Aya Gold & Silver Announces Spinout and Creation of Growth-Focused Gold Venture

MONTREAL, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to report that it has entered into non-binding term sheets for the spinout of its Amizmiz Gold Project (the “Amizmiz Property”) in the Kingdom of Morocco and the granting of an option on its Tijirit Project in the Islamic Republic of Mauritania to Mx2 Mining (“Mx2” or “SpinCo”), a new North Africa-dedicated gold growth company backed by Aya with the participation of Richard Clark as its Executive Chairman and Adam Spencer as its President and CEO (the “Transaction”). The Transaction is subject to confirmatory due diligence and market standard closing conditions. All amounts are in Canadian dollars unless otherwise stated.