Maya Gold & Silver Announces 2020 Annual and Special Meeting Results

A total of 49,965,453 common shares or 62.82% of Maya’s issued and outstanding common shares were represented in person or by proxy at the AGSM.

The nominees listed in the management information circular, being Dr. Elena Clarici, Benoit LaSalle, Nikolaos Sofronis and Robert Taub were re-elected as directors of the Corporation.

Detailed results of the vote for the election of the directors are set out below:

With this vote, Maya welcomes Yves Grou, J?rgen Hambrecht and Nicholas Taylor to the Board of Directors.

Yves Grou is a CPA CA, having received his Bachelor in Commerce degree from McGill University. He is a member of the Qu?bec Institute of Chartered Professional Accountants. He was co-founder in 1980 and a partner until 2004 of GLA. At GLA, Mr. Grou coordinated and led the reverse take-over process related to several public companies, having completed several transactions with mining, oil and gas, telecommunications and medical devices companies. In 2004, GLA was sold to an accounting firm.

Dr. J?rgen Hambrecht obtained his doctorate in Chemistry in 1975 from the University of T?bingen, Germany. Dr. Hambrecht served BASF in various responsibilities around the world for more than 35 years, lastly as Chairman of the Board from 2003 until his retirement in May 2011. He is Chairman of the Supervisory Board of BASF SE, of Trumpf GmbH & Co. KG and Member of the Supervisory Boards of Daimler AG and Daimler Truck AG.

Nicholas Taylor is a finance, strategy and business development professional with over 25 years of experience. He is currently the principal of a private consulting business working mainly with Private Equity investing in the Metals & Mining space. Previously, he was European Head of Natural Resources Investment Banking ("IB") at The Royal Bank of Canada and, from 2011 to 2015, he was Asia-Pacific Co-Head of Natural Resources IB at Deutsche Bank. He began his professional career in London with Price Waterhouse, where he qualified as a Chartered Accountant. He holds both a MA and BA (Hons) in Natural Sciences from the University of Cambridge.

“We wish to thank Mr. Rene Branchaud, Mr. R. Martin Wong, as well as M. Noureddine Mokaddem for their services and dedication throughout the years. We are also very excited about welcoming onboard Mr. Yves Grou, Dr J?rgen Hambrecht and Mr. Nicholas Taylor. These nominations bring onboard considerable mining, finance and governance experience and know-how to help consolidate the strength and experience of our board as we embark on important milestones of the Corporation” said Mr. Robert Taub, Chairman of the Corporation.

Shareholders approved the re-appointment of Raymond, Chabot, Grant Thornton LLP, Chartered Professional Accountants as the Corporation’s auditors by a majority of 49,869,662 votes (99.98%) of shareholders present in person or represented by proxy at the meeting.

Change of Name

The Corporation wishes to announce that, subject to TSX approval, it intends to change its name to Aya Gold & Silver Inc./ Aya Or & Argent Inc. The Corporation’s shareholders approved a special resolution at the Corporation’s AGSM by a majority of 49,709,495 votes (100%) of shareholders present in person or represented by proxy at the meeting. An additional news release will be issued announcing the effective date of the change of name.

About Maya Gold & Silver Inc.

Maya Gold & Silver Inc. is a publicly traded Canadian company focused on the operation, exploration, acquisition and development of silver and gold deposits. Maya is currently operating mining and milling facilities at its Zgounder Silver Mine, an 85%-15% joint venture between its subsidiary, ZMSM, and the Office National des Hydrocarbures et des Mines (“ONHYM”) of the Kingdom of Morocco.

Its mining portfolio also includes the Boumadine polymetallic deposit located in the Anti-Atlas Mountains of Eastern Morocco, which is also a joint venture with ONHYM wherein Maya retains an 85% ownership. Additionally, the Company’s portfolio includes the Amizmiz and Azegour properties, with gold, tungsten, molybdenum and copper occurrences covering over 100 square kilometres in a historical mining district of Morocco.

For additional information, please visit Maya’s website at www.mayagoldsilver.com

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of present or historical facts are forward-looking. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “strong”, “improving”, “looking forward’, “steady”, “emerging”, “transition”, “stabilize”, “optimize”, “advance”, “maximize”, “improve”, “deliver”, and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability to (i) maintain a steady production for the year 2020, (ii) the capacity to put in place effective controls, procedures and methods necessary for a rigorous operation as well as transparent and effective reporting, and (iii) the capacity to implement a plan to stabilize, optimize, advance, and maximize value at both the Zgounder Silver Mine and the Boumadine Polymetallic Project, as well as the ability to increase reserves and resources, the ability to execute on our strategic focus, fluctuation in the price of currencies, silver or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, political and social stability in Africa and Morocco in particular, (including our ability to maintain or renew licenses and permits), the security of our operations and other risks described in Maya’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in Maya’s 2019 Annual MD&A and other filings made with Canadian securities regulatory authorities and available at www.sedar.com. These documents are also available on our website at www.mayagoldsilver.com. Maya disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.

Alex Ball Maya Gold & Silver 1 (647) 919-2227 aball@mayagoldsilver.com