KTN.V · 2022-05-05 12:00:00

Kootenay Silver Reports Aztec - Kootenay JV Drilling Intercepts 0.42 gpt Gold over 68.4 Meters Including 2.25 gpt Gold over 10.6 Meters in the California Zone, Cervantes Project, Sonora, Mexico

Drill Results Partnerships & JV

Kootenay Silver Reports Aztec - Kootenay JV Drilling Intercepts 0.42 gpt

Gold over 68.4 Meters Including 2.25 gpt Gold over 10.6 Meters in the

California Zone, Cervantes Project, Sonora, Mexico

VANCOUVER, BC

May 5, 2022

/CNW/ -

Kootenay Silver Inc.

(TSXV: KTN)

(the "Company" or "Kootenay") is pleased to announce

JV operator Aztec

Minerals Corp.

has released additional drill results on the

California

target, which continue to return broad gold mineralization from the 2022 RC drill program

being completed at the

Cervantes

property located in

Sonora, Mexico

California Zone Highlights

CAL22-015 returned

0.421 gpt gold over

68.4 meters

and a deeper interval of

2.246 gpt gold over 10.6 meters.

CAL22-016 returned

0.475 gpt gold over

56.2 meters

. The first multi-element ICP results show good relationships between Au, Cu, Bi, Ag and As, with

prospective grades and widths for Cu and Ag for a potential porphyry deposit model.

CAL22-015 is located at the southeastern edge of the

California

zone and CAL22-016 is located at the northeastern edge. Both holes intercepted mineralized

porphyries and hydrothermal breccias.

CAL22-017 returned 0.32 gpt gold over 24.3 meters and 1.65 gpt gold over 6.1 meters in porphyry, sediments and hydrothermal breccia 350 meters north of

California

target.

Additionally, at the Jasper target a new zone of copper mineralization was intercepted in drilling.

Widespread visible copper oxides and sulfides occur over 150 meters in quartz feldspar porphyry intrusion in RC drill hole at Jasper target 600 meters west of

California Zone at

Cervantes

in CAL22-017

Hole JAS22-001, 600 meters west of California Zone, hit widespread visible copper oxide and secondary sulfide mineralization over 150 meters of quartz feldspar

porphyry intrusion, including 0.332 gpt gold over 9.1 metres.

The first ICP results have been returned and show some very good copper and gold grades. For example, CAL22-001 has

0.21% copper and 1.1 gpt gold

over

88.4 meters including

0.45% copper and 3.92 gpt gold

over 15.2 meters. The ICP results are consistent with a copper-gold porphyry system.

View drill section here:

Holes CAL22-015, 016, 017

Link to section view hole JAS22-001

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

Jasper Zone Location Map

Table 1: Select Multi-Element Results with Gold

Hole

From

Interval

Gold

Copper

Silver

No.

(m)

gpt

CAL22-01

22.9

111.3

88.4

1.1

0.206

3.347

30.5

45.7

15.2

3.962

0.455

9.118

CAL22-02

4.6

103.7

99.1

0.374

0.036

0.568

CAL22-03

45.7

91.5

45.7

0.451

0.118

3.14

60.9

74.7

13.7

0.868

0.286

8.378

CAL22-04

167.2

1.002

0.063

1.804

131.1

155.5

24.4

4.247

0.092

2.527

CAL22-05

136.8

1.486

0.083

2.393

54.9

106.7

51.7

3.424

0.1305

3.34

Table 2: RC Drilling Results (Gold Only)

Drill Hole

From (m)

To (m)

Interval (m)

Gold gpt

Comments

CAL22-001

22.86

111.3

88.41

1.1

230 Az, -60

Including

22.86

77.74

54.88

1.56

30.49

45.73

15.24

3.962

30.49

36.57

6.08

7.44

CAL22-002

108.2

0.374

225 Az, -60

CAL22-003

45.7

91.5

45.7

0.451

233 Az, -60

Including

60.9

74.7

13.7

0.868

CAL22-004

167.2

1.002

236 AZ, -59

Including

131.1

155.5

24.4

4.247

CAL22-005

136.8

1.486

236 Az, -59

Including

54.88

106.7

51.68

3.424

CAL22-006

16.77

117.38

100.32

0.75

229 Az, -60

Including

16.77

25.91

9.14

3.087

128.05

140.25

12.2

0.925

CAL22-007

32.01

39.63

7.6

0.684

225 Az, -59

83.84

147.87

63.84

0.422

CAL22-008

54.72

0.884

212 Az, -58

Including

36.58

50.3

13.72

1.965

187.5

195.1

7.6

0.745

CAL22-009

86.64

0.5

235 Az, -60

CAL22-010

138.32

0.53

227 Az, -52

Including

50.3

60.98

10.67

1.622

CAL22-011

25.9

158.5

132.2

0.427

224 Az, -59

Including

88.8

100.6

12.2

1.291

184.5

193.6

9.1

0.462

CAL22-012

41.2

193.6

152.4

0.872

228 Az, -59

Including

117.4

150.9

33.5

2.048

CAL22-013

140.2

147.9

7.7

0.209

229 Az, -60

CAL22-014

54.9

0.484

205 Az, -58

CAL22-015

4.6

73.0

68.4

0.421

204 Az, -59

117.4

128.0

10.6

2.246

CAL22-016

56.2

0.475

207 Az, -58

79.3

93.0

13.7

0.347

CAL22-017

29.0

53.3

24.3

0.315

251 Az, -60

115.8

121.9

6.1

1.649

The Aztec-Kootenay JV has now completed its Phase 2 Reverse circulation (RC) program of 26 holes, totaling 4,649 metres at the

Cervantes Property

Drill samples cuttings are collected every 5 feet (

1.52m

) 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 review for all drilling has been completed with excellent results showing 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.

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

and in

British Columbia, Canada

. 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

May 4, 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.

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SOURCE

Kootenay Silver Inc.

View original content to download multimedia:

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%SEDAR: 00016508E

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 09:30e 05-MAY-22

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