Maya Intersects 1314 g/t Ag Over 9 Metres in Diamond Drill Hole to the East at Surface at Zgounder and Ruby Silver Ore (Proustite) Identified

MONTR??AL, QU??BEC--(Marketwired - Aug. 2, 2017) - Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE:MYA) is pleased to announce partial results of diamond drill hole prepared and assayed at the independent laboratory Analyse Development Minier S.A.R.L. based in Marrakech.

Hole ZG-Ext6-17-S10 drilled to the North East at minus 60 degrees has intersected 312 g/t Ag over 3m from 0 to 3 metres and has intersected 1314 g/t Ag over 9m from 12 to 21m including 3807 g/t Ag over 3m from 13.5 to 16.5m and appears to be part of a new structure to the East adjacent to ancient workings.

Core length, values uncut, true thickness is estimated to be 70% of intersection, partial results.

Hole ZG-Ext6-17-S1 drilled South South East at minus 45 degrees has intersected 62 g/t Ag over 18 metres from 0 to 18m including 247.5 g/t Ag over 3 meters from 0 to 3m.

Click here to view the drill hole location plan map

Uncut Ag results. Length are drill length, additional drilling will be needed to establish the exact geometry of this new zone to the East, true widths are believed to be 70% of the length intersections. Other results have been received from laboratory, once compiled and validated they will be disclosed.

Furthermore, the Corporation has received an IOS Services Geoscientific certificate on the mineral identification of the reddish crystalline mineral (red silver literally named Ruby Silver Ore) Proustite Ag3AsS3. This mineral is observed in the cores as well as in underground faces and drifts occasionally. A sample was taken by Goldminds and brought to Canada for identification by Scanning Electron Microscopy (SEM/MEB) at IOS mineralogical facilities in Saguenay Quebec.

Click here to view the Binoculars pictures of the red silver c in rock and in core hole ZG-17-11

Click here to view the core at 102m in hole ZG-17-11

"The discovery of a new zone to the East near surface with respectable silver grades is very positive for us. Further work will be required to determine the full extent of this new zone. This discovery illustrates the continued success of our exploration program and the potential that still exists to enhance and extend the life of the Zgounder mine. Furthermore, the official identification of the Proustite Ag3AsS3 also gives us comfort as it has been identified in various core holes drilled to date by our geologist. We are looking forward receiving additional results in the coming weeks" said Noureddine Mokaddem, CEO & President of Maya Gold & Silver.

Quality Control / Quality Assurance (QA/QC)

The samples were analyzed by at the independent laboratory Analyse Development Minier S.A.R.L. The core sample are crushed to have d80 passing 2mm and afterward riffle split to have 100grams which is pulverized to have a pulp d80 of 75 microns Multi acid digestion and Atomic Absortion reading. Fire assay is used for high grade silver sample.

Qualified Persons

The technical content of this news release has been prepared and reviewed on the basis of information received from the ZMSM as well as personally collected during site visits by Claude Duplessis Eng. Geological Engineer from GoldMinds Geoservices Inc, independent Qualified Person under NI 43-101 standards.

ABOUT MAYA

Maya Gold & Silver Inc. is a Canadian publicly listed mining corporation focused on the exploration and development of gold and silver deposits in Morocco. Maya is initiating mining and milling operations at its Zgounder Mine owned by ZMSM, a Maya 85% owned joint venture with l'Office National des Hydrocarbures et des Mines of the Kingdom of Morocco (15%).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This news release contains statements about our future business and planned activities. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements including but are not limited to comments regarding the timing and content of upcoming work and analyses. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, and believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations.