Maya Gold & Silver Announces Non-Brokered Private Placement

Montreal, Quebec, August 18, 2010 – MAYA GOLD & SILVER (TSX-V: MYA) (“MAYA” or the “Company”) (TSX-V: MYA) announced today its intention to complete a non-brokered private placement of up to 2,000,000 units (the “Units”) at a price of $0.25 each for gross proceeds of up to $500,000. Each Unit consists of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.35 per Common Share during eighteen months following the closing. The Warrants will be subject to an acceleration clause such that, in the event that the closing price of the Common Shares for any 20 consecutive day trading period is equal to or greater than $0.60, the Company shall have the right to force conversion of the Warrants, failing which the Warrants will expire.

The net proceeds will be used to pursue drilling in the vicinity of the Tiqlit anomaly and for the working capital.

It is not anticipated that any new insiders will be created, nor that a change of control will occur as a result of the private placement. The private placement is subject to regulatory approvals, including final approval by the TSX Venture Exchange. All securities issued pursuant to the private placement are subject to a 4-month hold period. After taking into consideration this private placement, the Company will have 35,130,596 common shares issued and outstanding.

For further information on Maya visit www.mayagoldsilver.com or contact:

Maya Gold & Silver Inc.:

Guy Goulet
President & Chief Executive Officer
T: 450-435-0700 ext. 204

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.

Forward-looking statements
This release may contain forward-looking statements including management’s assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.




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