KTN.V · 2021-11-03 12:00:00

Kootenay Silver Reports Second Plus 12,000 Gram-Meter Silver Intercept at Columba High Grade Silver Project, Mexico Highlights Include: 453 gpt Silver over 29.9 Meters including 650 gpt Silver over 17.8 Meters and 932 gpt Silver over 6 Meters

Drill Results

Kootenay Silver Reports Second Plus 12,000 Gram-Meter Silver Intercept at

Columba High Grade Silver Project, Mexico

Highlights Include: 453 gpt Silver over 29.9 Meters including 650 gpt Silver over

17.8 Meters and 932 gpt Silver over 6 Meters

VANCOUVER, BC

Nov. 3, 2021

/CNW/ -

Kootenay Silver Inc.

(TSXV: KTN)

(the "Company" or "Kootenay")

is pleased to announce multiple high-grade drill

results from three holes intercepting the D Vein located on the Columba High-Grade Silver Project in Chihuahua State, Mexico.

The D Vein is situated approximately 600 meters southwest from the F Vein where most of the historic production has taken place on the property. Results from

the recent drill holes intercepting the D Vein include a high-grade silver intercept grading 13,545 gram-meters in hole CDH-21-110. Gram-meters are defined as

grams per tonne multiplied by meters drilled (459 gpt silver times 29.9 meters). This is the second highest intercept to date. CDH-21-103 returned the high of

14,652 gram-meters (333 gpt silver times 44 meters).

Drill Highlights from holes CDH-21-108 to CDH-21-110 are as follows

BDH 21-110

453 gpt silver over 29.9 meters

; including

650 gpt silver over 17.8 meters

; including

932 gpt silver over 6 meters

Intercept includes a high of

1,915 gpt silver over 0.85 meters

BDH 21-109

193 gpt silver over 14.56 meters

; including

294 gpt silver over 7.11 meters

; including

476 gpt silver over 2.31 meters

Intercept includes a high of

592 gpt silver over 0.75 meters

BDH 21-108

98 gpt silver over 77 meters

; including

328 gpt silver over 11 meters

; including

504 gpt silver over 5.9 meters

Intercept includes a high of

1,100 gpt silver over 1.0 meter

All hosted in wide mineralized zone averaging

57 gpt silver over 166 meters

Click to view

plan map

and

cross sections.

These three holes were completed to follow-up on previous drill results which demonstrated high-grade silver potential within the D Vein. Earlier holes drilled along

the D Vein included hole CDH-20-079 returning 525 gpt silver over 1.58 meters within 5.35 meters of 290 gpt silver and hole CDH-19-022 returning 373 gpt silver

over 1.5 meters within 6.25 meters of 244 gpt silver. Drill hole CDH-21-110 happens to be the second richest intercept at Columba to date on a gram per meters

basis. It is also the deepest drill test on the D Vein to date hitting the vein at about a 1650-meter elevation. Higher silver grades have been typically intercepted

at and below this elevation across many of the veins at Columba and these recent results continue to confirm the Company's general exploration model.

The Columba veins are exposed at the very top of epithermal level and as such management believes what is exposed at surface is only a very small part of

whatever was deposited. The D Vein is a good example as values at surface averaged about 100 gpt silver over narrow intervals yet 150 meters vertically below

is an intercept of 453 gpt silver over 29.9 meters.

Surface mapping has traced the D Vein at surface for at least 500 meters and aerial images indicate it continues beyond that. Drilling has scarcely tested only

180 meters of strike length.

Kootenay President and CEO,

James McDonald

states,

"These results demonstrate excellent potential for the definition and development of high-grade

resources at Columba. The D Vein now represents another area with multiple high-grade intercepts which increases the probability that Columba hosts a viable

high grade silver resource."

Gustavo Gallego

, Kootenay's Chief Geologic Engineer adds,

"These results at the D vein encourage us to propose more drilling to define a high-grade silver

resource in the near future. We are confident that we will continue to find high-grade silver and thus confirm the interpretations we have developed from our

surface mapping program."

Detailed Drill Results – CDH-21-108 to CDH-21-110

Hole ID

From (meters)

To (meters)

Interval (meters)

Silver (gpt)

Pb (%)

Zn (%)

Geologic Intersection

CDH-21-108

177

343

166

0.02

0.116

Rhyolite with tiny quartz stockwork & Quartz -barite veins & veinlets

Includes

195

272

0.03

0.14

Includes

213

224

328

0.12

0.5

Includes

218.1

224

5.9

504

0.16

0.75

Quartz-Barite manganese vein "D vein"

Includes

218.1

220

1.9

519

0.094

0.85

Includes

220

221

1,100

0.536

2.04

Includes

221

222.5

1.5

400

0.093

0.29

Includes

222.5

223

0.5

331

0.07

0.2

Includes

223

224

124

0.057

0.24

Rhyolite with tiny quartz stockwork & Quartz -barite veins & veinlets

Includes

316

317

273

0.199

0.61

Rhyolite with tiny quartz stockwork

CDH-21-109

146

177

100

0.04

0.14

Rhyolite with tiny quartz stockwork & Quartz -barite veins & veinlets

Includes

148.44

163

14.56

193

0.08

0.25

Includes

148.44

155.55

7.11

294

0.14

0.4

Quartz-Barite manganese vein "D vein

Includes

148.44

150.19

1.75

226

0.159

0.24

Includes

150.19

152.5

2.31

476

0.21

0.75

Includes

150.19

150.95

0.76

525

0.245

0.78

Includes

150.95

151.75

0.8

323

0.167

0.49

Includes

151.75

152.5

0.75

592

0.222

0.99

Includes

152.5

153.45

0.95

197

0.089

0.19

Includes

153.45

154.12

0.67

167

0.048

0.13

Includes

154.12

155.55

206

0.103

0.33

CDH-21-110

151

206

269

0.33

0.81

Rhyolite with tiny quartz stockwork & Quartz -barite veins & veinlets

Includes

176.1

206

29.9

453

0.6

1.43

Includes

178.2

196

17.8

650

0.9

2.28

Includes

178.2

179.61

1.41

557

0.137

0.26

Includes

179.61

179.95

0.34

633

0.274

1.51

Includes

179.95

181.17

1.22

509

0.43

1.79

Includes

181.17

182

0.83

1,915

0.451

3.51

Includes

182

184.5

2.5

641

0.507

0.59

Includes

186

187

101

0.202

0.14

Quartz-Barite manganese vein "D vein"

Includes

187

187.93

0.93

130

0.077

0.12

Includes

187.93

189

604

0.299

1.55

Includes

189

190

520

1.415

3.68

Includes

190

191

885

1.92

7.11

Includes

191

192

1,565

3.06

8.86

Includes

192

193

1,360

5.43

8.96

Includes

193

194

685

0.775

1.99

Includes

194

195

362

0.13

0.19

Includes

195

196

382

0.188

0.22

Includes

201.3

201.85

1,765

1.22

1.5

Notes: Notes: All widths are drilled widths. At this time the true widths are estimated to be between 45 and 60% of drilled widths for these holes. Additional drilling could change this interpretation. All silver composites rounded to the nearest whole number.

Further results from the 2021 - Phase 3 Drill Program will be released as they are received and analysed by the Kootenay team.

Sampling and QA/QC at Columba

All technical information for the Columba exploration program is obtained and reported under a formal quality assurance and quality control ("QA/QC") program.

Samples are taken from core cut in half with a diamond saw under the direction of qualified geologists and engineers. Samples are then labeled, placed in plastic

bags, sealed and with interval and sample numbers recorded. Samples are delivered by the Company to ALS Minerals ("ALS") in Chihuahua. The samples are

dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS in

Vancouver, B.C.

Systematic assaying of standards, blanks and duplicates

is performed for precision and accuracy. Analysis for silver, zinc, lead and copper and related trace elements was done by ICP four acid digestion, with gold

analysis by 30-gram fire assay with an AA finish. All drilling reported is HQ core and has been contracted to Globexplore Drilling from

Hermosillo, Sonora, Mexico

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

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

November 2, 2021

. 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.

This press release uses the terms "Measured", "Indicated", and "Inferred" resources.

United States

investors are advised that while such terms are recognized

and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a

great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral

Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or

other economic studies.

United States

investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be

converted into Mineral Reserves.

United States

investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally

mineable.

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SOURCE

Kootenay Silver Inc.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/November2021/03/c0659.html

%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 08:30e 03-NOV-21

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