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Thursday, 08/04/2022 9:33:50 AM

Thursday, August 04, 2022 9:33:50 AM

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Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to provide an update on drilling at the Columba high-grade silver project (the “Property”), located in Chihuahua State, Mexico.Significant progress has been made on the 15,000-meter drilling program announced earlier in the year, (see News Release dated May 6, 2022). A considerable proportion of assay results are outstanding, and the Company has initiated a pause, awaiting receipt of results to assist in targeting of additional step-outs.

Columba is a past producing high-grade silver underground mine and the area is known host to dozens of mineralized veins.Kootenay initiated its first drilling program in 2019 and has returned many high-grade silver intervals (for details see Columba Project).

The current program of drilling will test extensions of F Vein, D Vein, B Vein and JZ Veins as well as exploratory step-outs on other prospective veins.The 2022 program commenced with a series of drill holes targeting F Vein and D Vein. Core logging to date confirms that each hole at F and D successfully encountered its target.Pierce point locations including interval widths are shown in plan maps and long sections for F Vein and D Vein. Kootenay eagerly awaits results as additional holes may be warranted.

Current program vein intercepts from F Vein range from less than one meter to over 5 meters in drilled length in 7 holes for an average of 2 meters of drilled width. Associated stockwork veining and hydrothermal breccia zones adjacent to the F-Vein range from 6 to 30 meters in drilled length. True widths are estimated to range from 65 to 85% of drilled width.Step-outs from previous intercepts range from 50 to 75 meters, each hole successfully expanding the known size of the F Vein. Prior to this current program drilling had established 700 meters of strike along the F Vein down to a vertical depth of 200 meters and open to depth.

D Vein step-outs from previous drilling vary from 50 to 100 meters and all 11 holes from the current program intercepted the target.D Vein intervals to date range from 0.98 to 17.4 meters with an average of 6.9 meters downhole length with true widths estimated to range from 65 to 85% of downhole length. Including previous holes D Vein has been hit consistently along a strike of over 430 meters and a vertical extent of 340 meters and remains open in all directions.

Assays will be released once final assays are received and compiled. Turn around has been longer than anticipated.

See plan maps for F Vein and D Vein.

James McDonald, Kootenay’s President & CEO commented, “We are very excited to see such a high rate of drill success in hitting vein in all holes and now await receipt of the assay results.”

A comprehensive list of drill results completed on the Columba Property since 2020 can be viewed here: Columba Drill Results.