Maya Gold & Silver Inc. has entered into a facility agreement with a fund managed by Scipion Capital Ltd. for a finance facility in a principal amount of USD 6.0 million, of which USD 3.5 million is immediately available. The initial facility is a 12 month loan maturing on January 31, 2015 with interest at 12%, and is repayable in 9 consecutive monthly installments beginning on May 31, 2014 from the cash generated by the operations of Maya's Zgounder Silver Mine. Maya and Scipion have also agreed that the loan may be increased by a second USD 2.5 million tranche, for an additional 12 month term, for an aggregate facility of USD 6.0 million.

The proceeds of the first tranche of the loan will be used exclusively for the re-commissioning of the Zgounder Silver Mine, in Morocco. Maya will complete the purchase of chemicals, underground equipment and geo-membrane for the extension of tailings capacity, in order to be able to reach the projected production of 85,000 ounces of silver per month as soon as possible. The proceeds of the second tranche of the loan will be used for optimization of underground operation and milling facilities in order to reduce production costs, lower cut-off grade and increase capacity.