Montreal, Quebec, August 12, 2022 - Aya Gold & Silver Inc. (TSX: AYA, OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to report interim financial and operational results for the second quarter ended June 30, 2022. All amounts are in US dollars unless otherwise stated.



Highlights

Record operations in terms of silver ounces produced, mined, and recovered
Produced 459,061 ounces (“oz”) of silver (“Ag”), a 5% increase from Q2-2021 and a 49% increase from the previous quarter
Mined 63,817 tonnes (“t”) (701 tons per day (“tpd”)) during the quarter including monthly record production of 809 tpd in June 2022
Combined mill recovery of 87.9%, a 7% increase from Q2-2021
Silver sales of 439,080 oz, a 5% increase from Q2-2021
Revenue of $8.6 million, a 13% decrease from Q2-2021
Operating cash flow for the period of $1.1 million, compared with $5.5 million in Q2-2021
Cash costs per silver ounce sold (1) of $11.35 compared with $11.61 in Q2-2021
Successful exploration program at Zgounder:
Extended eastern zone and further defined the upper underground mine workings
Returned Zgounder’s best-ever intersection in terms of grade-thickness
Completed geophysical airborne survey on Zgounder Regional together with mapping and sampling
Exploration of rich regional portfolio located along the South Atlas Fault:
Drilled 4,210 meters (“m”) at Boumadine following completion of geophysical airborne survey
Conducted a 624m diamond drill hole (“DDH”) program on Imiter bis with full assay results expected in Q3-2022
Advanced Zgounder production expansion on time and on budget:
Completed 1,130m of lateral development work
Delivered the front-end engineering design (“FEED”) on schedule
Received quotations for 21 mechanical equipment packages, including all key long-lead items
Received over 90% (in value) of the mechanical equipment procurement offers, which re-confirm the process plant CAPEX and OPEX estimated in the feasibility study (“FS”)
Selected a supplier for the ball mill package
Community initiatives with long-life impact
Began supporting the local saffron-growing industry through plans for a garden nursery and educational farm
Funded and conducted two mobile health clinics benefiting adults and children
Increased board diversity through appointment of two independent directors from the Canadian mining and European banking sectors, respectively
Robust financial position with $67.9 million of cash and restricted cash


“Congratulations to the operations team for delivering a standout second quarter with record-setting production, which benefited from strong recoveries and best-ever throughput. As expected, Zgounder saw meaningful improvement in grade as we accessed richer ore and achieved greater mining capacity, positioning us well to achieve our full-year production guidance. We enjoyed additional exploration success this quarter with further resource delineation at Zgounder and the completion of airborne geophysical surveys on Zgounder Regional, Boumadine and Imiter bis. Considerable progress was also made on the Zgounder Expansion Project with the on-schedule delivery of the FEED, the first of our construction milestones,” said Benoit La Salle, President and CEO.

“Last, but not least, I'm very proud of the progress we are making and the impact that we are having with our sustainability goals and initiatives. Specifically, we have increased board diversity, launched our first larger-scale community project, and demonstrated leadership in regard to local employment and procurement."

Q2-2022 Operational and Financial Highlights
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https://ayagoldsilver.com/press-release/aya-gold-silver-reports-record-quarterly-production-of-459061-ounces/