Aya Gold & Silver Inc. · TSX:AYA
Aya Gold & Silver — Q2 2025 Earnings Presentation
16 slides from Aya Gold & Silver's earnings presentation, Aug 14, 2025
Slide 1: Unlocking silver growth in Morocco
Unlocking silver growth in Morocco Q2-2025 EARNINGS CONFERENCE CALL AUGUST 14, 2025 TSX: AYA | OTCQX: AYASF 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflects management’s expectations regarding Aya’s future growth and business prospects (includi
Slide 3: Forward-Looking Statements / Non-GAAP Financial Measures
Forward-Looking Statements Non-GAAP Financial Measures Mineral resources are reported exclusive of mineral reserves and as such the mineral resources do not have The Company uses non-GAAP key performance metrics to monitor and assess the operational performance of each demonstrated economic viabilit
Slide 4: Q2-2025 Highlights / Delivering across all key pillars of our strategy
Q2-2025 Highlights / Delivering across all key pillars of our strategy Production ESG 1,042Koz • Solid operational KPIs • Published our sustainability report SILVER OZ PRODUCED IN Q2-2025 • Continued progress as we ramp • Focusing on H&S up and over 1Moz silver • Strengthening our community produced
Slide 5: Zgounder Silver Mine / Solid Operational Execution
Zgounder Silver Mine / Solid Operational Execution ORE PROCESSED AND MILLING RATE MILL RECOVERY RATE MILL AVAILABILITY RATE 3.0 2.8 98.0% 86.5% 91.0% 82.4% 273 0.9 250 Early 81 Ramp-Up Q2-24 Q1-25 Ore processed (K tonnes) Q2-25 Milling (in Ktpd) Q1-25 Q2-25 Q1-25 Q2-25 Execution Focused and Ore proc
Slide 6: Zgounder Silver Mine / Addressing Mining Processes
Zgounder Silver Mine / Addressing Mining Processes ORE MINED (In K tonnes) AVERAGE SILVER GRADE MINED (g/t Ag) 241 195 176 151 138 114 Q2-24 Q1-25 Q2-25 Q2-24 Q1-25 Q2-25 Mining ramp-up in line with plan Ramp-up impacting grade • Mined ore + 112% YoY • Not a metallurgical issue • Mined ore + 24% QoQ
Slide 7: Q2-2025 / Financial Highlights
Q2-2025 / Financial Highlights AVG. NET REALIZED SILVER PRICE PER OZ AND CASH COST* PER OZ REVENUES ($M) 38.6 $33.86 33.8 Record Revenues $31.87 +182% YoY 13.7 + 14% QoQ $26.20 Driven by ramp-up and higher Q2-24 Q1-25 Q2-25 silver price/oz $21.26 $17.85 $18.93 NET INCOME ($M) 8.6 Ramp-up phase 6.8 6
Slide 8: Strong Balance Sheet / Provides Flexibility
Strong Balance Sheet / Provides Flexibility Key Highlights Q2-25 Cash from operations Capex & exploration 13 8 $114M In cash at quarter end Cash position 114 Undrawn facility* 25 Strengthened Q2-25 Highlights Balance Sheet • Stronger cash from operations +41% vs YoY • Capex & exploration activities
Slide 9: Zgounder Silver Mine / Expanding Operations
Zgounder Silver Mine / Expanding Operations TSX: AYA | OTCQX: AYASF 9
Slide 10: 2025 Development and Exploration / Zgounder
2025 Development and Exploration / Zgounder Zgounder Silver Mine (10,000m-15,000m) • 4,704m drilled on near-mine targets, focusing west (7,619m YTD) • Drilling results outlined significant down-plunge extensions through thick high-grade interceptions and confirmed the continuity of high-grade minera
Slide 11: Zgounder (Ag) / Expanded Footprint
Zgounder (Ag) / Expanded Footprint • Acquired six new exploration permits north of the Zgounder footprint, expanding regional land position by ~12% to 452.7 km² * Refer to Aya’s June 24, 2025 news releases. TSX: AYA | OTCQX: AYASF 11
Slide 12: 2025 Development and Exploration / Boumadine
2025 Development and Exploration / Boumadine Boumadine (100,000m – 140,000m) • 33,510m of drilling completed (DDH an RC) / 79,716m YTD • Results from the Main Trend, Tizi, and Imariren zones confirmed mineralization continuity and extended known strike lengths • In addition, surface work identified
Slide 13: Boumadine (Au, Ag, Pb, Zn) / Expanded Footprint
Boumadine (Au, Ag, Pb, Zn) / Expanded Footprint • Expanded land position through the acquisition of four new licenses increasing the Boumadine land package to 314.5 km.² • Several new targets have been identified within these licenses, including mineralized structures returning up to 3.34 g/t gold a
Slide 14: 2025 Outlook / Committed to achieving our 2025 guidance
2025 Outlook / Committed to achieving our 2025 guidance 2025 Guidance • We expect milling throughput to remain Silver production (Moz Ag) 5.0 – 5.3 strong with recoveries continuing to Silver cash cost ($/oz) 15.00 – 17.50 exceed feasibility study rate Recovery (%) 84 – 88 • Silver cash cost per oun
Slide 15: 2025 Catalysts
2025 Catalysts Commenced 2025 drill program 2025 Commenced Boumadine PEA 2025 Reached 3,000tpd processing capacity at Zgounder 2025 ramping up to steady state Provide mid-year update on H2 2025 Boumadine metallurgy and PEA Publish updated Zgounder Q4 2025 technical report 15 TSX: AYA | OTCQX: AYASF
Slide 16: Questions?
Questions? 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 16