Post on 03-Apr-2018
TSXV:MYA CORPORATE PRESENTATION 2
MAYA AT A GLANCE▪ Focused on precious and base metals assets in Morocco;
▪ “First mover” advantage in Morocco’s newly privatized mining industry;
▪ Underexplored land with significant mineral potential;
▪ Acquired three brownfield projects;
▪ Raised $50M+ in equity and debt financing over the last five years.
As of June 017
Shares Outstanding 210.9M
Options ($0.35-$0.50) 6.7M
Warrants ($0.15-$0.50) 85.1M
Market Cap $30M
Maya has a strong shareholder base:
▪ Board and Management own 30%
▪ Belgians Shareholders (High NW) + 15%
▪ Institutional Investors + 15%
TSXV:MYA CORPORATE PRESENTATION 3
MAYA BOARD OF DIRECTORS
René Branchaud, LLB, Chairman of the BoardA lawyer since 1983, René is a partner of the law firm Lavery De Billy, L.L.B
Noureddine Mokaddem, P. Eng., President & CEO and DirectorNoureddine for more than 30 years has held senior positions at ONA, MANAGEM and OCP Groups. He has played an important role in the
development of several major mining operations in Morocco and West Africa from exploration to full production, such as the Akka gold mine and
the Guemassa polymetallic mining complex.
Nikolaos Sofronis, DirectorNikolaos is Director of Irini Investment of Luxembourg and has over 18 years of private equity experience in mining and biotechnology sectors.
Eric Swenden, MCS DirectorMr. Swenden has a long and successful career in finance and company management and has held various senior positions in companies, including
Vandemoortele Food Group, General Bank (Fortis) and Besix. He serves as member of the board of directors for various companies, including
Lifeline Scientific and Redhill Biopharma.
Robert Taub, DirectorRobert holds a BA in Languages from the University of Antwerp (Belgium) and an MBA from INSEAD (Fontainebleau, France). He is an entrepreneur
in the Life Science field and investor in several pharmaceutical and medical device companies. Mr. Taub was the CEO of a NASDAQ listed
company which he had founded and is currently an investor and Chairman of another NASDAQ company.
Martin Wong, CPA CA, Interim Chief Executive Officer and DirectorMartin is an experienced corporate financial executive and investment banker. He is currently independent financial advisor, managing partner of
Milton Capital Partners Limited and Executive Chairman of a LifeScience Reasearch Company
TSXV:MYA CORPORATE PRESENTATION 4
*ONHYM (Moroccan state institution)
MAYA CORPORATE STRUCTUREMaya Gold & Silver
TSX-V ListedPublic Shareholders
Amizmiz(Au)
100%
Azegour(Mo, W, Cu)
100%
Permit 233263
100%
Zgounder Millenium Silver Mining S.A (Ag)
85%*
Boumadine Deposit (1)
(Au, Ag, Pb, Zn)
85%*
Companie MinièreMaya Maroc
Inferred Resources 342,000 oz Au
6000 t Mo, 2000 t Cu, 1000 t W
Adjacent to the Imiter Silver Mine
Touchkal
100%
Potential extension of the Zgounder Mine
Zgounder Silver Mine
12Moz Ag R&R / Mill on site
3,838,970 t @ 0.86% Pb, 3.9% Zn,
203 g/t Ag (25.1 M oz) and
3.60 g/t Au (444,330 oz)
100%
ONHYM*
15%
15%
TSXV:MYA CORPORATE PRESENTATION 6
ZGOUNDER SILVER PROJECT85% MAYA & 15% ONHYM*
6*ONHYM (Moroccan state institution)
Quarter ended
March 31,
2017
(unaudited)
March 31,
2016
(unaudited)
%
Var.
Material Processed (tons) 14,358 14,010 2.5
Average Grade (g/t Ag) 380.53 395.75 (3.8)
Mill Recovery (%) 86.08 78.43 9.8
Silver Ingots (kg) 4,703.3 4,347.11 8.2
Silver ounces produced (oz) 151,214 139,763 8.2
Sales of silver (oz) 161,088 138,928 16.0
Sales of silver ($) 3,599,146 2,755,324 30.6
Development expenses
(excluding interest) ($) (3,019,635) (2,129,707) 41.8
Cash flow generated from the
activities at the mine (excluding
interest ($) (1)579,511 625,617 (7.4)
(
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 activities at the mine
are comprised of the Corporation’s cash flow from investing activities, movements in additions of property, plant and equipment not
paid, exploration ad evaluation assets and interest capitalized.
TSXV:MYA CORPORATE PRESENTATION 7
ZGOUNDER SILVER MINE INVESTMENT PROJECTSCyanidation Addition of Grinders + Flotation Cells [ To be commissioned before year end]
$9,000 $10,200
$11,400
$3,996 $5,196
$6,396
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$15 $17 $19
Annual Sales Cash Flow
Thousand
$21,000
$23,800
$26,600
$11,074
$13,874
$16,674
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$15 $17 $19Annual Sales Cash Flow
Thousand
Capex: USD3.5MFlotation cells
Base Case / Optimal Conditions
1,400,000 ounces Ag/year
Production cost per ounce $7.51
Total cost per ounce $8.34Production cost per ounce $6.38
Total cost per ounce $7.09 15%
246%
A feasibility study has not been completed and there is no certainty the proposed operation will be economically viable.
Management has produced its own estimates. Following preliminary studies, the Corporation could revise its cost estimate for
some of the elements, if necessary.
2017 ForecastedCyanidation
Base Case / Optimal Conditions
600,000 ounces Ag/year
TSXV:MYA CORPORATE PRESENTATION 8
▪ Capex: USD3.5M – financing fully secured from EBRD loan;
▪ Engineering and infrastructure related to the installation of the cell units at the
Zgounder mine are completed and ready;
▪ Flotation Cell Units have been arrived the Zgounder mine site;
▪ Flotation Cells will be assembled, undergo testing, design basis and
optimization during the year;
▪ Flotation Cells will be commissioned before year end;
▪ Once integrated to the processing circuit will increase the tonnage of the ore
processed from 187 t/day to up to 500 t/day (267%) and will reduce
processing costs by15%.
ZGOUNDER - FLOTATION CELL UNITS
TSXV:MYA CORPORATE PRESENTATION 9
SIMILARITIES WITH THE WORLD CLASS IMITER MINE (14TH LARGEST SILVER MINE IN THE WORLD)
Imiter Zgounder
History IIV & IX Century IV and XII Century
Discovery 1969 1950
Production 1978 by SMI 1982 by SOMIL
Geological framework Panafrican magmatic arc Same
Age Neoproterozoic (550±3 Ma) Neoproterozoic
Deposit Type Ag-Hg Epithermal Same
Host rockBlack shales, pelites, conglomerats and
volcanics
Pelites, conglomerats
and volcanics
Structural control Strike-slip tectonic regime Same
Occurrence Veins and pockets Same
MineralizationNative silver and mercuriferous
native silver assemblageSame
Paragenese 2 distinct stages Same
Fluid range temperatures 100 to 450 °C 200 to 500°C
Ref: Marcoux, E. and Wadjinny, A. (2005): Le gisement Ag–Hg de Zgounder (Jebel Siroua, Anti-Atlas,
Maroc) : un épithermal néoprotérozoïque de type Imiter. C. R. Geoscience, 337, 1439–1446
TSXV:MYA CORPORATE PRESENTATION 10
THE ZGOUNDER SILVER MINE – THE POTENTIAL
Next Slide
Looking this way
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TSXV:MYA CORPORATE PRESENTATION 11
ZGOUNDER NI 43-101 PRELIMINARY ECONOMIC ASSESSMENT (PEA) 12 M OUNCES AG [ALL CATEGORIES]*
150 ≤ Ag ≥ 350 ppm
350 ≤ Ag ≥ 50000 ppm
85 ≤ Ag ≥ 150 ppm
3D scan of adits and stopes
Digitalized adits from SOMIL
mining plans
Ore bodies
Panels (indicated and inferred)Ore Bodies and Isolated Panels from level 1925 to 2150 m
* GMG recognizes in addition to the Measured, Indicated and Inferred Resources that there are areas within recognized
structures and depth extensions which will require additional drilling. These recognized structure and depth
extensions can offer additional Mineral Potential between 1.5 to 2.0 M tonnes grading 300 to
400 g/t Ag.
TSXV:MYA CORPORATE PRESENTATION 13
▪ Discovery of a new zone on level 2100 to the North East of the adjacent
historical Corps D;
▪ The new zone recognized over 15m NE X 10m NW over 20m;
▪ Highlights of this new zone (North East Extension Corps D above 2100) are:
– 2100-T28-17-64 intersect 2376 g/t Ag over 13.2m from 0 to 13.2m
– 2100-T28-17-66 intersect 247 g/t Ag over 4.8m from 0 to 4.8m
– 2100-T28-17-88 intersect 325 g/t Ag over 4.8m from 0 to 4.8m
– 2100-T28-17-84 intersect 1071 g/t Ag over 6.0m from 0 to 6m
– 2100-T28-17-49 intersect 273 g/t Ag over 3.6m from 0 to 3.6m
– 2100-T28-17-50 intersect 1111 g/t Ag over 2.4m from 0 to 2.4m
ZGOUNDER – RECENT UNDERGROUND DEVELOPMENT
TSXV:MYA CORPORATE PRESENTATION 14
▪ 6,000 m drill program including percussion drilling, geological mapping and
geophysical survey
▪ The objectives of the program are fourfold:
✓ Develop and upgrade inferred mineral resources into measured and indicated
categories;
✓ Continue to prove the hypothesis of the widespread mineralization with occurs
across the known deposit;
✓ Explore lateral extensions of nearby known deposit to the North and to the East;
✓ Explore possible extensions to the known deposit at depth.
▪ Mineral target of 35 to 45M ounces of silver at an average grade of 125 to
150 g/t within 8 to 12 Mt above 50 g/t Ag. *
ZGOUNDER – 2017 EXPLORATION PROGRAM
* The potential quantity and grade reported as Mineral target, is conceptual in nature, as there has been
insufficient exploration to define a mineral resource and that it is uncertain if further exploration will
result in the target being delineated as a mineral resource.
TSXV:MYA CORPORATE PRESENTATION 15
ZGOUNDER – 2017 EXPLORATION PROGRAMDRILL SET-UP AND TRENCH LOCATION
First trench in undeveloped sector to the East
of the mine intersect 481 g/t Ag over 8m
Looking West
TSXV:MYA CORPORATE PRESENTATION 19
BOUMADINE POLYMETALLIC DEPOSIT 85% MAYA & 15% ONHYM
*Gold price USD1,200
Historical Resources (1998)
3,838,970 t @ 0.86% Pb, 3.9% Zn, 203 g/t Ag (25.1 M oz) and 3.60 g/t Au (444,330 oz)
Historical Production (1989 to 1992)*:
261,485 t @ 3.8% Zn, 1.5% Pb, 200 g/t Ag and 3.50 g/t Au
Boumadine Surface Tailings
~ 240,000 t recoverable material grading 178 g/t Ag and 2.80 g/t Au
These estimates were executed prior to the introduction of National Instrument 43-101. A qualified person has not done sufficient work to
classify the historical estimate as current mineral resources or mineral reserves, the Corporation is not treating the historical estimate as current
mineral resources or mineral reserves and the historical estimate should not be relied upon.
TSXV:MYA CORPORATE PRESENTATION 20
BOUMADINE EXPLORATION TARGETS
Pre Economic Assessment Study
To be completed by year-end
Massive silicification
TSXV:MYA CORPORATE PRESENTATION 22
FORWARD-LOOKING STATEMENTCertain statements in this presentation may constitute “forward-looking statements” that involve knownand unknown risks, uncertainties and other factors that may cause the actual results, performance orachievements of Maya Gold & Silver Inc., or industry results, to be materially different from anyfuture results, performance or achievements expressed or implied by such forward-looking statements.These statements reflect management’s current expectations regarding future events and operatingperformance and speak only as of the date of this presentation. These forward-looking statementsinvolve a number of risks and uncertainties
Zgounder Silver Mine
The decision to commence production at the Zgounder Silver Mine was not based on a feasibilitystudy of mineral reserves demonstrating economic and technical viability, but rather on a pre-feasibility study. Accordingly, there is increased uncertainty and economic and technical risks offailure associated with this production decision. Production and economic variables may varyconsiderably, due to the absence of a complete and detailed site analysis according to and inaccordance with NI 43-101.