Aya Gold & Silver Reports Final Drawdown on Zgounder Mine Expansion Loan
PRESS RELEASE
.
Aya Gold & Silver Reports Final Drawdown
on Zgounder Mine Expansion Loan
Montreal, Quebec, June 24, 2024 - Aya Gold & Silver Inc (TSX: AYA ; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce that it has completed its fourth and final drawdown under the
previously announced US$100 million project financing facility (the “Facility”) for the expansion of the
Zgounder Silver Mine in the Kingdom of Morocco. The Facility is jointly provided by the European Bank
for Reconstruction and Development (“EBRD”) and by the Climate Investment Funds through its Clean
Technology Fund (“CTF”). The fourth drawdown is in the amount of US$15 million and brings the total
drawn to date equal to the total of the available Facility at US$100 million
The final drawdown followed an April technical site visit by the lenders and their technical advisor .
Proceeds of this drawdown will be used to further advance the Zgounder Mine expansion project.
“This final drawdown marks another significant milestone in our team's systematic derisking of the
expansion over the past year. As we finalize Zgounder’s construction work and implement our
commissioning process, we are fully funded and on track to achieve commercial production in Q4 -
2024,” said Benoit La Salle, President and CEO.
To see Zgounder’s progress, view its May 2024 construction video here.
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, 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 and 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 Boumadine. 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, gold, zinc and lead, 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.