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June 20, 2019

Maya Gold & Silver Announces 2019 Annual General Meeting Results and Creation of Chairman and CEO Role


MONTRÉAL, June 20, 2019 (GLOBE NEWSWIRE) -- Maya Gold & Silver Inc. (“Maya” or the “Corporation”) (TSX: MYA) is pleased to announce the results of voting at its annual meeting of shareholders held on June 13, 2019 in Montréal, Québec; in addition to the appointment of Noureddine Mokaddem, the Corporation’s Founder & President and CEO, is assuming a newly created role as Founder & Chairman and CEO, and will act as Chairman of Maya Gold & Silver’s Board of Directors with effect from June 13, 2019.

Mr. Noureddine Mokaddem will continue to drive Maya Gold & Silver’s strategic vision, focusing on the initiatives to optimize capital deployment, the sustainability of cash flows, and the evaluation of strategic alternatives to maximize the value of the Corporation’s assets, including the substantial non-producing portion of the portfolio.

“When I was called to step into the role of Founder & Chairman and CEO, it was natural for me to accept with a great sense of responsibility. We have accomplished so much in the past three years and I am confident we have more potential to unlock from our portfolio. I look forward to working with our management, and the Board of Directors to deliver further value to our shareholders. On behalf of the Board of Directors and myself, we would like to thank to René Branchaud for serving as a Chairman for the last two years.” Said Noureddine Mokaddem

A total of 30,118,661 common shares or 38.44% of Maya’s issued and outstanding common shares were represented in person or by proxy at the meeting.

The nominees listed in the management information circular, being René Branchaud, Dr. Elena Clarici, Noureddine Mokaddem, Nikolaos Sofronis, Robert Taub and Martin Wong were re-elected as directors of the Corporation.

Detailed results of the vote for the election of the directors are set out below:

Shareholders approved the re-appointment of Raymond, Chabot, Grant Thornton LLP, Chartered Professional Accountants as the Corporation’s auditors by a majority of 24,760,728 votes (99.83%) of shareholders present in person or represented by proxy at the meeting.

Maya Gold & Silver Inc. is a publicly-traded Canadian company focused on the operation, exploration and development of gold and silver deposits in Morocco. Maya is currently operating mining and milling operations at its Zgounder Mine, an 85%-15% split ownership between its subsidiary, ZMSM, and the ONHYM of the Kingdom of Morocco.

Its portfolio also contains the Boumadine polymetallic deposit located in the Anti-Atlas Mountains of Eastern Morocco. The property is a joint venture with ONHYM whereby Maya retains an 85% ownership.

Maya’s portfolio also includes the Amizmiz and Azegour properties, both being 100% owned, with gold, tungsten, molybdenum and copper deposits covering over 100 square kilometres in a historical mining district.

Forward-looking statements

This news release contains statements about future events or future performance and reflects management’s current expectations and assumptions. These are “forward-looking” because we have used what we know and expect today to make a statement about the future. 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. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in the Corporation’s filings with SEDAR.

On behalf of the Board:

Noureddine Mokaddem
Founder, Chairman & CEO
+1 (514) 866-2008

Website: www.mayagoldsilver.com