Company Overview

Aya Gold & Silver Inc. is a Canadian-based precious metals mining company focused primarily on the exploration, development, and production of silver assets. The company operates within the mining and metals industry, with a strategic emphasis on high-grade silver resources. Its core revenue is generated from silver production, with by-product gold, positioning Aya as a leveraged silver producer rather than a diversified precious metals miner.

The company’s flagship asset is the Zgounder Silver Mine, which underpins Aya’s operational and financial profile. Aya differentiates itself through its concentration on a single jurisdiction, Morocco, where it has built technical expertise, regulatory familiarity, and long-standing relationships. Founded in 2007 (originally under a different corporate name), the company evolved from an exploration-focused junior miner into a producing company following the successful redevelopment and restart of Zgounder, marking its transition to cash-flow generation.

Business Operations

Aya Gold & Silver’s operations are organized around its Moroccan mining portfolio, with production, development, and exploration activities centered on silver-rich properties. The company generates revenue primarily from the sale of silver concentrate produced at the Zgounder Silver Mine, which is currently its only producing asset. Mining, processing, and on-site infrastructure are operated through Moroccan subsidiaries under Aya’s direct control.

In addition to production, Aya maintains an active exploration and development pipeline, including the Boumadine Project, a large-scale polymetallic exploration asset containing silver, lead, zinc, and gold mineralization. The company does not operate smelting or refining facilities and instead sells concentrates to third-party buyers. Operations are supported by in-house geological, engineering, and operational teams, with no disclosed joint ventures on its core assets.

Strategic Position & Investments

Aya’s strategic direction is focused on increasing silver output, extending mine life, and advancing exploration assets toward potential development. A major growth initiative is the expansion of processing capacity at the Zgounder Silver Mine, designed to significantly increase annual silver production and reduce unit operating costs through economies of scale.

The company has also made sustained investments in exploration drilling, particularly at Boumadine, which Aya considers a potential future cornerstone asset. Aya’s strategy emphasizes organic growth rather than large-scale mergers or acquisitions, and there are no publicly disclosed material acquisitions outside of mineral property interests. Emerging priorities include resource expansion, reserve conversion, and operational optimization, rather than diversification into non-silver commodities or unrelated sectors.

Geographic Footprint

Aya Gold & Silver’s operational footprint is concentrated entirely in Morocco, which represents both its primary production base and exploration jurisdiction. The company’s corporate headquarters are located in Canada, while all mining, processing, and exploration activities are conducted in North Africa, specifically within Morocco’s Anti-Atlas and Eastern regions.

While Aya does not operate across multiple continents, its focused geographic strategy provides depth rather than breadth, allowing for operational efficiencies and regulatory consistency. The company sells its silver into international markets, giving it indirect exposure to global precious metals demand despite its single-country operational base.

Leadership & Governance

Aya Gold & Silver is led by an executive team with experience in mining operations, project development, and capital markets. The leadership emphasizes disciplined capital allocation, operational execution, and shareholder alignment, with a stated focus on building a sustainable, high-grade silver producer.

Key executives include:

• Benoit La Salle – President and Chief Executive Officer
• Youssef Laassel – Chief Operating Officer
• Caroline Donnelly – Chief Financial Officer
• Patrick Routhier – Vice President, Investor Relations and Corporate Communications
• Marc-Antoine Audet – Vice President, Corporate Development

The company is governed by a board of directors with experience in mining finance, engineering, and international operations, overseeing management’s execution of long-term growth and risk management objectives.