Aya Gold & Silver Updates on Growth of Zgounder

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MONTREAL, Sept. 06, 2024 (GLOBE NEWSWIRE) — Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Company”) in the present day offered an replace on development progress at its Zgounder Silver Mine within the Kingdom of Morocco. The growth venture was 98% full as at August 30, totally funded, and on funds.

The Company’s engineering, procurement, and development accomplice, Duro Felguera (“DF”), encountered points throughout commissioning of the hydraulic unit of the ball mill. Because of these points, DF lately suggested Aya {that a} rework of the hydraulic unit piping is required. This doesn’t impression the integrity of the ball mill, the hydraulic unit or different tools. Commissioning of different subsystems is continuing steadily, and the crushing circuit is now operational.

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Because of the mandatory rework, DF has requested and obtained from Aya a two-month extension for decent commissioning and ramp-up of the Zgounder expanded plant. All different crucial areas of the Zgounder growth venture are progressing to plan or are in commissioning:

• Commissioning of different areas of the plant continues to progress: ore has been crushed all through the whole crushing circuit and despatched to the silo.
• Work has begun on the underground ramp from the 1,925m to 1,900m ranges and can proceed to decrease ranges.
• The complete mining website is now powered with renewable power from the newly constructed 60kV energy line.
• The brand new underground cell workshop is in use.
• The first underground air flow is engaged on all ranges.
• The on-surface cemented backfill mixing station and piping on all sublevels are mechanically full and can shortly be commissioned.
• All 4 underground electrical substations have been deployed.
• The water dams and different water storage infrastructures are operational.
• The brand new tailings dam is in use.
• Water is being recovered from the tailing dam.
• The bottom camp is full.
• The brand new assay laboratory is near-complete with commissioning deliberate finish of September 2024.

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Given the delay in hot-commissioning and ramp-up of the Zgounder expanded plant, the Company’s 2024 manufacturing steering is underneath evaluate. Aya expects to revisit its manufacturing steering based mostly on development progress and operational outcomes by newest November 14, 2024, when it can publish its third-quarter 2024 monetary outcomes.

“Whereas there was a slight delay in sizzling commissioning, all crucial features of the Zgounder Mine growth are advancing as deliberate, and the venture stays on funds,” stated Benoit La Salle, President & CEO. “We’re on monitor for a robust end to the yr with extra operational milestones and exploration drill outcomes anticipated to additional improve stakeholder worth. We’re assured that 2025 will likely be an distinctive yr following completion of the plant ramp-up.”

The technical data on this information launch has been reviewed and accredited by Raphaël Beaudoin, P. Eng, Vice-President, Operations for Aya, and a “Certified Particular person” as outlined underneath NI 43-101.

About Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is a quickly rising, Canada-based silver producer with operations within the Kingdom of Morocco.

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The one TSX-listed pure silver mining firm, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties alongside the possible South-Atlas Fault, a number of of which have hosted past-producing mines and historic assets. Aya’s Moroccan mining property are complemented by its Tijirit Gold Venture in Mauritania, which is being superior to feasibility.

Aya’s administration crew has been centered on maximising shareholder worth by anchoring sustainability on the coronary heart of its operations, governance, and monetary development plans.

For extra data, please go to Aya’s web site at www.ayagoldsilver.com.

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Ahead-Wanting Statements

This press launch incorporates sure statements that represent forward-looking data throughout the which means of relevant securities legal guidelines (“forward-looking statements”), which displays administration’s expectations relating to Aya’s future development and enterprise prospects (together with the timing and improvement of latest deposits and the success of exploration actions) and different alternatives. Wherever doable, phrases comparable to “plan”, “replace”, “progress”, “on funds”, “proceed”, “expects”, “advancing”, “stays”, “on monitor”, “assured”, “distinctive”, and related expressions or statements that sure actions, occasions or outcomes “could”, “might”, “would”, “would possibly”, “will”, or are “doubtless” to be taken, happen or be achieved, have been used to establish such forward-looking data. Particular forward-looking statements on this press launch embody, however are usually not restricted to, statements and knowledge with respect to development of the commissioning work in line with Aya’s plan, anticipated dates of sizzling commissioning, ramp up and business manufacturing, capacities of manufacturing till the corporate reaches business manufacturing, capacities of manufacturing in 2024 and statements with respect to Aya’s steering for manufacturing. Though the forward-looking data contained on this press launch replicate administration’s present beliefs based mostly upon data presently accessible to administration and based mostly upon what administration believes to be cheap assumptions, Aya can’t be sure that precise outcomes will likely be in keeping with such forward-looking data. Such forward-looking statements are based mostly upon assumptions, opinions and evaluation made by administration in mild of its expertise, present circumstances, and its expectations of future developments that administration consider to be cheap and related however that will show to be incorrect. These assumptions embody, amongst different issues, the power to execute on the commissioning plan, the power to extend the useful resource at Zgounder, the power of those outcomes to translate into a rise of useful resource, the power to acquire any requisite governmental approvals, acquiring regulatory permits for on-site work, importing items and equipment and employment permits, the accuracy of Mineral Reserve and Mineral Useful resource Estimates (together with, however not restricted to, ore tonnage and ore grade estimates), the value of silver, the value of gold, alternate charges, gasoline and power prices, future financial circumstances, anticipated future estimates of free money move, and programs of motion. Aya cautions you to not place undue reliance upon any such forward-looking statements.

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The dangers and uncertainties that will have an effect on forward-looking statements embody, amongst others: the inherent dangers concerned in exploration and improvement of mineral properties, together with authorities approvals and allowing, modifications in financial circumstances, modifications within the worldwide worth of silver gold and different key inputs, modifications in mine plans (together with, however not restricted to, throughput and recoveries being affected by metallurgical traits) and different elements, comparable to venture execution delays, lots of that are past the management of Aya, in addition to different dangers and uncertainties that are extra totally described in Aya’s 2023 Annual Info Type dated March 28, 2024, and in different filings of Aya with securities and regulatory authorities which can be found on SEDAR+ at www.sedarplus.ca. Aya doesn’t undertake any obligation to replace forward-looking statements ought to assumptions associated to those plans, estimates, projections, beliefs, and opinions change. Nothing on this doc must be construed as both a suggestion to promote or a solicitation to purchase or promote Aya securities. All references to Aya embody its subsidiaries except the context requires in any other case.

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