Montreal, Quebec, February 28, 2023 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce additional drill results, confirming the extension of high-grade silver mineralization at the Zgounder Silver Mine in the Kingdom of Morocco.

Key Highlights (all intersections are in core lengths)

l Diamond drill hole DZG-SF-22-176 intercepted 4,980 grams per tonne (“g/t”) silver (“Ag”) over 7.5 meters (“m”), including 9,234 g/t Ag over 4.0m.

l At the central zone just below the 2,000m (“m”) level confirming the high-grade zone from the December 21, 2022 update,

l hole TD28-22-2000-401 intercepted 2,035 g/t Ag over 10.8m including

l 3,502 g/t Ag over 6.0m

l hole TD28-22-2000-403 intercepted 1,081 g/t Ag over 13.2m including

l 5,275 g/t Ag over 2.4m

l At the central zone just above the 1,950m level,

l hole TD28-22-1950-416 intercepted 3,998 g/t Ag over 6.0m

l From surface in the central area, hole ZG-DCD-22-07 intersected 846 g/t Ag over 9.5m, confirming high-grade mineralization at depth toward the contact with the granite.

l Launch of the deeper drilling campaign at Zgounder deposit with two rigs at surface and one rig underground

Included in this release are results for 92 holes, which include 3 surface diamond drill hole (“DDH”), 20 underground DDH, 38 T28 and 31 YAK (T28 & YAK: percussion drilling using an air-compressed hammer) holes.