Aya Gold & Silver Secures 6 New Permits and Provides Exploration Update at Boumadine
PRESS RELEASE
Aya Gold & Silver Secures 6 New Permits and Provides Exploration Update at
Boumadine
Montreal, Quebec, March 19, 2024 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the
“Corporation”) is pleased to announce that it has completed 50% of its airborne MobileMT geophysical
survey and secured the right to 6 exploration permits at its Boumadine Project in the Kingdom of
Morocco. Its Boumadine exploration portfolio now totals up to 141.4 square kilometers (“km2”).
Highlights from Boumadine
• Acquired 6 exploration permits totaling 58 km² in the area of Boumadine (Figure 1)
• Completed 50% of a 6,515 linear km airborne MobileMT geophysical survey
• Drilled 11,130 meters (“m”) of DDH YTD as part of an aggressive 120,000m exploration program
(Figure 2)
• Received preliminary regional hyperspectral data, with the structural and mineral interpretation
well underway
“We are excited to consolidate further and increase our footprint by 70%, as our largest annual drill
program ever at Boumadine continues to exceed expectations and indicate significant potential,” said
Benoit La Salle, President & CEO. “Our confidence continues to grow with additional drill results, and
we expect our g eophysics, hyperspectral and ground mapping to generate valuable data to define
quality drill targets on the permits.”
Boumadine Project
With the addition of the 6 new exploration permits, Boumadine now covers 141.4 km2. In the past year,
the Corporation has more than quadrupled its surface footprint from its original mining permit in what
it believes to be one of the most prospective and underexplored areas of Morocco. The Corporation will
continue to proactively add exploration permits as it develops a greater understanding of the regional
geology, structure, and mineralization models.
Figure 1 – Location of New Boumadine Permits
Currently, 4 DDH rigs are turning at Boumadine, with 3 additional surface rigs expected in the coming
weeks as part of the 120,000m drill exploration program (Figure 1). The Corporation will test targets
generated by 2023 and 2022 exploration work including drilling, the hyperspectral survey, detail airborne
geophysics (magnetics and electromagnetics), detail mapping and prospecting. The 2024 program will
test strike extensions of the Boumadine Main Trend ; N030 and N70 structures ; extensions of the Tizi
Zone; and other exploration targets based on the mapping and prospecting data (Figure 1).
A surface mapping and prospecting campaign on the permits acquired in 2023 is well underway. In
addition to a 90-grab sampling program, an ongoing mapping campaign has allowed identification of
several new mineralized structures that will warrant further work (Figure 3).
Figure 2 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2024
Drilling Program
Figure 3– Surface Plan of the Property with Simplified Geology and 2024 Surface Samples
Technical Information
Aya has implemented a quality control program to comply with best practices in sampling and analysis
of drill core and surface sampling. Samples were delivered in sealed bags to Afrilab mechanical
preparation unit at Boumadine, and prepared pulps transport ed for analysis at Afrilab laboratory in
Marrakech. Standards of different grades and blanks were inserted every 25 samples in addition to the
standards, blanks and pulp duplicate inserted by Afrilab.
Qualified Person
The scientific and technical information contained in this press release have been reviewed by David
Lalonde, B. Sc, Head of Exploration, Qualified Person, 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 Moro ccan mining assets are complemented by its
Tijirit Gold Project in Mauritania, which is being advanced to feasibility.
Aya’s management team maximizes 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 “secure”, “consolidate”, “exceed”, “indicate”, “continue”, “grow”,
“expect”, “generate”, “believes”, “prospectives”, “greater”, “confirm”, “remains”, “confidence”, “potential”,
“complete”, “extend”, , 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 u sed
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 and the advancement of and success of the exploration program
at Boumadine , the capacity for the Company to obtain clean, unincumbered free and clear title to
permits, the capacity of the Company to obtain all regulatory permits and permissions, 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 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, t he ability to obtain any requisite
governmental approvals, 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 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 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 2022 Annual Information Form dated March 31, 2023, and in other filings of Aya with
securities and regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. 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 it s subsidiaries
unless the context requires otherwise.