Aya Gold & Silver Reports High-Grade Silver Results at Depth to the West and Near Pit to the East
PRESS RELEASE
Aya Gold & Silver Reports High-Grade Silver Results
at Depth to the West and Near Pit to the East
Montreal, Quebec, March 26, 2025 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce additional high-grade silver drill results from its drill exploration
program at the Zgounder Silver Mine in the Kingdom of Morocco.
Highlights (all intersections are in core lengths)
• In the Central Zone from the 2,000m level:
• Hole DZG-SF-24-228 intercepted 3,794 grams per tonne (“g/t”) silver (“Ag”) over 10.0
meters (“m”)
• Hole DZG-SF-24-353 intercepted 572 g/t Ag over 13.0m
• In the open-pit area:
• Hole ZG-RC-24-413 intercepted 1,001 g/t Ag over 28.0m, including 2,787 g/t Ag over
7.0m
• Hole ZG-RC-24-452 intercepted 1,364 g/t Ag over 14.0m, including 2,433 g/t Ag over
6.0m
• Hole ZG-RC-24-232 intercepted 1,054 g/t Ag over 11.0m, including 2,063 g/t Ag over
5.0m
• Hole ZG-RC-24-401 intercepted 3,565 g/t Ag over 3.0m
• Hole ZG-RC-24-155 intercepted 755 g/t Ag over 13.0m
• Hole ZG-RC-24-399 intercepted 1,298 g/t Ag over 7.0m, including 2,081 g/t Ag over 4.0m
• At depth near the granite contact:
• Hole ZG-SF-24-203 intercepted 911 g/t Ag over 10.0m, including 4,855 g/t Ag over 1.5m
• Hole ZG-SF-24-209 intercepted 1,756 g/t Ag over 4.5m including 6,800 g/t Ag over 1.0m
• Hole ZG-SF-24-259 intercepted 1,082 g/t Ag over 8.5m, including 2,133 g/t Ag over 2.7m
• Hole ZG-SF-25-290 intercepted 823 g/t Ag over 10.0m and 2,055 g/t Ag over 4.5m
• 2,653m of the 2025 exploration program drilled year to date
"Today's high-grade silver drill results, particularly holes ZG-SF-24-290 and ZG-SF-24-259 near the
granite contact, confirm the presence of an additional high-grade zone to the west by the fault,
reinforcing the potential to expand Zgounder resources at depth,” said Benoit La Salle, Aya Gold &
Silver President & CEO. “In addition, high-grade intercepts near the open-pit, including ZG-RC-24-
413 and ZG-RC-24-452, confirm the continuity of high-grade mineralization to the east, supporting
our confidence in extending the open-pit operation. With two underground rigs and one RC rig
currently active, we expect a steady flow of results in the coming months to further enhance our
understanding and resource potential."
Included in this release are results from 490 holes, which include 27 surface Diamond Drill (“DDH”),
192 underground DDH, 198 Reverse Circulation (“RC”), 37 T28 and 36 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 – Significant Intercepts from Drilling at Zgounder (core lengths)
Hole ID From To Ag Length Ag x width
(g/t) (m)
Surface DDH
ZG-24-128 26.0 32.0 960 6.0 5 760
Including 30.0 32.0 2428 2.0 4 856
Underground DDH
ZG-SF-24-203 176.0 186.0 911 10.0 9 106
Including 180.5 182.0 4 855 1.5 7 282
ZG-SF-24-209 299.0 303.5 1 756 4.5 7 900
Including 300.0 301.0 6 800 1.0 6 800
ZG-SF-24-219 65.0 70.0 1 147 5.0 5 734
Including 65.0 67.5 2 174 2.5 5 434
ZG-SF-24-223 97.0 108.0 439 11.0 4 832
ZG-SF-24-259 66.0 74.5 1 082 8.5 9 197
Including 67.5 70.2 2 133 2.7 5 760
ZG-SF-25-290 275.0 285.0 823 10.0 8 228
ZG-SF-25-290 297.5 302.0 2 055 4.5 9 246
DZG-SF-24-228 6.0 16.0 3 794 10.0 37 940
DZG-SF-24-325 52.0 58.0 1 113 6.0 6 675
DZG-SF-24-353 46.5 59.5 572 13.0 7 430
Surface RC
ZG-RC-24-155 0.0 13.0 755 13.0 9 812
ZG-RC-24-169 0.0 17.0 484 17.0 8 220
ZG-RC-24-232 0.0 11.0 1 054 11.0 11 596
Including 0.0 5.0 2 063 5.0 10 316
ZG-RC-24-354 19.0 31.0 664 12.0 7 969
Including 22.0 25.0 1 793 3.0 5 380
ZG-RC-24-390 1.0 6.0 971 5.0 4 856
ZG-RC-24-399 63.0 70.0 1 298 7.0 9 085
Including 64.0 68.0 2 081 4.0 8 324
ZG-RC-24-401 17.0 20.0 3 565 3.0 10 696
ZG-RC-24-413 10.0 38.0 1 001 28.0 28 026
Including 26.0 33.0 2 787 7.0 19 512
ZG-RC-24-424 42.0 44.0 3 733 2.0 7 466
ZG-RC-24-452 39.0 53.0 1 364 14.0 19 100
Including 45.0 51.0 2 433 6.0 14 596
ZG-RC-24-471 0.0 7.0 826 7.0 5 780
ZG-RC-24-491 0.0 15.0 538 15.0 8 068
Including 4.0 10.0 949 6.0 5 692
ZG-RC-25-412 27.0 37.0 745 10.0 7 452
ZG-RC-25-449 11.0 15.0 1 347 4.0 5 388
Underground T28
T28-24-525 7.2 12.0 1 397 4.8 6 706
Underground YAK
YAK-24-143 1.2 21.6 382 20.4 7 784
YAK-24-144 13.2 25.2 520 12.0 6 238
YAK-24-152 3.6 9.6 1 532 6.0 9 192
Figure 1: Location of Drill Results at Zgounder
Quality Assurance
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. 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 using fire
assaying.
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 using fire
assaying. Rigorous quality controls (QaQc) are applied at both locations.
David Lalonde, B.Sc. P. Geo, Vice-President Exploration, is Aya Gold & Silver’s Qualified Person and
has reviewed this press release for accuracy and compliance with National Instrument 43-101.
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, subject to the announcement of September 12, 2024,
will be developed by Mx2 Mining, a new spinout gold-growth company.
Aya’s management team has been focused on maximizing 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 such as “confirm”, “potential”, “expand”, “confidence”, “extend”, “expect”,
“enhance”, 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 continuity of the
mineralization and its grade, the potential to extend strikes, expand resources at depth, expand open
pit operations, obtain results in the coming months to enhance our understanding of the resource
potential, increasing ounces within and near the open pit area, expanding open-pit operations in the
near term, enhancing the resource and better understanding the deposit as well as exploration results
in the open-pit and underground areas. 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, 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 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.
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-24-109 76.0 80.0 124 4.0 496
ZG-24-109 84.0 84.5 132 0.5 66
ZG-24-112 66.0 70.5 105 4.5 474
ZG-24-112 78.0 79.5 76 1.5 114
ZG-24-112 91.5 98.3 132 6.8 896
ZG-24-119 110.0 112.8 291 2.8 815
ZG-24-122 2.6 4.0 140 1.4 196
ZG-24-123 1.7 10.2 404 8.5 3 437
ZG-24-124 4.2 6.5 361 2.3 831
ZG-24-125 3.3 7.3 167 4.0 668
ZG-24-127 0.0 2.8 111 2.8 312
ZG-24-127 23.0 24.5 358 1.5 538
ZG-24-128 3.0 3.7 264 0.7 185
ZG-24-128 26.0 32.0 960 6.0 5 760
Including 30.0 32.0 2 428 2.0 4 856
ZG-24-128 43.5 44.0 144 0.5 72
ZG-24-132 5.3 8.0 213 2.7 575
ZG-24-138 5.5 6.0 78 0.5 39
ZG-24-138 7.0 8.0 76 1.0 76
ZG-24-138 14.0 15.0 80 1.0 80
Underground DDH
ZG-SF-24-179 53.1 55.0 1 102 1.9 2 093
ZG-SF-24-200 257.0 265.0 375 8.0 3 002
ZG-SF-24-201 139.0 140.5 164 1.5 246
ZG-SF-24-201 149.0 150.5 212 1.5 318
ZG-SF-24-201 155.5 162.5 138 7.0 964
ZG-SF-24-201 165.5 167.0 80 1.5 120
ZG-SF-24-203 150.0 151.0 88 1.0 88
ZG-SF-24-203 155.0 156.5 75 1.5 113
ZG-SF-24-203 176.0 186.0 911 10.0 9 106
Including 180.5 182.0 4 855 1.5 7 282
ZG-SF-24-203 195.5 197.0 77 1.5 116
ZG-SF-24-207 157.5 164.0 621 6.5 4 038
Including 158.5 160.0 2 036 1.5 3 054
ZG-SF-24-207 166.5 168.0 76 1.5 114
ZG-SF-24-208 144.5 145.5 156 1.0 156
ZG-SF-24-209 299.0 303.5 1 756 4.5 7 900
Including 300.0 301.0 6 800 1.0 6 800
ZG-SF-24-209 311.0 312.5 80 1.5 120
ZG-SF-24-210 141.5 144.5 98 3.0 294
ZG-SF-24-210 150.0 151.0 92 1.0 92
ZG-SF-24-213 246.5 251.0 228 4.5 1 024
ZG-SF-24-213 255.5 256.5 168 1.0 168
ZG-SF-24-215 148.5 150.0 220 1.5 330
ZG-SF-24-216 90.0 91.5 236 1.5 354
ZG-SF-24-216 100.7 101.7 79 1.0 79
ZG-SF-24-217 124.0 125.5 304 1.5 456
ZG-SF-24-217 126.0 126.5 104 0.5 52
ZG-SF-24-219 57.5 60.0 112 2.5 279
ZG-SF-24-219 65.0 70.0 1 147 5.0 5 734
Including 65.0 67.5 2 174 2.5 5 434
ZG-SF-24-219 82.0 83.0 159 1.0 159
ZG-SF-24-220 311.0 315.0 107 4.0 428
ZG-SF-24-223 84.0 86.0 92 2.0 184
ZG-SF-24-223 89.0 92.0 118 3.0 354
ZG-SF-24-223 97.0 108.0 439 11.0 4 832
Including 97.0 101.0 916 4.0 3 664
ZG-SF-24-224 129.0 130.1 100 1.1 110
ZG-SF-24-227 108.0 109.5 212 1.5 318
ZG-SF-24-228 279.5 284.0 499 4.5 2 244
ZG-SF-24-228 302.5 305.5 98 3.0 294
ZG-SF-24-228 326.0 327.0 140 1.0 140
ZG-SF-24-229 60.5 62.0 400 1.5 600
ZG-SF-24-230 243.5 244.4 77 0.9 69
ZG-SF-24-232 153.0 154.5 280 1.5 420
ZG-SF-24-232 184.5 185.6 3 176 1.1 3 494
ZG-SF-24-235 31.0 33.0 164 2.0 328
ZG-SF-24-235 64.0 69.5 536 5.5 2 948
ZG-SF-24-243 66.2 67.4 475 1.2 570
ZG-SF-24-247 45.0 47.4 625 2.4 1 501
ZG-SF-24-249 77.0 78.0 1 244 1.0 1 244
ZG-SF-24-250 50.5 52.0 80 1.5 120
ZG-SF-24-251 48.0 54.0 204 6.0 1 224
ZG-SF-24-251 62.2 63.5 104 1.3 135
ZG-SF-24-252 34.0 38.0 653 4.0 2 610
ZG-SF-24-252 44.0 45.5 228 1.5 342
ZG-SF-24-252 55.5 56.5 290 1.0 290
ZG-SF-24-252 73.0 73.5 672 0.5 336
ZG-SF-24-256 132.0 133.0 88 1.0 88
ZG-SF-24-256 134.5 136.0 2 720 1.5 4 080
ZG-SF-24-256 139.0 140.5 84 1.5 126
ZG-SF-24-259 60.5 62.0 112 1.5 168
ZG-SF-24-259 66.0 74.5 1 082 8.5 9 197
Including 67.5 70.2 2 133 2.7 5 760
ZG-SF-24-259 94.0 96.0 100 2.0 200
ZG-SF-24-261 45.5 51.5 401 6.0 2 406
ZG-SF-24-262 116.5 117.0 76 0.5 38
ZG-SF-24-263 16.0 17.5 204 1.5 306
ZG-SF-24-264 113.0 114.5 104 1.5 156
ZG-SF-24-267 39.5 41.5 82 2.0 164
ZG-SF-24-268 235.8 237.3 108 1.5 162
ZG-SF-24-269 78.5 80.0 84 1.5 126
ZG-SF-24-269 86.0 90.0 388 4.0 1 553
ZG-SF-24-269 94.0 94.5 84 0.5 42
ZG-SF-24-269 97.0 100.0 213 3.0 640
ZG-SF-24-272 56.0 57.5 104 1.5 156
ZG-SF-24-278 100.0 101.5 111 1.5 166
ZG-SF-24-281 94.5 97.4 1 033 2.9 2 994
Including 95.0 96.5 1 741 1.5 2 612
ZG-SF-24-284 85.0 85.5 160 0.5 80
ZG-SF-24-284 92.5 93.5 184 1.0 184
ZG-SF-24-284 95.0 95.5 76 0.5 38
ZG-SF-24-284 97.0 97.5 160 0.5 80
ZG-SF-24-286 117.5 121.0 151 3.5 528
ZG-SF-24-286 127.0 128.5 208 1.5 312
ZG-SF-24-286 130.0 130.5 113 0.5 57
ZG-SF-24-286 131.5 132.0 92 0.5 46
ZG-SF-25-290 213.0 214.0 192 1.0 192
ZG-SF-25-290 223.0 224.0 220 1.0 220
ZG-SF-25-290 275.0 285.0 823 10.0 8 228
Including 279.0 281.0 2 252 2.0 4 504
ZG-SF-25-290 290.5 291.5 356 1.0 356
ZG-SF-25-290 297.5 302.0 2 055 4.5 9 246
ZG-SF-25-291 70.8 71.3 230 0.5 115
DZG-SF-24-156 33.5 36.5 460 3.0 1 380
DZG-SF-24-156 55.5 56.5 244 1.0 244
DZG-SF-24-167 67.5 69.0 116 1.5 174
DZG-SF-24-190 39.0 40.5 212 1.5 318
DZG-SF-24-192 34.0 35.5 216 1.5 324
DZG-SF-24-203 22.0 23.0 88 1.0 88
DZG-SF-24-203 28.0 29.0 80 1.0 80
DZG-SF-24-205 28.0 31.0 272 3.0 816
DZG-SF-24-206 22.5 31.5 261 9.0 2 350
Including 24.5 25.5 1 292 1.0 1 292
DZG-SF-24-209 34.0 37.5 446 3.5 1 560
DZG-SF-24-220 30.5 34.5 992 4.0 3 966
Including 30.5 31.5 2 360 1.0 2 360
DZG-SF-24-220 38.5 40.0 148 1.5 222
DZG-SF-24-220 46.5 48.0 308 1.5 462
DZG-SF-24-222 28.5 30.0 268 1.5 402
DZG-SF-24-228 6.0 16.0 3 794 10.0 37 940