Maya Gold and Silver Inc (fka MYA)

[SPARK]

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.