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Maya Gold & Silver Inc.: Maya Gold & Silver: Acquired 10% Interest on the Amizmiz Project, Morocco

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  Published in Business and Finance on Monday, October 26th 2009 at 13:20 GMT by Market Wire
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MONTREAL, QUEBEC--(Marketwire - Oct. 26, 2009) - MAYA GOLD & SILVER (TSX VENTURE:MYA) reports having received conditional approval for the issuance of 500,000 common shares to Aumar Minerals inc. pursuant to an Agreement regarding the assignment of a 10% interest in the ABH (Amizmiz gold and silver project) gold property of Morocco. As part of the Agreement, Maya also made a $53,000 payment. The securities are subject to a four month hold period trading restriction from the date of issuance.

As previously announced, the Company can earn a 60% interest, for a total of 70% interest, in the property from Societe d'Exploration Geologique des Metaux ("SEGM"). According to the terms of the agreement, the Company is committed to pay amounts adding up to $1,250,000 in cash or in shares ($250,000 paid on May 31, 2009), to carry out exploration work in the amount of $3,800,000 over a four-year period and the Company issued 500,000 common shares (refer to press releases dated March 31 and September 24, 2009).

ABOUT MAYA

Maya Gold & Silver Inc. is a Canadian mining company newly listed on the TSX Venture Exchange which focuses on the research of gold and silver deposits.

Forward-looking statements

Except for statements of historical fact, all statements in this news release, without limitation regarding new project acquisitions future plans and objectives are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.