AYA GOLD & SILVER (TSX: AYA) DELIVERS RECORD QUARTERLY MINE AND MILL THROUGHPUT

Aya Gold & Silver Inc. has released record mine and mill throughput and strong production in Q3 2022 at the Zgounder silver mine in Morocco.

Highlights:

• Record mine throughput of 825 tonnes per day (tpd) in Q3 2022 with a monthly record of 941 tpd in September, 2022;
• Record mill throughput of 803 tpd in Q3 2022 with a monthly record of 845 tpd in September, 2022;
• 451,681 ounces (oz) of silver (Ag) produced in Q3 2022, a 33.4-per-cent improvement from Q3 2021;
• Head grade of 216 grams per tonne (g/t) Ag mined and 232 g/t Ag at the mill in Q3 2022;
• Silver recovery of 86.2 per cent in Q3 2022, a 6.4-per-cent improvement from Q3 2021;
• Over 1,150 metres (m) of permanent underground infrastructure completed;
• Maintaining 2022 production guidance of 1.6 million to 1.8 million oz Ag.

"Our mining operations are performing very well as a result of continued strong execution and measures taken by our team in previous quarters to improve efficiencies and deliver a strong quarter, " said Benoit La Salle, president and chief executive officer. "In what is the driest quarter of the year, we particularly benefited from our optimized water management facilities and measures. We have started mine development and are maintaining annual cost and production guidance ahead of announcing several expansion-related strategic milestones at Zgounder and an aggressive drill exploration program, which will unlock value for all stakeholders."

Q3 2022 production update

During the third quarter, record mine and mill throughput of 825 tpd and 803 tpd, respectively, were achieved along with quarterly production of 451,681 oz Ag with a mill feed grade of 232 g/t Ag. A total of 75,907 tonnes (t) were mined at a head grade of 216 g/t Ag with underground mine development being a major focus in the quarter. Silver recovery was 84.5 per cent at the flotation plant and 88.9 per cent at the cyanidation plant for an average recovery of 86.2 per cent in the quarter. Mill availabilities of 92 per cent for the flotation plant and 95.6 per cent for the cyanidation plant were achieved.

As mine operations are scaling up to reach 2,700 tpd by the end of 2024, management has determined that additional definition drilling is required to ensure predictable grade in stopes. Additional equipment and human resources have been added to meet this objective. Additional inventory on the run of mine (ROM) pad will help maintain a more consistent grade sent to the mill.

Infrastructure development continues to ramp up and reached 470 metres in September, 2022, close to the 500 m monthly objective for 2023 to 2024.

New mine levels were put on-line and will contribute to ensure mine ramp-up in 2023, as per the mine plan. Underground mine production is expected to accelerate in 2023 to accumulate a stockpile of 200,000 tonnes for the new plant commissioning in 2024.

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