Aya Gold & Silver Joins Elite GDX ETF, Cementing Moroccan Success Story

MONTREAL, June 16, 2026 – In a move that validates years of strategic execution and operational growth, Aya Gold & Silver Inc. has been officially tapped to join the prestigious VanEck Gold Miners ETF (GDX). The Canadian precious metals company, with its assets firmly anchored in the Kingdom of Morocco, will be added to the widely followed index at the close of trading on June 19, 2026, marking a pivotal moment in its transformation from a junior developer to a significant mid-tier producer.

The GDX serves as a key benchmark for the global precious metals mining industry, and inclusion is a sought-after milestone that signals a company has achieved critical thresholds of market capitalization, liquidity, and operational scale. For Aya, this is more than just a technical listing; it's the culmination of a period of intense growth and a testament to its successful strategy in a region ripe with potential.

“Our inclusion in the GDX is a significant corporate milestone for Aya and reflects the substantial value we have created over the past 18 months through the successful expansion of Zgounder, strong growth in production and cash flow, and the continued advancement of Boumadine,” commented Benoit La Salle, President and CEO of Aya. “We believe this inclusion will enhance the liquidity and visibility of our shares while increasing awareness among a broader global investor base.”

The “GDX Effect”: A Stamp of Approval for Investors

For investors, Aya's entry into the GDX is a powerful signal. The inclusion is expected to trigger a wave of passive investment as the ETF rebalances its portfolio to include Aya's shares, creating a new and substantial source of demand. This “GDX effect” typically leads to enhanced trading liquidity and a more stable, diversified investor base, reducing volatility and broadening market access. Market observers note that institutional investors, or “smart money,” have already been building positions, with institutional ownership climbing to over 35%—an impressive figure for a company in its growth phase. Other precious metals ETFs have also been increasing their weightings, indicating a strong institutional consensus on the company’s upward trajectory.

This sentiment is strongly echoed by market analysts. Aya Gold & Silver currently enjoys a consensus “Strong Buy” rating, with financial models pointing to significant upside potential. The positive outlook is underpinned by the company's stellar financial performance. In the first quarter of 2026 alone, Aya reported a staggering 247% year-over-year revenue increase to $117.3 million and a 600% surge in net income to $48.5 million. With a robust balance sheet showing $171.7 million in cash and equivalents, the company is well-capitalized to fund its ambitious growth plans.

Forged in Morocco: A Story of Operational Excellence

Aya’s GDX inclusion was not a matter of chance; it was earned through remarkable operational execution deep within Morocco's Anti-Atlas mountains. The company’s cash-flow engine, the Zgounder silver mine, has been the cornerstone of this success. Following a major expansion that reached commercial production in late 2024, the mine's output has soared. Annual production in 2025 nearly tripled that of the previous year, hitting 4.83 million ounces of silver. Now, with the mine life extended to 2036 and operations fine-tuned, Aya is targeting a steady-state production of 6 to 6.5 million ounces per year.

The company’s growth story, however, extends far beyond its flagship silver mine. The next major catalyst is the Boumadine polymetallic project, a massive deposit with world-class potential. A 2025 Preliminary Economic Assessment (PEA) outlined a project with a potential 11-year life, capable of producing an average of 401,000 gold-equivalent ounces annually in its first five years. A full Feasibility Study is now underway, and with an aggressive $60 million exploration budget for 2026 focused heavily on Boumadine, the company is systematically de-risking and defining what could be a transformational asset.

This operational success is inextricably linked to its host jurisdiction. Morocco has diligently cultivated a reputation as one of Africa's most stable and attractive mining destinations. With modern mining laws, a pro-investment government agency in ONHYM, and a geologically rich but historically underexplored landscape, the country provides a fertile ground for growth. Aya’s ability to deliver on its projects demonstrates the power of pairing operational expertise with a supportive and stable political environment.

A Silver Star in a Golden Constellation

Perhaps the most intriguing aspect of this development is what it signifies for the broader precious metals market. Aya, a company celebrated for its pure-play Zgounder silver mine, is joining an ETF predominantly known for “Gold Miners.” This move highlights a strategic shift in the investment landscape. It underscores the growing recognition of silver not only as a precious metal but as a critical industrial commodity essential for the green energy transition. As such, premier silver producers are becoming too significant for major precious metals funds to ignore.

Furthermore, a closer look at Aya’s portfolio reveals a clear path to significant gold production. The Boumadine project’s revenue is projected to be 61% gold and 21% silver, effectively transforming Aya into a diversified precious metals producer in the coming years. This built-in growth and commodity diversification make it a natural fit for an ETF like GDX, which seeks to provide investors with broad, high-quality exposure to the entire precious metals mining sector. Aya's inclusion is therefore not an anomaly; it is a forward-looking decision that acknowledges the company's evolving production profile and the increasing importance of a blended metals strategy.