Early Warning Report Issued Pursuant to National Instrument 62-103 in Respect of the Acquisition of Units of Maya Gold & Silver Inc.

BLAINVILLE, QUÉBEC--(Marketwired - March 14, 2017) - In accordance with regulatory requirements, Noureddine Mokaddem (207, 10 de la Seingeurie Blvd. E., Blainville, Québec, J7C 3V5) announces that he has recently acquired 2,307,692 units of Maya Gold & Silver Inc. (the "Corporation") at a price of $0.13 per unit. Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Corporation until September 11, 2018 at a price of $0.20 per common share. All securities acquired are subject to a four month hold period.

Noureddine Mokaddem currently holds 23,900,421 common shares, 18,974,359 warrants of the Corporation and 2,900,000 options to purchase common shares of the Corporation, which represents 11.33% of the Company's currently outstanding common shares, and 19.67% of the Company's common shares on a partially diluted basis assuming full exercise of the warrants.

The securities acquired by Noureddine Mokaddem referred to above are held for investment purposes. In the future, he may increase or decrease his ownership of securities of the Company from time to time depending upon the business and future market conditions.

A copy of the early warning report filed pursuant to Regulation 62-103 may be obtained on www.sedar.com and from the person referred to below.

A copy of the related Early Warning Report will be found on www.SEDAR.com under the Corporation's profile. A copy of the Early Warning Report may also be obtained from the contact below.