MONTREAL, QUÉBEC--(Marketwire - Jan. 30, 2013) - Maya Gold & Silver Inc. ("Maya" or the "Corporation") (News - Market indicators) is pleased to announce that Mr. Noureddine Mokaddem has been appointed as President of the Corporation, effective immediately. He will succeed Mr. Guy Goulet, who will continue to serve as Chief Executive Officer of the Corporation.

Mr. Mokaddem joined Maya in June 2010 as Executive Vice-President & Chief Operating Officer and director of the Corporation. He is also President of Compagnie Minière Maya-Maroc, the Corporation's wholly-owned Moroccan subsidiary. Before joining Maya, Mr. Mokaddem held senior positions at ONA Group and OCP Group. He has played an important role in the development of several major mining operations, such as the Akka gold mine and the Guemassa complex in Morocco. Mr. Mokaddem is a civil engineer graduated from the State School of Engineers, in Mons, Belgium.

Mr. Goulet stated "Mr. Mokaddem is a key officer of Maya as he has gained extensive experience and knowledge of the mining industry in Morocco. He has deep and proven operational expertise, strong strategic and analytical skills and outstanding leadership abilities. We are confident that with such abilities and experience, Mr. Mokaddem will lead Maya forward as President, continue to sharpen Maya's plan to focus on exploration and development in the Kingdom of Morocco and deliver value for shareholders in the years ahead."

ABOUT MAYA

Maya Gold & Silver Inc. is a Canadian listed mining corporation focused on the exploration and development of gold and silver deposits in Morocco. The Corporation's shares trade on the TSX Venture Exchange under the symbol "MYA".

For further information on Maya visit www.mayagoldsilver.com.

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.