Maya Gold & Silver Inc.: Announces $2.5 Millions Private Placement Financing

MONTREAL, QUEBEC–(Marketwire – May 1, 2009) – MAYA GOLD AND SILVER INC. (TSX VENTURE:MYA) (“MAYA” or “the Company”), subject to regulatory approval, plans to undertake a non-brokered private placement of up to $2.5-millions through the issue of units at an issue price of 35 cents per unit. Each unit is comprised of one common share and half a purchase warrant, each warrant entitling the holder thereof to purchase one additional common share at a price of $0.50 at any time on or prior to April 30, 2012.

The net proceeds of the private placement will be used to continue development of the Ait Bou-Haddou property in Morocco, make the payments under the recently announced agreements and general working capital.

Closing of the financing is subject to TSX Venture Exchange approval. The company may pay finder’s fees in connection with the financing.

For more information, please contact

Maya Gold & Silver Inc.
Rejean Gosselin
Chairman and Chief Executive Officer
514-868-9995
rgdigger@hotmail.com

or

Maya Gold & Silver Inc.
Guy Goulet
President
514-868-9995
goulet7@globetrotter.net




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