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Maya GOLD & Silver Annual General Meeting and Corporate Update

Shareholder Meetings

Maya Gold & Silver Inc.

1320 Graham, Suite 132

Ville Mont-Royal, Québec

H3P 3C8

PRESS RELEASE FOR IMMEDIATE RELEASE

MAYA GOLD & SILVER ANNUAL GENERAL MEETING AND

CORPORATE UPDATE

Montreal, Québec – May 28 th , 2020 – Maya Gold & Silver Inc. (“Maya” or the “Co mpany”) (TSX:

MYA) is pleased to announce that for the current year, it has changed its format for the upcoming annual

meeting of shareholders ("AGM") to be held on Frida y, June 19, 2020 at 10:00 a.m. (Eastern Time) to

an online virtual only meeting. Under this format, shareholders may not physically attend the meeting

in person but are welcome to attend and participate in the meeting online via live audio webcast.

This change of format is in response to the current COVID-19 pandemic and more particularly in regards

to the restrictions on mass gatherings implemented by the Government of Quebec. The decision to

move to a virtual-only meeting reflects our commitm ent to protecting the health and safety of our

shareholders, directors, employees, and other stakeholders and our desire to seek the largest possible

participation by our international shareholder base . In fact, the Company strongly urges shareholders

to register and vote in advance of the meeting.

General Instructions of the meeting

The timing and process for voting by proxy remains as described in the proxy materials, and

shareholders may still vote in advance of the meeti ng by submitting their proxy form or voting

information form as described in the proxy materials.

The virtual meeting will be conducted via live audi o webcast. Registered shareholders and duly

appointed proxyholders will be permitted to attend the virtual meeting, ask questions and vote, all in

real time, provided they are connected to the inter net and have logged in at

https://web.lumiagm.com/237917800 .

Participants must be connected to the internet at a ll times to be able to vote. The Company invites

Shareholders to read the “Virtual AGM User Guide” attached to the Management Proxy Circular and to

review the meeting materials before voting. The Management Proxy Circular and the Virtual AGM User

Guide are available at www.sedar.com and on the Company’s website at the following link :

https://mayagoldsilver.com/financials/

Attending the meeting

Holders of shares on the record date, being May 18, 2020, may exercise their rights by attending the

virtual Meeting or by completing a Proxy Form.

Registered shareholders who have not appointed a pr oxyholder and duly appointed proxyholders of

registered and non-registered (beneficial) sharehol ders will be able to attend the meeting, ask

questions, and vote securely in real time, provided they follow the instructions below and are connected

to the internet. Non-registered shareholders who ha ve not duly appointed themselves as proxyholder

will be able to attend the meeting as guests, but will not be able to ask questions or vote at the meeting.

This is because the Company and its transfer agent do not have a record of non-registered shareholders

and will have no knowledge of non-registered shareh oldings or entitlements to vote unless non-

registered shareholders appoint themselves as proxyholder.

REGISTERED SHAREHOLDERS

If you are a registered shareholder, you will have received a form of proxy (“Proxy Form”) from the

Company’s transfer agent, Computershare Investor Se rvices Inc. (“Computershare”). Complete, sign

and mail your Proxy Form in the postage prepaid env elope provided or fax it to the number indicated

on the form. Registered shareholders may also exerc ise their voting rights (i) by calling the toll-fre e

number 1-866-732-8683 or any other number indicated on the proxy form or the voting instruction form

or (ii) by going to the following website: www.investorvote.com

NON-REGISTERED SHAREHOLDERS

If your shares are held in the name of an intermediary (securities broker, bank, trustee or other financial

institution), you will have received a request for voting instructions from such an intermediary. Foll ow

the instructions on your voting instruction form to vote by telephone, internet or fax, or complete, s ign

and mail the voting instruction form in the postage prepaid envelope provided.

If you do not have access to internet, please conta ct Computershare Investor Services Inc. by calling

at no charge 1-800-564-6253 (within North America) and 514-982-7555 (outside North America) or by

e-mail at [email protected]. You will not be able to vote or submit your questions during the

meeting.

Shareholders who wish to appoint a proxyholder to a ttend the meeting (other than the management

nominees identified in the proxy form or voting inf ormation form) must carefully follow the instructio ns

set out in the proxy materials, including on their proxy form or voting information form. It is import ant

that shareholders comply with the signature and ret urn instructions provided on the form or by their

intermediary. Additionally, after submitting the pr oxy form or voting information form, the proxyholde r

MUST register with the Company’s transfer agent, Co mputershare Trust Company of Canada, at

www.computershare.com/maya to receive a meeting-specific control number after proxy cut-off. Failure

to do so will result in the proxyholder only being able to attend the meeting as a guest with no ability to

ask questions or to vote.

Shareholders who wish to appoint a proxyholder to a ttend the meeting must appoint that person as

proxyholder and register that proxyholder with Comp utershare to receive a meeting-specific control

number. This includes registered shareholders who have duly appointed another person as proxyholder

and non-registered (beneficial) shareholders who ha ve duly appointed themselves or another

person as proxyholder . Registered shareholders who wish to attend the me eting themselves do not

need to register a proxyholder and can use the control number provided on their proxy form.

Non-registered shareholders who wish to participate in and vote at the meeting must appoint

themselves as proxyholder and register themselves a s their proxyholder. To appoint oneself as

proxyholder, non-registered shareholders must inser t their name in the space provided on the voting

information form and follow all of the applicable instructions provided by their intermediary.

After proxy cut-off at 5:00 p.m. (Eastern time) on June 17, 2020, or for non-registered shareholders,

such earlier date as required by their intermediaries, Computershare will send, via e-mail, the meeting-

specific control number to the proxyholder. Without a control number, proxyholders will not be able to

ask questions or to vote at the meeting and will be able to participate as a guest only.

Unable to attend the meeting

Those who are unable to attend the virtual Meeting are urged to complete and sign the Proxy Form

attached with the Management Proxy Circular mailed to them and return it to Computershare Investor

Services Inc. by mail, Proxy Department, 100 University Avenue, 8th Floor, Toronto, Ontario, M5J 2Y1,

or by fax at 1-866-249-7775 (within North America) or 416-263-9524 (outside North America), before

5:00 p.m. on Wednesday, June 17, 2020 .

Holders of shares may also exercise their voting ri ghts (i) by calling the toll-free number 1-866-732-

8683 or any other number indicated on the Proxy Form or the voting instruction form or (ii) by going to

the following website: www.investorvote.com .

For any additional information concerning this matter, please contact Computershare Investor Services

Inc. by calling at no charge 1-800-564-6253 (within North America) and 514-982-7555 (outside North

America) or by e-mail at [email protected].

Participating Online

For those shareholders who have voted prior to the meeting, online or through submitting a proxy or in

any manner described hereinabove, please note that by logging in to the virtual meeting and accepting

the terms and conditions as a Shareholder and votin g at the ballots, you will be revoking previously

submitted proxies for each ballet and therefore may change your vote.

Before the date of the meeting please make sure you r browser is compatible with the meeting

specifications and visit https://web.lumiagm.com/237917800 . This can be done on your laptop,

smartphone or tablet and will need the latest version of Safari, Chrome, Edge or Firefox.

To access the online meeting you will need the following information:

Visit: https://web.lumiagm.com/237917800

Meeting ID: 237917800

Password: maya2020

To log in you must have the following information:

- If you have the control number, enter the fifteen (15) digit control number provided on your form

of proxy provided to you by Computershare (bottom o f page 1), which constitutes your user

name.

- The user name provided to you by Computershare by email provided your appointment has

been registered.

In either case, the case sensitive password is maya2020.

You may also choose the “I am a Guest” option and fill out the form online.

We encourage participants to sign in online at least 30 minutes prior to the meeting scheduled time.

Corporate Update

With significant changes in management and directio n of the Company’s new leadership team, the

Company continues to review and examine all of its assets. The Company no longer considers material

any asset other than its Zgounder Silver Mine and c onsiders all studies regarding non-material assets

to no longer be current. The Company will therefore not update any information on any asset other than

its Zgounder Silver Mine.

With all these developments, all participants will have the opportunity to ask questions of Maya's

Chairman, CEO and executive team at the AGM webcast.

About Maya Gold & Silver Inc.

Maya Gold & Silver Inc. is a publicly traded Canadian company focused on the operation, exploration,

acquisition and development of silver and gold deposits. Maya is currently operating mining and milling

facilities at its Zgounder Silver Mine, an 85%-15% joint venture between its subsidiary, ZMSM, and the

Office National des Hydrocarbures et des Mines (“ ONHYM ”) of the Kingdom of Morocco.

For additional information, please visit Maya’s website at www.mayagoldsilver.com

Or contact:

Benoit La Salle, FCPA FCA

President & CEO

Tel: +1 (514) 951-4411

[email protected]

Alex Ball

VP, Corporate D evelopment & IR

Tel: +1 (647) 919-2227

[email protected]

Forward-Looking Statements

This press release contains forward-looking stateme nts. All statements other than statements of presen t or

historical facts are forward-looking. Forward-looki ng statements involve known and unknown risks, unce rtainties

and assumptions and accordingly, actual results and future events could differ materially from those expressed or

implied in such statements. You are hence cautioned not to place undue reliance on forward-looking sta tements.

Forward-looking statements include words or expressions such as “strong”, “improving”, “looking forward’, “steady”,

“emerging”, “transition”, “stabilize”, “optimize”, “advance”, “maximize”, “improve”, “deliver”, and other similar words

or expressions. Factors that could cause future res ults or events to differ materially from current ex pectations

expressed or implied by the forward-looking stateme nts include the ability to (i) maintain a steady pr oduction for

the year 2020, (ii) the capacity to put in place effective controls, procedures and methods necessary for a rigorous

operation as well as transparent and effective repo rting, and (iii) the capacity to implement a plan t o stabilize,

optimize, advance, and maximize value at both the Zgounder Silver Mine and the Boumadine Polymetallic Project,

as well as the ability to increase reserves and resources, the ability to execute on our strategic focus, fluctuation in

the price of currencies, silver or operating costs, mining industry risks, uncertainty as to calculati on of mineral

reserves and resources, delays, political and social stability in Africa and Morocco in particular, (including our ability

to maintain or renew licenses and permits), the sec urity of our operations and other risks described i n Maya’s

documents filed with Canadian securities regulatory authorities. You can find further information with respect to

these and other risks in Maya’s 2019 Annual MD&A an d other filings made with Canadian securities regul atory

authorities and available at www.sedar.com. These d ocuments are also available on our website at

www.mayagoldsilver.com. Maya disclaims any obligati on to update or revise these forward-looking statem ents,

except as required by applicable law.