08:34 AM EDT, 05/12/2025 (MT Newswires) -- Aya Gold & Silver ( AYASF ) on Monday said it has received final internal approval by the Board of Directors of the European Bank for Reconstruction and Development for a proposed US$25 million secured credit facility.

A statement noted proceeds of the facility are intended to support the development of the corporation's Boumadine polymetallic project and enhance financial flexibility as part of Aya's growth strategy in Morocco.

Benoit La Salle, President and CEO of Aya Gold & Silver ( AYASF ), said. "It is a strong endorsement of our leadership position in Morocco and the trusted partnerships we've built. With robust free cash flow and a strengthening balance sheet, we are well equipped to accelerate our growth plan and deliver low-cost ounces at Boumadine and Zgounder."

Natalia Lacorzana, Head of Natural Resources, EBRD, said: "We are pleased to strengthen our 10-year partnership with Aya Gold & Silver ( AYASF ), whose operational progress, growth plans, and focus on sustainability are well aligned with our priorities.

"Since our last project finance facility in 2023, Aya has made steady progress at Zgounder and advanced the potential of Boumadine. This new facility reflects our confidence in the company's leadership and our continued support for responsible mining in Morocco."

Monday's statement noted the facility remains subject to: negotiation and finalization of definitive agreements; and customary closing conditions, including security arrangements and regulatory compliance.

The proposed two-year term Facility is expected to be structured as a secured bullet payment loan with a 5.00% interest margin, semi-annual interest payments, and customary fees.

Aya's share closed at $10 on the TSX.