Mr. Benoit La Salle reports

AYA GOLD & SILVER ANNOUNCES HIGH-GRADE DRILL RESULTS AT TIJIRIT

Aya Gold & Silver Inc. has released exploration drill results from its Tijirit gold project, located in Mauritania. The results confirm high-grade mineralization that will be used to complete the resources and reserves update for the project.

Key highlights:

• A 25,176-metre drill program was completed, consisting of 22,067 m of reverse circulation (RC) holes and 3,109 m of diamond drill holes.
• Results include:
  • T23RC155 intersected 10.40 grams per tonne gold over 10.0 m, including 3.0 m at 19.64 g/t Au.
  • T23RC145 intersected 12.86 g/t Au over 4.0 m, including 1.0 m at 48.17 g/t Au.
  • T23RC154 intersected 49.61 g/t Au over 1.0 m.
  • T22RC097 intersected 16.36 g/t Au over 3.0 m, including 1.0 m at 46.39 g/t Au.
  • T23RC113 intersected 3.45 g/t Au over 10.0 m, including 4.0 m at 5.72 g/t Au.
  • T23RC144 intersected 9.59 g/t Au over 4.0 m.
  • T23RC167 intersected 12.70 g/t Au over 3.0 m, including 2.0 m at 18.77 g/t Au.
  • T23RC162 intersected 16.46 g/t Au over 2.0 m.

"Our infill drill program at the Tijirit gold project has delivered high-grade drill results, confirming gold at both the Eleonore and Eleonore East deposits," said Benoit La Salle, president and chief executive officer. "These results are significant in the context of delivering a resource update and completing our feasibility study in the coming months. These drill results support the potential for an open-pit mine and are complemented by our preliminary metallurgical work, which indicates recoveries in excess of 94 per cent."

"These drill results are in line with our expectations and confirm Tijirit's potential as we look forward to the project's future development," commented Thierry Vergnol, chief executive officer of Tijirit Exploitation SA, Mauritanian subsidiary, holder of the Tijirit permit.

2022/2023 exploration results

The 2022/2023 drill campaign, covering 25,000 m, totalled 169 RC holes for 22,067 m and 13 diamond drill holes for 3,109 m. Drilling was conducted over the Eleonore and Eleonore East trends. Results from the campaign confirmed the high-grade, nuggetty nature of the mineralization (see an attached table).

Next steps

SGS is in the process of updating the Tijirit resources and reserves; once updated, the Aya team plans to use the updated resources and reserves to complete a feasibility study for the Tijirit project.

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core and RC cuttings. Samples were prepared on site by Westago Sarl and transported in sealed bags for analysis at MSALab in Nouakchott. Standards of different grades, blanks and duplicates were inserted every 37 samples, in addition to the standards, blanks and pulp duplicates inserted by MSALab.

Qualified person

The scientific and technical information contained in this press release has been reviewed by David Lalonde, BSc, head of exploration, a qualified person for accuracy and compliance with National Instrument 43-101.

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 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.

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