Aya Gold & Silver Responds to Misleading Allegations
Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) is firmly rejecting the recent unfounded allegations presented by a short-seller report. The report disseminates various inaccuracies concerning the company’s management, operations, and resource assessments, which Aya believes were fabricated to manipulate market sentiment and adversely affect its share price.
Clarifying the Resource Metrics
Aya's operational metrics indicate resilience and reliability, essential attributes in the mining sector. Since 2020, the company has successfully mined over 10 million ounces of silver, consistently aligning production figures with published resource estimates. This means that the mining output is not just speculative; it can be verified against the company's pre-established data.
Resource Validation Through Continuous Drilling
Support for Aya's resource model is bolstered through rigorous drilling efforts. The initial resource model delineated in March 2021 emerged from 76,000 meters of drilling, which was subsequently expanded by an additional 45,500 meters within nine months. By June 2025, Aya had completed an impressive 231,000 meters of drilling, further enhancing confidence in its resource base at the Zgounder site.
Discoveries and Expansions
This extensive drilling not only verifies existing mineral resources but also indicates potential expansions beyond the current mining footprint, promoting further exploration of regional targets. Aya is committed to systematically unveiling these extensions with an eye towards long-term growth and robust exploration potential.
Robust Third-Party Evaluations
Furthermore, the mineral resource estimate at Zgounder has undergone independent verification by P&E Mining Consultants Inc., ensuring that it meets stringent standards outlined in National Instrument 43-101. This rigorous third-party review has provided a level of transparency that reassures investors of the integrity of Aya's reporting.
Securing Financial Backing
Moreover, the European Bank for Reconstruction and Development, engaging independent advisors, confirmed Aya's resource estimates as a condition for financing the Zgounder expansion project. This external validation reflects a strong level of trust in Aya's operational and financial competencies.
Upcoming Technical Report
Aya is advancing towards the completion of a comprehensive technical report anticipated to be unveiled in Q4-2025. This report will confirm the robust economic viability of Zgounder, integrating both open-pit and underground mining frameworks to optimize operations.
Financial Health and Growth Potential
Financially, Aya stands with approximately US$115 million in cash reserves, enabling it to fund growth initiatives internally. This includes promising developments at Boumadine, with a Preliminary Economic Assessment (PEA) scheduled for release before the year's end, showcasing potential for further strong asset performance.
Commitment to Integrity and Transparency
President and CEO Benoit La Salle stated, "The allegations against us are categorically false. Our operations at Zgounder are performing as expected, and we continuously strive to improve our mining methods and practices. We stand firm in our commitment to provide transparent disclosures to our stakeholders and will pursue all necessary actions should misinformation damage our shareholder value."
Professional Insights on Operations
The scientific and technical insights released by Aya have been approved by qualified experts, ensuring compliance with industry standards tailored to safeguard stakeholders. The corporation promotes a sustainable approach across operations, governance, and financial strategies to maximize shareholder value.
About Aya Gold & Silver Inc.
Aya Gold & Silver Inc. is a rapidly expanding silver producer based in Canada, operating primarily in Morocco. As the only TSX-listed provider focused solely on silver mining, Aya leads with excellence at the high-grade Zgounder Silver Mine while exploring promising properties along the Anti-Atlas Fault, a historically significant area for mining.
The management at Aya is relentlessly focused on increasing shareholder value by integrating sustainability within its operational and financial objectives. For more information about Aya, interested parties can visit www.ayagoldsilver.com.
For inquiries, reach out to:
Benoit La Salle, FCPA, MBA
President & CEO
Benoit.lasalle@ayagoldsilver.com
Alex Ball
VP, Corporate Development & IR
alex.ball@ayagoldsilver.com
Frequently Asked Questions
What are the main allegations against Aya Gold & Silver?
The allegations stem from a short-seller report claiming inaccuracies regarding the company's management and resource assessments, which Aya categorically denies.
What is the current status of Aya's resource production?
Aya has produced over 10 million ounces of silver since 2020, with production consistently reconciling against established estimates.
When is the updated technical report expected?
The report is scheduled for completion in Q4-2025 and will detail an independently modeled resource and new operational strategies.
How does Aya ensure the integrity of its resource estimates?
Aya employs independent third-party consultants to verify its resource estimates, adhering to stringent industry standards.
What is Aya's financial situation currently?
Aya maintains a strong cash position of approximately US$115 million and is generating positive cash flow, ensuring ongoing operational and growth initiatives.
