Aya Gold & Silver Reports High-Grade Silver Results at Zgounder

The most recent news release dated February 18, 2026, reports high-grade silver drill results from the Zgounder Silver Mine in Morocco. Key highlights include: - Hole T28-26-1104 returned 4,489 g/t Ag over 6.0m in the Central Area. - Hole ZG-SF-25-350 returned 2,198 g/t Ag over 1.0m at depth near the Western Fault contact. - Hole ZG-RC-25-855 returned 1,454 g/t Ag over 3.0m in the Open-Pit Area. - The 2026 exploration program is 10.3% complete, with 3,117 meters drilled year-to-date. - Mineralization has been extended further west near the Western Fault contact, pushing the boundaries of the current resource model.

The news is Material - Positive for several reasons: - Resource Expansion: The extension of mineralization near the Western Fault contact indicates that the Zgounder deposit remains open and possesses growth potential beyond the current mine plan. - Continuity Confirmation: High-grade results in the open-pit area (1,454 g/t Ag) and at depth (2,198 g/t Ag) confirm the high-grade nature of the deposit and the reliability of the geological model. - Execution Momentum: Following the January 2026 outlook which targeted a significant production increase (6.2 - 6.8 Moz AgEq), these results provide technical validation that the resource can support intensified mining activity. - Grade Optimization: These results help address previous management concerns regarding open-pit grade dilution by identifying high-grade pockets that can be prioritized in the 2026 mine sequence.

Aya Gold & Silver is the only TSX-listed pure-play silver producer. - Flagship Project: Zgounder Silver Mine, Morocco. - Status: Producing and recently expanded (Dec 2024). Current mine life is 11 years with a goal of producing ~6 Moz Ag annually. - Secondary Asset: Boumadine Polymetallic Project. A district-scale asset with a massive 352 Moz AgEq resource (PEA stage), currently undergoing an accelerated 230,000m drill program for 2026.