NOTICE TO READER The reader is advised of the following correction to the news release issued by the Kootenay Silver on
NOTICE TO READER
The reader is advised of the following correction to the news release issued by the Kootenay Silver on
November 12, 2020 with the following title:
“KOOTENAY INTERCEPTS 933 GPT SILVER EQUIVALENT OVER 2.25 METERS FROM FINAL DRILL-HOLES
COMPLETED AT COPALITO SILVER-GOLD PROJECT, MEXICO”
The footnote to the table of “Detailed Drill Results – Holes BDH-20-034 to BDH-20-040” found on in the
news release incorrectly read:
“Note: Estimated true widths range from 85 to 90% of drilled widths depending on dip of the vein and
inclination of the hole. All silver composites rounded to the nearest whole number”
Readers are advised that the correct footnote should read:
“Note: Estimated true widths range from 65 to 90% of drilled widths depending on dip of the vein and
inclination of the hole. All silver composites rounded to the nearest whole number”
November 12, 2020
KOOTENAY INTERCEPTS 933 GPT SILVER EQUIVALENT OVER 2.25 METERS FROM
FINAL DRILL-HOLES COMPLETED AT COPALITO SILVER-GOLD PROJECT, MEXICO
Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce results
from the remaining seven holes of the 40-hole program totaling 4,153 meters at the Cop alito silver-gold
project (the “Property”) , located in Sinaloa S tate, Mexico. Th ese results are part of the first ever drill
program at the Property with previous results from the program announced in July and October 2020.
Highlights from Holes BDH-20-34 to BDH-20-40 include:
BDH-20-040 in the 5 Senores Vein
• 1,813 gpt silver equivalent (“Eq”) over 0.51 meters consisting of 16.95 gpt gold , 369 gpt silver
and 3.74% lead plus zinc within
o 933 gpt silver Eq over 2.25 meters consisting of 6.65 gpt gold, 335 gpt silver and 2.6%
lead plus zinc; and
o 311 gpt silver Eq over 9.05 meters consisting of 2.09 gpt gold, 124 gpt silver and 0.795%
lead plus zinc.
• This hole is one of the deepest vertical holes drilled to date at an elevation of about 600 meters
above sea level.
BDH-20-039 in the 5 Senores Vein
• 213 gpt silver Eq over 3.3 meters consisting of 128.1 gpt silver, 0.66 gpt gold, and 1.17% lead
plus zinc and 183.66 gpt silver Eq over 4.0 meters consisting of 109.6 gpt silver, 0.84 gpt gold, and
0.26% lead plus zinc within:
o 93.78 gpt silver Eq over 27.4 meters consisting of 60.4 gpt silver , 0.28 gpt gold and 0.4%
lead plus zinc
BD- 20-037 in the 5 Senores Vein
• 1,260.81 gpt silver Eq over 1 meter consisting of 846 gpt silver, 3.11 gpt gold and 6.15% lead
plus zinc within:
o 735.3 gpt silver Eq over 2.25 meters consisting of 483.8 gpt silver, 2.18 gpt gold and
2.86% lead plus zinc and 211.48 gpt silver Eq over 10 meters consisting of 128.5 gpt silver,
0.655 gpt gold and 1.13% lead plus zinc.
James McDonald, President and CEO, states “We are very pleased the first ever drill program conducted
on Copalito has shown excellent grade potential and continuity of vein structures. This indicates the
potential for discovery and delineation of high-grade resources is good.”
Luis Moya, Chief Geologist, comments “After receiving the geochemical analyses of the last 7 of 40 holes
it can be concluded the drilling campaign ended successfully. The last holes establish continuity to depth
and along strike with high grade potential exhibiting values of up to 16.95 gpt gold and 846 gpt silver.”
Drilling Discussion
The drill program tested 4,153 meters along a classic Mexican epithermal vein system. A follow up drill
program will now be designed, the details of which will be released once complete. The follow up program
will be guided by detailed structural mapping and possibly geophysics.
The drill program also returned high-grade values from other previously released drill holes targeting such
veins as the Pilar Vein with gold values up to 7.05 gpt and 13.55% lead plus zinc (BDH-20-33); the Chiva
Vein with silver values up to 936 gpt (BDH-20-09); and the Cobriza Vein with silver values up to 307
gpt. The seven remaining holes, BDH- 20-34 to BDH -20-40, focused on the Pillar and 5 Senores veins
located within the southeast region of the Property.
Along with previous drill holes, good continuity and grade potential has been shown for at least 600 meters
of strike length along the 5 Senores vein. Previously released BDH-20-04 drilled into 5 Senores contained
silver equivalent values up to 2,843 gpt. Grade highlights from drilling ranged to 2,830 gpt silver (BDH-
20-04) and 16.95 gpt gold (BDH-20-40); see the Company’s news release dated July 22, 2020.
Plan Map of Hole BDH-20-001 to BDH-20-40. Click here to view larger version.
Cross Sections for BDH-20-039/BDH-20-049 and BDH-20-37. Click here to view larger versions.
Detailed Drill Results – Holes BDH-20-034 to BDH-20-040
Hole ID From
(meters)
To
(meters)
Interval
(meters)
Silver
(gpt)
Gold
(gpt)
Lead+
Zinc
(%)
Silver
Eq
(gpt)
Vein
BDH-20-034 No Significant Values Pilar
BDH-20-035 No Significant Values Pilar
BDH-20-036 19 27.55 8.55 14.8 0.269 1.365 72.36 Pilar
and 21.55 24.5 2.95 21.3 0.434 2.873 131.93
BDH-20-037 42.0 52.0 10.00 128.5 0.655 1.138 211.48 5 Senores
includes 45.75 48.0 2.25 483.8 2.187 2.865 735.30
includes 47.0 48.0 1.00 846.0 3.11 6.15 1,260.81
BDH-20-038 No Significant Values 5 Senores
BDH-20-039 0 4.55 4.55 94.9 0.023 0.162 101.20 5 Senores
and 15.0 42.4 27.40 60.4 0.282 0.406 93.78
includes 19.0 23.0 4.00 109.6 0.846 0.265 183.66
includes 31.0 34.3 3.30 128.1 0.664 1.174 213.00
BDH-20-040 26.0 35.05 9.05 124.0 2.09 0.795 311.00 5 Senores
includes 31.0 33.25 2.25 335.0 6.65 2.625 933.38
includes 32.12 32.63 0.51 369.0 16.95 3.74 1,813.00
and 43.0 55.2 12.20 24.0 0.411 1.004 83.81
includes 51.1 51.65 0.55 93.0 1.07 4.63 301.09
includes 53.55 54.59 1.04 32.0 1.52 3.394 245.00
* Silver equivalent based $24/oz silver $1900/oz gold, $1/lb zinc, $0.8/lb lead
Note: Estimated true widths range from 65 to 90% of drilled widths depending on dip of the vein and inclination of the hole. All
silver composites rounded to the nearest whole number
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.
Sampling and QA/QC
All technical information for the Copalito 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 Hermosillo, Sonora. The samples are dried, crushed and pulverized with the
pulps being sent airfreight for analysis by ALS in North 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 contr acted to Globexplore Drilling from
Hermosillo, 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.
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 the states of Sonora, Sinaloa and Chihuahua, Mexico, respectively.
For additional information, please contact:
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
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at November 11 , 2020. 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 o r 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 In ferred
Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned no t 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.