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):

• From surface, diamond drill hole ZG-23-54 intercepted 1,846 grams per tonne silver over seven metres, including five m at 2,095 g/t Ag; and ZG-23-35 intercepted 683 g/t Ag over 15 m, including six m at 1,221 g/t Ag.
• In the central zone from the 1,950 m level:
  • Hole ZG-SF-23-055 intercepted 672 g/t Ag over 7.5 m near the granite contact.
  • Hole DZG-SF-23-292 intercepted 2,430 g/t Ag over 4.5 m, including 4,174 g/t Ag over 2.5 m.
  • Hole ZG-SF-23-038 intercepted 675 g/t Ag over 14 m, including 951 g/t Ag over seven m.
  • Hole TD28-23-1950-752 intercepted 858 g/t Ag over 12 m, including 1,905 g/t Ag over 4.8 m.
• In the central zone from the 1,925 m level:
  • Hole ZG-SF-23-056 intercepted 391 g/t Ag over 11.5 m near the granite contact.
• In the central zone from the 2,100 m level:
  • Hole YAKD-23-2100-202 intercepted 1,005 g/t Ag over 30 m, including 2,354 g/t Ag over 12 m.

"Today's results, including holes ZG-23-54 and DZG-SF-23-292, further validate the very-high-grade nature of Zgounder, while holes ZG-SF-23-055 and ZG-SF-23-056 confirm mineralization near the granite contact," said Benoit La Salle, president and chief executive officer. "Importantly, these initial results outline significant down-plunge extensions of the deposit and continue to return thick, high-grade intercepts. Four underground rigs are now mobilized, with the objective of expanding mineral resources at depth."

Included in this release are results for 249 holes, which include 114 underground diamond drill holes, 35 surface diamond drill holes, 61 T28 holes and 39 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.