MONTREAL, Dec. 14,
2022 /CNW Telbec/ - Aya
Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF)
("Aya" or the "Corporation") is pleased to announce that it has
closed its deal with the National Office of Hydrocarbons and Mines
("ONHYM") to acquire the ONHYM's 15% interest in the Zgounder
project and five adjacent permits to the Zgounder Silver Mine for a
total consideration of 67 million
dirhams (approximately US$6.5
million). ONHYM will maintain its 3% royalty on the Zgounder
property, and a 3% royalty is granted on production coming from the
new permits. This transaction deepens Aya's collaboration with
ONHYM, extending to other strategic initiatives including the
review and evaluation of additional exploration ground in
Morocco.
"This deal is terrific for all stakeholders and highlights our
commitment to the country and our strong relationship with ONHYM
and the government of Morocco,"
said Benoit La Salle, President
& CEO. "We have acquired 100% ownership of the Zgounder project
and purchased strategic, adjoining permits, consolidating our
position around Zgounder. This is a priority as we look for
potential satellite deposits and additional mineralization within
our new and existing regional permits. We look forward to our
continued strong partnership with ONHYM as we collaborate and
generate value for all stakeholders on mining opportunities in the
Kingdom of Morocco."
About Aya
Gold & Silver Inc.
Aya Gold & Silver Inc. is a
rapidly growing, Canada-based
silver producer with operations in the Kingdom of Morocco.
The only TSX-listed pure silver mining company, Aya operates the
high-grade Zgounder Silver Mine and is exploring its properties
along the prospective South-Atlas Fault, several of which have
hosted past-producing mines and historical resources. Aya's
Moroccan mining assets are complemented by its Tijirit Gold Project
in Mauritania, which is being
advanced to feasibility.
Aya's management team has been focused on maximising shareholder
value by anchoring sustainability at the heart of its operations,
governance, and financial growth plans.
For additional information, please visit Aya's website at
www.ayagoldsilver.com.
Forward-Looking Statements
This press release contains certain statements that constitute
forward-looking information within the meaning of applicable
securities laws ("forward-looking statements"), which reflects
management's expectations regarding Aya's future growth and
business prospects (including the timing and development of new
deposits and the success of exploration activities) and other
opportunities. Wherever possible, words such as "expects",
"advance", "allow", "offer", "confirm", "expect", "potentially",
"ensure", "expand", ", "believe", "intend", "ability to" and
similar expressions or statements that certain actions, events or
results "may", "could", "would", "might", "will", or are "likely"
to be taken, occur or be achieved, have been used to identify such
forward-looking information. Specific forward-looking statements in
this press release include, but are not limited to, statements and
information with respect to the exploration and development
potential of Zgounder and the conversion of Inferred Mineral
Resources into Measured and Indicated Mineral Resources, future
opportunities for enhancing development at Zgounder, and timing for
the release of the Company's disclosure in connection with the
foregoing, the capacity of the Company to continue to advance its
expansion plan on time and on budget and the capacity of the
Company to finance its expansion plans. Although the
forward-looking information contained in this press release reflect
management's current beliefs based upon information currently
available to management and based upon what management believes to
be reasonable assumptions, Aya cannot be certain that actual
results will be consistent with such forward-looking information.
Such forward-looking statements are based upon assumptions,
opinions and analysis made by management in light of its
experience, current conditions, and its expectations of future
developments that management believe to be reasonable and relevant
but that may prove to be incorrect. These assumptions include,
among other things, the closing and timing of equity or debt
financing required for the construction of the expansion project,
the ability to obtain any requisite governmental approvals and
enter into necessary investment agreements to facilitate the
investment with certain concessions, obtaining regulatory permits
for on site work, importing goods and machinery and employment
permits, the accuracy of Mineral Reserve and Mineral Resource
Estimates (including, but not limited to, ore tonnage and ore grade
estimates), the price of silver, the price of gold, exchange rates,
fuel and energy costs, future economic conditions, anticipated
future estimates of free cash flow, and courses of action. Aya
cautions you not to place undue reliance upon any such
forward-looking statements.
The risks and uncertainties that may affect forward-looking
statements include, among others: the inherent risks involved in
exploration and development of mineral properties, including
government approvals and permitting, changes in economic
conditions, changes in the worldwide price of silver gold and other
key inputs, changes in mine plans (including, but not limited to,
throughput and recoveries being affected by metallurgical
characteristics) and other factors, such as project execution
delays, many of which are beyond the control of Aya, as well as
other risks and uncertainties which are more fully described in
Aya's 2021 Annual Information Form dated June 16, 2022, and in other filings of Aya with
securities and regulatory authorities which are available on SEDAR
at www.sedar.com. Aya does not undertake any obligation to update
forward-looking statements should assumptions related to these
plans, estimates, projections, beliefs, and opinions change.
Nothing in this document should be construed as either an offer to
sell or a solicitation to buy or sell Aya securities. All
references to Aya include its subsidiaries unless the context
requires otherwise.
SOURCE Aya Gold & Silver
Inc