Maya GOLD & Silver: Corporate Update
PRESS RELEASE
MAYA GOLD & SILVER: CORPORATE UPDATE
BLAINVILLE, QUÉBEC‐‐(Marketwired – March 8, 2017) ‐ Maya Gold & Silver Inc. ("Maya" or the
"Corporation") (TSX VENTURE: MYA) announces the resignation of Mr. Guy Goulet, Geological
Engineer, Chief Executive Officer of the Corporation, who has decided to pursue other activities in the
resource sector.
The board acknowledges the resignation, effective today and thanks Mr. Goulet for his 8 years of
dedicated service to the Corporation, wishing him well in his future endeavours.
In the interim, the Board asked Mr. R Martin Wong CPA, CA to assume the position of interim CEO, until
a successor to Mr. Goulet is appointed. Mr. Wong, has been a Director of the Corporation since 2008,
and a member of various Board committees over the period. Mr. Wong is an experienced financier and
will ensure a continuity of all administrative, financial and regulatory activities of the Corporation. In
addition, he will work closely with the Corporation President, Mr. Noureddine Mokaddem.
Noureddine Mokaddem will continue to lead the Corporation operations and the development strategy
of the on‐going projects in the Zgounder and Boumadine mines.
The board also welcomes Mr. Robert Taub as a Non‐Executive Board Member to its Board of Directors.
Mr. Taub holds a BA in Languages from the University of Antwerp (Belgium) and an MBA from INSEAD
(Fontainebleau, France). He is an entrepreneur in the Life Science field and investor in several
pharmaceutical and medical device companies. Mr. Taub was the CEO of a NASDAQ listed company which
he had founded and is currently an investor and Chairman of another NASDAQ company. "We are
delighted to welcome Mr. Taub to our board, as his extensive entrepreneurial experience will greatly
benefit the Corporation in shaping our future strategy and vision," said Réjean Gosselin, Chairman of the
Board.
In addition to the above developments, the Board of Directors approved to issue a $1,500,000 private
placement of units of the Corporation, to which certain shareholders and directors have indicated support
and intention to participate.
It is anticipated that related parties will participate to the Private Placement and will subscribe more than
50% of the securities offered. Any such participation would constitute a "related party transaction" as
defined under Regulation 61‐101 ‐ Protection of Minority Security Holders in Special
Transactions ("Regulation 61‐101"). However, such participation is exempt from the valuation and
minority shareholder approval requirements of Regulation 61‐101 based on the fact that neither the fair
market value of the Private Placement, nor the consideration paid by such persons, exceeds 25% of the
Corporation's market capitalization. The Corporation did not file a material change report at least 21 days
prior to the completion of the Private Placement as such participation was not determined at that moment
ABOUT MAYA
Maya Gold & Silver Inc. is a Canadian listed mining corporation focused on the exploration and
development of gold and silver deposits in Morocco. Maya is initiating mining and milling operations at
its Zgounder Mine. Zgounder Millenium Silver Mining ("ZMSM"), the 85% owned joint venture with
l'Office National des Hydrocarbures et des Mines ("ONHYM") of the Kingdom of Morocco (15%)
For further information on Maya, visit www.mayagoldsilver.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward‐looking statements
This news release contains statements about our future business and planned activities. These are
"forward‐looking" because we have used what we know and expect today to make a statement about the
future. Forward‐looking statements including but are not limited to comments regarding the timing and
content of upcoming work and analyses. Forward‐looking statements usually include words such as may,
intend, plan, expect, anticipate, and believe or other similar words. We believe the expectations reflected
in these forward‐looking statements are reasonable. However, actual events and results could be
substantially different because of the risks and uncertainties associated with our business or events that
happen after the date of this news release. You should not place undue reliance on forward‐looking
statements. As a general policy, we do not update forward‐looking statements except as required by
securities laws and regulations.
CONTACT INFORMATION
Maya Gold & Silver Inc.:
R Martin Wong CPA CA
Interim Chief Executive Officer
450‐435‐0700
Maya Gold & Silver Inc.:
Noureddine Mokaddem
President
450‐435‐0700
Maya Gold & Silver Inc.:
Nathalie Dion
Investor Relations
450‐435‐0700 ext. 202