Mauritania: Aya Gold & Silver Inc. announces spin-off and creation of growth-oriented gold company

Aya Gold & Silver announced a preliminary agreement to sell its Tijirit mine in Mauritania to Mx2 Mining, a new company focused on developing gold projects in North Africa. As part of the deal, Aya will invest approximately CAD 7.5 million in Mx2, making it the majority shareholder and securing two seats on the Board of Directors.

The sale includes an “exclusive project acquisition option” clause, covering minimum charge requirements for three years. Benoit La Salle, President and CEO of Aya, stated, “We are excited about the demerger, which will optimize Aya’s portfolio while maintaining our majority interest in high-quality gold assets, particularly the promising Amizmiz gold project. Mx2’s option on Tijirit could unlock significant value from this project in mining-friendly Mauritania. This transaction should create substantial value for our shareholders by leveraging Mx2’s exposure to these exceptional assets and experienced management, while allowing Aya to focus on advancing Boumadine, Zgounder, and other strategic initiatives.”

Richard Clark, Executive Chairman of Mx2, added, “We are thrilled to continue our success in North Africa with this transaction. The collaboration between Aya’s team and the founders of Red Back, Orca Gold, and Montage Gold offers a unique opportunity to establish a new player in the North African gold sector, starting with key assets like Amizmiz in Morocco and Tijirit in Mauritania.”