Aya Gold & Silver Reports High-Grade Exploration Drill Results Near Pit Depth at Zgounder
Aya Gold & Silver Reports High-Grade Exploration
Drill Results Near Pit Depth at Zgounder
Montreal, Quebec, June 2, 2026 - Aya Gold & Silver Inc. (TSX: AYA; NASDAQ: AYA) (“Aya” or the “Corporation”) is
pleased to announce high-grade silver drill results from its at-depth drill exploration program at the Zgounder Silver
Mine (“Zgounder”) in the Kingdom of Morocco.
Highlights (all intersections are in core lengths)
• Intersections in the Open-Pit Area:
• Hole ZG-RC-26-946 intercepted 1,867 grams per tonne (“g/t”) silver (“Ag”) over 6.0 metres (“m”), including
5,100 g/t Ag over 2.0m
• Hole ZG-RC-26-942 intercepted 739 g/t Ag over 10.0m, including 1,674 g/t Ag over 4.0m
• Hole ZG-RC-26-799 intercepted 1,160 g/t Ag over 6.0m, including 1,778 g/t Ag over 3.0m
• Hole ZG-RC-26-943 intercepted 886 g/t Ag over 5.0m
• Intersections Near the Western Fault contact:
• Hole YAK-26-502 intercepted 795 g/t Ag over 4.8m
• Hole T28-26-1152 intercepted 445 g/t Ag over 7.2m
• Intersections in the Central Area:
• Hole DZG-SF-26-740 intercepted 1,330 g/t Ag over 4.6m, including 3,680 g/t Ag over 1.2m
• Hole DZG-SF-26-741 intercepted 1,087 g/t Ag over 5.5m, including 3,347 g/t Ag over 1.5m
• Hole T28-26-1248 intercepted 2,176 g/t Ag over 8.4m, including 4,298 g/t Ag over 3.6m
• Hole T28-26-1177 intercepted 1,464 g/t Ag over 4.8m, including 5,480 g/t Ag over 1.2m
• 9,250m or 30.8% of the 2026 exploration program has been drilled year to date.
"Today’s high-grade results continue to confirm the strong continuity of silver mineralization both
around the open pit and within the central zone,” said Benoit La Salle, President & CEO. “Importantly, new
intersections near the Western Fault continue to support the significant exploration potential to the
west, where development of the exploration drift at the 1825-metre level is advancing ahead of planned
PRESS RELEASE
drilling west of the fault in the second half of the year. In parallel, drilling along the granite contact
continues to demonstrate encouraging high-grade continuity at depth."
This release contains results from 116 holes, which include 5 surface diamond drill holes (“DDH”), 28
underground DDH, 23 reverse circulation drill hole (“RC”), 33 T28 and 27 YAK holes (T28 and YAK:
percussion drilling using an air-compressed hammer). For a full summary of today’s results, refer to
Appendix 1.
Table 1 – Best Intercepts at Zgounder (core lengths)
Hole ID From To Ag Length* Ag x width
(g/t) (m)
Surface DDH
ZG-25-175 127.5 129 2,081 1.5 3,122
Underground DDH
DZG-SF-26-740 22.4 27 1,330 4.6 6,118
Including 24.8 26 3,680 1.2 4,416
DZG-SF-26-741 22.5 28 1,087 5.5 5,976
Including 25.5 27 3,347 1.5 5,020
DZG-SF-26-830 14.8 19 879 4.2 3,692
DZG-SF-26-877 33.7 38.5 505 4.8 2,422
DZG-SF-26-877 44.9 51 646 6.1 3,941
Surface RC
ZG-RC-26-799 6 12 1,160 6 6,962
Including 8 11 1,778 3 5,335
ZG-RC-26-942 129 139 739 10 7,388
Including 133 137 1,674 4 6,697
ZG-RC-26-942 148 150 1,409 2 2,818
ZG-RC-26-943 118 123 886 5 4,429
ZG-RC-26-946 96 102 1,867 6 11,200
Including 96 98 5,100 2 10,200
ZG-RC-26-955 94 103 288 9 2,593
ZG-RC-26-959 51 59 337 8 2,696
Underground T28
T28-26-1152 0 7.2 445 7.2 3,206
T28-26-1177 20.4 25.2 1,464 4.8 7,025
Including 21.6 22.8 5,480 1.2 6,576
T28-26-1181 14.4 20.4 500 6 2,998
Including 14.4 15.6 2,030 1.2 2,436
T28-26-1248 8.4 16.8 2,176 8.4 18,276
Including 8.4 12 4,298 3.6 15,474
T28-26-1249 16.8 26.4 542 9.6 5,201
T28-26-1250 0 4.8 519 4.8 2,491
Underground YAK
YAK-26-447 3.6 8.4 1,741 4.8 8,358
Including 3.6 6 3,365 2.4 8,076
YAK-26-454 40.8 45.6 835 4.8 4,006
YAK-26-463 0 4.8 939 4.8 4,508
YAK-26-502 4.8 9.6 795 4.8 3,815
True width remains undetermined; all values are uncut.
Figure 1: Location of Drill Results at Zgounder
Technical Information
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.
Qualified Person
The scientific and technical information contained in this press release have been reviewed by David
Lalonde, B. Sc, P. Geo, Vice-President, Exploration, Qualified Person, for accuracy and compliance with
National Instrument 43-101.
About Aya Gold & Silver Inc.
Aya Gold & Silver is a Canadian precious metals mining company anchored in Morocco and active across
the full mining value chain. The Corporation has established an exploration track record through a
systematic, technology-led, data-driven approach and is focused on expanding its resource base and land
package along the Anti-Atlas fault — one of Africa’s most geologically rich, underexplored and mining-
friendly regions.
Aya operates Zgounder, a rare, silver-only mine, producing silver doré from its new processing facility.
Aya’s growth pipeline includes the Boumadine polymetallic project, where feasibility study work is
underway. The project hosts a sizable mineralized footprint, and potential for further discovery.
Led by a proven team of mining professionals, Aya is guided by a vision of responsible mining and is
committed to delivering sustainable value for shareholders, employees and host communities.
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 This press release contains “forward-looking statements” or “forward looking information”
within the meaning of applicable securities laws and other statements that are not historical facts.
Forward-looking statements are included to provide information about management’s current
expectations, estimates and projections regarding Aya’s future growth and business prospects (including
the timing and development of deposits and the success of exploration activities) and other opportunities
as of the date of this press release.
All statements, other than statements of historical fact included in this press release, regarding the
Corporation’s strategy, future operations, technical assessments, prospects, plans and objectives of
management are forward-looking statements that involve risks and uncertainties. Wherever possible,
words such as “continue”, “confirm”, “potential”, 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. Forward-looking statements in
this press release include, but are not limited to, statements with respect to: the Corporation's mining
assets development and expansion potential and objectives.
Forward-looking information is based upon certain assumptions and other important factors that, if
untrue, could cause the actual results, performance or achievements of the Corporation to be materially
different from future results, performance or achievements expressed or implied by such information or
statements. There can be no assurance that such information or statements will prove to be accurate.
Key assumptions upon which the Corporation’s forward-looking information is based include without
limitation, assumptions regarding development and exploration activities; the timing, extent, duration and
economic viability of such operations, including any mineral resources or reserves identified thereby; the
accuracy and reliability of estimates, projections, forecasts, studies and assessments; the timing for
completion of the updated Boumadine PEA and feasibility study; the Corporation’s ability to meet or
achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for
outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the
ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms
when required; the current and future social, economic and political conditions; and other assumptions
and factors generally associated with the mining industry.
Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may
have been used. Forward-looking statements are also subject to risks and uncertainties facing the
Corporation’s business, any of which could have a material adverse effect on the Corporation’s business,
financial condition, results of operations and growth prospects. Some of the risks the Corporation faces
and the uncertainties that could cause actual results to differ materially from those expressed in the
forward-looking statements include, among others: Aya’s ability to execute plans relating to its Zgounder
Project and Boumadine Project, including the timing thereof; risks and hazards associated with the
business of mineral exploration, development, and mining, including environmental hazards, potential
unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural
formations, pressures, cave-ins, and flooding; risks related to Aya’s operations in Morocco; the
speculative nature of mineral exploration and development; diminishing quantities or grades of mineral
reserves as properties are mined; the inability to determine, with certainty, the production of metals and
cost estimates, or the prices to be received before mineral reserves or mineral resources are actually
mined; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water
supplies); fluctuations in forward markets for silver and other commodities (such as natural gas, fuel, oil
and electricity); availability of gas, fuel, and oil; restrictions on mining in the jurisdictions in which Aya
operates; change of laws and regulations governing our operation, exploration, and development
activities, including international laws and legal norms, such as those relating to Indigenous peoples and
human rights; the Corporation’s ability to mitigate the risks pertaining to fund repatriation; expectations
with respect to any future pandemics on our operations, and assumptions related thereto; Aya’s ability to
attract and retain qualified employees and contractors; Aya’s ability to obtain and renew necessary
permits and licenses; inherent risks associated with tailings facilities and heap leach operations, including
failure or leakages; Aya’s growth strategy; Aya’s ability to obtain and maintain insurance; occupational
health and safety risks; adverse publicity risks; third party risks; disruptions to Aya’s business operations;
Aya’s reliance on technology and information systems; litigation risks; interest and exchange rates risks;
tax risks; unforeseen expenses; public health crises; climate change; weather disruptions; general
economic conditions; commodity prices and exchange rate risks; gold and silver demand; volatility of
share price; public company obligations; competition risk; policies and legislation; force majeure; climate
risks; the effectiveness of our internal control over financial reporting; risks related to competition in the
mining industry; changes in technology; asset impairment (or reversal) potential, being consistent with the
Corporation’s current expectations; the inherent risks involved in exploration and development of mineral
properties; and other risks described in the Corporation’s documents filed with Canadian and U.S.
securities regulatory authorities.
In addition, readers are directed to carefully review the detailed risk discussion in the Corporation’s
Annual Information Form and Management’s Discussion & Analysis for the year ended December 31,
2025, filed on SEDAR+ and on EDGAR, which discussions are incorporated by reference in this press
release, for a fuller understanding of the risks and uncertainties that affect the Corporation’s business and
operations.
Although the Corporation believes its expectations are based upon reasonable assumptions and has
attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. As such, these risks are not exhaustive; however,
they should be considered carefully. If any of these risks or uncertainties materialize, actual results may
vary materially from those anticipated in the forward-looking statements found herein. Due to the risks,
uncertainties, and assumptions inherent in forward-looking statements, readers should not place undue
reliance on forward-looking statements.
Forward-looking statements contained herein are presented for the purpose of assisting investors in
understanding the Corporation’s business plans, financial performance and condition and may not be
appropriate for other purposes.
The forward-looking statements contained herein are made only as of the date hereof. The Corporation
disclaims any intention or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except to the extent required by applicable law. The
Corporation qualifies all of its forward-looking statements by these cautionary statements.
Appendix 1 - Mineral Intercepts from Drilling at Zgounder (core lengths)
Hole ID From To Ag Length* Ag x width
(g/t) (m)
Surface DDH
ZG-25-175 127.5 129.0 2,081 1.5 3,122
ZG-26-194 18.1 20.9 268 2.8 750
ZG-26-196 161.0 162.5 108 1.5 162
ZG-26-198 241.0 243.0 116 2.0 231
ZG-GT-21-04 57.5 62.0 111 4.5 501
ZG-GT-21-04 246.0 247.5 277 1.5 416
Underground DDH
ZG-SF-25-307 346.5 347.5 76 1.0 76
ZG-SF-25-307 350.5 357.0 141 6.5 918
ZG-SF-25-346 202.5 204.0 80 1.5 120
ZG-SF-25-346 207.0 208.5 1,304 1.5 1,956
ZG-SF-25-346 322.7 324.2 183 1.5 274
ZG-SF-26-352 97.0 98.0 162 1.0 162
ZG-SF-26-352 149.0 151.0 113 2.0 225
ZG-SF-26-355 143.5 145.0 98 1.5 147
DZG-SF-26-740 22.4 27.0 1,330 4.6 6,118
Including 24.8 26.0 3,680 1.2 4,416
DZG-SF-26-741 22.5 28.0 1,087 5.5 5,976
Including 25.5 27.0 3,347 1.5 5,020
DZG-SF-26-741 87.0 87.9 124 0.9 112
DZG-SF-26-830 14.8 19.0 879 4.2 3,692
DZG-SF-26-853 31.0 31.5 88 0.5 44
DZG-SF-26-855 1.5 2.5 176 1.0 176
DZG-SF-26-857 40.0 41.0 124 1.0 124
DZG-SF-26-857 49.0 50.0 108 1.0 108
DZG-SF-26-861 97.5 99.0 116 1.5 174
DZG-SF-26-862 73.6 75.1 204 1.5 306
DZG-SF-26-862A 126.0 127.0 152 1.0 152
DZG-SF-26-864 9.0 12.0 657 3.0 1,972
DZG-SF-26-864 16.5 18.0 148 1.5 222
DZG-SF-26-865 15.3 18.0 838 2.7 2,263
DZG-SF-26-865 31.0 32.5 360 1.5 540
DZG-SF-26-866 36.5 37.5 96 1.0 96
DZG-SF-26-866 47.8 48.8 176 1.0 176
DZG-SF-26-867 58.5 59.5 2,286 1.0 2,286
DZG-SF-26-868 39.7 41.4 842 1.7 1,431
DZG-SF-26-868 52.0 53.5 80 1.5 120
DZG-SF-26-868 57.7 59.2 681 1.5 1,022
DZG-SF-26-869 9.0 9.5 168 0.5 84
DZG-SF-26-874 66.0 67.0 200 1.0 200
DZG-SF-26-875 73.5 75.0 200 1.5 300
DZG-SF-26-876 27.0 28.5 196 1.5 294
DZG-SF-26-877 33.7 38.5 505 4.8 2,422
Including 33.7 34.7 2,136 1.0 2,136
DZG-SF-26-877 44.9 51.0 646 6.1 3,941
Including 44.9 45.9 2,196 1.0 2,196
DZG-SF-26-880 51.8 53.0 504 1.2 605
DZG-SF-26-881 44.0 45.0 148 1.0 148
DZG-SF-26-896 90.3 90.8 170 0.5 85
DZG-SF-26-896 106.5 109.5 163 3.0 489
DZG-SF-26-905 57.0 59.5 618 2.5 1,544
DZG-SF-26-915 61.0 64.0 281 3.0 842
Surface RC
ZG-RC-26-780 37.0 38.0 137 1.0 137
ZG-RC-26-799 6.0 12.0 1,160 6.0 6,962
Including 8.0 11.0 1,778 3.0 5,335
ZG-RC-26-868 18.0 19.0 98 1.0 98
ZG-RC-26-868 22.0 27.0 131 5.0 656
ZG-RC-26-868 36.0 37.0 193 1.0 193
ZG-RC-26-868 52.0 53.0 102 1.0 102
ZG-RC-26-904 22.0 24.0 167 2.0 334
ZG-RC-26-904 33.0 34.0 131 1.0 131
ZG-RC-26-904 42.0 43.0 77 1.0 77
ZG-RC-26-904 75.0 76.0 152 1.0 152
ZG-RC-26-904 87.0 88.0 93 1.0 93
ZG-RC-26-906 13.0 14.0 86 1.0 86
ZG-RC-26-906 26.0 27.0 82 1.0 82
ZG-RC-26-922 17.0 18.0 255 1.0 255
ZG-RC-26-925 16.0 18.0 142 2.0 283
ZG-RC-26-934A 73.0 74.0 79 1.0 79
ZG-RC-26-939 101.0 102.0 194 1.0 194
ZG-RC-26-940 123.0 129.0 139 6.0 833
ZG-RC-26-941 130.0 132.0 224 2.0 447
ZG-RC-26-942 129.0 139.0 739 10.0 7,388
Including 133.0 137.0 1,674 4.0 6,697
ZG-RC-26-942 148.0 150.0 1,409 2.0 2,818
ZG-RC-26-943 118.0 123.0 886 5.0 4,429
ZG-RC-26-943 133.0 134.0 1,100 1.0 1,100
ZG-RC-26-944 62.0 63.0 82 1.0 82
ZG-RC-26-944 121.0 122.0 806 1.0 806
ZG-RC-26-944 126.0 128.0 148 2.0 295
ZG-RC-26-945 87.0 90.0 243 3.0 729
ZG-RC-26-946 96.0 102.0 1,867 6.0 11,200
Including 96.0 98.0 5,100 2.0 10,200
ZG-RC-26-946 111.0 120.0 256 9.0 2,306