Maya Intersects 254 g/t Ag Over 29.5 Metres in Diamond Drill Hole in Center Zgounder Mine and Increase North Zone Chimney 1 Ag Mineralisation

MONTR??AL, QU??BEC--(Marketwired - Aug. 15, 2017) - Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE:MYA) is pleased to announce the partial results of diamond drill hole prepared and assayed at independent laboratory Analyse Development Minier S.A.R.L. based in Marrakech.

Hole ZG-17-S10 drilled in the center of the deposit collared at 2060m elevation at 165 degrees North and minus 65 degrees has intersected 104 g/t Ag from 0 to 8.5m and 254 g/t Ag over 29.5m from 49.5 to 79 metres including 362 g/t over 4m from 51 to 55m, 987 g/t Ag over 1.5m from 61 to 62.5m, 471 g/t Ag over 5.5m from 71 to 76.5m and extent mineralization at depth in the area.

Click here to view the Plan view / Drill holes location

Additionally, the Corporation wishes to announce successful percussion drilling results to the North-West in Chimney 1 where work have extended silver mineralization at 2006, 2015 and 2022 Elevations. The mineralization in the sector is characterized by presence of sulfides like Sphalerite, Pyrite, Chalcopyrite and Galena as well as disseminated native silver associated with the sericite and chlorite alteration. The following figure present the drill layout of Chimney 1 with color coded silver grades (teneur).

Click here to view the pan view showing the morphology of the different levels constituting the panel of the northern zone of the chimney 1

Uncut Ag results. Length are drill length, true widths are believed to be 75% of the length intersections. Other results have been received from laboratory, once compiled and validated they will be disclosed.

"The positive incoming results from surface diamond drill hole and underground percussion holes should assist in the development of the update mineral resources at Zgounder" said Claude Duplessis, P. Eng. & independent QP of Maya Gold & Silver.

Quality Control / Quality Assurance (QA/QC)

The results include blanks and standards as normal control procedures at the mine. The mine laboratory has also carried out duplicates to confirm repeatability of results. The results are considered to be reliable for disclosure. 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 Absorption reading. Fire assay is used for high grade silver sample. Intersected disclosure are variable according to the Cut Off Grade applied for large scale mining or selective mining scenario and will be finalized in the mineral resource update study.

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.