Mr. Benoit La Salle reports

AYA GOLD & SILVER ANNOUNCES JANUARY 2025, FOURTH QUARTER AND FULL YEAR 2024 PRODUCTION RESULTS

Aya Gold & Silver Inc. produced 491,310 ounces of silver in the fourth quarter of 2024 at its Zgounder silver mine, located in Morocco. In addition, Aya produced 383,515 oz of Ag in January, 2025.

Production highlights:

• Silver production of 491,310 oz in Q4 2024 and 383,515 oz in January, 2025, the latter of which represents an increase of 77 per cent over December, 2024.
• Processed 113,310 tonnes in Q4 2024 and 88,868 tonnes of ore in January, 2025, the latter of which represents an increase of 53 per cent over December, 2024.
• Silver recovery of 85 per cent in Q4 2024 and 87-per-cent silver recovery in January, 2025, the latter of which represents an increase of 6 per cent over December, 2024.
• Combined mill availability of 88 per cent in Q4 2024 and 95-per-cent mill availability in January, 2025, the latter of which represents an 8-per-cent increase compared with December, 2024.
• Mine production of 102,485 tonnes in Q4 2024 and 50,403 tonnes of ore mined in January, 2025, the latter of which represents a 29-per-cent increase compared with December, 2024, as per Aya's mine ramp-up plan.

"I am pleased to announce Q4 2024 and January, 2025 production results, achieving 2024 production guidance and highlighting a significant step-change in output and an 77-per-cent month-over-month increase from December, 2024, to January, 2025. This strong performance is driven by improving recoveries and the successful ramp-up of the new Zgounder plant, which is operating above nameplate capacity, alongside the open pit, which continues to exceed expectations," stated president and chief executive officer Benoit La Salle. "Month-over-month improvements across the integrated operations at Zgounder reflect disciplined execution and operational strength, positioning us for sustained production growth and record profitability in 2025."

In 2024, the new mill was commissioned and reached commercial production in late December, 2024. Underground stopes were further defined, and levels down to 1,900 were developed. The open pit performed well, which gives further flexibility to reach the objective of a total mining rate of 3,000 tonnes per day (tpd) in 2025.

Q4 2024 and full-year earnings release date

Aya will release its fourth quarter and full-year 2024 financial and operational results before market open on March 28, 2025, and will host a conference call shortly afterward. Details of the call will be released at a later date.

About Aya Gold & Silver Inc.

Aya Gold & Silver is a rapidly growing, Canada-based silver producer with operations in Morocco.

Aya operates the high-grade Zgounder silver mine and is exploring its properties along the prospective South-Atlas fault, several of which have hosted past-producing mines and historical resources. Aya's Moroccan mining assets are complemented by its Tijirit gold project in Mauritania, which, subject to the announcement of Sept. 12, 2024, will be developed by Mx2 Mining, a new spinout gold growth company.

Aya's management team has been focused on maximizing shareholder value by anchoring sustainability at the heart of its operations, governance and financial growth plans.

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