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PRESS RELEASE PRESS RELEASE PRESS RELEASE PRESS RELEASE
Maya Maya Maya Maya Gold&Silver Gold&Silver Gold&Silver Gold&Silver commences commences commences commences a strategic a strategic a strategic a strategic 51 51 51 51,000 Met ,000 Met ,000 Met ,000 Meters ers ers ers
drill drill drill drill program program program program entirely financed by its own entirely financed by its own entirely financed by its own entirely financed by its own funds funds funds funds
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Montreal, Québec- October 15, 2019 – Maya Gold & Si lver Inc. (“Maya” or the “Corporation”)
(TSX: MYA) is pleased to announce that it has commenced a 51, 000 meters drill program at its
Boumadine, Zgounder and Azegour properties in the ki ngdom of Morocco. This program is to be
paid by its own generated funds and the company is not seeking financing for the purpose of this
drill program.
The new drill program is designed to target the potential extensions of mineralization to increase
the current size of the deposits and the quality of the mineral resources.
The overall drilling program of 51,000 meters inclu des 10,000 meters at Boumadine, 31,000
meters at Zgounder and 10,000 meters at Azegour with a total of 11 drills.
These exploration activities are being conducted by Maya’s geologists and supervised by
Merouane Rachidi, P.Geo., Ph.D., and Claude Dupless is Eng., from GoldMinds Geoservices Inc,
independent Qualified Persons under NI 43-101 standards.
Noureddine Mokaddem, Chairman & CEO stated : « With this fully-financed exploration program
we look forward to the evaluation of numerous new mineralized gold, silver, base metals and
germanium zones on our properties. »
At Zgounder , the objective is to increase the amount and the quality of the mineral resources near
the surface and at depth. The reverse circulation ( RC) drilling program of 15,000 meters at the
Eastern zone aims at increasing quality and extent of silver mineral resources within pit-
constrained resources highlighted in the PEA. An un derground drill is being deployed for 6000
meters allocated on the 2000 level to drill the ext ensions aiming at increasing the amount and
quality of the mineral resources. The drill will al so be moved at the 1975 level which was
dewatered and is accessible with the new internal r amp connecting 2000 level to 1975m,.
Dewatering is on-going to enable access early 2020 to the 1950 level which should be followed by
connection of a new ramp to the 1950-1975 levels. T he water is being stored in the new tailings
pond. A surface diamond drill for the 10,000 meters is being mobilized as well to the West of the
existing mine to increase knowledge and follow-up on what is believed to be Zgounder bis.
At Boumadine , the objective is to increase the amount of minera l resources near surface as well
as the quality of the gold and germanium mineraliza tion especially at the Imarighen and North
zone identified in the PEA study. A surface drill has started and a second one is being added.
At Azegour, the objective is to allow the preparation of an NI -43-101 mineral resources in
Tungsten, Copper and Molybdenum for the scheduled P EA to be expected mid-2020. As soon as
the fencing on the surface of hazardous historical opening is completed, the underground survey
will be finished and two surface diamond drills will be mobilized.
The drill plan with progress achievements will be d isclosed ounce validated with associated maps
and cross sections.
ABOUT MAYA
Maya Gold & Silver Inc. is a publicly-traded Canadi an company focused on the operation,
exploration and development of gold and silver depo sits in Morocco. Maya is currently operating
mining and milling operations at its Zgounder Mine, an 85%-15% split ownership between its
subsidiary, ZMSM, and the ONHYM of the Kingdom of Morocco.
Its portfolio also includes the Boumadine polymetallic deposit located in the Anti-Atlas Mountains
of Eastern Morocco. The property is a joint venture with ONHYM whereby Maya retains an 85%
ownership.
Additionally, the Corporation’s portfolio includes the Amizmiz and Azegour properties, both being
100% owned, with gold, tungsten, molybdenum and cop per deposits covering over 100 square
kilometres in a historical mining district
Forward-looking statements
This news release contains statements about future events or future performance and reflects
management’s current expectations and assumptions. These are “forward-looking” because we
have used what we know and expect today to make a s tatement about the future. Forward-
looking statements usually include words such as ma y, intend, plan, expect, anticipate, and
believe or other similar words. We believe the expe ctations reflected in these forward-looking
statements are reasonable. However, actual events a nd results could be substantially different
because of the risks and uncertainties associated w ith 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. All of the forw ard-looking statements made in this press
release are qualified by these cautionary statement s and by those made in the Corporation’s
filings with SEDAR.
On behalf of the Board:
Noureddine Mokaddem
Founder, Chairman & CEO
+1 514-866-2008
www.mayagoldsilver.com