Aya Gold & Silver Identifies New Parallel Structure at Boumadine and Reports High-Grade Exploration Results

Additional Boumadine Mining Licence Secured

MONTREAL, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to report new high-grade drill results and the identification of a new parallel structure approximately 500 metres (“m”) east of the Boumadine Project (“Boumadine” or the “Project”) from its ongoing drill program in the Kingdom of Morocco. These results confirm strong high-grade continuity along the Boumadine Main Trend and support the potential for continued resource growth and scale.

Highlights¹

Boumadine Main Trend (5.4km)

• New parallel structure identified 500m East of the Boumadine Main Trend:

  • BOU-DD25-707 intercepted 115 g/t AgEq over 2.5m (1.15 g/t Au, 18g/t Ag, 0.0% Zn, and 0.1% Cu), and 331 g/t AgEq over 0.8m (3.68 g/t Au, 27 g/t Ag, 0.1% Zn, 0.1% Pb and 0.2% Cu) both intervals are part of a wider massive sulfide interval.
    

  • The newly identified parallel structure is significant due to the width of massive sulfide content, the presence of mineralization and distance from the Main Trend, opening further exploration potential. Follow up drilling toward surface and laterally will assess the potential impact on resources.

• Multiple additional high-grade intercepts:

  • BOU-DD25-728 intercepted 255 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 11.9m (1.55 g/t Au, 83 g/t silver (“Ag”), 1.7% zinc (“Zn”), 0.5% lead (“Pb”) and 0.1% copper (“Cu”), including 337 g/t AgEq over 7.9m (2.07 g/t Au, 112 g/t Ag, 2.1% Zn, 0.6% Pb and 0.1% Cu).

  • BOU-DD25-742 intercepted 166 g/t AgEq over 17.1m (1.34 g/t Au, 25 g/t Ag, 1.2% Zn and 0.5% Pb), including 301 g/t AgEq over 3.5m (2.80 g/t Au, 35 g/t Ag, 1.8% Zn and 0.3% Pb).

  • BOU-MP25-092 intercepted 296 g/t AgEq over 9.5m (0.6 g/t Au, 113 g/t Ag, 4.6% Zn and 2.1% Pb).

  • BOU-DD25-734 intercepted 446 g/t AgEq over 6.0m (2.72 g/t Au, 144 g/t Ag, 3.3% Zn, 0.2% Pb and 0.3% Cu).

• Additional mineralized intercepts at Asirem:

  • BOU-DD25-653 intercepted 1.34 g/t Au over 1.2m and BOU-DD25-645 intercepted 1.28 g/t Au over 0.9m; confirming the potential of this >8 km structural corridor.

• Exploration Update:

  • 28,904m drilled at Boumadine year to date.

  • New mining license added with an area of 14.2 km².
    
    

“These results — including a new southern parallel structure and mineralization more than 500 metres from any known zone — reinforce that the resource potential continues to grow. With ten rigs active, we’re fast-tracking development and the 2026–2027 infill program, with two more rigs expected in March,” said Benoit La Salle, President & CEO.

Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)

   *  True width remains undetermined at this stage; all values are uncut.

1. Ag equivalent is based on a silver price of US$30/oz with a process recovery of 89%, a gold price of US$2,800/oz with a process recovery of 85%, a zinc price of US$1.20/lb with a process recovery of 72%, a lead price of US$1.00/lb with a process recovery of 85%, and a copper price of US$4.00/lb with a process recovery of 75% resulting in the following ratios: 1g/t Au: 79.3g/t Ag; 1% Cu: 68.3 g/t Ag; 1% Pb: 19.4 g/t Ag; and 1% Zn: 19.7 g/t Ag
   
   

Figure 1: Boumadine Mining Licence Surface Plan with Magnetic Data (Residual Total Field) and 2026 Drill Holes

Figure 2: Boumadine Property Surface Plan with New Permit

2025 Exploration Results

This year, 81diamond drill holes (“DDH”), totaling 28,904m have been completed at Boumadine (Figure 1 and Appendix 2). Drilling was done on strike along the Main Trend, Tizi and Imariren. Most results have been received for drill holes up to BOU-DD25-750 (Table 1, Figure 3, Figure 4 and Appendix 1).

Today’s results confirm the high-grade nature and continuity of the Boumadine Main Trend, which remains open in all directions. In addition, hole BOU-DD25-707 to the south identified a new mineralized parallel structure 500m east of the Main Trend (Figure 5). This new structure is included in a wide massive sulfide vein and is very similar  to mineralization within the Boumadine Main Trend. The zone was intersected at depth, 750m below surface, and requires follow-up drilling upward and laterally in order to fully assess its potential.

The Asirem structure also returned additional high-grade mineralized intercepts, including BOU-DD25-645 and BOU-DD25-653 (figure 6), which confirm the potential for resource growth within an 8km target at surface. Follow up drilling on Asirem is also planned this year.

Mineralization within this area measures up to 4m wide (locally reaching over a 10m width) and is N340-oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins (>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite. Tizi and Imariren share the same characteristics except for their N000 orientation.

Figure 3 – Surface Plan of Boumadine North, Imariren and Tizi Zones with New DDH Results

Figure 4 – Surface Plan of Boumadine South Zone with New DDH Results

Figure 5 – Section 6100N with Drill Hole BOU-DD25-707 in the South Area of Boumadine with New Mineralized Structure

Figure 6 – Regional Geology with Asirem results

Next Steps

Infill drilling, following the positive 2025 PEA, will be ongoing for the next 24 months with a drill program of approximately 360,000m.

Significant potential exists to expand the Boumadine Main Trend (currently 5.4 km), the Tizi Zone (2.0 km) and the Imariren Zone (1.2 km), with all three trends open in all directions. Follow-up drilling is also planned on the 8 km Asirem trend.

Most drilling will continue to focus on the Main Trend, Imariren and Tizi to extend known mineralization along strike and at depth, while infilling key areas to advance the Project toward a Feasibility Study. The balance of the 2026 program (~20,000 m) will target Asirem follow-up and greenfield exploration, testing geological hypotheses and targets generated over the past four years. Ongoing geological work will guide additional development priorities.

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core and RC chips. For core drilling, all individual samples represent approximately one metre in length of core, which is halved. Half of the core is kept on site for reference, and its counterpart is sent for preparation and assaying to African Laboratory for Mining and Environment (“Afrilab”) in Marrakech, Morocco. For drilling using RC, all individual samples represent 1.0m in length and a representative portion is kept for every metre in some chip trays stored on site. A split samples representing 1/16th, ranging from 2 to 4 kilogram is sent for preparation and assaying to African Laboratory for Mining and Environment (“Afrilab”) in Marrakech, Morocco.

All samples are analyzed for silver, copper, iron, lead, zinc, tin, and molybdenum using Aqua regia and finished by atomic absorption spectroscopy (“AAS”). Samples grading above 200 g/t Ag are reanalyzed using fire assaying. Gold is assayed by fire assaying. Standards of different grades and blanks were inserted every 20 samples in addition to the standards, blanks and pulp duplicate inserted by Afrilab.

Qualified Person

The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, P. Geo, Vice-President Exploration, Qualified Person, for accuracy and compliance with National Instrument 43-101.

About Aya Gold & Silver Inc.

Aya Gold & Silver is a Canadian precious metals mining company anchored in Morocco and active across the full mining value chain. The Corporation has established an exploration track record through a systematic, technology-led, data-driven approach and is focused on expanding its resource base and land package along the Anti-Atlas Fault — one of Africa’s most geologically rich, underexplored and mining-friendly regions.

Aya operates Zgounder, a rare, silver-only mine, producing silver doré from its newly expanded processing facility. Aya’s growth pipeline includes the Boumadine polymetallic project, where feasibility study work is underway. The project hosts a substantial mineral resource, an extensive mineralized footprint, and significant potential for further discovery.

Led by a proven team of mining professionals, Aya is guided by a vision of responsible mining and is committed to delivering sustainable value for shareholders, employees and host communities.

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

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Forward-Looking Statements

This press release contains “forward-looking statements” or “forward looking information” within the meaning of applicable securities laws and other statements that are not historical facts. Forward-looking statements are included to provide information about management’s current expectations, estimates and projections regarding Aya Gold & Silver Inc.’s (the “Corporation”) future growth and business prospects (including the timing and development of deposits and the success of exploration activities) and other opportunities as of the date of this press release. All statements, other than statements of historical fact included in this press release, regarding the Corporation’s strategy, future operations, technical assessments, prospects, plans and objectives of management are forward-looking statements that involve risks and uncertainties. Wherever possible, words such as “aim”, “anticipate”, “assume”, “believe”, “estimate”, “expect”, “goal”, “intend”, “objective”, “plan”, “potential”, “strategy”, “target”, and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify such forward-looking information. Specific forward looking statements in this press release include, but are not limited to, statements and information with respect to the exploration and resource potential of the Boumadine project, including of the new parallel structure identified 500m East of the Boumadine Main Trend and of the additional mineralized intercepts at Asirem; the anticipated strategic benefits of the newly identified structure on the Corporation’s overall development plans; the Corporation’s future drilling program; the expected scope, pace, placement, focus, and completion timing of drilling activities; the anticipated completion of the acquisition of the new Boumadine mining licence; the expected impact of geological interpretations on mine planning, resource modelling, and operational priorities; and other assumptions and factors generally associated with the mining industry.

Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Corporation to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Corporation’s forward looking information is based include without limitation, the Corporation’s ability to timely receive any requisite approvals, permits or licences; the Corporation’s ability to complete the acquisition of the new Boumadine mining licence; the Corporation’s ability to import goods and machinery; the Corporation’s ability to engage and retain all necessary personnel in order to operate its business properly and without interruption; the accuracy and reliability of estimates, projections, forecasts, studies and assessments, including the mineral reserve and mineral resource estimates (including, but not limited to, ore tonnage and ore grade estimates); the Corporation’s ability to meet or achieve estimates, projections and forecasts; assumptions regarding development and exploration activities; the timing, extent, duration and economic viability of such explorations activities; the price of silver; the price of gold; exchange rates; taxation levels; fuel and energy costs; future economic conditions; the Corporation’s ability to meet current and future obligations; the Corporation’s ability to obtain timely financing on reasonable terms when required; anticipated future estimates of free cash flow; estimate future production; the current and future social, economic and political conditions and environment in which the Corporation operates; and other assumptions and factors generally associated with the mining industry.

Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking statements are also subject to risks and uncertainties facing the Corporation’s business, any of which could have a material adverse effect on the Corporation’s business, financial condition, results of operations and growth prospects. Some of the risks the Corporation faces and the uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including (1) there being no significant disruptions affecting the operations of the Corporation whether due to artisanal miners, access to water, extreme weather events and other or related natural disasters, labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; (2) permitting, development, operations and production from the Project being consistent with the Corporation’s expectations; (3) political and legal developments in the Kingdom of Morocco being consistent with its current expectations; (4) the exchange rate between the U.S. dollar and the Moroccan Dirham being approximately consistent with current levels; (5) certain price assumptions for gold and silver; (6) prices for diesel, process reagents, fuel oil, electricity and other key supplies being approximately consistent with current levels; (7) production and cost of sales forecasts meeting expectations; (8) the accuracy of the current mineral resource estimates of the Corporation; (9) labour and materials costs increasing on a basis consistent with the Corporation’s current expectations; and (10) asset impairment (or reversal) potential, being consistent with the Corporation’s current expectations.

In addition, readers are directed to carefully review the detailed risk discussion in the Corporation’s Annual Information Form and Management’s Discussion & Analysis for the year ended December 31, 2024, filed on SEDAR+, which discussions are incorporated by reference in this press release, for a fuller understanding of the risks and uncertainties that affect the Corporation’s business and operations.

Although the Corporation believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties, and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.

Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Corporation’s business plans, financial performance and condition and may not be appropriate for other purposes.

The forward-looking statements contained herein are made only as of the date hereof. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Corporation qualifies all of its forward-looking statements by these cautionary statements.

Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise.

Appendix 1 - Full Drill Results from Boumadine (core lengths)