Montreal, Quebec, March 28, 2025 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) today announced financial and operational results for the fourth quarter and full year ended December 31, 2024. All amounts are in US dollars, unless otherwise stated.

Full Year 2024 Highlights

• Silver produced totaled 1,646,265 ounces (“oz”) in 2024 compared to 1,970,646 oz in 2023, is in line with revised guidance of 1.6 to 1.8 million (“M”) silver (“Ag”) oz.

• Ore processed increased 27% to 358,919 tonnes (“t”) in 2024 compared with 281,634t in 2023.

• Revenues reported from silver sales generated $39.1M (decreasing 9% over 2023), at an average realized silver price of $26.04/oz.

• Adjusted cash cost per silver ounce soldtotaled $19.62/oz in 2024, compared with $12.50/oz in 2023. The increase in year-over-year (“YoY”) cash costs were related to expansion preparations.

• Robust financial position reported with $49.2M of cash and restricted cash as at December 31, 2024.

• New plant completed and commercial production declared at year end. Mill ramp-up is ongoing with plant having reached nameplate capacity.

• Boumadine 2024 exploration program led to a new resource estimate consisting of an Indicated Mineral Resource of 5.2Mt at 448 g/t AgEq containing an estimated 74.4Moz of AgEq oz, and an Inferred Mineral Resource of 29.1Mt at 402 g/t AgEq containing an estimated 377.7Moz of AgEq oz published in 2025.

• Boumadine exploration footprint expanded with the addition of 15 permits, increasing the Boumadine land package by 117% in 2024.

• Total metres drilled totaled 153,875 metres (“m”) in 2024, representing a 138% increase in metres drilled over 2023.

• Health and safety (“H&S”) prioritized with continued emphasis on preventative measures, analyses and 12,907 hours of H&S training completed for the year.

• 90km powerline (60kV) commissioned and powered.

• Amizmiz gold project spinout announced creating a new North African gold focused exploration company, Mx2 Mining Inc.

Q4 2024 Highlights

• Silver produced totaled 491,310 oz in 2024 compared to 450,046 oz in 2023.

• Ore processed increased 17% to 113,674t (or 1,236 tonnes per day (“tpd”) in Q4-2024 compared with 66,449t (or 722 tpd) in Q4-2023.

• Plant availabilities reached 5% and 96.5% for the flotation and cyanidation plants, respectively, during the quarter.

• Revenues reported from silver sales generated $9.3M in Q4-2024 (decreasing 16% year-over-year), at an average realized silver price of $27.65/oz.

• Cash flow generated from operating activities totaled $2.4M in Q4-2024, supported by working capital, compared to ($12.1M) used in Q4-2023.

• Adjusted cash cost per silver ounce sold totaled $21.51/oz in Q4-2024, compared with $13.69/oz in Q4-2023. The increase in cash costs were related to expansion preparations.

"2024 was a pivotal year for Aya, highlighted by the successful on budget completion of the Zgounder Mine expansion — a rare achievement in this industry,” said Benoit La Salle, President and CEO. “This milestone was essential for the commissioning phase and the declaration of commercial production announced in Q4-2024. We are now focused on optimizing Zgounder’s operations, and we expect to complete an updated Technical Report in 2025, which will provide the foundation for future production and cost guidance.

“Moreover, within one month of our first silver pour, we declared commercial production, and production is now running above nameplate capacity, while balancing a shift from underground to an open-pit focused operation. As we enter 2025, our focus remains on maximizing profitability while pursuing growth opportunities at both Zgounder and Boumadine — with Boumadine poised to reveal its tremendous potential.”