Maya Gold and Silver Inc (fka MYA)

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Montreal, Québec, July 30, 2020 (GLOBE NEWSWIRE) -- Maya Gold & Silver Inc. ( ”Maya” or the “Corporation”) (TSX: MYA) wishes to announce that it has received the approval from the Toronto Stock Exchange (the “Exchange”) to change the name of the Corporation from Maya Gold & Silver Inc. to Aya Gold & Silver Inc./Aya Or & Argent Inc. Effective at market open on July 31, 2020, the Corporation will begin trading under its new name of Aya Gold & Silver Inc./Aya Or & Argent Inc.

https://www.globenewswire.com/news-release/2020/07/30/2070207/0/en/MAYA-GOLD-SILVER-INC-ANNOUNCES-NAME-CHANGE-AND-POSTPONEMENT-OF-FILING-ITS-Q2-FINANCIAL-STATEMENTS.html

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Follow the Silver trend http://investorshub.advfn.com/SILVERBUGS-18808/

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http://mayagoldsilver.com/wp-content/uploads/2012/04/Maya-MDA_Q1_Finale.pdf

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Highlights of the Zgounder Silver Mine PFS Study include:

- An anticipated mine life of 6 years with the current established reserves and an internal rate of return of 128 per cent;

- Net present value of US$27.9 million (discounted at 6.5 per cent) at a silver price of US$20.50 per ounce;

- First year silver production of 582,600 ounces, followed by two years at 885,400 ounces, and the final three years at 914,000 ounces per year;

Management’s Discussion and Analysis For the three months ended March 31, 2016

- Mill feed grade estimated at 317 g/t Ag;

- Total operating cost of US$109.50 per tonne (averaged over the expected mine’s life);

- Additional capex requirements totalling US$3.8 million, which include the proposed concentrator expansion;

- The Zgounder PFS was prepared strictly for an underground mine and based solely on the measured and indicated mineral resources reported on February 19, 2014.

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Maya Gold & Silver: Operations Started at Zgounder Silver Mine

Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE:MYA) The Board of Directors and Management of the Corporation are very pleased to announce the milling operations have started at Maya's flagship Zgounder Silver
Mine in Morocco.


Ore grading an average of 245 g/t Ag is now being processed. The ore being run through the mill is being sourced from the 35,000 tonnes of mineralized rocks that were transferred to storage areas adjoining the plant from the existing 66,000 tonnes of "ancient stockpiles". The size of this stockpile can sustain
over six months of production at the initial rate of approximately 200 tpd.
Silver recovery is expected to be in the range of 92%. The Company is not basing its production decision on a feasibility study of mineral reserves demonstrating economic and technical viability.


"The mill start-up at Zgounder is a significant key milestone in the successful development of Maya as an operating resource company, and we recognize and thank
our President, Noureddine Mokaddem, and the local and Moroccan Government offices who have just provided the Company with a very precious tool in a difficult period of the mining industry: a stable and upwardly potential cash flow stream", stated Guy Goulet, Chief Executive Officer.