Maya Gold & Silver Intersects Very High Grade Ag at its Zgounder Silver Mine

MONTREAL, QUEBEC--(Marketwired - Jul 12, 2017) - Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE:MYA) is very pleased to announce the highest intersection ever drilled by Maya since it took 85% ownership of the Zgounder property in Morocco.

The drillhole 2000-T28-17-124 intersected 3809 g/t Ag over 18 meters from 3.6 to 21.6 meters. This new intersection includes higher grade intervals including 9430 g/t over 7.2m from 4.8 to 12m and including 51.6 Kg/t Ag (51630 g/t or 5.16% or 1660 Oz/t Ag) over 1.2 meters at 6m. This percussion drillhole collared in a manway at elevation 2016mZ in the north sector within Panel 8. It is collared at 275925.78E, 420394.7N, 2016Z drilled North-East (63N) 15 degrees up dip.

Uncut Ag results. (20smp)* the 51630 g/t is the average of 20 analysis ranging from 4.41% to 5.79% Ag, 10 from original powder at the laboratory and 10 from the witness powder from the geology department. This is drill length, additional drilling is required to define the exact geometry of this high-grade intersection.

"The exceptional intersection at the 2000 level is breaking new grounds with this 5.16%/t Ag. This discovery supports that all extensions of the Zgounder deposit remain open at depth and in all sides and could provide us with more promising surprises in the future with an opportunity for further Resource expansion. In addition, traces from ancient mining activities and from previous contemporary operators focused on only small portions of the mine, leaving vaster potential for exploration and additional discoveries." said Noureddine Mokaddem, President and CEO of Maya.

Quality Control / Quality Assurance (QA/QC)

The results include blanks and standards as normal control procedures at the mine. The mine laboratory has also carried out duplicates to confirm repeatability of results. The high grade interval was assayed 20 times under witnesses prior to disclosure. The results are considered to be reliable for disclosure as laboratory procedures and QA/QC were reviewed in previous assignment by independent QP. Assays are not capped; Ag by AA intersected disclosure are variable according to the Cut Off Grade applied for large scale mining or selective mining scenario.

Qualified Persons

The technical content of this news release has been prepared and reviewed on the basis of information received from the ZMSM as well as personally collected during site visits by Claude Duplessis Eng. Geological Engineer from GoldMinds Geoservices Inc, independent Qualified Person under NI 43-101 standards.

ABOUT MAYA

Maya Gold & Silver Inc. is a Canadian publicly 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 owned by ZMSM, a Maya 85% owned joint venture with l'Office National des Hydrocarbures et des Mines of the Kingdom of Morocco (15%).

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

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.:
Noureddine Mokaddem
President & CEO
+1 514-978-6111/+212 661-196-111
nmokaddem@mayagoldsilver.com
Maya Gold & Silver Inc.:
Nathalie Dion
Investor Relations
514-866-2008
ndion@mayagoldsilver.com