Aya Gold & Silver (TSX: AYA) buys 259 km² Morocco exploration land
Rhea-AI Filing Summary
Aya Gold & Silver Inc. acquired a strategic exploration portfolio in Morocco comprising three mining licenses and 18 exploration permits covering approximately 259 km² across the Zagora, Agadir-Melloul, and Goulmim projects. Total consideration is MAD 10 million in cash and assumed debt, plus milestone payments and a 2% net smelter return royalty on future production, while customary Moroccan administrative formalities are finalized.
The projects target diverse mineralization: Zagora is prospective for Ni-Co-Pb-Zn-Ag-Au, Agadir-Melloul for Cu-Ag-Au and rare earth elements, and Goulmim for Pb-Ag-Cu-Au. Geologic settings are compared with known mineralized districts such as Bou-Azzer and Boumadine, indicating further land consolidation potential.
In 2026, the company expanded its Moroccan land package from approximately 732 km² to more than 991 km², a 35.4% increase, reinforcing a district-scale exploration strategy. Over the next 18–24 months, a phased greenfield program, including stream-sediment geochemistry, high-resolution hyperspectral studies, mapping, and prospecting, will assess discovery potential and prioritize targets for possible geophysics and drilling.
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Key Figures
Acquisition consideration: MAD 10 million
Portfolio land area: 259 km²
Zagora project area: 158.6 km²
+5 more
8 metrics
Acquisition consideration
MAD 10 million
Total consideration for the Moroccan exploration portfolio, in cash and assumed debt
Portfolio land area
259 km²
Total area of three Moroccan exploration projects acquired
Zagora project area
158.6 km²
Area across 11 exploration permits prospective for Ni-Co-Pb-Zn-Ag-Au
Agadir-Melloul project area
68.5 km²
Area across three mining licenses and five exploration permits
Goulmim project area
32.0 km²
Area in two contiguous research permits east of the Bas Drâa Inlier
Land package growth
35.4%
Increase in Aya’s Moroccan land package in 2026, from ~732 km² to >991 km²
NSR royalty rate
2%
Net smelter return royalty on future commercial production from the portfolio
Exploration timeframe
18 to 24 months
Planned duration of the phased greenfield exploration program on the new projects
Key Terms
net smelter return royalty, greenfield exploration, research permits, Ordovician sedimentary rocks, +1 more
5 terms
net smelter return royalty financial
"and a 2% net smelter return royalty on future commercial production"
A net smelter return (NSR) royalty is a contractual right to receive a percentage of the revenue from minerals sold after they are processed and refined, with common deductions for transportation and refining fees. Investors care because an NSR provides a predictable slice of mining project income without owning the mine, so it affects expected cash flow, risk exposure to commodity prices, and the valuation of both the royalty and the operating project—similar to collecting a portion of rent after paying building maintenance costs.
greenfield exploration technical
"Phased greenfield exploration program designed to rapidly assess discovery potential"
Greenfield exploration is the process of searching for natural resources—such as minerals, oil or gas—on land that has not been previously drilled or mined. It matters to investors because it can uncover entirely new deposits and deliver large returns, but it also carries higher costs, longer timelines and greater uncertainty compared with exploring near known deposits; think of it as hunting for buried treasure on untouched ground rather than checking a well-mapped backyard.
research permits regulatory
"The land package consists of 11 research permits totalizing an area of 158.6 km2"
Ordovician sedimentary rocks technical
"comprises Lower and Upper Ordovician sedimentary rocks separated by an east-west"
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. How Rhea-AI works. Not financial advice.
FAQ
What acquisition did Aya Gold & Silver (AYA) announce in Morocco?
Aya Gold & Silver acquired a strategic exploration portfolio in Morocco consisting of three mining licenses and 18 exploration permits over about 259 km² across the Zagora, Agadir-Melloul, and Goulmim projects, expanding its district-scale exploration footprint.
How large is the new Moroccan land package acquired by Aya Gold & Silver (AYA)?
The acquired portfolio covers approximately 259 km² of exploration ground. It spans 158.6 km² at Zagora, 68.5 km² at Agadir-Melloul, and 32.0 km² at Goulmim, all within highly prospective and underexplored mineral belts in Morocco.
What did Aya Gold & Silver (AYA) pay for the Moroccan exploration portfolio?
Aya agreed to total consideration of MAD 10 million, paid through cash and an assumption of debt. Sellers also receive milestone payments tied to future resource and development milestones and a 2% net smelter return royalty on future commercial production from the portfolio.
Which commodities does Aya Gold & Silver (AYA) target in the new Moroccan projects?
The portfolio is prospective for Ni, Co, Pb, Zn, Ag, Au at Zagora, Cu-Ag-Au and rare earth elements at Agadir-Melloul, and Pb-Ag-Cu-Au at Goulmim. These targets align with Aya’s focus on precious, base, and critical metals.
What exploration work will Aya Gold & Silver (AYA) conduct over the next 18–24 months?
Aya plans a phased greenfield exploration program over 18–24 months, including stream-sediment geochemistry, high-resolution hyperspectral studies, mapping, and prospecting. Results will guide whether to proceed to further work such as geophysical surveys and drilling on prioritized targets.
How much has Aya Gold & Silver’s (AYA) Moroccan land package grown in 2026?
In 2026, Aya increased its Moroccan land package from about 732 km² to more than 991 km², a 35.4% expansion. This growth supports the company’s strategy to build one of the largest exploration portfolios in Morocco and a pipeline of future discovery opportunities.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August, 2026.
Commission File Number: 001-43230
Aya Gold & Silver Inc.
(Translation of registrant’s name into English)
1320 boulevard Graham, suite 132, Mont-Royal, Quebec, Canada, H3P 3C8
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
☐Form 20-F ☑Form 40-F
EXHIBIT INDEX
The following documents are being furnished to the SEC as exhibits to this Form 6-K:
Exhibit No. | Description | |||||||
99.1* | Exploration Portfolio Acquisition Press Release | |||||||
* Filed herewith
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Aya Gold & Silver Inc.
| Date Aug 5, 2026 | By | /s/ Elias J. Elias | |||||||||
| Elias J. Elias | |||||||||||
| Chief Legal and Sustainability Officer & Corporate Secretary | |||||||||||
| PRESS RELEASE |  | ||||
Aya Gold & Silver Acquires Strategic Exploration Portfolio in Morocco
Adds 259 km² of Prospective Exploration Ground Across Three Distinct
Exploration Projects
Exploration Projects
Montreal, Quebec, August 6, 2026 - Aya Gold & Silver Inc. (TSX: AYA; NASDAQ: AYA) (“Aya” or the “Company”) is pleased to announce the acquisition of a strategic exploration portfolio comprising three mining licenses and 18 exploration permits covering approximately 259 km² of land across three distinct exploration projects, within highly prospective and underexplored mineral belts in Morocco (the "Portfolio").
The acquisition complements the Company's existing asset base, further consolidating its exploration footprint in Morocco, including the regional area surrounding the Zgounder operation and beyond it. It strengthens the Company's district-scale exploration strategy while expanding its exposure to precious, base, and critical metal opportunities.
Project Highlights
Portfolio Acquisition: 259.1 km² of prospective ground across three exploration projects
•Zagora project: 158.6 km² across 11 exploration permits, prospective for Ni-Co-Pb-Zn-Ag-Au mineralization.
•Agadir-Melloul project: 68.5 km² across three mining licenses and five exploration permits, prospective for Cu-Ag-Au and rare earth element mineralization.
•Goulmim project: 32.0 km² across two exploration permits, prospective for Pb-Ag-Cu-Au mineralization.
•Phased greenfield exploration program designed to rapidly assess discovery potential and prioritize targets for follow-up work.
“This acquisition reinforces Aya’s first-mover advantage in Morocco and advances our strategy of building one of the largest exploration portfolios in the country.
"In 2026, we have expanded our land package from approximately 732 km² to more than 991 km², representing an increase of 35.4%. We continue to secure district-scale positions early, consolidate highly prospective mineral belts and build a pipeline of exploration opportunities that have the potential
to unlock future discoveries and support Aya’s next phase of long-term growth.” said Benoit La Salle, President & CEO.
Portfolio Overview
The Portfolio comprises three mining licenses and 18 exploration permits covering approximately 259 km² across three distinct exploration projects (Figure 1) with significant potential for mineralization and for further land consolidation. The following sections summarize the geology and exploration potential of each project area.
Figure 1: Localization of the different projects of Aya Gold & Silver
Zagora
Located 40 km South of the Bou-Azzer Inlier, the Zagora permit block comprises Lower and Upper Ordovician sedimentary rocks separated by an east-west to northeast-trending contact and crosscut by a northeast-trending Triassic dolerite dyke (Figure 2 and 3). The geological setting presents potential for Ni, Co, Pb, Zn, Ag and Au mineralization, supported by field observations of pentlandite, galena, sphalerite, chalcopyrite and historical cobalt showing in the district. The land package consists of 11 research permits totalizing an area of 158.6 km2.
Figure 2: Zagora project with Regional Geology
Figure 3: Zagora project with Aster Bare Earth Mineral Ratios
Agadir-Melloul
The Agadir-Melloul property consists of three mining licenses and five research permits, covering 68.5 km2 separated into two distinct blocks (Figure 4 and 5). The northern block comprises Adoudounian dolomites overlain by the Taliwine Formation, both covered by Lower Cambrian sedimentary rocks and limestones. The Adoudounian formation hosts significant Cu-Ag mineralization across the Anti-Atlas, including the Tizert deposit. The southern block comprises Paleoproterozoic felsic intrusions surrounded by schists and gneisses and crosscut by northeast- and east-west-trending mafic dykes. The felsic intrusions belong to an alumino-potassic magmatic suite described as Tazenakht-type, host rocks of the Açdif gold mineralization within the Zenaga Inlier. The district present potential of sedimentary hosted copper mineralization, vein type Cu-Au-Ag as well as REE in the intrusive bodies.
Figure 4: Agadir-Melloul project with Regional Geology
Figure 5: Agadir-Melloul project with Aster Bare Earth Mineral Ratios
Goulmim
The Goulmim project of 32 km2 in two contiguous research permits, located east of the Bas Drâa Inlier, comprises a Lower Ordovician sedimentary sequence in the central area, surrounded by Middle Cambrian volcano-sedimentary rocks (Figure 6 and 7). The contact between these units is comparable to the geological framework of the Elios target at the Boumadine Project and indicates potential for Pb, Ag, Cu, and Au mineralization.
Figure 6: Goulmim project with Regional Geology
Figure 7: Goulmim project with Aster Bare Earth Mineral Ratios
Next Steps
Over the next 18 to 24 months, we will engage with greenfield exploration to quickly access the potential for discoveries. We will be carrying, some stream sediments geochemistry, high resolution hyperspectral study as well as some mapping and prospecting. Results from this phase will inform the need for further work like geophysics and drilling.
Transaction
The Portfolio was acquired for a total consideration of MAD 10 million, consisting of cash and an assumption of debt. In addition, the sellers are entitled to milestone payments based on future resource and development milestones, and a 2% net smelter return royalty on future commercial production from the Portfolio, which may be repurchased in whole or in part by the Company under certain predetermined conditions. Certain customary post-closing administrative formalities in Morocco remain in progress.
Qualified Persons
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 Company 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
President & CEO
benoit.lasalle@ayagoldsilver.com
Alex Ball
VP, Corporate Development & IR alex.ball@ayagoldsilver.com
VP, Corporate Development & IR alex.ball@ayagoldsilver.com
Forward-Looking Statement
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 Company’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 Company's mining assets
development and expansion potential; the potential of the Zagora, Agadir-Melloul, and Goulmim projects and districts, including their prospective mineralization, future land consolidation, geological and exploration potential; the Company's planned phased greenfield exploration program; the potential to assess discovery potential and prioritize exploration targets on the acquired properties; Aya's strategy to build one of the largest exploration portfolios on Morocco; the pipeline of exploration opportunities and their potential to unlock future discoveries and support Aya's next phase of long-term growth; the completion of the post-closing administrative Moroccan formalities with respect to the acquired properties and timing thereto; the comparison between any targets of the Company's Boumadine project and the acquired properties; the next steps and timing for the exploration and development of the acquired properties, including the greenfield exploration program, studies and mapping; any further work to be accomplished after the first phase of exploration on the acquired properties; the Company's strategy, objectives, targets, and projections with regards to its mining assets; and the Company’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 Company 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 Company’s forward-looking information is based include without limitation, assumptions regarding development and exploration activities; the Company's ability to accomplish all post-closing administrative formalities in Morocco with respect to the acquired properties and timing thereto; the timing, extent, duration and economic viability of its operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’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 Company’s business, any of which could have a material adverse effect on the Company’s business, financial condition, results of operations and growth prospects. Some of the risks the Company 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; Aya's ability to execute on its plans relating to the newly acquired properties; 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 Company’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 Company’s current expectations; the inherent risks involved in exploration and development of mineral properties; and other risks described in the Company’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 Company’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 Company’s business and operations.
Although the Company 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 Company’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 Company 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 Company qualifies all of its forward-looking statements by these cautionary statements.