MONTREAL, Feb. 28, 2022 /CNW Telbec/ - Aya Gold
& Silver Inc. (TSX: AYA) ("Aya" or the "Corporation")
is pleased to announce it has received regulatory approval of the
Environmental Impact Assessment ("EIA") for the expansion of its
Zgounder Silver Mine from the Moroccan Authorities. Aya is also
pleased to announce its partnership with the Biotechnology for
Sustainable Development in Africa Foundation ("BDA") to develop and
support local agribusinesses and provide access to international
markets in the Askaoun region in the Kingdom of Morocco.
"The granting of the EIA represents a major milestone for
Zgounder," said Benoit La Salle,
President & CEO. "This approval, along with our robust
expansion feasibility study, announced last week, provides us with
enough comfort to order long-lead construction items. We would like
to thank the Moroccan authorities and the communities who
collaborated with us diligently throughout the process to deliver
an expansion, which will benefit all stakeholders."
"Further, we are pleased to concurrently announce our inaugural
CSR partnership with the BDA Foundation, an international
non-profit organization to support Ecopreneurs and local
agricultural businesses in Morocco
to succeed in Africa's emerging
botanical and agricultural industry, in the cosmetics,
nutraceuticals, and biopharmaceuticals segments. This financial
investment has significant economic and social benefit and
highlights our commitment to deliver positive and measurable impact
to the community, including local community-based job creation over
the next 5 years."
BDA's approach, with 17 years of experience in sub-Saharan
Africa, is centered on the supply chain of high value botanicals,
allowing local entrepreneurs to capture the profits, instead of the
usual intermediaries. Thus, eco-companies, led by local
entrepreneurs, are trained, certified, and supported for the
start-up of their local SMEs, each creating local jobs in added
value products, contributing to the socio-economic inclusion of
local populations.
Aya is aligning its Biodiversity For the Development of the
Atlas region Program with national development strategies through
Morocco's Green Generation Program
and with international institutions' focus on value creation
through the development of agribusinesses and alignment with the
Nagoya Protocol.
About Aya Gold & Silver
Inc.
Aya Gold & Silver Inc. is a
rapidly growing, Canada-based
silver producer with operations in the Kingdom of Morocco.
The only TSX-listed pure silver mining company, Aya operates the
high-grade Zgounder Silver Mine and is exploring its properties
along the prospective South-Atlas Fault, several of which have
hosted past-producing mines and historical resources. Aya's
Moroccan mining assets are complemented by its Tijirit Gold Project
in Mauritania, which is being
advanced to feasibility.
Aya's management team has been focused on maximising shareholder
value by anchoring sustainability at the heart of its operations,
governance, and financial growth plans.
For additional information, please visit Aya's website at
www.ayagoldsilver.com.
Forward-Looking Statements
This press release may contain or incorporate by reference,
certain statements, other than historical facts, including but not
limited to any information as to the future financial or operating
performance of Aya, that constitute forward-looking information
within the meaning of applicable securities laws ("forward-looking
statements"), which reflects management's 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 news release.
Forward-looking statements include future events and
opportunities including, without limitation, statements with
respect to: exploration and development potential of Zgounder, our
estimates, expectations, forecasts and guidance, production costs
of sales, all-in sustaining cost and capital expenditures, cost
savings, project economics (including net present value and
internal rates of return) and other information contained in the
feasibility study; as well as references to other possible events,
the future price of silver, the estimation of mineral reserves and
mineral resources, the realization of mineral reserve and mineral
resource estimates, the timing and amount of estimated future
production, costs of production, estimates of necessary capital,
cost of capital, capital expenditures, costs and timing of the
development of the project and mining and processing activities,
permitting timelines, currency fluctuations, requirements for
additional capital, government regulation of mining operations, and
environmental risks.
Wherever possible, words such as "develop", "support",
"provide", "comfort", "commit", "deliver", "support",
"contribute", "confirm", "intend", 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.
Although the forward-looking information contained in this press
release reflect management's current beliefs based upon information
currently available to management and based upon what management
believes to be reasonable assumptions, Aya cannot be certain that
actual results will be consistent with such forward-looking
information. Such forward-looking statements are based upon
assumptions, opinions and analysis made by management in light of
its experience, current conditions, and its expectations of future
developments that management believe to be reasonable and relevant
but that may prove to be incorrect. Aya cautions you not to place
undue reliance upon any such forward-looking statements.
The risks and uncertainties that may affect forward-looking
statements include, among others: the inherent risks involved in
exploration and development of mineral properties, including 1)
there being no significant disruptions affecting the operations of
the Corporation whether due to COVID-19 restrictions, artisanal
miners, access to water, extreme weather events and other or
related natural disasters, labour disruptions, supply disruptions,
power disruptions, damage to equipment or otherwise; (2)
permitting, development, operations and production from the
Zgounder project being consistent with the Corporations'
expectations; (3) political and legal developments in the Kingdom
of Morocco being consistent with
its current expectations; (4) the exchange rate between the U.S.
dollar and the Moroccan Dirham being approximately consistent with
current levels; (5) certain price assumptions for silver; (6)
prices for diesel, process reagents, fuel oil, electricity and
other key supplies being approximately consistent with current
levels; (7) production and cost of sales forecasts meeting
expectations; (8) the accuracy of the current mineral reserve and
mineral resource estimates of the Corporation; (9) labour and
materials costs increasing on a basis consistent with the
Corporation's current expectations; and (10) asset impairment (or
reversal) potential, being consistent with the Corporation's
current expectations. Known and unknown factors could cause actual
results to differ materially from those projected in the
forward-looking statements. All of the forward-looking statements
made in this news release are qualified by these cautionary
statements and those made in our other filings with the securities
regulators of Canada including,
but not limited to, the cautionary statements made in the "Risk
Factors" section of our Annual Information Form dated March 31, 2021 and the "Risk Analysis" section of
our Q3/2021 Management's Discussion & Analysis and in other
filings of Aya with securities and regulatory authorities which are
available on SEDAR at www.sedar.com. These factors are not intended
to represent a complete list of the factors that could affect the
Corporation. Aya disclaims any intention or obligation to update or
revise any forward-looking statements or to explain any material
difference between subsequent actual events and such forward
looking statements, except to the extent required by applicable
law.
SOURCE Aya Gold & Silver
Inc