Aya Gold & Silver (AYA) Nordic Funds & Mines Conference 2024 summary

Strategic positioning and leadership

• Only publicly traded pure-play silver company, with no byproduct metals and strong market interest.

• Led by experienced executives with a track record of building multi-billion dollar companies and deep mining, finance, and legal expertise.

• Management and board control about 47% of the float, with institutional ownership at 33% and 15% held by board and management.

• Company turnaround since 2020, growing from near-bankruptcy to a C$1.5B market cap as of November 14, 2024.

• Secured low-cost, ESG-focused project finance debt, rare in the sector.

Growth, operations, and resource expansion

• Zgounder Mine expansion 99% complete as of Q3-2024, targeting commercial production in late Q4-2024.

• 2024 production guidance is 1.6M–1.8M oz silver, with a 347,560t ore stockpile for new mill commissioning.

• Boumadine project advanced with 69,293m drilled of a 120,000m program, expanding the main trend to 5.4km and identifying new mineralization styles.

• Zgounder and Boumadine combined resources now total 448Moz AgEq, a sevenfold increase since Q2-2020.

• Operational efficiency improved from 45% to 85–90% since takeover.

Exploration and resource growth

• Rapid annual resource growth, with ounces per share increasing 7x since 2020.

• Zgounder reported 3 of the top 10 and 15 of the top 50 global silver intersections from 2020–2024 YTD.

• Boumadine indicated resources: 2.0Mt at 113 g/t Ag, 2.51 g/t Au, 4.32% Zn, 1.07% Pb; inferred: 23.6Mt at 85 g/t Ag, 2.62 g/t Au, 2.32% Zn, 0.84% Pb.

• Ongoing drill programs at Zgounder, Boumadine, and regional targets, with new anomalies identified.

• Extensive exploration program with 160,000 meters drilled and high success rates.