Mr. Benoit La Salle reports

AYA GOLD & SILVER REPORTS RECORD Q2-2026 SILVER PRODUCTION

Aya Gold & Silver Inc had record quarterly production and mining rates at its Zgounder silver mine in the Kingdom of Morocco for the three-month period ended June 30, 2026. The company has also advanced its recently launched Boumadine pyrite-reclaiming operation.

Q2 2026 operational summary:

• Record consolidated production of 1.68 million silver equivalent ounces, up 61 per cent year over year and up 12 quarter over quarter, including 190,000 ounces AgEq from the Boumadine pyrite-reclaiming operation;
• Record Zgounder silver production of 1.49 million ounces silver, up 43 per cent year over year and up 18 per cent quarter over quarter;
• Record processing rate averaging 3,889 tonnes per day, representing a 7-per-cent increase over Q1 2026;
• Record mining rate averaging 4,880 tonnes per day for the combined open-pit and underground operations;
• Silver recovery averaged 91.2 per cent during the quarter.

"We are pleased with our second quarter performance as our team delivered both record production and mining rates through disciplined execution. Processing rates are running at expected levels and reflect the successful implementation of optimization initiatives. This strong operational performance positions us well to achieve our 2026 production targets," said Benoit La Salle, president and chief executive officer.

Operational review

Zgounder silver mine

Zgounder produced 1.49 million ounces of silver in Q2 2026, an increase of 43 per cent year over year, reflecting sustained mine production, mill throughput, recovery and feed grade. Silver production increased 18 per cent quarter over quarter, driven by record throughput as operations rebounded from the seasonally lower first quarter.

The mill processed 353,888 tonnes of ore (3,889 tonnes per day) in Q2 2026, up 29 per cent year over year, at an average feed grade of 141 grams per tonne Ag. Mill availability remained strong at 97 per cent. Metallurgical performance remained within expectations, with silver recovery of 91.2 per cent for the quarter. Mill throughput was positively impacted in the quarter by a temporary crushing contractor, which was mobilized in late Q1 2026. The contractor will remain on site until the planned crusher expansion at the Zgounder mill is completed, after which the need for a crushing contractor will be re-evaluated.

Mining operations achieved a record quarter in Q2 2026, with an average mining rate of 4,880 tonnes per day at 137 grams per tonne Ag, reflecting strong performance across both underground and open-pit operations. The open-pit mining rate reached 3,437 tonnes per day with a strip ratio of 10, while the underground operations contributed 1,444 tonnes per day. The construction of the second phase of the tailings storage facility (TSF) is expected to be completed in early Q3 2026, as planned, resulting in a return to normal open-pit operations and a gradual increase in strip ratios toward the annual mine plan ratio of 16.

The stockpile increased by 33 per cent quarter over quarter to 373,884 tonnes, in line with the company's objective of building a three-month inventory to support the mine plan.

Boumadine

In late 2025, Aya commenced the reclaiming and sale of its historical pyrite stockpile at Boumadine. During Q2 2026, the operation produced 187,784 ounces AgEq (gold-to-silver ratio of 64:1). Material reclaimed and crushed totalled 17,153 tonnes at average grades of 179 g/t Ag and 2.43 g/t Au.

Reclaiming operations are progressing well. Production at Boumadine steadily increased throughout the quarter, reflecting a return to normal operating conditions following weather-related disruptions. Through the quarter, crushed pyrite production was partially stockpiled in preparation for the commencement of bulk shipments in the second half of 2026. The introduction of bulk shipping, alongside continuing containerized shipments, is expected to significantly increase pyrite shipping capacity in the second half of 2026.

The reclamation and sale of the historical pyrite stockpile at Boumadine, announced on Nov. 19, 2025, are expected to be of limited duration, lasting approximately 20 to 24 months from that date or until the stockpile is depleted. The overall Boumadine polymetallic project remains at the exploration and evaluation stage and is not in commercial production.

Qualified person

The scientific and technical information contained in this press release have been reviewed and approved by Raphael Beaudoin, PEng, vice-president, operations, of Aya, a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Aya Gold & Silver Inc.

Aya Gold & Silver is a Canadian precious metals mining company anchored in Morocco and active across the full mining value chain. The company has established an exploration record through a systematic, technology-led, data-driven approach and is focused on expanding its resource base and land package along the Anti-Atlas fault -- one of Africa's most geologically rich, underexplored and mining-friendly regions.

Aya operates Zgounder, a rare, silver-only mine, producing silver dore from its new processing facility. Aya's growth pipeline includes the Boumadine polymetallic project, where feasibility study work is under way. The project hosts a sizable mineralized footprint and potential for further discovery.

Led by a proven team of mining professionals, Aya is guided by a vision of responsible mining and is committed to delivering sustainable value for shareholders, employees and host communities.

We seek Safe Harbor.