Aya Gold & Silver Inc. (TSX: AYA ; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce exploration drill results from its Tijirit Gold Project, located in Mauritania. The results confirm high-grade mineralization that will be used to complete the resources and reserves update for the project.

Key Highlights

• Completion of a 25,176-meter (“m”) drill program consisting of 22,067m of reverse circulation (“RC”) holes and 3,109m of diamond drill holes (“DDH”).
• Results include:
• T23RC155 intersected 10.40 grams per tonne (“g/t”) gold (“Au”) over 10.0m, including 3.0m at 19.64 g/t Au
• T23RC145 intersected 12.86 g/t Au over 4.0m, including 1.0m at 48.17 g/t Au
• T23RC154 intersected 49.61 g/t Au over 1.0m
• T22RC097 intersected 16.36 g/t Au over 3.0m, including 1.0m at 46.39 g/t Au
• T23RC113 intersected 3.45 g/t Au over 10.0m, including 4.0m at 5.72 g/t Au
• T23RC144 intersected 9.59 g/t Au over 4.0m
• T23RC167 intersected 12.70 g/t Au over 3.0m, including 2.0m at 18.77 g/t Au
• T23RC162 intersected 16.46 g/t Au over 2.0m

“Our infill drill program at the Tijirit Gold Project has delivered high-grade drill results, confirming gold at both the Eleonore and Eleonore East deposits,” said Benoit La Salle, President & CEO. “These results are significant in the context of delivering a resource update and completing our feasibility study in the coming months. These drill results support the potential for an open-pit mine and are complemented by our preliminary metallurgical work, which indicates recoveries in excess of 94%.”

“These drill results are in line with our expectations and confirm Tijirit’s potential as we look forward to the project’s future development,” commented Thierry Vergnol, CEO of Tijirit Exploitation SA, Mauritanian subsidiary, holder of the Tijirit permit.

2022 - 2023 Exploration Results

The 2022/2023 drill campaign covering 25,000m, totaled 169 RC holes for 22,067m and 13 DDH for a total of 3,109m (Appendix 2). Drilling was conducted over the Eleonore and the Eleonore East Trend. Results from the campaign confirmed the high grade, nuggetty nature of the mineralization (Table 1 and Appendix 1).

Next Steps

SGS is in the process of updating the Tijirit resources and reserves; once updated, the Aya team plans to use the updated resources and reserves to complete a feasibility study for the Tijirit Project.

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core and RC cuttings. Samples were prepared on site by WESTAGO SARL and transported in sealed bags for analysis at MSALab laboratory in Nouakchott. Standards of different grades, blanks and duplicates were inserted every 37 samples in addition to the standards, blanks and pulp duplicate inserted by MSALab.

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