Aya Gold & Silver Updates on Expansion of Zgounder

MONTREAL, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) today provided an update on construction progress at its Zgounder Silver Mine in the Kingdom of Morocco. The expansion project was 98% complete as at August 30, fully funded, and on budget.

The Corporation’s engineering, procurement, and construction partner, Duro Felguera (“DF”), encountered issues during commissioning of the hydraulic unit of the ball mill. As a result of these issues, DF recently advised Aya that a rework of the hydraulic unit piping is required. This does not impact the integrity of the ball mill, the hydraulic unit or other equipment. Commissioning of other subsystems is proceeding steadily, and the crushing circuit is now operational.

As a result of the necessary rework, DF has requested and obtained from Aya a two-month extension for hot commissioning and ramp-up of the Zgounder expanded plant. All other critical areas of the Zgounder expansion project are progressing to plan or are in commissioning:

• Commissioning of other areas of the plant continues to progress: ore has been crushed throughout the entire crushing circuit and sent to the silo.
• Work has begun on the underground ramp from the 1,925m to 1,900m levels and will continue to lower levels.
• The entire mining site is now powered with renewable energy from the newly built 60kV power line.
• The new underground mobile workshop is in use.
• The primary underground ventilation is working on all levels.
• The on-surface cemented backfill mixing station and piping on all sublevels are mechanically complete and will shortly be commissioned.
• All four underground electrical substations have been deployed.
• The water dams and other water storage infrastructures are operational.
• The new tailings dam is in use.
• Water is being recovered from the tailing dam.
• The base camp is complete.
• The new assay laboratory is near-complete with commissioning planned end of September 2024.

Given the delay in hot-commissioning and ramp-up of the Zgounder expanded plant, the Corporation’s 2024 production guidance is under review. Aya expects to revisit its production guidance based on construction progress and operational results by latest November 14, 2024, when it will publish its third-quarter 2024 financial results.