Aya Gold & Silver: Record Quarterly Silver Production of 439,149 Ounces

MONTREAL, July 13, 2021 - Aya Gold & Silver Inc. (TSX: AYA) ("Aya" or the "Corporation") is pleased to announce record quarterly silver production of 439,149 ounces in Q2 2021 at an average head grade of 297 grams per tonne silver from its Zgounder Silver Mine in the Kingdom of Morocco.

Key Highlights

• Produced 439,149 ounces ("oz") of silver ("Ag") in Q2 2021 compared to 389,132 oz of Ag in Q1 2021
• Improved silver recovery of 84.2% at the flotation plant in Q2 2021 compared to 81.9% in Q1 2021
• Successful four-day planned shutdown at the flotation plant

Q2 2021 Production

"For a third consecutive quarter, Zgounder's operational performance demonstrated the robustness of the operational changes implemented into the turnaround last year. Production is now running at a steady run rate, with tonnes, grade and recoveries coming in ahead of full-year guidance. First-half silver production is now tracking well over the midpoint of our 2021 guidance, driven by our operating team's commitment to improving efficiencies and best execution," said Benoit La Salle, President & CEO.

Ongoing Operational Optimisation

Silver recovery for the flotation plant improved to 84.2% in Q2 2021 from 81.9% in Q1 2021. The slight decrease in Q2 2021 recoveries to 78.8% at the cyanidation plant compared to 83.7% in Q1 2021 was expected and has been budgeted for during the hot summer months.

In the quarter, plant availabilities reached 86% and 93% for the flotation and cyanidation plants, respectively. Availability at the flotation plant was impacted by a four-day planned shutdown. The maintenance plan is progressing well, and overall availability increased compared to the previous quarter.

Q2 2021 Financial and Operational Results
Aya's Q2 2021 financial results will be released before market-open on August 13, 2021.

About Aya Gold & Silver Inc.
Aya Gold & Silver Inc. is a rapidly growing, Canada-based silver producer with operations in the Kingdom of Morocco.

The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past-producing mines and historical resources. Aya's Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.

Since its appointment in mid-2020, Aya's new management team has been focused on maximising shareholder value by anchoring sustainability at the heart of its production, resource, governance, and financial growth plans.

For additional information, please visit Aya's website at www.ayagoldsilver.com.

Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"), which reflects management's expectations regarding Aya's future growth and business prospects (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as "plans", "expects", "does not expect", "scheduled", "trends", "indications", "potential", "estimates", "predicts", "anticipate", "to establish", "does not anticipate", "believe", "intend", "ability to" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might", "will", or are "likely" to be taken, occur or be achieved, have been used to identify such forward-looking information. Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to the exploration and development potential of Zgounder and the conversion of Inferred Mineral Resources into Measured and Indicated Mineral Resources, future opportunities for enhancing development at Zgounder, and timing for the release of the Company's disclosure in connection with the foregoing. Although the forward-looking information contained in this press release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Aya cannot be certain that actual results will be consistent with such forward-looking information. Such forward-looking statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments that management believe to be reasonable and relevant but that may prove to be incorrect. These assumptions include, among other things, the closing and timing of financing, the ability to obtain any requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), silver price, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. Aya cautions you not to place undue reliance upon any such forward-looking statements.

The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of silver and other key inputs, changes in mine plans (including, but not limited to, throughput and recoveries being affected by metallurgical characteristics) and other factors, such as project execution delays, many of which are beyond the control of Aya, as well as other risks and uncertainties which are more fully described in Aya's 2020 Annual Information Form dated March 31, 2021, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR at www.sedar.com. Aya does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise.

SOURCE Aya Gold & Silver Inc.