MONTREAL, Quebec, February 16, 2023 - Aya Gold & Silver Inc. (TSX: AYA, OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce that its subsidiary, Zgounder Millennium Silver Mining SA, has entered into a 20-year Power Purchase Agreement (the “PPA”) with Energie Éolienne du Maroc (“EEM”), a subsidiary of Nareva, for the procurement of renewable energy starting upon completion of the Zgounder Project expansion.

The PPA will allow the new and existing Zgounder processing plants and surrounding infrastructure to operate predominantly with renewable electricity and supports the Corporation’s objective of implementing responsible mining and climate change initiatives in the Kingdom of Morocco. Specifically, the PPA allows Aya to achieve up to zero Scope 2 emissions once the new plant is in operation and reduces carbon intensity by 85% over the same period. Scope 2 emissions comprise of indirect greenhouse gas (“GHG”) emissions associated with the Corporation’s consumption of purchased electricity, including the facility where the electricity is generated.

PPA Contract Highlights:

• Pay-As-You-Go agreement for 80 gigawatt hours annually;
• Electricity will be generated from EEM’s renewable energy projects and transmitted through the national electric grid to the mine;
• Up to 100% of the mine’s electricity consumption could be covered by the PPA;
• Price of electricity is decoupled from global oil prices; and
• PPA will avoid up to 56,000 tonnes (“t”) of CO₂ equivalent emissions[1].

“The use of wind energy as our principal source of power demonstrates our commitment to responsible mining and climate change initiatives, which is a critical focus for all stakeholders. We are also proud to be engaging in a long-term relationship with EEM, further supporting the development of renewable energy in Morocco,” said Benoit La Salle, President and CEO.

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*DISCLAIMER: Aya Gold & Silver is a paid marketing client

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