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Aya Gold & Silver Reports High-Grade Exploration Drill Results at Boumadine

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Aya Gold & Silver (TSX/NASDAQ: AYA) reported new high-grade exploration drill results from the Boumadine Project in Morocco. Key intercepts include 890 g/t AgEq over 51.5m and 746 g/t AgEq over 14.9m along the 5.4km Boumadine Main Trend.

Aya has drilled 69,209m year-to-date, completing 20% of its planned 360,000m 2026–2027 infill program. Drilling confirmed high-grade continuity, a new parallel structure 70m below the current pit shell, and open mineralized trends at Boumadine, Tizi, Imariren and Asirem.

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AI-generated analysis. Not financial advice.

Positive

  • High-grade intercept of 890 g/t AgEq over 51.5m in BOU-DD25-745
  • Multiple additional intercepts above 700 g/t AgEq over multi-metre intervals
  • 69,209m of drilling completed at Boumadine year-to-date across 160 holes
  • 20% of planned 360,000m 2026–2027 infill and expansion drilling already completed
  • New mineralized parallel structure intersected 70m below current resources pit shell
  • Main, Tizi, Imariren and Asirem trends remain open in all directions

Negative

  • None.

Key Figures

Best intercept: 890 g/t AgEq over 51.5m Higher-grade inclusion: 1,504 g/t AgEq over 19.3m High-grade intercept: 665 g/t AgEq over 20.4m +5 more
8 metrics
Best intercept 890 g/t AgEq over 51.5m Hole BOU-DD25-745 at Boumadine Main Trend
Higher-grade inclusion 1,504 g/t AgEq over 19.3m Within BOU-DD25-745 intercept
High-grade intercept 665 g/t AgEq over 20.4m Hole BOU-DD25-746
Strong silver interval 746 g/t AgEq over 14.9m Hole BOU-DD26-790
Drilling completed YTD 69,209m Boumadine drilling year-to-date 2026
Drill holes completed 160 DDH Boumadine program 2026 to date
Planned infill program 360,000m Boumadine infill drilling 2026–2027
Main Trend length 5.4 km Boumadine Main Trend strike length

Market Reality Check

Price: $18.47 Vol: Volume 150,580 is slightl...
normal vol
$18.47 Last Close
Volume Volume 150,580 is slightly below the 20-day average of 163,787 (relative volume 0.92). normal
Technical Price at 18.47 trades above the 200-day MA of 13.56 and about 16.05% below the 22.00 52-week high.

Peers on Argus

AYA gained 6.89% while key silver peers ANPMF (-9.3%), DSVSF (-8.11%), APGOF (-3...

AYA gained 6.89% while key silver peers ANPMF (-9.3%), DSVSF (-8.11%), APGOF (-3.24%), GSVRF (-3.59%), and SVRSF (-11.88%) moved lower, indicating a stock-specific reaction to the Boumadine results rather than a sector-wide move.

Historical Context

1 past event · Latest: Apr 29 (Positive)
Pattern 1 events
Date Event Sentiment Move Catalyst
Apr 29 Sector macro update Positive -0.5% Article on global silver deficit and junior miners’ exploration and development progress.
Pattern Detected

Limited history shows a slight negative reaction (-0.52%) to broadly positive sector news, while today’s strong company-specific results coincide with a solid gain.

Recent Company History

On Apr 29, 2026, Aya featured in an article about a sixth consecutive global silver deficit and junior miners’ exploration and development progress, including Boumadine feasibility work. Despite generally positive sector commentary, the stock slipped 0.52%. Today’s Boumadine drill results add company-specific, high-grade data to that earlier narrative of growth projects in Morocco, reinforcing the project’s potential scale and continuity along the Main Trend.

Market Pulse Summary

This announcement details high-grade Boumadine drill results, highlighted by 890 g/t AgEq over 51.5m...
Analysis

This announcement details high-grade Boumadine drill results, highlighted by 890 g/t AgEq over 51.5m and multiple additional strong intercepts along the 5.4 km Main Trend. With 69,209m drilled so far in 2026 and a planned 360,000m infill program through 2027, Aya is adding data ahead of an updated PEA and feasibility work. Investors may track future drill results, resource updates, and project studies to gauge how Boumadine’s scale and continuity develop.

Key Terms

silver equivalent, grams per tonne, preliminary economic assessment, atomic absorption spectroscopy, +2 more
6 terms
silver equivalent technical
"890 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 51.5 metres"
A "silver equivalent" converts the value or quantity of other metals (like gold, lead, or zinc) into the amount of silver they’re worth using current price ratios, so a mixed-metal output can be reported as a single silver total. For investors this makes it easy to compare and sum the value of different metals — like turning various fruits into the same currency of apples — helping assess production, revenue potential, and project scale without juggling multiple metal prices.
grams per tonne technical
"890 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 51.5 metres"
Grams per tonne (g/t) is a measure of how many grams of a precious or base metal are contained in one tonne of rock or ore. It tells investors the concentration of the metal: higher g/t means more metal packed into the same amount of material, which can lower production costs and raise the potential value of a mine. Think of it like the amount of sugar in a slice of cake—the more sugar per slice, the sweeter (and more valuable) each slice is.
preliminary economic assessment financial
"following last year’s positive preliminary economic assessment2, will be ongoing"
A preliminary economic assessment is an initial analysis that estimates the potential profitability and feasibility of a project or resource, such as a new mineral deposit or development venture. It provides a rough idea of costs, benefits, and risks, helping investors decide whether to pursue more detailed studies. This early evaluation is important because it offers a snapshot of whether the project is worth further investment and development.
atomic absorption spectroscopy technical
"using Aqua regia and finished by atomic absorption spectroscopy (“AAS”)."
A laboratory method that measures the amount of specific metals in a sample by turning the sample into free atoms and sensing how much light those atoms absorb; different metals absorb different colors of light, so the instrument can tell which and how much are present. Investors care because this test is widely used for quality control, environmental compliance and resource assays — results can affect production costs, regulatory fines, product safety and the value of mineral assets.
fire assaying technical
"Samples grading above 200 g/t Ag are reanalyzed using fire assaying."
A laboratory method for measuring how much precious metal, typically gold or silver, is present in a rock or ore sample by heating it to very high temperatures so the metal separates from the waste material and can be measured. Investors care because fire assaying is widely regarded as the most reliable way to verify a mine’s stated metal content; like weighing the gold after melting away the rock, it directly affects estimates of a deposit’s value and a company’s projected revenue.
national instrument 43-101 regulatory
"for accuracy and compliance with National Instrument 43-101."
National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

AI-generated analysis. Not financial advice.

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MONTREAL, May 20, 2026 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; NASDAQ: AYA) (“Aya” or the “Corporation”) is pleased to report new drill results at the Boumadine Project (“Boumadine” or the “Project”) from its ongoing infill 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)

  • Multiple additional high-grade intercepts:
    • BOU-DD25-745 intercepted 890 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 51.5 metres (“m”) (2.05 g/t gold (“Au”), 535 g/t silver (“Ag”), 3.8% zinc (“Zn”), and 5.9% lead (“Pb”), including 1,504 g/t AgEq over 19.3m (2.17 g/t Au, 1,032 g/t Ag, 5.3% Zn, and 9.8% Pb).
    • BOU-DD25-746 intercepted 665 g/t AgEq over 20.4m (1.63 g/t Au, 410 g/t Ag, 2.8% Zn and 3.4% Pb), including 1,276 g/t AgEq over 5.3m (3.98 g/t Au, 695g/t Ag, 6.1% Zn and 7.2% Pb) and 741 g/t AgEq over 14.5m (5.24 g/t Au, 204 g/t Ag, 3.9% Zn and 2.2% Pb), including 1,112 g/t AgEq over 8.4m (8.79 g/t Au, 276g/t Ag, 4.5% Zn and 2.3% Pb).
    • BOU-DD26-790 intercepted 746 g/t AgEq over 14.9m (0.62 g/t Au, 586 g/t Ag, 1.9% Zn and 3.7% Pb) including 1,227 g/t AgEq over 6.5m (1.05 g/t Au, 971g/t Ag, 1.9% Zn and 3.7% Pb).
    • BOU-DD26-786 intercepted 511 g/t AgEq over 9.4m (0.61 g/t Au, 399 g/t Ag, 1.4% Zn, and 1.0% Pb) including 1,928 g/t AgEq over 1.8m (1.54 g/t Au, 1,708g/t Ag, 2.5% Zn and 1.7% Pb).
    • BOU-DD26-792 intercepted 462 g/t AgEq over 8.1m (0.79 g/t Au, 237 g/t Ag, 3.0% Zn and 4.5% Pb) including 1,036 g/t AgEq over 2.2m (1.50 g/t Au, 563g/t Ag, 5.2% Zn and 10.4% Pb).
  • Exploration Update:
    • 69,209m drilled at Boumadine year-to-date.
    • 20% of the planned 360,000m infill drilling program for 2026-2027 completed

“These latest results continue to demonstrate the exceptional grade, width and scale potential emerging at Boumadine,” said Benoit La Salle, President & CEO. “Intercepts including 890 g/t AgEq over 51.5m in BOU-DD25-745 — our strongest drill intercept to date at Boumadine on a grade-thickness basis — located just 70m below the current pit shell, highlights the strong continuity of wide, high-grade mineralization along the 5.4-kilometre Boumadine Main Trend, which remains open in all directions. With over 69,000m drilled year-to-date and 11 rigs currently active, we are aggressively advancing the 2026–2027 infill and expansion program ahead of the updated PEA expected mid-year.”

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

DDH No.
FromToAuAgLength*CuPbZnMoAg Eq**
(m)(m)(g/t)(g/t)(m)(%)(%)(%)(g/t)(g/t)
BOU-DD25-745214.5266.02.0553551.50.05.93.830890
Including244.1263.42.171,03219.30.19.85.3211,504
BOU-DD25-74679.098.82.167719.80.01.43.1281345
Including83.385.210.92601.90.01.23.43731,024
BOU-DD25-746107.0121.55.2420414.50.02.23.932741
Including113.1121.58.792768.40.02.34.5271,112
BOU-DD25-746293.0313.41.6341020.40.13.42.834665
Including298.0303.01.658485.00.15.73.1611,156
Including306.8312.13.986955.30.17.26.1281,276
BOU-DD25-754348.8355.80.401507.00.01.02.1734257
BOU-DD26-759255266.00.42216110.11.31.921317
Including255.0258.11.165523.10.01.82.943739
BOU-DD26-759336.4342.60.583026.20.01.63.8239461
Including336.4339.90.804473.50.02.15.0238657
BOU-DD26-766193.4198.20.891674.80.00.827293
BOU-DD26-767273.92810.38857.101.23.768215
BOU-DD26-767373.2381.50.721918.3021.9221328
Including374.2376.90.884672.70.05.12.7618700
BOU-DD26-773253.0255.61.185162.60.02.32.848712
BOU-DD26-775323.5335.50.4417212.00.01.02.0341272
Including324.4326.21.766621.80.02.64.71,032966
BOU-DD26-775338.1346.30.761848.20.01.51.71,819338
Including338.9341.41.444282.50.03.83.92,736737
BOU-DD26-775400.0409.50.762169.50.02.74.6507429
Including401.4407.40.942696.00.03.65.6639534
BOU-DD26-777501.2513.00.539411.80.01.33.0312226
BOU-DD26-782184.4186.31.924781.90.22.46.674820
BOU-DD26-783274.0289.81.1019815.80.12.22.61,222405
Including283.8287.81.754194.00.24.74.53,202805
BOU-DD26-786403.2412.60.613999.40.01.01.4922511
Including403.2405.01.541,7081.80.01.72.56911,928
BOU-DD26-786459.2462.81.381953.60.15.13.593481
Including459.2461.02.383551.80.19.95.0127845
BOU-DD26-790140.5155.40.6258614.90.03.71.912746
Including148.3154.81.059716.50.06.72.1161,227
BOU-DD26-792297.0305.10.792378.10.04.53.0835462
Including300.9303.11.505632.20.010.45.22,8911,036
BOU-DD26-796368.4373.10.632314.70.03.02.357387
BOU-DD26-796378.0384.10.201176.10.12.62.40236
BOU-DD26-799271.5276.41.052104.90.32.64.560452

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

2026 Exploration Results

This year, 160 diamond drill holes (“DDH”), totaling 69,209m have been completed at Boumadine (Figure 1 and Appendix 2). Drilling was done on strike along the Main Trend, Tizi and Imariren. All results have been received for drill holes up to BOU-DD25-800 (Table 1, Figure 2, 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-DD25-745 to the south intersected a new mineralized parallel structure 70m bellow the current resources pit shell (Figure 3). This new structure has the potential to increase both the resources and the depth of the open-pit and will require follow-up drilling upward and laterally to fully assess its potential.

Mineralization within the Boumadine Main Trend 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 2 – Surface Plan of Boumadine South Zone with New DDH Results

Figure 2 – Surface Plan of Boumadine South Zone with New DDH Results

Figure 3 – Section 6575N with Drill Hole BOU-DD25-745 in the South Area of Boumadine with Resources Pit Shell

Figure 3 – Section 6575N with Drill Hole BOU-DD25-745 in the South Area of Boumadine with Resources Pit Shell

Next Steps

Infill drilling, following last year’s positive preliminary economic assessment2, will be ongoing for the next 24 months with a drill program of approximately 360,000m planned.

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 for later this year.

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 as part of advancing Feasibility Study. The balance of the 2026 program (~20,000m) 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 new processing facility. Aya’s growth pipeline includes the Boumadine polymetallic project, where feasibility study work is underway. The project hosts a sizable mineralized footprint, and 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.

Or contact

Benoit La Salle, FCPA, MBA
President & CEO
benoit.lasalle@ayagoldsilver.com		Alex Ball
VP, Corporate Development & IR
alex.ball@ayagoldsilver.com
  

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’s 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", “guidance”, “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. Forward-looking statements in this press release include, but are not limited to, statements with respect to: the Corporation's mining assets development and expansion potential, including scale potential and resource growth of the Boumadine project; the 2025 PEA for the Boumadine project; the timing for completion of the updated Boumadine preliminary economic assessment; the 2026-2027 Boumadine infill drilling and expansion program and timing thereto; the Corporation's mining assets development, drilling and exploration program; Boumadine's targets, objectives, priorities, and timing thereto; the timing for completion of the Boumadine feasibility study; the Corporation's strategy, objectives, targets, and projections with regards to its mining assets; the commodities price environment, including silver, gold, zinc, lead, and copper prices; process recoveries; allocation of the Corporation's capital; and the Corporation’s future operating results, economic performance, and objectives.

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, assumptions regarding development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the timing for completion of the updated Boumadine PEA and feasibility study; the Corporation’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; 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: Aya’s ability to execute plans relating to its Zgounder Project and Boumadine Project, including the timing thereof; risks and hazards associated with the business of mineral exploration, development, and mining, including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins, and flooding; risks related to Aya’s operations in Morocco; the speculative nature of mineral exploration and development; diminishing quantities or grades of mineral reserves as properties are mined; the inability to determine, with certainty, the production of metals and cost estimates, or the prices to be received before mineral reserves or mineral resources are actually mined; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); fluctuations in forward markets for silver and other commodities (such as natural gas, fuel, oil and electricity); availability of gas, fuel, and oil; restrictions on mining in the jurisdictions in which Aya operates; change of laws and regulations governing our operation, exploration, and development activities, including international laws and legal norms, such as those relating to Indigenous peoples and human rights; the Corporation’s ability to mitigate the risks pertaining to fund repatriation; expectations with respect to any future pandemics on our operations, and assumptions related thereto; Aya’s ability to attract and retain qualified employees and contractors; Aya’s ability to obtain and renew necessary permits and licenses; inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; Aya’s growth strategy; Aya’s ability to obtain and maintain insurance; occupational health and safety risks; adverse publicity risks; third party risks; disruptions to Aya’s business operations; Aya’s reliance on technology and information systems; litigation risks; interest and exchange rates risks; tax risks; unforeseen expenses; public health crises; climate change; weather disruptions; general economic conditions; commodity prices and exchange rate risks; gold and silver demand; volatility of share price; public company obligations; competition risk; policies and legislation; force majeure; climate risks; the effectiveness of our internal control over financial reporting; risks related to competition in the mining industry; changes in technology; asset impairment (or reversal) potential, being consistent with the Corporation’s current expectations; the inherent risks involved in exploration and development of mineral properties; and other risks described in the Corporation’s documents filed with Canadian and U.S. securities regulatory authorities.

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, 2025, filed on SEDAR+ and on EDGAR, 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.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/04076799-3cda-4533-b31e-d3ef241fd497
https://www.globenewswire.com/NewsRoom/AttachmentNg/b6536553-313b-4a28-b785-098008638f6e
https://www.globenewswire.com/NewsRoom/AttachmentNg/a7938716-ce78-46fb-bcb2-ef542963a747

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

DDH No.
FromToAuAgLength*CuPbZnMoAg Eq**
(m)(m)(g/t)(g/t)(m)(%)(%)(%)(g/t)(g/t)
BOU-DD25-623273.0274.00.11661.00.00.21.213105
BOU-DD25-627708.7711.03.2282.30.10.10.18272
BOU-DD25-627725.2726.01.26250.80.10.20.26139
BOU-DD25-6280.0201.0       NSR
BOU-DD25-6310.0477.0       NSR
BOU-DD25-6340.0552.0       NSR
BOU-DD25-6380.0234.0       NSR
BOU-DD25-6390.0291.0       NSR
BOU-DD25-64043.243.80.25440.60.50.60.017110
BOU-DD25-6410.0276.0       NSR
BOU-DD25-6430.0231.0       NSR
BOU-DD25-6620.0237.0       NSR
BOU-DD25-6630.0234.0       NSR
BOU-DD25-6690.0207.0       NSR
BOU-DD25-6780.01 011.0       NSR
BOU-DD25-693537.1539.00.67211.90.00.82.811148
BOU-DD25-697528.0531.51.41183.50.00.00.03134
BOU-DD25-697528.0529.42.23251.40.00.00.03206
BOU-DD25-697535.5536.50.6861.00.00.10.6374
BOU-DD25-698364.7365.20.7870.50.11.41.63133
BOU-DD25-7040.0609.0       NSR
BOU-DD25-705367.9373.03.08625.10.10.10.02313
Including367.9370.54.50762.60.10.10.01439
BOU-DD25-709277.0277.60.03690.60.20.90.57109
BOU-DD25-709280.2282.21.87682.00.10.82.08279
BOU-DD25-71026.728.43.65581.70.10.41.17387
BOU-DD25-71041.043.01.25162.00.00.41.29147
BOU-DD25-7150.0606.0       NSR
BOU-DD25-718188.0189.00.221131.00.02.94.94285
BOU-DD25-722274.0275.01.7781.00.00.10.37158
BOU-DD25-722501.5504.72.19373.20.10.10.56230
BOU-DD25-722506.4507.00.27480.60.10.82.781144
BOU-DD25-724288.8289.30.78160.50.00.30.5594
BOU-DD25-728176.3177.70.30291.40.00.20.9976
BOU-DD25-728182.4183.40.44281.00.00.71.38103
BOU-DD25-728189.4192.21.91642.80.10.41.19254
BOU-DD25-728196.6197.40.54200.80.00.71.512108
BOU-DD25-729278.0279.00.28611.00.00.82.41146
BOU-DD25-729288.7292.50.784913.80.62.32.751692
Including289.5291.61.298032.11.03.74.4641,134
BOU-DD25-731221.1222.00.038490.90.00.20.27859
BOU-DD25-732417.0418.80.03861.80.30.10.29115
BOU-DD25-740389.0390.00.52101.00.00.00.1854
BOU-DD25-745214.5266.02.0553551.50.05.93.830890
Including244.1263.42.171,03219.30.19.85.3211,504
BOU-DD25-74679.098.82.167719.80.01.43.1281345
Including83.385.210.92601.90.01.23.43731,024
BOU-DD25-746100.6102.40.32701.80.01.13.044177
BOU-DD25-746107.0121.55.2420414.50.02.23.932741
Including113.1121.58.792768.40.02.34.5271,112
BOU-DD25-746123.0130.00.21457.00.00.41.510100
BOU-DD25-746293.0313.41.6341020.40.13.42.834665
Including298.0303.01.658485.00.15.73.1611,156
Including306.8312.13.986955.30.17.26.1281,276
BOU-DD25-747444.9445.50.70430.60.00.20.515113
BOU-DD25-747478.0479.00.5881.00.00.20.2464
BOU-DD25-747589.0590.30.77221.30.00.21.73122
BOU-DD25-749353.0354.00.82201.00.00.31.111114
BOU-DD25-751384.7390.00.64325.30.01.11.532134
BOU-DD25-751401.0401.50.21340.50.00.31.51088
BOU-DD25-7520.0102.0       NSR
BOU-DD25-753322.6323.61.5461.00.00.00.630141
BOU-DD25-753340.2340.70.21520.50.00.31.1180101
BOU-DD25-754315.9317.60.261091.70.00.85.440252
BOU-DD25-754348.8355.80.401507.00.01.02.1734257
Including348.8350.11.404221.30.12.13.82,095688
BOU-DD25-754371.0372.00.13411.00.00.61.425395
BOU-DD25-755325.0326.00.29911.00.10.51.0376159
BOU-DD25-755410.6415.20.64154.60.00.10.12370
BOU-DD25-755420.2421.80.641431.60.02.21.774272
BOU-DD25-755434.6435.60.69211.00.00.00.01977
BOU-DD25-7560.0240.0       NSR
BOU-MP25-0300.0120.0       NSR
BOU-MP25-083151.0152.00.92181.00.00.10.01193
BOU-MP25-083503.2503.70.43310.50.00.30.6885
BOU-MP25-0910.0102.0       NSR
BOU-RC25-0380.0200.0       NSR
BOU-RC25-03982.083.00.53291.00.00.40.82294
BOU-RC25-03988.089.00.03691.00.02.32.58165
BOU-RC25-0570.0180.0       NSR
BOU-RC25-0601.0191.0       NSR
BOU-RC25-0610.0166.0       NSR
BOU-RC25-0620.0188.0       NSR
BOU-RC25-0630.0168.0       NSR
BOU-RC25-0660.0200.0       NSR
BOU-DD26-7570.0204.0       NSR
BOU-DD26-758166.9171.80.47654.90.00.61.110136
BOU-DD26-759255266.00.42216110.11.31.921317
Including255.0258.11.165523.10.01.82.943739
BOU-DD26-759278.0279.00.24311.00.00.40.7973
BOU-DD26-759315.0316.00.9031.00.00.00.0875
BOU-DD26-759336.4342.60.583026.20.01.63.8239461
Including336.4339.90.804473.50.02.15.0238657
BOU-DD26-759379.5380.00.36750.50.00.51.7292151
BOU-DD26-760340.3341.30.03551.00.00.00.0658
BOU-DD26-760482.0483.60.31551.60.10.10.2392
BOU-DD26-761282.0283.41.732261.40.00.81.940417
BOU-DD26-761290.3291.70.072171.40.32.03.694350
BOU-DD26-761303.0303.90.06560.90.31.10.946120
BOU-DD26-761350.0351.00.34341.00.00.51.616103
BOU-DD26-761358.0358.80.834380.80.15.03.115671
BOU-DD26-761362.0365.00.291653.00.11.85.354332
BOU-DD26-761394.0394.60.23870.60.01.93.5327218
BOU-DD26-7620.0201.0       NSR
BOU-DD26-7630.0219.0       NSR
BOU-DD26-764213.7220.81.49307.10.10.20.28165
BOU-DD26-765223.0224.00.33111.00.00.20.6754
BOU-DD26-766111.1112.41.091241.30.00.60.54233
BOU-DD26-766193.4198.20.891674.80.00.827293
BOU-DD26-766204.12070.4892.90.00.40.512135
BOU-DD26-766210.0211.00.23361.00.00.30.01264
BOU-DD26-767273.9281.00.38857.10.01.23.768215
Including274.8276.90.791942.10.02.88.585484
BOU-DD26-767327.3327.81.28260.50.00.21.612162
BOU-DD26-767359.0359.60.73380.60.00.51.119127
BOU-DD26-767373.2381.50.721918.30.02.01.9221328
Including374.2376.90.884672.70.05.12.7618700
BOU-DD26-767398.6401.00.662282.40.01.51.8508355
BOU-DD26-7680.0204.0       NSR
BOU-DD26-769102.0105.00.21733.00.02.26.15252
BOU-DD26-77051.652.50.73310.90.10.21.37122
BOU-DD26-770225.8228.11.73432.30.10.10.416200
BOU-DD26-770327.0328.00.03711.00.00.00.0875
BOU-DD26-77116.817.60.82280.80.10.10.114100
BOU-DD26-77119.220.00.19530.80.10.00.0778
BOU-DD26-77195.696.10.19320.50.41.83.113169
BOU-DD26-771105.0106.00.68131.00.00.20.31079
BOU-DD26-771116.7117.30.11710.60.00.30.5997
BOU-DD26-771401.0402.00.032431.00.00.00.02246
BOU-DD26-7720.0108.0       NSR
BOU-DD26-773241.6245.20.82603.60.00.60.8182155
BOU-DD26-773248.0249.00.15341.00.00.30.25757
BOU-DD26-773253.0255.61.185162.60.02.32.848712
BOU-DD26-7740.0150.0       NSR
BOU-DD26-775319.0320.80.23481.80.00.51.012198
BOU-DD26-775323.5335.50.4417212.00.01.02.0341272
Including324.4326.21.766621.80.02.64.71,032966
BOU-DD26-775338.1346.30.761848.20.01.51.71,819338
Including338.9341.41.444282.50.03.83.92,736737
BOU-DD26-775352.0353.00.76221.00.00.20.316096
BOU-DD26-775366.3366.80.38400.50.00.00.41580
BOU-DD26-775383.0384.80.29771.80.00.50.668124
BOU-DD26-775400.0409.50.762169.50.02.74.6507429
Including401.4407.40.942696.00.03.65.6639534
BOU-DD26-776360.0360.90.7870.90.00.00.11671
BOU-DD26-776400.3401.20.32300.90.00.20.51569
BOU-DD26-776431.0432.00.16381.00.00.20.239065
BOU-DD26-776439.2442.00.23662.80.00.82.0520149
BOU-DD26-776461.0463.30.74932.30.01.73.810261
BOU-DD26-776475.0476.00.64871.00.01.03.5201232
BOU-DD26-777457.3457.80.87580.50.00.90.971165
BOU-DD26-777479.3480.50.441101.20.01.43.457241
BOU-DD26-777498.2499.20.19351.00.00.81.23691
BOU-DD26-777501.2513.00.539411.80.01.33.0312226
Including510.9513.01.221452.10.01.53.6525353
BOU-DD26-7780.0210.0       NSR
BOU-DD26-7790.0201.0       NSR
BOU-DD26-7800.0204.0       NSR
BOU-DD26-78170.771.40.07770.70.50.10.216123
BOU-DD26-781157.7158.50.034520.80.10.90.24480
BOU-DD26-781165.5166.01.22190.50.00.50.24132
BOU-DD26-781180.6182.10.12641.50.10.61.05109
BOU-DD26-781255.9256.40.9270.50.00.10.11184
BOU-DD26-781348.7350.30.03551.60.00.00.0358
BOU-DD26-781352.2353.10.03500.90.00.10.5364
BOU-DD26-782179.9180.80.68340.90.30.60.924134
BOU-DD26-782184.4186.31.924781.90.22.46.674820
BOU-DD26-782189.6190.40.851460.80.01.12.540286
BOU-DD26-782194.0199.50.24715.50.00.92.543159
Including194.0196.00.351312.00.01.84.258278
BOU-DD26-783239.0240.00.381191.00.10.40.24,306235
BOU-DD26-783274.0289.81.1019815.80.12.22.61,222405
Including283.8287.81.754194.00.24.74.53,202805
BOU-DD26-783300.9301.41.491190.50.00.82.223299
BOU-DD26-783303.7304.20.35440.50.00.10.89291
BOU-DD26-783330.2330.70.49560.50.00.22.037138
BOU-DD26-78444.044.80.61320.80.21.74.36211
BOU-DD26-78451.052.01.2471.00.00.51.22140
BOU-DD26-78455.657.04.98211.40.20.81.12466
BOU-DD26-78460.061.01.51151.00.00.20.54150
BOU-DD26-784114.6115.50.17650.90.80.00.22139
BOU-DD26-784117.3118.00.67270.70.10.00.2493
BOU-DD26-784201.0201.50.21390.50.12.53.815185
BOU-DD26-78589.490.00.48500.60.10.62.313149
BOU-DD26-78596.897.70.5680.90.00.30.4467
BOU-DD26-785110.5111.00.59420.50.10.81.12131
BOU-DD26-785136.0137.00.03561.00.10.10.1471
BOU-DD26-785316.0318.80.95462.80.00.20.43136
BOU-DD26-786327.8328.80.5671.00.00.00.0153
BOU-DD26-786337.0337.50.79290.50.00.10.011696
BOU-DD26-786359.4360.60.85651.20.00.12.1106180
BOU-DD26-786376.0378.00.16582.00.00.10.03,220129
BOU-DD26-786403.2412.60.613999.40.01.01.4922511
Including403.2405.01.541,7081.80.01.72.56911,928
BOU-DD26-786431.1431.60.29570.50.00.10.039190
BOU-DD26-786435.7437.30.684131.60.01.32.494543
BOU-DD26-786450.2451.50.58751.30.01.12.8139201
BOU-DD26-786459.2462.81.381953.60.15.13.593481
Including459.2461.02.383551.80.19.95.0127845
BOU-DD26-786470.6471.40.98220.80.00.10.18102
BOU-DD26-7870.0306.0       NSR
BOU-DD26-788251.5252.00.55110.50.00.11.5288
BOU-DD26-7890.0252.0       NSR
BOU-DD26-79099.3100.21.095270.90.07.93.421834
BOU-DD26-790119.6120.20.321230.60.00.22.01192
BOU-DD26-790140.5155.40.6258614.90.03.71.912746
Including148.3154.81.059716.50.06.72.1161,227
BOU-DD26-790157.1157.60.31350.50.00.10.51173
BOU-DD26-790200.0201.00.27851.00.00.21.71143
BOU-DD26-791184.0185.00.03701.00.00.00.0473
BOU-DD26-791196.0198.00.61132.00.00.10.21466
BOU-DD26-791227.5229.50.291002.00.01.01.929182
BOU-DD26-791282.6283.10.322830.50.00.90.98343
BOU-DD26-792150.0151.00.6821.00.00.00.01157
BOU-DD26-792168.5169.80.73351.30.00.30.516111
BOU-DD26-792239.0240.00.8311.00.00.00.0368
BOU-DD26-792247.0248.00.88111.00.00.20.84101
BOU-DD26-792287.9292.00.611474.10.01.41.4505260
Including287.9289.01.473681.10.03.33.91,594654
BOU-DD26-792297.0305.10.792378.10.04.53.0835462
Including300.9303.11.505632.20.010.45.22,8911,036
BOU-DD26-792306.0306.60.16380.60.01.11.721107
BOU-DD26-792326.1326.60.49320.50.00.61.0122104
BOU-DD26-792381.0381.60.62150.60.00.00.01265
BOU-DD26-793140.3141.00.18420.70.51.42.18158
BOU-DD26-793145.0145.70.7280.70.00.00.1569
BOU-DD26-793152.9153.41.35220.50.10.30.28145
BOU-DD26-7940.0204.0       NSR
BOU-DD26-795113.0113.60.5990.60.00.10.1763
BOU-DD26-795153.5154.50.6921.00.00.10.8276
BOU-DD26-795256.9258.21.25251.30.01.32.20194
BOU-DD26-795261.0262.01.1181.00.00.21.10123
BOU-DD26-796368.4373.10.632314.70.03.02.357387
Including371.6372.22.141,1080.60.115.15.6671,687
BOU-DD26-796378.0384.10.201176.10.12.62.40236
Including381.0382.20.462651.20.211.810.50751
BOU-DD26-796387.2387.70.27470.50.10.40.2088
BOU-DD26-797167.1168.00.07700.90.00.33.80157
BOU-DD26-797195.9196.40.15920.50.00.74.67210
BOU-DD26-79880.882.91.07812.10.21.50.744223
BOU-DD26-79898.299.21.37221.00.10.20.18140
BOU-DD26-798118.3119.10.73260.80.10.40.44104
BOU-DD26-798284.0286.20.71192.20.00.91.44119
BOU-DD26-799127.0128.00.6911.00.00.00.0356
BOU-DD26-799250.0251.00.8361.00.00.10.4482
BOU-DD26-799265.0266.00.27501.00.00.81.43116
BOU-DD26-799271.5276.41.052104.90.32.64.560452
BOU-DD26-799297.0298.00.13511.00.00.91.0298
BOU-DD26-799302.0303.00.18391.00.01.01.31298
BOU-DD26-799339.6340.20.602860.60.01.32.2247408
BOU-DD26-800107.7109.50.04621.80.00.13.614138

* 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.

Appendix 2 – New Drillhole Coordinates of 2026 Boumadine Exploration Program (completed holes)

DDH No.EastingNorthingElevationAzimuthDipLength (m)
BOU-DD26-8293173703474105127573-50288
BOU-DD26-83031753334749881279249-50621
BOU-DD26-83131608234783501256269-50408
BOU-DD26-83231537934782581290269-50210
BOU-DD26-8333173413474094127169-49303
BOU-DD26-8343174093473961126970-58514
BOU-DD26-83531569934781561252270-50453
BOU-DD26-83631542134782611283270-50285
BOU-DD26-83731598334783491260270-50342
BOU-DD26-8383173053474079126569-51387
BOU-DD26-8393172683474065126272-50435
BOU-DD26-84031546434782671266270-50342
BOU-DD26-84131549734782651262270-50351
BOU-DD26-8423173243474193127669-51207
BOU-DD26-8433172903474181127068-49270
BOU-DD26-84431734434749721281249-50207
BOU-DD26-84531576034781571263268-49501
BOU-DD26-84631553734782651262269-50477
BOU-DD26-8473172533474168126370-50300
BOU-DD26-8483172173474159125670-50411
BOU-DD26-8493171763474149125570-50459
BOU-DD26-85031580534781511276269-50615
BOU-DD26-85131740134749981265249-51246
BOU-DD26-8523171273474124126669-49552
BOU-DD26-85331557534782631255269-50354
BOU-DD26-8543170873474109127068-50651
BOU-DD26-85531747134750301256246-52402
BOU-DD26-85631561334782731250269-50351
BOU-DD26-8573170453474093127673-50756
BOU-DD26-85831565634782631249270-50402
BOU-DD26-85931528934780641280269-50138
BOU-DD26-8603172713474287127270-50255
BOU-DD26-8613172293474270127071-49312
BOU-DD26-86231570034782641251271-49450
BOU-DD26-86331575134782661256269-50504
BOU-DD26-8643171883474256127069-50354
BOU-DD26-86531534234780631285269-51198
BOU-DD26-8663171543474239126670-50528
BOU-DD26-8673171183474233126168-50582
BOU-DD26-86831579734782631267270-50576
BOU-DD26-8693170783474216125768-50600
BOU-DD26-8703170383474201125770-51708
BOU-DD26-87131537834780631278270-50270
BOU-DD26-87331541234780631266270-50255
BOU-DD26-87431545034780651257270-50297
BOU-DD26-8753172163474372128070-50411
BOU-DD26-87731553834780631258270-50402
BOU-DD26-8783171753474357127969-50582
BOU-DD26-88031558934780591265270-50357
BOU-DD26-8813171373474344127366-50615
BOU-DD26-88231568334780621279268-50501
BOU-DD26-8833172573474110125571-50360
BOU-DD26-8853172853474502129671-50156
BOU-DD26-88631528534779631283270-50123
BOU-DD26-88731576634780681274270-50555
BOU-DD26-8883171013474179125970-50630
BOU-DD26-8893172493474487128871-50255
BOU-DD26-8903172143474474128068-50429
BOU-DD26-89131540034779631270270-50216
BOU-DD26-89231543734779601262270-50261
BOU-DD26-89331532734779631285270-50156
BOU-DD26-89631553134779591269269-51402
BOU-DD26-8973171433474450127773-50612
BOU-DD26-8983171003474437127368-50663
BOU-DD26-89931536434779631279270-50192
BOU-DD26-9003172193474214126470-50342
BOU-DD26-9013171373474192125769-50516
BOU-DD26-90231527834778581279270-50108
BOU-DD26-90331558134779631279270-50513
BOU-DD26-90431562834779621283269-48474
BOU-DD26-90631532134778581279270-50156
BOU-DD26-9103172923474453129571-50504
BOU-DD26-91331540034778581272270-50252
BOU-DD26-91431548034778601272269-50375
BOU-DD26-91531552434778601272270-50426
BOU-DD26-9163170763474372126770-51657
BOU-DD26-91731544134778531269270-50300
BOU-DD26-9183172633474548129370-50201
BOU-DD26-9203171953474521127670-51356.2
BOU-DD26-9243171723474564127570-51255
BOU-DD26-9263172153474580128270-51168

2. The complete NI 43-101 Technical Report entitled "Technical Report and Updated Mineral Resource Estimate of the Boumadine Polymetallic Project, Kingdom of Morocco" dated December 18, 2025, (2025 PEA) is available on Aya's website and on SEDAR+ (www.sedarplus.ca). The PEA is preliminary in nature, and it includes inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and, as such, there is no certainty that the PEA results will be realized.


FAQ

What drill results did Aya Gold & Silver (AYA) announce for the Boumadine Project on May 20, 2026?

Aya reported multiple high-grade Boumadine drill intercepts, including 890 g/t AgEq over 51.5m and 746 g/t AgEq over 14.9m. According to Aya, these results confirm strong grade continuity along the 5.4km Main Trend and support potential for further resource growth.

Why is drill hole BOU-DD25-745 important for Aya Gold & Silver (AYA) at Boumadine?

BOU-DD25-745 returned 890 g/t AgEq over 51.5m, Aya’s strongest Boumadine intercept on a grade-thickness basis. According to Aya, the hole also intersected a new mineralized parallel structure 70m below the current pit shell, which may expand resources and pit depth.

How much drilling has Aya Gold & Silver (AYA) completed at Boumadine in 2026 and what is the total plan?

Aya has completed 160 diamond drill holes totaling 69,209m at Boumadine so far in 2026. According to Aya, this represents about 20% of a planned 360,000m infill and expansion program scheduled over 24 months for the 2026–2027 period.

What are the next exploration steps for Aya Gold & Silver (AYA) at Boumadine after the latest drill results?

Aya plans ongoing infill drilling over the next 24 months as part of a 360,000m program. According to Aya, most drilling will target the Main Trend, Imariren and Tizi, with about 20,000m allocated to Asirem follow-up and greenfield exploration in 2026.

How do the Boumadine drill results affect Aya Gold & Silver (AYA) resource growth potential?

The reported intercepts indicate continuous high-grade mineralization along the 5.4km Main Trend and a new parallel structure. According to Aya, all Boumadine, Tizi and Imariren trends remain open in all directions, suggesting room for resource expansion with further drilling.

Which mineralized zones is Aya Gold & Silver (AYA) targeting at Boumadine and nearby trends?

Aya is drilling along the Boumadine Main Trend plus the Tizi, Imariren and Asirem trends. According to Aya, the Main Trend extends 5.4km, Tizi 2.0km and Imariren 1.2km, with all three zones open laterally and at depth for additional exploration.

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