Mr. Benoit La Salle reports

AYA GOLD & SILVER REPORTS RECORD Q3-2026 PRODUCTION OF 2.03 MILLION AGEQ OUNCES

Aya Gold & Silver Inc. had record quarterly silver production at its Zgounder silver mine, as well as further advancement of its Boumadine pyrite reclaim operation in the Kingdom of Morocco for the three-month period ended Sept. 30, 2026.

Q3 2026 operational summary

• Record consolidated production of 2.03 million silver-equivalent ounces (Moz AgEq), up 51 per cent year over year (YoY) and up 21 per cent quarter-over-quarter (QoQ); including 0.54 Moz AgEq from the Boumadine pyrite reclaim operation up 186 per cent QoQ;
• Record Zgounder silver production of 1.50 Moz Ag, up 11 per cent YoY;
• Record processing rate of 4,096 tonnes per day (tpd), representing a 5-per-cent increase over Q2 2026;
• Mining rate averaged 4,746 tpd, for the combined open pit and underground operations;
• Silver recovery averaged 92.0 per cent during the quarter.

"Q3 was another record quarter at Zgounder, with records in both silver production and mill throughput. This strong operational execution is a direct result of the optimization work our team has implemented at site," said Benoit La Salle, president and chief executive officer. "With Zgounder now operating consistently, we are firmly on track to achieve our 2026 production guidance."

Operational review

Zgounder silver mine

Zgounder produced 1.50 Moz of silver in Q3 2026, achieving a new quarterly record and an 11-per-cent increase YoY, reflecting optimized operations, while maintaining consistent silver recovery and feed grades. Reported silver production excludes 138,100 oz of silver cement which was not smelted as of quarter-end.

The mill processed a record of 376,863 tonnes (t) of ore (4,096 tpd) in Q3 2026, up 23 per cent YoY, at an average feed grade of 146 grams per tonne (g/t) Ag. Mill availability was strong at 99.4 per cent and metallurgical performance remained within expectations, with silver recovery of 92.0 per cent for the quarter. Mill throughput continues to benefit from a crushing contractor who will remain on site until the planned crusher expansion is completed, expected early 2027.

Mining operations achieved an average mining rate of 4,746 tpd at 143 g/t Ag, reflecting strong performance across both underground and open-pit operations. The open-pit mining rate reached 3,486 tpd with a strip ratio of 12, while the underground operations contributed 1,260 tpd. The construction of the second phase of the tailings storage facility (TSF) was completed in early Q3 2026, as planned.

The ore stockpile increased by 16 per cent QoQ to 434,538 t, in line with the company's objective of building a three-month inventory to support the mine plan.

Boumadine

In late 2025, Aya began reclaiming and selling its historical pyrite stockpile at Boumadine. During Q3 2026, the operation produced 536,879 oz AgEq (Au: Ag ratio of 68:1)1. Material reclaimed and crushed totalled 49,890 t at average grades of 151 g/t Ag and 2.61 g/t Au.

Reclaiming operations are progressing as planned. Tonnes of pyrite reclaimed at Boumadine increased by 191 per cent QoQ, reflecting a more normalized operating run rate, following weather-related disruptions in the first half of the year.

The reclamation and sale of the historical pyrite stockpile at Boumadine, announced on Nov. 19, 2025, is expected to be of limited duration, lasting approximately 20 to 24 months from that date, or until the stockpile is depleted. The overall Boumadine polymetallic project remains at the exploration and evaluation stage and is not in commercial production.

Qualified person

The scientific and technical information contained in this press release have been reviewed and approved by Raphael Beaudoin, PEng, vice-president, operations, of Aya, a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Aya Gold & Silver Inc.

Aya Gold & Silver is a Canadian precious metals mining company anchored in Morocco and active across the full mining value chain. The company has established an exploration record through a systematic, technology-led, data-driven approach, and is focused on expanding its resource base and land package along the Anti-Atlas fault -- one of Africa's most geologically rich, underexplored and mining-friendly regions.

Aya operates Zgounder, a rare, silver-only mine, producing silver dore from its new processing facility. Aya's growth pipeline includes the Boumadine polymetallic project, where feasibility study work is under way, and which hosts a sizable mineralized footprint and potential for further discovery.

Led by a proven team of mining professionals, Aya is guided by a vision of responsible mining, and is committed to delivering sustainable value for shareholders, employees and host communities.

We seek Safe Harbor.