Maya Gold & Silver Inc. has provided operational update on the Zgounder Silver Mine for the period of August 2014 to February 28th 2015. Intensive rainfalls and adverse cold weather have continued to affect the operation and chain of supplies in December 2014 and January 2015. Despite adverse conditions Zgounder Millenium Silver Mining ("ZMSM") produced 512 kilos of silver ingots in December 2014 and 482 kilos in January 2015 while the more gentle weather in February contributed to improve production for a total pour of 783 kilos of silver ingots. ZMSM has achieved a declared production of 108,570 ounces in 3,140.310 kg ingots shipped for the payment of 107,102 ounces of pure silver 99.9% in its first start-up period. The average head grade was 278(i)g/t Ag and the mill recoveries ranges from 57% to 84%. As of March 1st, ZMSM has shipped 820kg of silver ingots for net proceed of 791kg for the payment of 25,430 Ounces of pure silver at 99.9% Maya will send professional QPs on-site during the second quarter of 2015 to carry out the Resources, Mine and Mill independent audit. Since the beginning of January 2015, ZMSM has started underground works including the widening of the entirety of the main level (2000) on approximately 760 meters, has pursued YAK drilling for the planning of mining production, has started preliminary works (including digging of an 9 square meters aeration drift) in order to mine the "D" Body in a near future, has completed intensive wall sampling campaign. A portion of the daily mineralized material processed comes from this underground development. Besides, laboratory teams are presently pursuing flotation test works to validate and optimize a process to eventually introduce flotation cells into the actual processing plant as to largely increase processing capacity. Results will be published in a near future.

The company had given a production guidance of 570,000 ounces of silver for 2015 and total cash costs of between $11.50 and $12.38 per ounce Ag to be reported after commercial production is declared. The company expects to increase its mill recovery once it reaches commercial production during the third quarter.