Kootenay Silver reports best Columba intercept to date

2,035 gpt silver over 6 meters within wider intervals of 805 gpt silver over 17 meters and 333 gpt silver over 44 meters featuring a project high 9,840 gpt silver over 0.92 meters

Kootenay Silver Inc. [TSXV: KTN] (the “Company” or “Kootenay”) is pleased to announce results for 6 additional drill holes from the Columba High-Grade Silver Project in Chihuahua State, Mexico. These holes, CDH-21-102 to CDH-21-107, test across the J-Z trap zone some 700 meters east of the F vein.

Importantly CDH-21-103 is the third hole that appears to be defining a very high-grade mineralized body intersected now in 3 holes and defining a zone in drilling thus far in a 40 by 60 meter east west orientation with at least 80 meters of dip extent. The body appears to be pipe like in shape and plunge moderately to the northeast and is open up and down dip.

This particularly high-grade zone of hydrothermal breccias and stockwork in CDH-21-103 has now been hit in three holes as follows.

Previously released:

Hole CDH-19-030

• 982 gpt silver over 1.9 meters within 721 gpt silver over 4.07 meters and 200 gpt silver over 25.85 meters and

Hole CDH-20-060

• 608 gpt silver over 5 meters within 361 gpt silver over 11 meters and 229 gpt silver over 22 meters

And from this release:

Hole CDH-21-103

• 2,035 gpt silver over 6 meters within 805 gpt silver over 17 meters and 333 gpt silver over 44 meters.
• A project high assay of 9,840 gpt silver over 0.92 meters.

3D model of Columba featuring the JZ Trap Zone and select high-grade intercepts (Click to view)

Click to view plan map and cross sections (Holes CDH-21-103, 106, 107).

Kootenay President and CEO, James McDonald states, “This is a very exciting hit in hole 103 being the best drill hole to date. It indicates the high grades in holes 30 and 60 have continuity and show a vector in which to follow and expand this very high-grade zone. This certainly bolsters our confidence that the JZ area is another area on the property where high grade resource may be put together.”

Gustavo Gallego, Kootenay’s Chief Geological Engineer added “The hard work and commitment of our technical team has led us to the discovery and definition of the high-grade trap zone trend, we look forward to phase 4 drilling to be able to extend this zone and continue finding high silver grades at the same time that we discovered, defined and expanded the different targets at Columba. We reiterate our gratitude to our corporate office for allowing us to develop and execute our hypotheses.”

Also of importance is the intercept in CDH-21-106 of 316 gpt silver over 4 meters including 406 gpt silver over 2 meters. This intercepted the O Vein some 300 meters along strike of hole CDH-21-101 which hit 459 gpt silver over 1.6 meters with 1,190 gpt silver over 0.5 meters. These two holes appear to have both hit the O Vein opening up another large area of strike potential. Hole CDH-21-107 likely hit O Vein with 111 gpt silver over 5.5 meters. Other holes in the East Block are interpreted to have hit the structure too high to encounter good silver grades.

The East Block has only been explored in the current phase 3 drill program. Results were released recently in the Company’s August 26, 2021 news release. Exploring the area converging the J-Z Zone and East Block, the J-Z Trap Zone, will further elucidate the continuity, strike length, and existence of substantive high-grade mineralization.

Drill Highlights – Holes CDH-21-102 to CDH-21-107:

CDH-21-103

• 805 gpt silver over 17 meters within 333 gpt silver over 44 meters including:
• 2,035 gpt silver over 6 meters within 1,201 gpt silver over 11 meters; and a high of
• 9,840 gpt silver over 0.92 meters

CDH-21-104

• 154 gpt silver over 2.45 meters within 100 gpt silver over 5 meters; and
• 168 gpt silver over 2.5 meters within 124 gpt silver over 4.12 meters; and
• 800 gpt silver over 1 meter

CDH-21-105

• 288 gpt silver over 2 meters within 174 gpt silver over 2.5 meters

CDH-21-106

• 417 gpt silver over 2 meters within 316 gpt silver over 4.0 meters; and
• 34 gpt silver over 21 meters

Detailed Drill Results – CDH-21-102 to CDH-21-107

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.

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 October 5, 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.