Aya Gold & Silver: Quarterly Silver Production up by 198% YoY to 338,624 Ounces 2021 Production Guidance Increased by 29% to 1.55 Million Ounces
PRESS RELEASE
Aya Gold & Silver: Quarterly Silver Production up by 198% YoY to 338,624
Ounces
2021 Production Guidance Increased by 29% to 1.55 Million Ounces
Montreal, Quebec, October 14, 2021 - Aya Gold & Silver Inc. (TSX: AYA) (“Aya” or the “ Corporation”)
announces silver production of 3 38,624 ounces at an average grade of 242 grams per ton ne in the
third quarter of 2021 from its Zgounder Silver Mine in the Kingdom of Morocco.
Key Highlights
• Production of 338,624 ounces (“ oz”) of silver (“Ag”) in Q3-2021, a 198% increase compared to
113,655 oz Ag in Q3-2020
• Increase in 2021 production guidance to 1.55 million oz Ag or a 29% increase over initial guidance
of 1.20 million oz Ag
• Silver recovery of 81% in Q3-2021, a 29% increase compared to 63% in Q3-2020
• Successful two -day shutdown of the flotation plant to upgrade to a higher perform ance cone
crusher
• Strong advancement of capital projects
Q3-2021 Production
Q3-2021*
Production
Q3-2020
Production
%
Increase
Tonnes processed 53,869 26,034 107%
Average grade (g/t Ag) 242 217 12%
Silver ingots produced (oz) 154,331 93,691 65%
Silver in concentrate for sale produced (oz) 184,293 19,964 823%
Total silver produced (oz) 338,624 113,655 198%
*Q3-2021 numbers are preliminary and are subject to final adjustment.
“This was a solid operational quarter where the changes implemented over the past year enabled the
mine to deliver 338,624 ounces. This represents nearly triple last year ’s Q3 production and is in line
with our turnaround plan. Despite the hot, summer months, we intensified capital project development
activities to further upgrade our mining facilities and achieve additional operational efficiencies. The
better than anticipated operational performance and execution give s us the confidence to increase
Zgounder’s production guidance by 29% to 1.55 million ounces for the year ,” said Benoit La Salle,
President & CEO.
Intensive Operational Development
Silver recovery increased to 81% relative to 63% for the same period in 2021 . The slight decrease in
Q3-2021 recovery relative to 82% in Q2 -2021 is primarily due to a lower silver recovery of 79% at the
cyanidation plant. The reduction in recovery during summer months is due to lower freshwater intake
and excess evaporation in the tailings dam. These two issues are being addressed by the
construction of a water retention basin and a tailings thickener to minimize water discharge to the
tailings dam. Recovery in the quarter still exceeded the Q3-2021 budgeted recovery.
In the quarter, plant availabilities reached 87% and 89% for the flotation and cyanidation plants,
respectively. Availability was impacted by a two-day planned shutdown of the flotation plant and by a
two-day unplanned shutdown of the cyanidation plant to work on a ball mill.
The quarter also saw extensive development of capital projects including refurbishment activities at
the cyanidation plant , replacement of the flotation plant cone crusher to a new, higher performance
model, ongoing construction of a new underground explosive depot, and start of construction of a new
mine access at the 2,075-meter level.
Increased 2021 Production Guidance
As a result of the operational outperformance to date, the Corporation is raising its 2021 production
guidance to 1.55 million oz Ag, a 2 9% increase relative to the 2021 original guidance . The 2021 cost
guidance remains unchanged.
Q3-2021 Financial and Operational Results
Aya’s Q3-2021 full financial and operational results will be released before market -open on November
15, 2021.
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 Moro ccan 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”, “expects”, “does not expect”, “scheduled”, “trends”,
“indications”, “potential”, “ estimates”, “predicts”, “anticipate”, “to establish”, “does not anticipate”,
“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 tak en, 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 for egoing.
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 expectatio ns 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 approva ls, the
accuracy of Mineral Reserve and Mineral 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 exploratio n 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 reco veries
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 20 20 Annual Information Form dated March 31, 2021, 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 these plans, estimates, projections, beliefs and opinions change. Nothing in this document should
be construed as either a n offer to sell or a solicitation to buy or sell Aya securities. All references to
Aya include its subsidiaries unless the context requires otherwise.