Nouveau Monde Graphite Inc. press release

Aya Gold & Silver Reports Best Ever Mineral Intercept at Boumadine and Identifies New High-Grade Parallel Structure

2025-11-26

TSX - Toronto Stock Exchange · Graphite · Canada

Aya Gold & Silver Reports Best Ever Mineral Intercept at Boumadine and Identifies New High-Grade Parallel Structure

MONTREAL, Nov. 26, 2025 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“ Aya ” or the “ Corporation ”) is pleased to announce its strongest mineralized intercept to date, featuring a long, high-grade interval that results in a record metal factor, alongside the identification of a new high-grade parallel structure, both from the ongoing 2025 drill program at Boumadine in the Kingdom of Morocco. The results, several of which sit outside the current PEA pit shell, confirm strong high-grade continuity along the Boumadine Main Trend and supports the potential for continued resource growth and the Project’s emerging world-class scale.

Highlights 1

Boumadine Main Trend (5.4km)

Best-ever mineralized intercept: BOU-MP25-087 intercepted 2,323 g/t silver equivalent (“AgEq”) over 15.0 metres (“m”) (3.31 g/t Au, 1,900 g/t silver (“Ag”), 4.8% zinc (“Zn”), 1.8% lead (“Pb”) and 0.03% copper (“Cu”), including 3,858 g/t AgEq over 8.7m (5.37 g/t Au, 3,208 g/t Ag, 6.3% Zn, 2.8% Pb and 0.05% Cu).

New high-grade parallel structure with a long, continuous mineralized interval: BOU-DD25-623 intercepted 540 g/t AgEq over 47.3m (0.94 g/t Au, 399 g/t Ag, 1.4% Zn, 1.2% Pb and 0.03% Cu), including 681 g/t AgEq over 10.6m (1.84 g/t Au, 489 g/t Ag, 1.3% Zn, 0.6% Pb and 0.04% Cu) and 1,286 g/t AgEq over 11.7m (1.55 g/t Au, 1,002 g/t Ag, 3.0% Zn, 3.5% Pb and 0.1% Cu).

The newly identified parallel structure is significant due to its width and high-grade nature, opening further exploration potential. As a newly recognized zone within the Main Trend, it holds the potential to positively impact the overall resource.

Multiple additional high-grade intercepts: BOU-RC25-026 intercepted 3,336 g/t AgEq over 6.0m (37.03 g/t Au, 334 g/t Ag, 2.8% Zn, 1.0% Pb and 0.2% Cu), including 8,163 g/t AgEq over 2.0m (102.38 g/t Au, 94 g/t Ag, 2.4% Zn, 1.0% Pb and 0.1% Cu) – located approximately 75m south of the current Central pit shell.

BOU-DD25-633 intercepted 862 g/t AgEq over 3.1m (9.82 g/t Au, 51 g/t Ag, 1.2% Zn, 0.1% Pb and 0.2% Cu), including 1,983 g/t AgEq over 1.2m (23.66 g/t Au, 82 g/t Ag, 1.2% Zn, 0.1% Pb and 0.3% Cu).

BOU-RC25-043 intercepted 268 g/t AgEq over 9.0m (2.69 g/t Au, 45 g/t Ag, 0.1% Zn, 0.1% Pb and 0.1% Cu), including 432 g/t AgEq over 5.0m (4.44 g/t Au, 67 g/t Ag, 0.1% Zn, 0.1% Pb and 0.2% Cu).

Exploration Update: 133,003m drilled at Boumadine year to date.

“The new high-grade parallel structure in the southern portion of Boumadine’s Main Trend with hole BOU-DD25-623, together with our best-ever mineralized intercept in hole BOU-MP25-087, a 15.0m interval of exceptionally high-grade 2,323 g/t AgEq, confirms that Boumadine still has substantial upside to unlock,” said Benoit La Salle, President & CEO. “These large, high-grade intervals – including the newly identified southern parallel structure and mineralization outside the current PEA pit shells, highlighted by the wide, high-grade BOU-RC25-026 intercept located 75 metres south of the current Central pit shel l – all point to a growing resource, larger ultimate pit extents, and increasing scale. With nine drill rigs active, we are completing the 2025 exploration program and kicking off the 360,000-metre infill program outlined in the PEA, with up to 12 to 16 drill rigs expected to be operational in the first quarter, demonstrating Boumadine’s world-class potential.”

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

DDH No.

From To Au Ag Length* Cu Pb Zn Mo Ag Eq**

(m) (m) (g/t) (g/t) (m) (%) (%) (%) (g/t) (g/t)

BOU-DD25-599 493.3 495.1 3.74 192 1.8 0.3 0.5 0.6 3 533

BOU-DD25-602 280.2 286.2 2.22 30 6.0 0.1 0.2 0.7 18 236

Including 282.9 284.9 4.81 48 2.0 0.2 0.2 0.6 25 458

BOU-DD25-602 304.9 305.9 2.20 408 1.0 0.4 0.3 0.1 11 623

BOU-DD25-606 274.4 276.4 7.71 65 2.0 0.3 0.1 0.1 7 700

BOU-DD25-608 384.5 386.5 5.21 244 2.0 0.2 0.7 0.7 8 704

BOU-DD25-613 170.0 173.1 9.82 51 3.1 0.2 0.1 1.2 5 862

Including 170.0 171.2 23.66 82 1.2 0.3 0.1 1.2 2 1,983

BOU-DD25-617 558.5 561.2 2.82 35 2.7 0.1 0.0 0.0 10 266

BOU-DD25-622 248.0 249.0 0.03 114 1.0 0.2 5.7 10.7 23 535

BOU-DD25-623 182.9 230.2 0.94 399 47.3 0.0 1.2 1.4 44 540

Including 189.0 199.6 1.84 489 10.6 0.0 0.6 1.3 30 681

Including 216.5 228.2 1.55 1,002 11.7 0.1 3.5 3.0 75 1,286

BOU-DD25-623 694.0 698.3 1.02 97 4.3 0.1 0.1 0.1 10 186

BOU-DD25-627 776.1 777.5 4.60 36 1.4 0.3 0.1 0.0 5 424

BOU-DD25-633 275.8 282.0 0.55 293 6.2 0.0 4.3 2.1 193 498

BOU-DD25-633 314.3 319.0 1.45 69 4.7 0.1 0.8 5.3 77 339

BOU-MP25-081 83.0 90.0 0.60 257 7.0 0.1 4.1 4.0 8 506

BOU-MP25-081 145.0 151.0 0.73 57 6.0 0.1 1.0 1.7 89 188

BOU-MP25-081 183.0 185.0 1.73 240 2.0 0.0 3.2 5.1 1127 602

BOU-MP25-081 196.0 201.0 0.55 349 5.0 0.1 1.6 2.3 181 499

BOU-MP25-086 352.4 356.0 0.95 44 3.6 0.0 0.9 2.0 22 191

BOU-MP25-087 112.0 117.0 0.69 209 5.0 0.0 2.0 3.2 36 396

BOU-MP25-087 138.4 153.4 3.31 1,900 15.0 0.0 1.8 4.8 126 2,323

Including 142.0 150.7 5.37 3,208 8.7 0.0 2.8 6.3 167 3,858

BOU-MP25-087 160.0 164.8 1.18 311 4.8 0.0 4.0 4.4 282 614

BOU-MP25-088 539.5 543.5 1.24 57 4.0 0.1 0.5 3.6 15 261

BOU-MP25-088 584.6 588.1 1.16 32 3.5 0.1 0.5 0.1 4 148

BOU-MP25-092 320.0 322.3 0.78 361 2.3 0.0 3.1 3.6 1094 610

BOU-RC25-026 50.0 56.0 37.03 334 6.0 0.2 1.0 2.8 90 3,336

Including 50.0 52.0 102.38 94 2.0 0.1 1.0 2.4 94 8,163

BOU-RC25-027 133.0 137.0 2.10 94 4.0 0.2 1.0 5.3 18 432

BOU-RC25-039 166.0 168.0 1.39 74 2.0 0.1 3.3 7.1 30 448

BOU-RC25-040 22.0 23.0 0.03 734 1.0 0.0 0.0 0.0 5 737

BOU-RC25-043 146.0 149.0 2.30 17 3.0 0.0 0.1 0.1 10 203

BOU-RC25-043 152.0 161.0 2.69 45 9.0 0.1 0.1 0.1 13 268

Including 154.0 159.0 4.44 67 5.0 0.2 0.1 0.1 14 432

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

(1) Ag equivalent is based on a silver price of US$24/oz with a process recovery of 89%, a gold price of US$2,200/oz with a process recovery of 85%, a zinc price of US$1.20/lb with a process recovery of 72%, a lead price of US$1.00/lb with a process recovery of 85%, and a copper price of US$4.00/lb with a process recovery of 75% resulting in the following ratios: 1g/t Au: 77.9 g/t Ag; 1% Cu: 85.4 g/t Ag; 1% Pb: 24.2 g/t Ag; and 1% Zn: 24.6 g/t Ag

Figure 1: Boumadine Mining Licence Surface Plan with Magnetic Data (Residual Total Field) and 2025 Drill Holes

Figure 2: Boumadine Property Surface Plan with New Permits and 2025 Drill Holes

2025 Exploration Results

This year, 408 diamond drill holes (“DDH”), 59 reverse circulation holes (“RC”) and 20 multi-purpose drill holes (“MP”) totaling 133,003m have been completed at Boumadine (Figure 1, Figure 2 and Appendix 2). Drilling was conducted on strike along the Main Trend, Tizi, Imariren as well as on some regional targets. Most results have been received for drill holes up to BOU-DD25-612 (Table 1, Figure 3, Figure 4 and Appendix 1).

Today’s results highlight the best-ever mineralized interval received so far at Boumadine, with Hole BOU-MP25-087 returning a metal factor of 34,850 g*m (AgEq). Results received so far in 2025, including Holes BOU-RC25-026, confirm the high-grade continuity of the Main Trend, which remains open in all directions. In addition, Hole BOU-DD25-623 in the South identified a new high-grade parallel structure (Figure 6) that will require follow-up drilling.

Many significant intervals also demonstrate the potential to increase the size of the open-pits reported in Boumadine’s PEA earlier this year (Figures 3–6).

The main mineralization generally measures 1m to 4m wide (locally reaching over a 10m width) 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 3 – Surface Plan of Boumadine North, Imariren and Tizi Zones with New DDH Results

Figure 4 – Surface Plan of Boumadine South Zone with New DDH Results

Figure 5 – Section 7975N with Drill Hole BOU-RC25-026 in the Central Area of Boumadine with New DDH Results

Figure 6 – Section 6625N with Drill Hole BOU-DD25-623 in the South Area of Boumadine with New DDH Results

Next Steps

Infill drilling, following the positive PEA, will be ongoing for the next 24 months with a program of approximately 360,000m.

Significant upside potential exists to expand the Boumadine Main Trend, which currently extends 5.4km, the Tizi Zone, which currently extends 2.0km and the Imariren Zone, with a current extension of 1.2km; the three trends remain open in all directions. In addition, follow up drilling will take place at the 8km Asirem trend. Aya is currently completing the 140,000m drilling program and is set to begin the 2026 program ahead of schedule. Half of the drilling is focused along the Main Trend, Imariren and Tizi to continue extending the known mineralization trend along strike and at depth and to infill known areas advancing the project towards a preliminary economic assessment. The remaining 50% focus on greenfield exploration designed to test geological hypotheses and drill targets generated from the past three years of work. The results from ongoing geology work will determine additional development work.

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 meter 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 meter 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, Vice-President Exploration, Qualified Person, for accuracy and compliance with National Instrument 43-101.

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 Anti-Atlas Fault, several of which have hosted past-producing mines and historical resources.

Aya’s management team has been focused on maximizing 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 .

Or contact

Benoit La Salle, FCPA, MBA

President & CEO

Benoit.lasalle@ayagoldsilver.com Alex Ball

VP, Corporate Development & IR

alex.ball@ayagoldsilver.com

Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflects management’s expectations regarding Aya’s future growth and business prospects (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as “discover”, “identifies”, “world-class”, “confirms”, “potential”, “growth”, “upside”, “grow”, “larger”, “increase”, “advancing”, “expand”, “promising”, “expected”, “significant”, 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. Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to the continuity of the mineralization and its grade, the potential to meaningfully grow resources and for all deposits grow in any direction, the potential for any drilling result to confirm the existence of a new zone, , the new Asirem zone to extend to 10km as indicated by the geophysics, the new corridors to translate into new exploration opportunities, the existence of a significant upside to expand the Boumadine Main Trend and all related resource growth at Boumadine, and to execute on planned drilling in the area through the remainder of 2025 and 2026. 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. These assumptions include, among other things, the ability to obtain any requisite governmental approvals, obtaining regulatory permits for on-site work, importing goods and machinery and employment permits, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), the price of silver, the price of gold, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. 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 government approvals and permitting, changes in economic conditions, changes in the worldwide price of silver gold and other key inputs, changes in mine plans (including, but not limited to, throughput and recoveries being affected by metallurgical characteristics) and other factors, such as project execution delays, many of which are beyond the control of Aya, as well as other risks and uncertainties which are more fully described in Aya’s 2024 Annual Information Form dated March 31, 2025, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Aya does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs, and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise

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 Corporation’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 “anticipate”, “expect”, “plan”, “believe”, “objective”, “estimate”, “assume”, “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. Forward-looking statements in this press release include, but are not limited to statements with respect to opportunities for resource growth and expected next steps in the development of the Project.

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

DDH No.

From To Au Ag Length* Cu Pb Zn Mo Ag Eq**

(m) (m) (g/t) (g/t) (m) (%) (%) (%) (g/t) (g/t)

BOU-DD25-503 194.9 195.7 1.84 39 0.8 0.0 1.1 1.6 5 249

BOU-DD25-503 206.6 207.9 0.66 7 1.3 0.0 0.1 0.3 5 68

BOU-DD25-558 0.0 630.0 NSR

BOU-DD25-563 510.1 511.1 0.89 39 1.0 0.1 0.5 2.3 5 182

BOU-DD25-564 48.5 49.2 2.21 1 0.7 0.0 0.0 0.0 2 176

BOU-DD25-564 381.7 382.2 0.19 48 0.5 0.0 3.4 1.6 5 186

BOU-DD25-564 489.0 490.0 0.03 154 1.0 0.1 0.0 0.0 9 161

BOU-DD25-564 498.5 499.0 0.67 1 0.5 0.0 0.1 0.2 6 60

BOU-DD25-584 504.7 505.3 3.40 251 0.6 1.2 1.3 0.6 18 669

BOU-DD25-587 0.0 201.0 NSR

BOU-DD25-591 0.0 213.0 NSR

BOU-DD25-595 0.0 150.0 NSR

BOU-DD25-597 0.0 168.0 NSR

BOU-DD25-598 0.0 216.0 NSR

BOU-DD25-599 481.0 482.0 0.75 4 1.0 0.0 0.0 0.0 3 66

BOU-DD25-599 493.3 495.1 3.74 192 1.8 0.3 0.5 0.6 3 533

BOU-DD25-599 562.7 564.0 0.63 51 1.3 0.0 2.4 2.5 3 220

BOU-DD25-599 602.7 603.2 2.00 29 0.5 0.1 0.8 0.2 4 220

BOU-DD25-599 732.3 732.9 1.39 51 0.6 0.0 2.3 2.5 76 278

BOU-DD25-601 47.0 48.0 0.49 8 1.0 0.0 0.0 0.0 14 48

BOU-DD25-602 280.2 286.2 2.22 30 6.0 0.1 0.2 0.7 18 236

Including 282.9 284.9 4.81 48 2.0 0.2 0.2 0.6 25 458

BOU-DD25-602 301.5 303.3 0.53 29 1.8 0.0 0.1 0.1 17 78

BOU-DD25-602 304.9 305.9 2.20 408 1.0 0.4 0.3 0.1 11 623

BOU-DD25-602 317.0 318.0 1.39 153 1.0 0.3 0.8 0.3 4 314

BOU-DD25-602 345.4 346.2 0.30 76 0.8 0.1 3.5 3.4 32 276

BOU-DD25-602 409.6 411.8 2.09 35 2.2 0.1 0.2 0.4 4 223

BOU-DD25-602 686.9 687.7 0.51 59 0.8 0.0 0.8 1.4 3 155

BOU-DD25-603 0.0 330.0 NSR

BOU-DD25-604 0.0 459.0 NSR

BOU-DD25-605 89.0 90.0 0.92 1 1.0 0.0 0.0 0.0 6 74

BOU-DD25-605 712.0 713.0 1.10 6 1.0 0.0 0.1 0.1 1 100

BOU-DD25-605 747.0 747.9 0.56 12 0.9 0.1 0.4 0.1 5 71

BOU-DD25-605 1,069.1 1,070.1 0.80 7 1.0 0.1 0.4 0.6 2 103

BOU-DD25-605 1,137.9 1,138.9 3.03 2 1.0 0.1 0.0 0.1 1 247

BOU-DD25-605 1,221.0 1,232.0 1.35 4 11.0 0.2 0.0 0.1 4 125

BOU-DD25-606 76.5 77.3 0.74 40 0.8 0.0 0.9 0.8 4 141

BOU-DD25-606 81.6 82.2 0.63 14 0.6 0.0 0.3 0.5 1 84

BOU-DD25-606 249.3 251.2 2.52 9 1.9 0.2 0.2 0.2 9 232

BOU-DD25-606 274.4 276.4 7.71 65 2.0 0.3 0.1 0.1 7 700

BOU-DD25-606 283.2 283.7 1.79 30 0.5 0.1 1.4 2.7 8 281

BOU-DD25-606 373.0 373.5 0.07 157 0.5 0.6 11.3 7.2 12 660

BOU-DD25-606 408.4 409.2 0.76 32 0.8 0.0 0.4 0.3 24 112

BOU-DD25-606 438.6 439.4 1.76 7 0.8 0.0 0.0 0.0 29 147

BOU-DD25-608 255.9 256.4 0.91 22 0.5 0.1 0.3 1.0 6 131

BOU-DD25-608 384.5 386.5 5.21 244 2.0 0.2 0.7 0.7 8 704

BOU-DD25-608 388.9 389.9 1.10 10 1.0 0.0 0.1 0.1 7 102

BOU-DD25-608 391.2 393.8 1.09 12 2.6 0.1 0.1 0.1 8 110

BOU-DD25-608 397.0 397.6 0.70 9 0.6 0.0 0.7 1.7 14 124

BOU-DD25-608 510.8 511.4 0.55 23 0.6 0.2 0.5 3.0 27 165

BOU-DD25-608 532.0 533.0 0.80 1 1.0 0.0 0.0 0.0 6 65

BOU-DD25-609 200.9 201.7 0.58 13 0.8 0.1 0.3 7.3 3 253

BOU-DD25-609 240.0 241.0 0.03 77 1.0 0.0 0.1 0.4 4 93

BOU-DD25-609 267.1 268.0 3.97 80 0.9 0.3 0.1 0.0 5 416

BOU-DD25-609 269.6 270.1 0.64 19 0.5 0.1 0.1 0.0 2 79

BOU-DD25-609 271.6 273.6 0.57 113 2.0 0.0 0.1 0.0 5 162

BOU-DD25-609 276.1 277.1 1.23 22 1.0 0.2 0.6 3.9 19 245

BOU-DD25-609 348.7 349.9 0.44 16 1.2 0.0 0.9 1.5 4 112

BOU-DD25-609 375.7 376.2 0.47 34 0.5 0.1 0.6 3.1 8 171

BOU-DD25-609 376.9 377.9 0.51 35 1.0 0.1 0.7 3.2 7 179