Aya Gold & Silver Inc. (NASDAQ: AYA) provided an update on its Boumadine polymetallic project in Morocco, according to a company statement released July 15, 2026.

The company has completed 102,111 metres of a planned 360,000-metre infill drilling campaign as of July 13, 2026, with 180,000 metres targeted for the current year. The drilling program is intended to support mineral resource conversion and reserve estimation as part of an ongoing feasibility study that began in early 2026.

Aya has pre-qualified a group of mining contractors and is preparing to launch a competitive tender for the open pit mining contract, which is expected to be completed in the first half of 2027. A similar shortlisting process is underway for the processing plant, with a shortlist expected by year-end.

Detailed engineering for the project's water supply infrastructure has commenced, led by GCIM and ADI. Process water is planned to be sourced from treated municipal wastewater facilities in nearby towns. A hydrogeological fieldwork campaign is also being planned to test regional brackish water resources.

Preliminary engineering is underway for the project's powerline and associated infrastructure, with discussions ongoing with the national grid operator.

The metallurgical testwork program, led by SGS Canada Inc., is in its final phase. Results are said to confirm the existing flowsheet and identify opportunities for process optimization.

An updated Preliminary Economic Assessment for Boumadine remains on track for release in the second half of 2026 and will include an updated resource model, revised mine plan, and revised metal price assumptions. The company plans to begin early works by year-end, with a project access road cited as a potential near-term priority.

The feasibility study is planned for completion by the second half of 2027.

Aya is scheduled to release its second quarter 2026 financial results on August 13, 2026, with a management conference call on August 14, 2026.