Maya Gold & Silver Inc intends to complete a non-brokered private placement of C$25,000,000. The net proceeds of the private placement will be used to continue the development and expansion of the Zgounder silver mine; Maya plans to begin building its second mine at Zgounder which incorporates new infrastructure including preparation for an open pit as well as building a new processing plant that will increase production capacity to 2,000 t/d by 2021.

“We have priced this private placement at a premium based on feedback received from our PEA, previously announced in January 2018. We are extremely fortunate to have investors that share our vision and appreciate the quality of Maya’s portfolio,” said Noureddine Mokaddem, President and CEO of Maya Gold & Silver.

Maya Gold & Silver 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 Zgounder Millenium Silver Mining, a Maya 85% owned joint venture with l’Office National des Hydrocarbures et des Mines of the Kingdom of Morocco (15%).