- Aya Gold & Silver Announces Approval to Acquire Algold Resources

Montreal, Quebec, March 5, 2021 - Aya Gold & Silver Inc. (TSX: AYA) (“Aya” or the “Corporation”) is pleased to announce that the Proposal made by Algold Resources Ltd. (“Algold”) to its creditors was approved today pursuant to which Aya will fund Algold’s Proposal and at closing, will become the sole shareholder of Algold (the “Transaction”).

Under the terms of the Investment Agreement, Aya will provide Algold with C$100,000 in cash and distribute C$2,400,000 in Aya shares to Algold current shareholders to fund Algold’s Proposal.

The Transaction is expected to close on or around April 30, 2021.

Further details regarding the Proposal can be found on the Trustee’s website at

https://www.raymondchabot.com/fr/entreprises/dossiers-publics/algold-resources-ltd/

About Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is a publicly traded Canadian company focused on the operation, exploration, acquisition, and development of silver and gold deposits. Aya is currently operating mining and milling facilities at its Zgounder Silver Mine, an 85%-15% joint venture between its subsidiary, ZMSM, and the Office National des Hydrocarbures et des Mines (“ONHYM”) of the Kingdom of Morocco.

Its mining portfolio also includes the Boumadine polymetallic deposit located in the Anti-Atlas Mountains of Eastern Morocco which is also a joint venture with ONHYM wherein Aya retains an 85% ownership. Additionally, the Corporation’s portfolio includes the Amizmiz and Azegour properties, both being 100% owned, with gold, tungsten, molybdenum, and copper occurrences in the center of a historical mining district of Morocco.

For additional information, please visit Aya’s website at www.ayagoldsilver.com