Aya Gold & Silver Inc. · TSX:AYA
Aya Gold & Silver — Investor Presentation (November 2023)
33 slides from Aya Gold & Silver's investor presentation, Nov 20, 2023
Slide 1: Building the Largest Pure-Play Silver Producer Globally
Building the Largest Pure-Play Silver Producer Globally Investor Presentation November 2023 TSX: AYA | OTCQX: AYASF TSX: AYA; OTCQX: AYASF
Slide 2: Forward-Looking Statement
Forward-Looking Statement The Zgounder Expansion Feasibility Study (“FS”) is based on a technical report entitled “NI43-101 produce new resources estimates, and exploration results, including deposit size, quantities, grades TECHNICAL REPORT – FEASIBILITY STUDY ZGOUNDER EXPANSION PROJECT”, originall
Slide 3: Agenda: Aya, Zgounder, Exploration, Catalysts
AYA 1 Aya 2 Zgounder Silver Mine 3 Exploration 4 Catalysts TSX: AYA; TSX:OTCQX: AYA; OTCQX: AYASFAYASF 3
Slide 4: Aya – Proven Management Team
Aya – Proven Management Team Benoit La Salle, FCPA, MBA Mustapha Elouafi Ugo Landry-Tolszczuk Elias Elias President & CEO, Director President-Managing Director, Chief Financial Officer Chief Legal and Morocco Sustainability Officer Benoit has over 25 years of experience as a corporate Mustapha is an
Slide 5: Aya – Board of Directors
Aya – Board of Directors Benoit La Salle, FCPA, MBA Robert Taub Natacha Garoute, CPA, CA Yves Grou, CPA, CA President & CEO, Director Chair Director Director Benoit has over 25 years of experience as a corporate Robert is an entrepreneur in life sciences and investor in Natacha has more than 20 year
Slide 6: Aya – Our History
Aya – Our History Zgounder flotation +700 tpd mill capacity Imiter bis, Amizmiz, plant commissioned achieved at Zgounder Azegour projects brining production Construction start for Zgounder acquired Boumadine acquired capacity to 700tpd expansion 2009–2011 2013 2019 2022 2008 2012 2014 2020 Maya list
Slide 7: Aya – The Only TSX-Listed Pure Silver Producer
Aya – The Only TSX-Listed Pure Silver Producer 100% 80% 60% Other Gold Silver 40% 20% 0% Aya Endeavour Excellon *GoGold Silvercorp *SilverCrest *MAG Fresnillo First Hecla Americas Coeur Pan Fortuna SSR Mining Majestic American Source: Desjardins Capital Markets, company reports. *Developer, for whic
Slide 8: Morocco – Top Mining Jurisdiction
Morocco – Top Mining Jurisdiction By the numbers Phosphate – 1st producer in Africa, 4th worldwide 37M 1st Barite – 1st producer in Africa, 3rd worldwide inhabitants silver producer in Africa; 15th worldwide Fluorite – 2nd producer in Africa, 7th worldwide 2022 silver production (6 million oz) Cobal
Slide 9: Morocco – Developing the Mining Sector
Morocco – Developing the Mining Sector Mainly Moroccan miners: 2016 Baseline Mining Code Zgounder OCP, SOMIFER, SAMINE, SACEM, SMI, CTT & ONA Royalty 3% of sales First modern mines (now Managem) Revision of mining code 1920 1951–1995 2016 Tax rate* 25% State free-carried interest Nil Foreign ownersh
Slide 10: Our Assets – Morocco-Focused, Quality Growth Portfolio
Our Assets – Morocco-Focused, Quality Growth Portfolio Zgounder Silver Mine – Cornerstone of Aya’s Growth Story ▪ 2022 production of 1.88M oz ▪ 2023 guidance of 1.7M – 1.9M oz ▪ Significant increase in 2024 production due to expansion RABAT ▪ 96M oz M&I resources at 306 g/t Ag CASABLANCA Development
Slide 11: Capital Structure – Robust Balance Sheet
Capital Structure – Robust Balance Sheet Institutional Shareholder Breakdown1 60% USA 15% Board & Management 16% Europe 32% Family offices2 21% Canada 33% Institutional 3% Australia & ROW 20% Retail 1 Based on 42.5M shares institutional ownership 2 Affiliated with Board and insiders Exchanges – TSX:
Slide 12: Zgounder – Strong Execution and Operational Efficiencies
Zgounder – Strong Execution and Operational Efficiencies Solid operational standard reached in 2021 by: 700,000 89.9% 100 ▪ Switch to cut-and-fill mining method ▪ Implementation of operating best practices 82.8% 87.9% 86.2% 87.1 87.3 600,000 86.6 90 80.4% ▪ Capital infrastructure & equipment 78.9% 8
Slide 13: Zgounder – Industry-Low Discovery Costs
Zgounder – Industry-Low Discovery Costs ▪ Resources as a unit of total shares outstanding up >630% to 96.1M oz since 2020 In Moz Ag 96.1M oz Proven & probable reserves ▪ Industry-low discovery cost of $0.18 with only 25.2 M&I resources $15.3M spent All mineral resources are exclusive of mineral rese
Slide 14: Zgounder – Top Silver Intercepts Globally
Zgounder – Top Silver Intercepts Globally Los Ricos, 1 118,399 Zgounder, 2 85,450 Elizabeth Hill, 3 80,762 Zgounder reported 3 out of the top 10 and 15 Filo del Sol, 4 La Colorada, 5 69,147 65,930 77,683 out of the top 50 global silver intersections Breccia, 6 Diablillos, 7 64,287 Diablillos, 8 61,2
Slide 15: Zgounder – Mineral Reserves
Zgounder – Mineral Reserves Silver Reserves On a 100% basis. M&I resources shown inclusive of reserves. ¹ ▪ The reserves include drilling carried out between January and September 2021 Tonnes Ag Content (K) (G/T) (Ag K Oz) ▪ Reserves include 29% open-pit and 71% Proven Reserves 2,100 288 28,748 unde
Slide 16: Zgounder – Expansion Feasibility Study Highlights
Zgounder – Expansion Feasibility Study Highlights 71Moz $373M LOM Production Profile* P&P reserves Post-tax NAV5% Total Ag oz produced Ag grade processed ($22/oz) 10,000,000 350 9,000,000 300 $139.4M $9.58 8,000,000 Growth capex AISC (LOM) 250 Ag grade (g/t) 7,000,000 Ag oz 6,000,000 200 5,000,000 1
Slide 17: TSX: AYA; OTCQX: AYASF
Expanded operations will combine: ▪ 2,000 tpd Merrill-Crowe plant and 700 tpd flotation-cyanidation plant ▪ Open-pit & UG operations TSX: AYA; OTCQX: AYASF
Slide 18: Construction of Zgounder New Processing Plant
Emergency _ process water pond ~~Merrill-Crowe & ge aes ee ay silverroom-platforms ~~ Ss ~Flectrica fee : LA substation CONSTRUCTION OF ZGOUNDER NEW PROCESSING PLANT | OCTOBER 2023
Slide 19: Zgounder – Q3-2023 Expansion Highlights
Zgounder –Q3-2023 Expansion Highlights Tailings storage facility is near-complete Erection of leach tank steelwork began in Q3 TSX: AYA; OTCQX: AYASF 19
Slide 20: Zgounder – Expansion 60% Complete at Quarter-End and on Budget
Zgounder – Expansion 60% Complete at Quarter-End and on Budget 2022 2023 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Feasibility study (100%) FEED (100%) Long-lead purchasing (100%) EPC offer (100%) Detailed engineering (100%) Earth & civil works (90%) Construction (48%) Commissioning (0%) First silver
Slide 21: Aya – Achieving Sustainability Leadership
Aya – Achieving Sustainability Leadership Low-Carbon Strategy and Environmental Commitment Priorities: water, tailings management and clean energy. Near-zero Scope 2 emissions in 2025. 61% Ongoing 20-year 88%¹ Water Global Industry Standard green PPA Reduction in Scope 2 recycled on Tailings Managem
Slide 22: Aya – High Governance Standards
Aya – High Governance Standards Achieved in the last three years since arrival of new management team Increased transparency of ESG disclosure in support of the below frameworks 37% 87% 15% Women Director Board & management holdings board members independence (As of September 1, 2023) Alignment of e
Slide 23: Exploration
Exploration 1 Aya 2 Zgounder Silver Mine 3 Exploration 4 Catalysts TSX: AYA; TSX:OTCQX: AYA; OTCQX: AYASFAYASF 23
Slide 24: Aya – 2023 Drilling Program Increased to 119,000m
Aya – 2023 Drilling Program Increased to 119,000m Growth Pipeline Includes Five Priority Projects Zgounder Silver Mine ▪ 9,066m completed of 29,000m budgeted ▪ Follow up early 2023 results east of deposit and RC results in the southern part of the open pit RABAT Boumadine (Development) CASABLANCA ▪
Slide 25: Zgounder – Near-Mine Drill Program (Ag) One-Third Complete
Zgounder – Near-Mine Drill Program (Ag) One-Third Complete 9,066m completed of the 29,000m budgeted for near-mine drilling Recent Drill Result Highlights1 ▪ 2,812 g/t Ag over 8.0m ▪ 1,242 g/t Ag over 9.0m, including 2,052 g/t Ag over 5.0m ▪ 2,227 g/t Ag over 7.0m, including 6,768 g/t Ag over 2.0m ▪
Slide 26: Zgounder Regional – Testing Possible East Extension & South Mirror
Zgounder Regional – Testing Possible East Extension & South Mirror ▪ 3,000m drilling to test drill conceptual target under the Neocene cover (Tuffs) east of the granophyre ▪ Potential continuation of the Zgounder deposit (volcano-sediments). ▪ 3,000m to test drill southern contact of the rhyolite (n
Slide 27: Zgounder Regional – Expanded Drill Program and Land Package
Zgounder Regional –Expanded Drill Program and Land Package (Ag, Au, Cu) Expanded 2023 Drill Program of 14,000m ▪ 8,820m completed YTD of program including 830m on Tourchkal ▪ H2-2023 drilling is testing the potential continuation of the Zgounder deposit and a new target in Tourchkal ▪ Acquisition of
Slide 28: Boumadine – Accelerated Development (Au, Ag, Pb, Zn, Cu)
Boumadine – Accelerated Development (Au, Ag, Pb, Zn, Cu) Proving up Mineralization through Drilling¹ ▪ Expanded 76,000m drill program now ~80% complete ▪ 4.2km strike length of Main Trend open at both ends (6km hydrothermal system) ▪ Definition of a new high-grade mineralized stockwork area that exp
Slide 29: Boumadine – Main Zone Open in All Directions, Along Strike and At-Depth
Boumadine – Main Zone Open in All Directions, Along Strike and At-Depth Drilling Highlights1 ▪ 1,039 g/t AgEq over 23.5m (6.41 g/t Au, 116 g/t Ag, 4.7% Zn, 0.6% Pb and 0.4% Cu) ▪ 474 g/t AgEq over 30.1m (2.57 g/t Au, 85 g/t Ag, 2.2% Zn, 0.6% Pb and 0.1% Cu) ▪ 1,410 g/t AgEq over 9.3m (12.34 g/t Au,
Slide 30: Boumadine – Longitudinal View of Main Zone and Simplified Geology
Boumadine –Longitudional View of Main Zone and Simplified Geology Longitudional Section ▪ The longitudional section shows the results of the Boumadine Main Zone along the deposit, defining ore shoots shallowly dipping toward south, in both the Central and South Zones. ¹ Refer to Aya Gold & Silver’s
Slide 31: Tirzzit – Historical Copper Mine & Potential New District (Cu, Ag)
Tirzzit – Historical Copper Mine & Potential New District (Cu, Ag) Collection of 7 permits including the historical Tirzzit Copper Mine on Morocco’s Anti-Atlas range, 25 km south of Zgounder Through the June 2023 transaction, Aya acquires: ▪ Historical copper mine offering near-surface silver and co
Slide 32: Aya – Catalysts
Aya – Catalysts ▪ Zgounder & Boumadine drill program results ▪ Boumadine resource estimate ▪ Zgounder Silver Mine expansion ▪ Achieve 2023 silver production and cost guidance ▪ Achieve 2023 ESG milestones of EBRD-CTF loan agreement TSX: AYA; OTCQX: AYASF 32
Slide 33: TSX: AYA; OTCQX: AYASF
1320 Graham, suite 132 Ville Mont-Royal, QC H3P 3C8 Benoit La Salle : Benoit.Lasalle@ayagoldsilver.com Alex Ball : Alex.Ball@ayagoldsilver.com www.ayagoldsilver.com | info@ayagoldsilver.com TSX: AYA | OTCQX: AYASF TSX: AYA; OTCQX: AYASF
Aya Gold & Silver — Investor Presentation (November 2023) on 6ix