Aya Gold & Silver's Strategic Spinout: A New Dawn for Gold

Aya Gold & Silver's Strategic Spinout Initiates Growth Phase

Aya Gold & Silver Inc. (TSX: AYA; OTC Markets: AYASF) has embarked on an exciting journey, announcing its strategic plans for the spinout of the Amizmiz Gold Project. This move aims to optimize Aya’s assets while fueling the development of a robust gold venture led by Mx2 Mining, marking a significant shift in their corporate strategy.

Formation of Mx2 Mining: A New Chapter

The newly formed Mx2 Mining will focus exclusively on gold assets in North Africa, with a compelling backing from Aya. The leadership of Mx2 comprises experienced executives including Richard Clark as Executive Chairman and Adam Spencer as President and CEO, setting the stage for a bright future.

Details of the Transaction

The transaction involves Aya transferring its ownership of the Amizmiz Property, supported by a financial commitment of $1 million as part of Mx2's funding efforts. Mx2 is set to raise at least $7.5 million, which will bolster its exploration capabilities for the Amizmiz Gold Project.

Gold Project Highlights

• Amizmiz Gold Project: Assessed resources of 342,000 ounces at a grade of 12.98 grams per tonne.
• A 2,400 meter drilling program is currently underway, anticipating the possibility of more than 1 million ounces of gold.
• The mining permit for this project extends until 2029 and can be renewed, offering a long-term opportunity for growth.

Focus on the Tijirit Project

In addition to the Amizmiz Gold Project, the Mx2 venture involves an exclusive option on the Tijirit Gold Project located in Mauritania. This project boasts a decent inventory of measured resources with over 292,600 ounces at 2.19 grams per tonne and an inferred resource of 533,200 ounces at 1.63 grams per tonne. Mx2 aims to maintain this option by fulfilling minimum spending requirements over the next three years.

Strengthening the Management Team

Aya's support of Mx2 extends beyond financial contributions; they will provide experienced personnel to the company’s board. This collaboration is key to driving Mx2’s strategy in exploring and developing North African gold assets effectively.

Commitment to Shareholder Value

Aya’s President & CEO, Benoit La Salle, expressed his enthusiasm regarding the spinout, highlighting how it optimizes the company's portfolio. He believes that shareholders will benefit significantly from the majority stake in Mx2 while the company continues to develop its core mining initiatives in Morocco.

Opportunities for Exploration and Development

The funds raised through this transaction will be directed towards exploration activities at the Amizmiz and Tijirit projects. This is crucial for continuing the momentum in unlocking the potential of these valuable assets while ensuring financial stability for Mx2.

Prospects in a Mining-Friendly Environment

With solid resources in both Morocco and Mauritania, the establishment of Mx2 represents a strategic move into a mining-friendly jurisdiction. The combination of Aya's backing with Mx2's leadership fosters an optimistic outlook for future success in the North African gold market.

About Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is carving its niche as a rising star in the mining industry, focusing primarily on high-grade silver production while also nurturing its gold properties including Tijirit. With a commitment to sustainability and value creation, Aya aims to maximize growth opportunities by anchoring solid governance into their operations.

Contact Information

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 significance of the spinout initiated by Aya Gold & Silver?

The spinout allows Aya to optimize its assets by focusing on high-quality gold resources while supporting the growth of the new venture, Mx2 Mining.

Who are the key executives leading Mx2 Mining?

Richard Clark serves as the Executive Chairman, and Adam Spencer is the President and CEO of Mx2 Mining.

What projects are included in the spinout transaction?

The spinout transaction involves the Amizmiz Gold Project in Morocco and an option on the Tijirit Gold Project in Mauritania.

How is Aya Gold & Silver contributing to Mx2 Mining financially?

Aya is investing $1 million in Mx2, complementing the minimum $7.5 million fundraising effort to enhance project exploration.

What strategic advantages does this spinout offer to shareholders?

Shareholders can expect enhanced value through a majority stake in Mx2, alongside continued development of Aya’s projects in Morocco.

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