Mr. Benoit La Salle reports

AYA GOLD & SILVER ANNOUNCES HIGH-GRADE, AT-DEPTH DRILL RESULTS AT ZGOUNDER

Aya Gold & Silver Inc. has released high-grade silver drill results from its at-depth drill program at the Zgounder silver mine in Morocco.

Key highlights (all intersections are in core lengths):

• At depth near the granite, diamond drill hole ZG-23-25 intercepted 1,075 grams per tonne silver over 7.5 metres, and ZG-SF-23-037 intercepted 1,356 g/t Ag over 4.0 m.
• In the central zone from the 2,125 m level:
  • Hole DZG-SF-23-249 intercepted 5,755 g/t Ag over 2.5 m.
  • Hole DZG-SF-23-251 intercepted 988 g/t Ag over 9.5 m, including 3,948 g/t Ag over 2.0 m.
• In the central zone from the 1,950 m level:
  • Hole DZG-SF-23-214 intercepted 2,653 g/t Ag over 6.0 m.
  • Hole DZG-SF-23-153 intercepted 3,386 g/t Ag over 4.0 m, including 6,295 g/t Ag over 2.0 m.
• In the central zone from the 2,025 m level:
  • Hole TD28-23-2030-922 intercepted 7,868 g/t Ag over 4.8 m.

"Today's Zgounder results, including holes ZG-23-25 and ZG-SF-23-037, confirm mineralization at depth at the granite contact outside the current resource boundary," said Benoit La Salle, president and chief executive officer. "We are excited that these initial results show significant down-plunge extensions of the Zgounder deposit and demonstrate continuity of high grades and broad widths. Four underground rigs are now mobilized, with the aim of expanding mineral resources at depth."

Included in this release are results for 248 holes, which include 78 underground diamond drill holes, 25 surface diamond drill holes, 94 T28 holes and 51 YAK holes (T28 and YAK -- percussion drilling using an air-compressed hammer). For a full summary of today's results, refer to an attached table.

Quality assurance/quality control

For core drilling, all individual samples represent approximately one metre in length of core, which is halved. Half of the core is kept on site for reference, and its counterpart is sent for preparation and assaying to African Laboratory for Mining and Environment (Afrilab) in Marrakech, Morocco. All samples are analyzed for silver, copper, iron, lead and zinc using aqua regia and finished by atomic absorption spectroscopy (AAS). Samples grading above 200 g/t Ag are reanalyzed using fire assay.

For definition drilling using T28 drilling equipment, all individual samples represent 1.2 m in length. Samples are assayed at either the Zgounder mine laboratory or at Afrilab. At Afrilab, all samples are analyzed for silver, copper, iron, lead and zinc using aqua regia and finished by AAS. Samples grading above 200 g/t Ag are reanalyzed using fire assay. At ZMSM, all samples are analyzed for silver only using aqua regia and finished by AAS. Rigorous quality controls are applied at both locations.

David Lalonde, BSc, PGeo, head of exploration, Aya Gold & Silver's qualified person, has reviewed this press release 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 has been focused on maximizing shareholder value by anchoring sustainability at the heart of its operations, governance and financial growth plans.

We seek Safe Harbor.