Aya Gold & Silver Reports High-Grade Drill Exploration Results at Boumadine

PRESS RELEASE

Aya Gold & Silver Reports High-Grade Drill Exploration Results at Boumadine

Montreal, Quebec, September 22, 2026 - Aya Gold & Silver Inc. (TSX: AYA; NASDAQ: AYA) (“Aya” or the “Company”) is pleased to report new high-grade drill exploration results at the Boumadine Project (“Boumadine” or the “Project”) from its ongoing infill drill program in the Kingdom of Morocco. These results confirm strong high-grade continuity along the Boumadine Main Trend and support the potential for continued resource growth.

Highlights¹

Boumadine Main Trend (5.4km)

• Multiple additional high-grade intercepts:
  • BOU-DD26-848 intercepted 392 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 24.3 metres (“m”) (0.61 g/t gold (“Au”), 239 g/t silver (“Ag”), 2.6% zinc (“Zn”), and 1.9% lead (“Pb”), including 776 g/t AgEq over 10.0m (1.08 g/t Au, 488 g/t Ag, 5.2% Zn, and 3.9% Pb).
  • BOU-DD26-883 intercepted 593 g/t AgEq over 15.2m (1.05 g/t Au, 319 g/t Ag, 5.3% Zn and 3.5% Pb), including 1,038 g/t AgEq over 4.2m (1.81 g/t Au, 586g/t Ag, 8.1% Zn and 6.2% Pb).
  • BOU-DD26-0950 intercepted 299 g/t AgEq over 15.1m (1.70 g/t Au, 98 g/t Ag, 1.7% Zn and 0.6% Pb).
  • BOU-DD26-861 intercepted 1,030 g/t AgEq over 4.1m (1.06 g/t Au, 794 g/t Ag, 4.2% Zn, and 1.8% Pb) including 2,827 g/t AgEq over 1.0m (1.90 g/t Au, 2,477g/t Ag, 3.4% Zn and 3.2% Pb).
  • BOU-DD26-834 intercepted 696 g/t AgEq over 5.7m (2.70 g/t Au, 342 g/t Ag, 3.8% Zn and 1.3% Pb) and 277 g/t AgEq over 6.9m (0.56 g/t Au, 151g/t Ag, 2.1% Zn and 1.4% Pb).
• Exploration Update:
  • 145,719m drilled at Boumadine year-to-date.
  • 38.6% of the 360,000m infill program, to be carried out over 2026 and 2027, has been completed.

"Today's high-grade results continue to demonstrate the continuity, width and potential at Boumadine," said Benoit La Salle, President & CEO. "With over 145,000 metres drilled year-to-date and 14 drills

currently turning, we are aggressively advancing the 2026–2027 infill and expansion program ahead of the updated Feasibility Study expected next year."

Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)

1. Ag equivalent is based on a silver price of US$30/oz with a process recovery of 96%, a gold price of US$2,800/oz with a process recovery of 96%, a zinc price of US$1.20/lb with a process recovery of 75%, a lead price of US$1.00/lb with a process recovery of 82%, and a copper price of US$4.60/lb with a process recovery of 75% resulting in the following ratios: 1g/t Au: 89.7g/t Ag; 1% Cu: 78.6 g/t Ag; 1% Pb: 18.7 g/t Ag; and 1% Zn: 20.4 g/t Ag.

2. True width remains undetermined at this stage; all values are uncut.

Figure 1: Boumadine Mining Licence Surface Plan with Magnetic Data (Residual Total Field) and 2026 Drill Holes

2026 Exploration Results

This year, 406 diamond drill holes (“DDH”), totaling 145,719m have been completed at Boumadine (Figure 1 and Appendix 2). Drilling was done on strike along the Main Trend, Tizi and Imariren. All results have been received for drill holes up to BOU-DD26-1028 (Table 1, Figure 2, Figure 3 and Appendix 1).

Today’s results, including BOU-DD26-848 and BOU-DD26-883, confirm the high-grade nature and continuity of the Boumadine Main Trend, which remains open in all directions.

Mineralization within the Boumadine Main Trend measures up to 4m wide (locally reaching over a 10m width) and is N340-oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins (>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite. Tizi and Imariren share the same characteristics except for their N000 orientation.

Figure 2 – Surface Plan of Boumadine South Zone with New DDH Results Figure 3 – Surface Plan of Boumadine North Zone with New DDH Results

Next Steps

Infill drilling, following the latest positive preliminary economic assessment (“PEA”), will be ongoing for the next 15 months with a drill program of approximately 360,000m planned.

Significant potential exists to expand the Boumadine Main Trend (currently 5.4 km), the Tizi Zone (2.0 km) and the Imariren Zone (1.2 km), with all three trends open in all directions. Follow-up drilling is also planned on the 8 km Asirem trend for later this year.

Most drilling will continue to focus on the Main Trend, Imariren and Tizi to extend known mineralization along strike and at depth, while infilling key areas to advance the Project toward a Feasibility Study (“FS”). The balance of the 2026 program (~20,000m) will target Asirem follow-up and greenfield exploration, testing geological hypotheses and targets generated over the past four years. Ongoing geological work will guide additional development priorities.

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core and RC chips. For core drilling, all individual samples represent approximately one metre in length of core, which is halved. Half of the core is kept on site for reference, and its counterpart is sent for preparation and assaying to African Laboratory for Mining and Environment (“Afrilab”) in Marrakech, Morocco. For drilling using RC, all individual samples represent 1.0m in length and a representative portion is kept for every metre in some chip trays stored on site. A split samples representing 1/16th, ranging from 2 to 4 kilogram is sent for preparation and assaying to African Laboratory for Mining and Environment (“Afrilab”) in Marrakech, Morocco.

All samples are analyzed for silver, copper, iron, lead, zinc, tin, and molybdenum using Aqua regia and finished by atomic absorption spectroscopy (“AAS”). Samples grading above 200 g/t Ag are reanalyzed using fire assaying. Gold is assayed by fire assaying. Standards of different grades and blanks were inserted every 20 samples in addition to the standards, blanks and pulp duplicate inserted by Afrilab.

Qualified Person

The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, P. Geo, Executive Vice-President Exploration, who is a “Qualified Person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), for accuracy and compliance with NI 43-101.

About Aya Gold & Silver Inc.

Aya Gold & Silver is a Canadian precious metals mining company anchored in Morocco and active across the full mining value chain. The Company has established an exploration track record through a systematic, technology-led, data-driven approach and is focused on expanding its resource base and land package along the Anti-Atlas fault — one of Africa’s most geologically rich, underexplored and miningfriendly regions.

Aya operates Zgounder, a rare, silver-only mine, producing silver doré from its new processing facility. Aya’s growth pipeline includes the Boumadine polymetallic project, where feasibility study work is underway, and which hosts a sizable mineralized footprint, and potential for further discovery.

Led by a proven team of mining professionals, Aya is guided by a vision of responsible mining and is committed to delivering sustainable value for shareholders, employees and host communities.

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

Or contact

Benoit La Salle, FCPA, MBA Alex Ball

President & CEO EVP, Capital Markets

[email protected] [email protected]

Forward-Looking Statements

This press release contains “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws and other statements that are not historical facts. Forward-looking statements are included to provide information about management’s current expectations, estimates and projections regarding Aya’s future growth and business prospects (including the timing and development of deposits and the success of exploration activities) and other opportunities as of the date of this press release.

All statements, other than statements of historical fact included in this press release, regarding the Company’s strategy, future operations, technical assessments, prospects, plans and objectives of management are forward-looking statements that involve risks and uncertainties. Wherever possible, words such as "aim", "anticipate", "assume", "believe", "estimate", "expect", "goal", "guidance", "intend", "objective", "plan", "potential", "strategy", "target", 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. Forward-looking statements in this press release include, but are not limited to, statements with respect to: the potential for continued mineral resource growth and further expansion of mineralization along the Boumadine Main Trend in all directions; the Boumadine 2026 and 2027 exploration program; the expected completion date and content of the Boumadine feasibility study; the next steps with respect to the development and exploration of the Boumadine project, including infill drilling over the next 15 months, a drill program of approximately 360,000 m, follow-up drilling on the 8 km Asirem trend, testing and geological work.

Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company’s forward-looking information is based include without limitation, assumptions regarding development and exploration activities; the Company’s ability to execute its business plans and objectives; the ability to commence and successfully execute planned drilling and exploration activities; the accuracy of the Company’s geological interpretations and the continuity of mineralization in areas targeted for exploration; the continued validity and good standing of the mining titles necessary to conduct the planned exploration activities; the timely receipt of necessary approvals or permits; the ability to obtain timely financing on reasonable terms when required; future social, economic and political conditions remaining consistent with those currently prevailing; the availability of qualified contractors, consultants, suppliers, equipment, materials and labour on commercially reasonable terms; the cooperation of government authorities, municipalities and other stakeholders; future drilling results being generally consistent with the Company’s expectations and current geological interpretations; the ability to complete planned infill and exploration drilling substantially in accordance with the anticipated scope and timelines; the availability and reliability of the technical, geological, metallurgical, engineering, environmental and economic information required to complete the feasibility study within the scope currently contemplated; and the successful completion of the required studies and the feasibility study within the anticipated timeframe.

Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, any of which could have a material adverse effect on the Company’s business, financial condition, results of operations and growth prospects. Some of the risks the Company faces and the uncertainties that could cause actual results to differ materially from those expressed in the forwardlooking statements include, among others: Aya’s ability to execute on its plans relating to the Boumadine Project, including the timing thereof; the speculative nature of mineral exploration and development; the inherent risks involved in the exploration and development of mineral properties; the risk that exploration, drilling, testing and geological work may not result in the discovery of additional mineralization or the expansion or conversion of mineral resources as anticipated; the risk that future drilling results may not be consistent with the Company’s expectations or current geological interpretations; the risk that the continuity, grade and extent of mineralization may differ from current interpretations and estimates; risks and uncertainties relating to the timing, scope, completion and results of the Company’s planned exploration and drilling programs; risks and uncertainties relating to the timing, scope, assumptions, conclusions and results of the feasibility study; the risk that geological, metallurgical, engineering, environmental and other technical information required to complete the feasibility study may be unavailable, incomplete or unreliable; risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents and unusual or unexpected geological or structural formations; risks related to Aya’s operations in Morocco; Aya’s ability to obtain and renew necessary permits and licences; restrictions on mining and changes in laws and regulations governing exploration and development activities in the jurisdictions in which Aya operates; inadequate or unreliable infrastructure; Aya’s ability to attract and retain qualified employees and contractors and the availability of qualified contractors, consultants, suppliers, equipment and materials; Aya’s ability to obtain financing when required on acceptable terms; unforeseen expenses and cost increases; disruptions to Aya’s business operations; third-party risks; occupational health and safety risks; climate change and weather disruptions; general economic conditions; competition risk; force majeure; and other risks described in the Company’s documents filed with Canadian and U.S. securities regulatory authorities.

In addition, readers are directed to carefully review the detailed risk discussion in the Company’s Annual Information Form and Management’s Discussion & Analysis for the year ended December 31, 2025, filed on SEDAR+ and on EDGAR, which discussions are incorporated by reference in this press release, for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties, and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.

Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Company’s business plans, financial performance and condition and may not be appropriate for other purposes.

The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.

The Company may make decisions to advance the development of its mineral projects prior to the completion of a feasibility study establishing mineral reserves that demonstrate economic and technical viability. The decision to proceed with development in the absence of such a feasibility study involves materially greater technical and economic risks, including increased uncertainty as to mineral recovery, capital and operating costs, production rates, mine design and overall economic viability. There can be no assurance that any project advanced on this basis will ultimately be technically or economically viable or achieve the anticipated results.

Appendix 1 - Full Drill Results from Boumadine (core lengths)

From To Au Ag Length* Cu Pb Zn Mo Ag Eq** DDH No.