Montreal, Quebec, June 29, 2023 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce it has acquired the Tirzzit Project (“Tirzzit”), a collection of seven permits located 25 kilometers from the Zgounder Silver Mine in the Kingdom of Morocco. This acquisition adds a historical mine with a significant amount of proprietary data as well as a prolific land package with tremendous potential.

Transaction Highlights

On close of the Tirzzit acquisition,

· Aya will control 100% of Tirzzit in Morocco

· Aya is paying a total consideration of approximately US$4.9 million[1] including US$800,000 in cash as well as 622,728 Aya shares

· Aya acquires the following:

o Seven permits, comprising five exploration permits and two mining licenses, one of which hosts a high-grade historical copper (“Cu”) mine

o Historical data including drill results and geophysics, which Aya will use to launch fieldwork to enhance its understanding of Tirzzit

o A property totaling 67.7 square kilometers (“km”)

The transaction remains subject to final TSX approval and regulatory approval in the Kingdom of Morocco.  The Aya shares issued pursuant to the transaction are subject to 4-month statutory hold period, in accordance with applicable Canadian securities law.