Kootenay Reports Aztec - Kootenay JV Drills 4.2 Gpt GOLD over 24.4 Meters Within 167 Meters of 1.0 Gpt GOLD at the Cervantes Project, Sonora, Mexico

KOOTENAY REPORTS AZTEC - KOOTENAY

JV DRILLS 4.2 GPT GOLD OVER 24.4 METERS

WITHIN 167 METERS OF 1.0 GPT GOLD AT

THE CERVANTES PROJECT, SONORA,

MEXICO

VANCOUVER, BC

,

Feb. 23, 2022

/CNW/ -

Kootenay Silver Inc.

(TSXV: KTN)

(the "Company" or

"Kootenay")

is pleased to announce that its joint venture ("JV") partner and JV operator, Aztec

Minerals Corp. ("Aztec") continues to intersect broad, high-grade, gold mineralization during the

2022 RC drill program at the

California

target on the

Cervantes

property located in

Sonora, Mexico

.

The best of three drill holes reported in this news release is CAL22-004 which intercepted:

167.2 meters grading 1.002 gpt gold including 24.4 meters grading 4.247 gpt gold

.

Two fences of drilling have now been completed on each side of the previously drilled fence of holes

on the

California

shallow oxide gold target with the objective of expanding the size of the zone

identified in 2017-2018 drilling. This has been successful so far with a foot print now measuring 250

to 500 meters wide and 900 meters long with mineralization continuous vertically to at least 245

meters.

California Zone Drill Highlights

1.002 gpt gold over 167.2 meters

in mineralized quartz feldspar porphyry, including

24.4

meters of 4.247 gpt gold

in CAL22-004, located in the central part of the mineralized zone

0.374 gpt gold over 99.1 meters

in mineralized porphyries and hydrothermal breccias in

CAL22-002 located at the west end of the mineralized zone

0.451 gpt gold over 45.7 meters

in mineralized porphyries in CAL22-003, including

13.7

meters of 0.868 gpt gold

located at the south end of the mineralized zone

View drill section here:

Link to section view hole CAL22-002

Link to section view hole CAL22-003

Link to section view holes CAL22-004

Reported lengths are apparent widths, not true widths, and the observed gold mineralization

appears to be widely distributed in disseminations, fractures and veinlets within quartz-feldspar

porphyry, feldspar porphyry stocks and related hydrothermal breccias.

California

2022 RC Drill Program Plan Map

Holes CAL22-002 and 003 intersected extensive gold mineralization, see table below, extending the

known mineralized zone at depth and to the north, west, and CAL22-004 to the south. The porphyry

gold-copper mineralization is still open in all directions.

Detailed Drill Results – CAL-22-001 to CAL-22-004

Drill Hole

From

(meters)

To

(meters)

Interval

(meters)

Gold

(gpt)

Comments

CAL22-001

16.77

77.74

60.97

1.451

230 Az, -60

Including

30.49

45.73

15.24

3.962

86.89

112.8

25.91

0.348

CAL22-002

4.6

103.7

99.1

0.374

225 Az, -60

CAL22-003

45.7

91.5

45.7

0.451

235 Az, -60

Including

60.9

74.7

13.7

0.868

CAL22-004

0

167.2

167.2

1.002

235 AZ, -60

Including

131.1

155.5

24.4

4.247

The Aztec-Kootenay JV has now completed its Phase 2 Reverse circulation (RC) program of 26

holes, totaling 4,649 meters at the

Cervantes Property

. Four holes drilled into the Purisma target

have been previously reported. The single drill holes at Jasper and California North found mineralized

quartz feldspar porphyry with results pending.

The Aztec-Kootenay JV will now carry out channel sampling and geologic mapping of the new drill

roads at

California

, California Norte and Jasper, as well as to expand surface sampling and mapping

on the property in general to continue the 2021 phase 1 surface program.

Drill samples cuttings are collected every 5 feet (1.52 meters) from all drill holes. The samples are

analyzed by Bureau Veritas for gold with a 30-gram sample size using the method FA430 followed

by MA300. Over limits, when present, are analyzed by AR404 or FA550. All holes contain certified

blanks, standards, and duplicates as part of the quality control program. The QA/QC has delivered

excellent results to date good data integrity. The samples are shipped to and received by Bureau

Veritas Minerals laboratory for the gold and multielement geochemical analysis and additional gold

results will be received and reported in the next several weeks. Final multielement ICP results are

expected to follow the release of the preliminary gold assays and are expected to be received

during the second quarter 2022.

Cervantes Property Highlights

View: Cervantes Project Location Map

Large well-located property

(3,649 hectares) with good infrastructure, road access, local

town, all private land, water wells on property, grid power nearby

Seven prospective mineralized zones related

to high level porphyries and breccias along an

7.0km east-northeast corridor with multiple intersecting northwest structures

Distinct geophysical anomalies,

California

target marked by high magnetic and low resistivity

anomalies, high radiometric and chargeability anomalies responding to pervasive alteration

Extensive gold mineralization at

California

zone

, 118 soil samples average 0.44 gpt gold

over

900 m

by

600 m

area, trench rock-channel samples up to 0.47 gpt gold over

222m

Already drilled the first discovery

hole at the

California

zone, intersected gold oxide cap to a

classic gold-copper porphyry deposit, drill results up to 0.77 gpt gold over

160 m

Excellent gold recoveries

from preliminary metallurgical tests on drill core from

California

zone; oxide gold recoveries in bottle roll tests range from 75% to 87%

California

geophysical anomaly wide open

laterally and at depth, IP chargeability

strengthens and broadens to >

500m

depth over an area

1100 m

by

1200 m

Three-Dimensional IP Survey

conducted in 2019 extends strong chargeability anomalies to the

southwest covering Estrella,

Purisima East

, and

Purisima West

, coinciding well with alteration

and Au-Cu-Mo soil geochemical anomalies, all undrilled.

Cervantes Property Overview

Cervantes

is a highly prospective porphyry gold-copper property located in southeastern Sonora

State,

Mexico

located 160 km east of

Hermosillo, Sonora, Mexico

within the prolific Laramide

porphyry copper belt approximately 265 km southeast of the

Cananea

porphyry copper-molybdenum

mine (Grupo Mexico).

Cervantes

also lies along a northeast-southwest transverse trending gold belt

that includes the Mulatos epithermal gold mine (Alamos Gold) 60 km to the east, 35 km northeast of

the Osisko San Antonio gold mine, 45 km west of the La India mine (Agnico Eagle), and 40 km

northwest of Santana gold deposit (

Minera Alamos

). The property was acquired by Kootenay Silver

by prospecting and staking and later optioned to Aztec Minerals who earned a 65% interest under

the agreement. The property is now a 65/35 JV operated by Aztec with Kootenay holding a 35%

interest and both parties contributing their pro rata interests to the project.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release.

Qualified Persons

The Kootenay technical information in this news release has been prepared in accordance with the

Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for

Mineral Projects) and reviewed and approved on behalf of Kootenay by

James McDonald

, P.Geo,

President, CEO & Director for Kootenay, a Qualified Person.

About Kootenay Silver Inc.

Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development

of mineral projects in the Sierra Madre Region of

Mexico

. Supported by one of the largest junior

portfolios of silver assets in

Mexico

, Kootenay continues to provide its shareholders with significant

leverage to silver prices. The Company remains focused on the expansion of its current silver

resources, new discoveries and the near-term economic development of its priority silver projects

located in prolific mining districts in

Sonora

, State and Chihuahua, State,

Mexico

, respectively.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

The information in this news release has been prepared as at February 22 2022. Certain statements in this news release, referred to herein as "forward-looking statements",

constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected",

"may", "will" or similar terms.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Kootenay as of the date of such statements,

are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be

materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements,

which speak only as of the date made. Except as otherwise required by law, Kootenay expressly disclaims any obligation or undertaking to release publicly any updates or

revisions to any such statements to reflect any change in Kootenay's expectations or any change in events, conditions or circumstances on which any such statement is based.

Cautionary Note to US Investors:

This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors

that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties

are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and

content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future

events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE

Kootenay Silver Inc.

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For further information:

James McDonald, CEO and President at 403-880-6016; Ken Berry,

Chairman at 604-601-5652; 1-888-601-5650, or visit: www.kootenaysilver.com

CO: Kootenay Silver Inc.

CNW 12:38e 23-FEB-22