Maya Gold & Silver Summarizes Activities of Second Quarter 2017

MONTREAL, QUEBEC -- (Marketwired) -- Aug 29, 2017 -- Maya Gold & Silver Inc. ("Maya" or the "Corporation") (TSX VENTURE: MYA) has released its unaudited condensed consolidated financial statements accompanied by the management's discussion and analysis ("MD&A") for the six-month period ending in June 30, 2017.

The documents have been filed electronically with SEDAR and will be available on the Corporation's website: www.mayagoldsilver.com.

2017 - Corporation's highlights for the six-month period ended June 31, 2017


--  Total assets of $28,917,212 as of June 30, 2017; 
--  Closing of a $1.5 million non-brokered private placement of units; 
--  Repayment at maturity of $3.05M 8% unsecured convertible debentures from
    surplus cash from its Zgounder Silver Mine. 

Zgounder Silver mine highlights during the six-month period ended June 31, 2017 include:


--  Silver production of 8,6945 kg of silver (279,548 ounces) an 4.34%
    increase from the first half period of 2016. 
--  Revenue from silver in the six-month period ended June 30, 2017 totalled
    $6,470,653 (2016 - $6,001,227) and the development cost incurred during
    the period, excluding capitalised interest, amounted to $5,064,831 (2016
    - 4,415,045). 
--  The net cash flow generated from the activities at Zgounder, before
    capitalised interest, totaled $1,405,822 (2016 - $1,586,182) and was
    accounted for against Property, plant and equipment since the Company
    had not yet reached the commercial phase of this property. 
--  The average silver price realised during the six-month period ended June
    30, 2017 was US$17.47 (2016 - US$16.87) versus an average market silver
    price during the same period of US$17.33 (2016 - US$15.80). 
--  The Flotation Cell Units have arrived at the Zgounder Millenium Silver
    Mining ("ZMSM") site and the civil engineering works is in progress. 
--  The Corporation initiated a diamond drilling program with update of the
    status of silver resources, reported exceptionally drill intercepts from
    its exploration program at the Zgounder Silver Mine and has identified
    Ruby Silver Ore (Proustite) at Zgounder; 

In June, the Corporation has also mandated GMG to conduct a Preliminary Economic Assessment on the Boumadine polymetallic deposit. Compilation and computerization of historical data have been initiated.

Operating and Financial Highlights


                                        ------------------------------------
                                                         Three-months ended 
                                        ------------------------------------
                                            June 30,    June 30,            
                                                2017        2016           %
                                         (unaudited) (unaudited)   Variation
                                        ------------------------------------
Material Processed (tons)                     13,472      15,138      -11.01
Average Grade (g/t Ag)                        350.68      327.31        7.24
Mill Recovery (%)                              84.05       80.37        5.11
Silver Ingots (kg)                           3,991.6     3,986.7        0.13
Silver ounces produced (oz)                  128,333     128,171        0.13
Sales of silver (oz)                         115,571     123,622       -6.51
                                        ------------------------------------
Sales of silver ($)                        2,871,507   3,245,903      -11.53
Development expenses (excluding                                             
 interest) ($)                             2,045,196   2,285,338      -10.51
                                        ------------------------------------
Cash flow generated from the development                                    
 activities at the mine (excluding                                          
 interest($) (1)                             826,311     960,565      -13.98
                                        ------------------------------------

                                        ------------------------------------
                                                           Six-months ended 
                                                                              ------------------------------------
                                                                                        June  30,        June  30,                        
                                                                                                2017                2016                      %
                                                                                  (unaudited)  (unaudited)      Variation
                                                                                ------------------------------------
Material  Processed  (tons)                                          27,830            29,148              -4.52
Average  Grade  (g/t  Ag)                                                366.08            360.21                1.63
Mill  Recovery  (%)                                                            85.34              79.34                7.55
Silver  Ingots  (kg)                                                      8,694.9        8,333.66                4.33
Silver  ounces  produced  (oz)                                    279,548          267,933                4.34
Sales  of  silver  (oz)                                                  276,659          262,550                5.37
                                                                                ------------------------------------
Sales  of  silver  ($)                                                6,470,653      6,001,227                7.82
Development  expenses  (excluding                                                                                          
  interest)  ($)                                                          5,064,831      4,415,045              14.72
                                                                                ------------------------------------
Cash  flow  generated  from  the  development                                                                        
  activities  at  the  mine  (excluding                                                                                    
  interest($)  (1)                                                      1,405,822      1,586,182            -11.37
                                                                                ------------------------------------
(1)      Cash  flow  generated  from  the  activities  at  the  mine  is  non-                      
            International  Financial  Reporting  Standards  (IFRS)  performance                
            measures,  and  may  not  be  comparable  to  similar  measures  presented  by    
            other  companies.  The  Corporation  believes  that,  in  addition  to                
            conventional  measures  prepared  in  accordance  with  IFRS,  the                      
            Corporation  and  certain  investors  use  this  information  to  evaluate  the
            Corporation's  performance.  Accordingly,  it  is  intended  to  provide          
            additional  information  and  should  not  be  considered  in  isolation  or  as
            a  substitute  for  measures  of  performance  prepared  in  accordance  with    
            IFRS.  The  cash  flow  generated  from  the  development  activities  at  the    
            mine  derived  from  the  Corporation's  cash  flow  from  investing                    
            activities,  acquisitions  of  property,  plant  and  equipment,  less  Silver
            sales.                                                                                                                                

 

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