Kootenay Silver Inc (KOOYD)

[basserdan]

Kootenay Silver Hits 183 gpt Silver Eqv over 25 Meters (94 gpt Ag, 0.75 Au, 2.41% Pb+Zn) Including 305 gpt Silver Eqv Over 5 Meters (162 gpt Ag, 0.83 Au, 4.83% Pb+Zn) as Drill Program Continues on Promontorio High-Grade Zone

Shares Outstanding: 62,808,850

VANCOUVER, October 23, 2013 /PRNewswire/ -- Kootenay Silver Inc. (TSX VENTURE: KTN.V; OTC: KOOYF) ("Kootenay") is pleased to announce assay results from a further 3 drill holes as part of its ongoing multi-phase drill and resource expansion program on its flagship Promontorio Silver Project in Sonora, Mexico. The current phase of drilling is focused on a series of high-grade silver intercepts recently identified within a new breccia zone of silver mineralization situated between the Pit and NE Zones. (See June 4, 2013 news release). All 3 holes intercepted significant mineralization. There are currently 7 additional holes finished that are either in the assay laboratory for processing or being prepared on site for delivery to the assay laboratory.

Drilling Highlights:

DH 191 Returned: 183 gpt Silver Eqv. Over 25.0 Meters

  * Including 305 gpt Silver Eqv. Over 5.0 Meters 
  * Including 325 gpt Silver Eqv. Over 3.0 Meters

DH 190 Returned: 101 gpt Silver Eqv. Over 38.0 Meters
DH 192 Returned: 147 gpt Silver Eqv. Over 2.0 Meters
DH 192 Returned: 42 gpt Silver Eqv. Over 35.0 Meters

States Kootenay Silver President and CEO James McDonald, "We are very pleased with initial results from the current program. All 3 holes drilled in the new breccia zone show high-grade mineralization is continuing from the Northeast Zone to the southwest towards the Pit Zone. The results are very positive as they are building on continuity of high-grade mineralization going into the Central Zone between the Pit and Northeast Zones. The holes sit in an area between the Northeast Zone and previous drill holes DH 183, 185, 186, 188, and underscore the potential for establishing continuity of higher grades throughout the zone and for adding substantial additional tonnage to the resource."

(click on link at bottom of page to view drilling table)

*Assuming 100% Metallurgical Recovery
*Prices used in Silver Equivalent (AgEq) Calculations:
Ag dollars/oz.: $31.00
Au dollars/oz.: $1650.00
Pb dollars/lb.: $0.97
Zn dollars/lb.: $0.89

To view map of drill results visit: http://www.kootenaysilver.com/i/projects/Promontorio/NE_Zone_Plan.pdf

All holes are reported as drill lengths. Because of the meandering nature of mineralization within breccia's and surrounding stockworks determining dimensions of mineralization is only possible after numerous holes define the boundaries of mineralized bodies.

Current NI 43-101 Compliant Silver Resource

The current mineral estimate on Promontorio effective date March 31, 2013 (See May 14, 2013 news release) contains a combined Measured and Indicated silver resource of 92,428,000 silver equivalent ounces (39.9M oz's Ag, 508K oz's Au, 394.8M lb's Pb, 462.2M lb's Zn). In addition to the measured and indicated silver resources, there are an additional 26,814,000 silver equivalent ounces in the Inferred category (12.8M oz's Ag, 147 oz's Au, 99.5M lb's Pb, 109.1M lb's Zn). Measured and Indicated resources are contained in open pit resources of 44,504,000 tonnes grading an average of 64.32 gpt silver equivalent (27.77 gpt Ag, 0.35 gpt Au and 0.87% Pb+Zn) and resources outside of the open pit of 215,000 tonnes grading an average of 56.96 gpt silver equivalent (22.89 gpt Ag, 0.28 gpt Au and 0.95% Pb+Zn). Inferred resources are within open pit resources of 14,564,000 tonnes grading an average of 51.95 gpt silver equivalent (24.95 gpt Ag, 0.28 gpt Au and 0.59% Pb+Zn) and resources outside of the open pit of 1,265,000 tonnes grading an average of 61.17 gpt silver equivalent (26.57 gpt Ag, 0.37 gpt Au and 0.74% Pb+Zn).

The current NI 43-101 Resource Estimation conducted on Promontorio by SRK Consulting Inc. (U.S.) of Lakewood, Colorado (See May 14, 2013 news release), included gold assay results in the updated resource estimation. As a result of the addition of gold, the mineral resource is now contained in a single larger optimized Whittle Pit, as opposed to two individual smaller pits as reported in the August 21, 2012 resource estimate. The decision to include gold in the resource estimation follows extensive metallurgical testing and technical analysis conducted by ALS Minerals of Kamloops, British Columbia that confirmed up to 94.5% recovery of gold from pyrite concentrates from the Promontorio resource can be achieved using a post pressure oxidation treatment process.

QA/QC

All drill holes reported were drilled using HQ sized diamond drill core and drilled by B.D Drilling Mexico, S.A. de C.V of Guadalajara, Mexico. Further Quality Assurance and Control procedures and details on assays procedures and laboratories used are disclosed on the Kootenay Silver Inc. website.

The foregoing geological disclosure has been reviewed and verified by Kootenay's CEO, James McDonald, P.Geo (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr. McDonald is a director of Kootenay.

ABOUT KOOTENAY

Kootenay Silver Inc. is actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Its flagship property is the former producing Promontorio Silver mine in Sonora State, Mexico. Kootenay's objective is to develop near term discoveries and long-term sustainable growth. Its management and technical team are proven professionals with extensive international experience in all aspects of mineral exploration, operations and venture capital markets. Multiple, ongoing J/V partnerships in Mexico and Canada maximize potential for additional, new discoveries while maintaining minimal share dilution.

For additional information, please contact:

James McDonald,
CEO and President at [phone]

Ken Berry,
Chairman at [phone]; 1-888-601-5650

or visit: http://www.kootenaysilver.com

http://www.stockhouse.com/news/press-releases/2013/10/23/kootenay-hits-183-gpt-silver-eqv-over-25-meters-94-gpt-ag-0-75-au-2-41-pb-zn