Aya Gold & Silver Updates on Growth of Zgounder

Article content material

MONTREAL, Sept. 06, 2024 (GLOBE NEWSWIRE) — Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Company”) at the moment supplied an replace on building progress at its Zgounder Silver Mine within the Kingdom of Morocco. The growth venture was 98% full as at August 30, absolutely funded, and on finances.

The Company’s engineering, procurement, and building companion, Duro Felguera (“DF”), encountered points throughout commissioning of the hydraulic unit of the ball mill. On account of these points, DF not too long ago suggested Aya {that a} rework of the hydraulic unit piping is required. This doesn’t impression the integrity of the ball mill, the hydraulic unit or different gear. Commissioning of different subsystems is continuing steadily, and the crushing circuit is now operational.

Article content material

On account of the mandatory rework, DF has requested and obtained from Aya a two-month extension for decent commissioning and ramp-up of the Zgounder expanded plant. All different vital areas of the Zgounder growth venture are progressing to plan or are in commissioning:

• Commissioning of different areas of the plant continues to progress: ore has been crushed all through your complete crushing circuit and despatched to the silo.
• Work has begun on the underground ramp from the 1,925m to 1,900m ranges and can proceed to decrease ranges.
• Your complete mining website is now powered with renewable vitality from the newly constructed 60kV energy line.
• The brand new underground cell workshop is in use.
• The first underground air flow is engaged on all ranges.
• The on-surface cemented backfill mixing station and piping on all sublevels are mechanically full and can shortly be commissioned.
• All 4 underground electrical substations have been deployed.
• The water dams and different water storage infrastructures are operational.
• The brand new tailings dam is in use.
• Water is being recovered from the tailing dam.
• The bottom camp is full.
• The brand new assay laboratory is near-complete with commissioning deliberate finish of September 2024.

Article content material

Article content material

Given the delay in hot-commissioning and ramp-up of the Zgounder expanded plant, the Company’s 2024 manufacturing steering is underneath evaluate. Aya expects to revisit its manufacturing steering primarily based on building progress and operational outcomes by newest November 14, 2024, when it can publish its third-quarter 2024 monetary outcomes.

“Whereas there was a slight delay in scorching commissioning, all vital elements of the Zgounder Mine growth are advancing as deliberate, and the venture stays on finances,” mentioned Benoit La Salle, President & CEO. “We’re on monitor for a powerful end to the 12 months with extra operational milestones and exploration drill outcomes anticipated to additional improve stakeholder worth. We’re assured that 2025 will probably be an distinctive 12 months following completion of the plant ramp-up.”

The technical data on this information launch has been reviewed and authorized by Raphaël Beaudoin, P. Eng, Vice-President, Operations for Aya, and a “Certified Particular person” as outlined underneath NI 43-101.

About Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is a quickly rising, Canada-based silver producer with operations within the Kingdom of Morocco.

Article content material

The one TSX-listed pure silver mining firm, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties alongside the possible South-Atlas Fault, a number of of which have hosted past-producing mines and historic sources. Aya’s Moroccan mining belongings are complemented by its Tijirit Gold Venture in Mauritania, which is being superior to feasibility.

Aya’s administration crew has been centered on maximising shareholder worth by anchoring sustainability on the coronary heart of its operations, governance, and monetary progress plans.

For added data, please go to Aya’s web site at www.ayagoldsilver.com.

Or contact

Ahead-Wanting Statements

This press launch comprises sure statements that represent forward-looking data throughout the which means of relevant securities legal guidelines (“forward-looking statements”), which displays administration’s expectations relating to Aya’s future progress and enterprise prospects (together with the timing and growth of latest deposits and the success of exploration actions) and different alternatives. Wherever potential, phrases resembling “plan”, “replace”, “progress”, “on finances”, “proceed”, “expects”, “advancing”, “stays”, “on monitor”, “assured”, “distinctive”, and related expressions or statements that sure actions, occasions or outcomes “could”, “may”, “would”, “would possibly”, “will”, or are “doubtless” to be taken, happen or be achieved, have been used to determine such forward-looking data. Particular forward-looking statements on this press launch embrace, however will not be restricted to, statements and data with respect to development of the commissioning work in keeping with Aya’s plan, anticipated dates of scorching commissioning, ramp up and industrial manufacturing, capacities of manufacturing till the corporate reaches industrial manufacturing, capacities of manufacturing in 2024 and statements with respect to Aya’s steering for manufacturing. Though the forward-looking data contained on this press launch replicate administration’s present beliefs primarily based upon data presently obtainable to administration and primarily based upon what administration believes to be cheap assumptions, Aya can’t be sure that precise outcomes will probably be according to such forward-looking data. Such forward-looking statements are primarily based upon assumptions, opinions and evaluation made by administration in mild of its expertise, present situations, and its expectations of future developments that administration consider to be cheap and related however which will show to be incorrect. These assumptions embrace, amongst different issues, the flexibility to execute on the commissioning plan, the flexibility to extend the useful resource at Zgounder, the flexibility of those outcomes to translate into a rise of useful resource, the flexibility to acquire any requisite governmental approvals, acquiring regulatory permits for on-site work, importing items and equipment and employment permits, the accuracy of Mineral Reserve and Mineral Useful resource Estimates (together with, however not restricted to, ore tonnage and ore grade estimates), the worth of silver, the worth of gold, alternate charges, gas and vitality prices, future financial situations, anticipated future estimates of free money circulation, and programs of motion. Aya cautions you to not place undue reliance upon any such forward-looking statements.

Article content material

The dangers and uncertainties which will have an effect on forward-looking statements embrace, amongst others: the inherent dangers concerned in exploration and growth of mineral properties, together with authorities approvals and allowing, modifications in financial situations, modifications within the worldwide worth of silver gold and different key inputs, modifications in mine plans (together with, however not restricted to, throughput and recoveries being affected by metallurgical traits) and different components, resembling venture execution delays, lots of that are past the management of Aya, in addition to different dangers and uncertainties that are extra absolutely described in Aya’s 2023 Annual Data Type dated March 28, 2024, and in different filings of Aya with securities and regulatory authorities which can be found on SEDAR+ at www.sedarplus.ca. Aya doesn’t undertake any obligation to replace forward-looking statements ought to assumptions associated to those plans, estimates, projections, beliefs, and opinions change. Nothing on this doc must be construed as both a proposal to promote or a solicitation to purchase or promote Aya securities. All references to Aya embrace its subsidiaries except the context requires in any other case.

Article content material