Aya Gold & Silver (AYA) investor relations material

Unique asset and operational profile

• Operates a rare, pure native silver mine in Morocco with 92%-94% recovery rates, significantly above industry averages.

• Currently a pure silver producer, with plans to add gold production by 2029, aiming to quadruple revenue.

• Maintains a tight share register, clean balance sheet, and $140 million+ in cash, with all-in costs below $20/oz and strong profitability.

• Mine powered by solar and wind, recovers 88% of water, and qualifies for green financing at favorable rates.

• Board and related parties control 45% of shares, ensuring strong alignment with shareholders.

Strategic vision and leadership

• Management and board bring decades of mining, finance, and legal expertise, with a strong track record in Africa and global mining operations.

• High governance standards implemented, with 88% board independence and increased ESG transparency.

• Executive pay aligned with performance and shareholder interests.

Growth, exploration, and technology

• Conducts one of the largest drill programs in the sector, targeting 200,000–300,000 meters annually.

• Utilizes advanced technology, including AI, geophysics, and satellite imagery, to identify new mineralization zones.

• Exploration covers two major districts (Zgounder and Boumadine) totaling 1,500 sq km, with no direct competitors in the region.

• Boumadine project identified as a major future asset, with a feasibility study due soon and significant resource growth expected.

• Zgounder and Boumadine combined AgEq resources grew over 8x since Q2-2020, with industry-low discovery costs of $0.10/oz.