Zgounder Silver Mine.
enabled us to sign an interconnection agreement with ONEE for 100% of our energy needs ;
achieve 75% national procurement for our build-out; and employ a 99% Moroccan workforce.
In 2022, we embarked on the next step in our journey – aligning our strategy with
internationally recognized frameworks, including the TCFD.
2022 was a remarkable year, both operationally and in the acceleration of our ESG turnaround.
I am proud to highlight the significant progress achieved in solidifying our management
processes, particularly in the area of health and safety. Supported by a reinforced department,
we have fostered a robust health and safety culture built on prevention, training , and
collaboration. I am also thrilled with the giant steps made in 2022 towards managing our
climate change risks and creating opportunities from our EBRD loan and action plan to reduce
our greenhouse gas emissions and enhance our ESG performance . In particular, w e have
implemented KPIs for both management and employee s to better align with the TCFD
recommendations and create accountability. We look forward to publishing our stand-alone
TCFD report later this year, which will represent an important first step in evaluating and
communicating the climate risks we face in addition to our efforts to accelerate climate action
across Aya.”
The Corporation’s sustainability journey began in 2020 with the creation of a new ESG-focused
board committee that provides oversight for its corporate responsibility strategy, and which
supported a new Environmental and Social Impact Assessment at Zgounder. In parallel, t he
Corporation began implementing its Environmental Social Management System (“ESMS”),
which is based on ISO 14001 and 45001 and best practice from the International Finance
Corporation Performance Standards and the European Bank for Reconstruction and
Development (“EBRD”). To formalize its dedication to creating a strong sustainability
framework, the Corporation released an inaugural GRI -compliant report on its ESG activities
for the 2020 year that presented the material issues for Zgounder after one ye ar of takeover
by new management. In 2021, the Corporation continued implementing its ESMS plan with a
heavy focus on health and safety and worked with local authorities in developing a community
investment program aligned with host region priorities.
In 2022, the Corporation’s journey gathered momentum following engagement with the EBRD
regarding the financing of the Zgounder Mine expansion. Signing of the loan was contingent
on carrying out a project -based environmental and social review and resulted in a binding
action plan. Under the novel ESG-linked construction loan, the Corporation will publish a TCFD-
compliant Climate Report in 2023.
Aya’s 2022 Sustainability Report in addition to the Corporation’s fully compliant 2022 ESG
Report can be viewed at https://ayagoldsilver.com/reports-disclosures/. To learn more about
Aya’s approach and commitment to ESG, visit https://ayagoldsilver.com.
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 maximi zes 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 “ aims”, “extend”,
“identify”, “confirm”, “plan”, “belief”, “potential”, “confident”, “coul d”, “opportunity”, “support”,
“suggest”, “expected”, “probably”, 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 id entify 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 Infe rred 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
information currently available to management and based upon what management believes
to be reasonable assumptions, Aya cannot be certain that actual results will be consis tent
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 bel ieve 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, the accuracy of Mineral Reserve and Miner al Resource Estimates
(including, but not limited to, ore tonnage and ore grade estimates), silver 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 charac teristics) 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 20 22 Annual
Information Form dated March 31, 202 3, and in other fi lings of Aya with securities and
regulatory authorities which are available on SEDAR at www.sedar.com. Furthermore, Aya’s
corporate update of May 28, 2020 regarding the materiality of its assets as well as to studies
regarding non -material assets remains applicable as at the date hereof. 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.