Aya Gold & Silver Secures Funding for Boumadine Project Growth

Aya Gold & Silver Secures Funding for Boumadine Project Growth

MONTREAL — Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) is thrilled to share exciting news regarding its Boumadine polymetallic project, a venture poised to transform minerals extraction in Morocco. The company has successfully closed a US$25 million credit facility with the European Bank for Reconstruction and Development (EBRD), representing a significant milestone in its development efforts.

This new credit arrangement signifies the third successful partnership transaction between Aya and EBRD, highlighting a collaborative commitment towards driving sustainable mining practices and responsible growth in the mining industry.

Strengthening Strategic Partnerships

President & CEO Benoit La Salle expressed pride in this latest achievement. He stated, “Closing another strategic financing with the EBRD showcases not only Boumadine’s exceptional potential but also the EBRD’s dedication as a long-term partner. As this project progresses towards development, this commitment serves as a robust endorsement of our growth strategy.”

According to EBRD’s announcement, the Boumadine polymetallic mine is becoming increasingly recognized as one of the most pivotal mines in Morocco and North Africa. This development positions the EBRD as a leading financing partner for Aya as it heads into the construction phase of the mine.

Utilization of the Credit Facility

The funds from this credit facility will not only facilitate the exploration and engineering activities at Boumadine but will also support broader initiatives within the country. These initiatives include workforce training, investing in gender inclusion, and enhancing local supply chains across Aya’s operations.

Boumadine is emerging as one of the most significant undeveloped polymetallic deposits globally, rich in gold and silver. This project is considered a core element of Aya’s strategy to become a high-margin, multi-asset mineral producer.

Aya Gold & Silver's Profile

Aya Gold & Silver Inc. is a fast-growing silver-producing company based in Canada, making strides in Morocco. Being the only pure silver mining company listed on the TSX, Aya manages the high-grade Zgounder Silver Mine, while also exploring numerous properties along the promising South-Atlas Fault, where historical mining has occurred.

The management at Aya is dedicated to maximizing shareholder value, solidifying sustainability as a foundational principle in its operations and growth strategies.

Contact Information

For additional inquiries regarding Aya Gold & Silver Inc., please contact:

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 is the purpose of the EBRD credit facility?

The credit facility is intended to support the advancement of development work at the Boumadine polymetallic project, facilitating exploration and mine planning activities.

How significant is the Boumadine project?

Boumadine is recognized as one of the most significant undeveloped polymetallic deposits globally, rich in gold and silver, playing a crucial role in Aya's growth strategy.

What does the partnership with EBRD entail?

This partnership involves strategic financing to promote sustainable growth and responsible mining practices, with the EBRD positioned as a long-term financial partner for Aya.

Who is Aya Gold & Silver Inc.?

Aya Gold & Silver Inc. is a Canada-based silver producer operating primarily in Morocco, focusing on advancing its mining projects while ensuring responsible resource management.

How does Aya ensure sustainability in its operations?

Aya prioritizes sustainability by embedding it into its core operations, governance, and financial planning, aiming to maximize shareholder value through responsible practices.

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