Zgounder Silver Mine Poured 46,522 ounces (1447kg) of Silver Ingots in March

BLAINVILLE, QUEBEC--(Marketwired - Apr 8, 2016) - Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE:MYA) is pleased to report a production of 46,522 ounces (1447 Kg) during the month of March 2016 at its Zgounder silver mine in Morocco.

March 2016 Operational Highlights

• 46,522 ounces (1447 Kg) of silver ingots produced from a total 4,935 tonnes (dry material) with an average head grade of 389 g/t Ag during the period;
• Recovery rate of 75.35% was achieved;

Underground development accesses keep increasing; extraction for the month reached 5,640 tonnes. Drifting continue simultaneously at levels 2000 and 2100 from four panels.

Plan view of the underground workings with sectors being mined & developed at the 2000 Level.

A map is available at the following address: http://media3.marketwire.com/docs/Map_Zgounder-Silver-Mine_Pr_08_04_16.pdf

Details of the extraction sources during March.

On March 30^th, mechanical problems occurred as the main shaft of the secondary crusher broke. The production was stopped for four days. Operation are back to normal since April 6, 2016, the crusher has been replaced to avoid lost of production.

Qualified Persons

The technical content of this news release has been provided by Zgounder Millenium Silver Mining and has been reviewed and approved by Claude Duplessis from Goldminds Geoservices: independent Qualified Person under NI 43-101 standards.

ABOUT MAYA

Maya Gold & Silver Inc. is a Canadian listed mining corporation focused on the exploration and development of gold and silver deposits in Morocco. Maya is initiating mining and milling operations at its Zgounder Mine. Zgounder Millenium Silver Mining ("ZMSM"), the 85% owned joint venture with l'Office National des Hydrocarbures et des Mines ("ONHYM") of the Kingdom of Morocco (15%).

For further information on Maya, visit www.mayagoldsilver.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Zgounder Silver Mine

The decision to commence production at the Zgounder Silver Mine was not based on a feasibility study of mineral reserves demonstrating economic and technical viability, but rather on a pre-feasibility study. Accordingly, there is increased uncertainty and economic and technical risks of failure associated with this production decision. Production and economic variables may vary considerably, due to the absence of a complete and detailed site analysis according to and in accordance with NI 43-101.

Forward-looking statements

This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, and believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.

Contact

Maya Gold & Silver Inc.
Guy Goulet
Chief Executive Officer
450-435-0700 ext. 204
ggoulet@mayagoldsilver.com
Maya Gold & Silver Inc.
Nathalie Dion
Investor Relations
450-435-0700 ext. 202
ndion@mayagoldsilver.com
www.mayagoldsilver.com