Maya Gold & Silver Announces Board of Directors and Executive Officers

MONTREAL, QUEBEC -- (Marketwire) -- 06/20/12 -- Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE: MYA) held its Annual and Special Meeting of Shareholders yesterday, in Montreal, at which Meeting : John Booth, Rene Branchaud, Rejean Gosselin, Guy Goulet, Noureddine Mokaddem, Martin Wong and Roland Wismer were re-elected as directors of the Corporation.

PricewaterhouseCoopers LLP have been appointed as auditors of the Corporation for the ensuing year and the directors have been authorized to fix their remuneration.

Subsequent to the annual meeting of shareholders, the Board of Directors appointed Rejean Gosselin as Chairman of the Corporation, Guy Goulet as President and Chief Executive Officer, Noureddine Mokaddem as Executive Vice-President and Chief Operating Officer, Alain Krushnisky as Chief Financial Officer and Luce L. Saint-Pierre as Corporate Secretary.

Shareholders also approved the amendment of the Corporation's Stock Option Plan ("Stock Option Plan") increasing to 7,000,000 the number of Common Shares reserved and set aside for the issuance under the Stock Option Plan.

ABOUT MAYA

Maya Gold & Silver Inc. is a Canadian-based mining company focused on the exploration and development of gold and silver deposits located in Morocco. Maya is listed on the TSX Venture under the symbol MYA. The Company is committed to developing and adding value to its Moroccan properties.

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

Neither the 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.

Contacts:

Maya Gold & Silver Inc.

Guy Goulet

President and Chief Executive Officer

450-435-0700 ext. 204
ggoulet@mayagoldsilver.com