The 2026 PEA was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") by independent Qualified Persons from Lycopodium (Americas) Ltd ("Lycopodium") and CCE Mining ("CCE"), among others. The updated Mineral Resource Estimate ("MRE" or "2026 MRE") contained in the 2026 PEA was prepared by independent Qualified Person Mr. Guy Dishaw, P.Geo from SRK Consulting UK ("SRK"). The 2026 PEA supersedes the previous PEA (the "2025 PEA" or "Prior PEA"). All financial figures in this press release are in U.S. dollars.

Boumadine is Aya's development-stage polymetallic project. The 2026 PEA outlines a plan to produce three payable concentrates, zinc ("Zn"), lead ("Pb") and pyrite, with revenues largely driven by gold ("Au") and silver ("Ag").

2026 PEA - Economic Highlights

Significantly improved project economics, reflecting the combined impact of updated metal price assumptions, higher payable metal production and an extended mine life from 11 to 14 years.
After-tax (base case1): $3.5B net present value (5%) ("NPV5%"), more than doubled from the Prior PEA, with a 93% after-tax internal rate of return ("IRR"), and 0.7 year payback period.
After-tax (spot prices2): $5.5B NPV5%, 128% IRR and 0.5-year payback.
Increased metal payability: 82% and 85% gold and silver payability, respectively, representing increases of 12% and 8%, from the Prior PEA, reflecting updated market conditions.
Strong capital efficiency3: $463M of initial capital expenditure - broadly in line with the 2025 PEA, with NPV5%:Capex ratio increasing to 7.6x, up from 3.3x in the Prior PEA.