Mr. Benoit La Salle reports

AYA GOLD & SILVER EXPANDS 2023 EXPLORATION PROGRAM

Aya Gold & Silver Inc. has increased its 2023 exploration program at its Moroccan properties, including Boumadine polymetallic project, Zgounder silver deposit, Zgounder Regional properties and the recently acquired Tirzzit copper-silver property.

Highlights

Boumadine

An additional 40,000 meters ("m") have been added to the 2023 diamond drill hole ("DDH") program with the following objectives:

Expand the strike length mineralization to the south beyond holes BOU-DD23-136 and BOU-DD23-142 (see news release dated July 5, 2023)

Test drill new zone in the northwest where massive sulphide is associated with a large, brecciated zone, which currently extends 1.5 kilometers ("km")

Complete infill drilling at 50m x 50m (indicated category) and 100m x 100m (inferred category) spacings with the aim of delivering a resource by Q1-2024

Six drill rigs are currently active on Boumadine as part of its expanded drill program, which now totals 76,000m.

Zgounder Regional

An additional 7,300m have been added to the 2023 DDH program with the following objectives:

Test the potential continuation of the Zgounder deposit - east of the granophyre and to test the southern rhyolite contact with the volcano-sediments

Test drill a new target in the Tourchkal area showing silver ("Ag") grabs and stream anomalies on the property

One drill rig is currently active at Zgounder Regional as part of its expanded drill program, which now totals 14,000m.

Zgounder

An additional 3,000m of extra surface drilling near the open-pit have been added to the 2023 DDH program with the following objectives:

Follow up on 2023 drill results east of Zgounder

Follow up on 2023 RC drill results in the southern part of the open-pit

One surface and two underground drill rigs are currently active at Zgounder as part of its expanded drill program, which now totals 29,000m. We expect the mobilization of two additional underground rigs in the coming weeks.

Tirzzit

Initial stream sediment and mapping campaign.

High resolution hyperspectral survey.

"We are very encouraged with Boumadine exploration results over the past 12 months and are more then doubling our 2023 drill exploration program for this project to 76,000 meters. We continue to grow the strike, which now extends 3.8 kilometers remaining open in all directions. This holds tremendous potential and requires additional drilling to ensure that we add tonnage and maximize value for all stakeholders," said Benoit La Salle, President & CEO. "We are also encouraged by our early work at Zgounder Regional and remain focused on finding additional resources including the potential for satellite deposits within trucking distance from the mine."

Boumadine

The expanded drilling program announced is ongoing with six rigs currently drilling. The program extension (Figure 1) will primarily focus on infill drilling on the Main trend to deliver a strong resource in Q1-2024. The second objective of the program extension is to keep increasing the strike length of the Main Trend, which remains open in all directions. Finally, we will use this program extension to test drill new targets defined by our earlier detailed mapping, like the newly discovered Northwest Zone and Tizzi extensions.

Zgounder

The initial drill program on the Zgounder deposit continues with two underground and one surface drill rigs. The development of the underground exploration galleries is progressing well, which will allow us to mobilize two additional underground rigs in the coming weeks. Aya is on target to complete the exploration and infill drilling at depth to the granite contact (Figure 2). In addition, an extra 3,000m were added to the Zgounder surface program to extend the mineralization in the vicinity of the open-pit, where we received some high grade results during the RC drilling campaign earlier this year.

Zgounder Regional

Currently, one DDH rig is operating on the Zgounder Regional properties. With the program extension (Figure 3), the Corporation will be testing different targets in the vicinity of the Zgounder deposit, like the potential continuation of the Zgounder deposit below the Miocene cover east of the granophyre (Figure 4). This geological target was identified following structural mapping and 3D modelization of Zgounder geological units. Another important target is the southern contact of the rhyolite that cuts the sedimentary sequence, which hosts the Zgounder mineralization. Additionally, we will test drill some silver and gold anomalies in the Tourchkal area, where we believe host satellite deposits for the Zgounder Mine could be discovered.

Tirzzit

We are currently reviewing the historical data on the newly acquired Tirzzit project, which contains 57 short drill holes, and some ground geophysics. For the reminder of the year, we will focus on target generation by completing a stream sediment program, hyperspectral survey and some detailed mapping and prospecting. The aim is to identify drill targets for 2024.

Qualified Person

The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, Head of Exploration, Qualified Person, for accuracy and compliance with National Instrument 43-101.

About Aya Gold & Silver Inc.

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

The only TSX-listed pure silver mining company, 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 is being advanced to feasibility.

Aya's management team maximizes shareholder value by anchoring sustainability at the heart of its production, resource, governance, and financial growth plans.

We seek Safe Harbor.