Kootenay Silver Inc. (TSXV: KTN) (the 'Company' or 'Kootenay') is pleased to announce that its joint venture ('JV') partner and JV operator, Aztec Minerals Corp. ('Aztec') continues to intersect broad, high-grade, gold mineralization during the 2022 RC drill program at the California target on the Cervantes property located in Sonora, Mexico.

The best of three drill holes reported in this news release is CAL22-004 which intercepted: 167.2 meters grading 1.002 gpt gold including 24.4 meters grading 4.247 gpt gold.

Two fences of drilling have now been completed on each side of the previously drilled fence of holes on the California shallow oxide gold target with the objective of expanding the size of the zone identified in 2017-2018 drilling. This has been successful so far with a foot print now measuring 250 to 500 meters wide and 900 meters long with mineralization continuous vertically to at least 245 meters.

California Zone Drill Highlights

1.002 gpt gold over 167.2 meters in mineralized quartz feldspar porphyry, including 24.4 meters of 4.247 gpt gold in CAL22-004, located in the central part of the mineralized zone

0.374 gpt gold over 99.1 meters in mineralized porphyries and hydrothermal breccias in CAL22-002 located at the west end of the mineralized zone

0.451 gpt gold over 45.7 meters in mineralized porphyries in CAL22-003, including 13.7 meters of 0.868 gpt gold located at the south end of the mineralized zone

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. 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.

Contact:

James McDonald

Tel: 403-880-6016

Web: www.kootenaysilver.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

The information in this news release has been prepared as at February 22 2022. 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.

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