KOOTENAY SILVER : ANNOUNCES DRILL RESULTS FROM COPALITO SILVER-GOLD PROJECT. HIGHLIGHTS INCLUDE 276 GPT SILVER EQ. OVER 23 METERS AND 642 GPT SILVER EQ. OVER 5 METERS

December 2, 2021

Kootenay Silver Announces Drill Results From Copalito Silver-Gold Project. Highlights

Include 276 gpt Silver Eq. Over 23 Meters and 642 gpt Silver Eq. Over 5 Meters

Kootenay Silver Inc. (TSXV: KTN) (the "Company" or "Kootenay") is pleased to announce results from the final drill holes of the 2021 program at the Copalito Silver-GoldProject in Sinaloa State, Mexico.

These holes are reporting on the Agua, 5 Senores and Chiva Veins. All veins continue to show excellent grades and grade potential with intervals grading as high as 1,300 gpt silver, 21 gpt gold and 27% combined lead plus zinc as detailed below.

Drilling has shown veins encountered are consistently anomalous in silver, gold, lead and zinc over 4 kilometers of strike in 6 different veins. We see several areas where grade and width show potential for mineralized shoots and resource definition. All veins are open to depth and a long strike with the majority of holes testing less than a 75meter vertical depth. Geologic mapping shows holes with no significant mineralization often hit fault zones off setting veins resulting in the holes missing their target.

Copalito shows the potential for substantial resources given the continuity of veins and mineralization. Drilling indicates potential for very high grades in at least 4 of the veins. Next steps will be focused on those areas, such as the 5 Senores and Agua Veins, of high grade with good widths in search of those dilational zones within the veins where mineralized shoots (bodies) may occur. For example, from this release alone, 587.3 gpt silver, 0.819 gpt gold, 1.58% lead-zinc over 3 meters. and 5 meters of 9.3 gpt gold,

27.6 gpt silver and 0.57% lead-zinc within 23 meters of 125 gpt silver, 2.0 gpt gold and 0.95% lead-zinc. In addition, several veins and strike extensions remain untested.

James McDonald, President and CEO remarked "The large strike continuity of the veins and mineralization indicate to us Copalito has good potential for the discovery of a large resource. Also impressive are the high gold, lead and zinc grades in numerous holes that add to this potential."

Luis Moya, Chief Geologist, states " With geologic mapping evidence was found that the 5 Señores vein extends 200 meters more to the SE. In some sectors the mineralization extends outside veins in envelopes of stockwork veinlets. With the drill holes mentioned we now see in the 5 Senores Vein continuity to 150 meters below the outcropping veins and open to depth. Some drill holes cut high-grade zones below previous holes where mineralization was not significant (section BDH-20-06 & BDH-21-55), in addition to blind veins without surface expression."

Drill Result Highlights from Holes BDH-21-051 to BDH-21-056 and BDH-21-080 in the Agua and 5 Senores Veins (The following drill highlights round to the nearest two decimal places and silver equivalent is noted as "silver Eq."):

Copalito Plan Map Holes BDH-21-050 to BDH-21-081

Highlights from Agua Vein:

BDH-20-055

• 276 gpt silver Eq. over 23 meters (2 gpt gold, 125 gpt silver and 0.92% lead plus zinc) including: o 642.54 gpt silver Eq. (9.26 gpt gold, 27.6 gpt silver and 0.57% lead plus zinc) over 5.00
  meters including:
  o 1408.51 gpt silver Eq. (21.1 gpt gold, 29 gpt silver and. 0.35% lead plus zinc) over 0.65 meters and
• 676.03 gpt silver Eq. (587.3 gpt silver, 0.82 gpt gold and1.58% lead plus zinc) over 3.00 meters

BDH-21-056

• 135.39 gpt silver Eq. over 21 meters (101 gpt silver, 0.22 gpt gold and 0.86% lead plus zinc) including:
  o 198.62 gpt silver Eq. (162.9 gpt silver, 0.28 gpt gold and 0.76% lead plus zinc) over 7 meters and 492 gpt silver Eq. over 1.50 meters.

CDH-21-80

• 422.78 gpt silver. Eq. over 0.43 meters (133 gpt silver, 0.69 gpt gold and 10.63% lead plus zinc) within 1.84 meters of 199.44 gpt silver Eq (63 gpt silver, 0.42 gpt gold and 4.75% lead plus zinc).

Agua VeinPlan MapandCross Sections

Highlights from Senores Vein:

BDH-20-051

• 289.62 gpt silver Eq. over 1.40 meters (2.95 gpt gold and 0.26% lead plus zinc).

BDH-20-052

• 173.74 gpt silver Eq. over 0.48 meters (1.286 gpt gold and 3.37% lead plus zinc) within 34.38 gpt silver Eq. over 3.30 meters and:
• 116.12 gpt silver Eq. (114.4 gpt silver, 0.02 gpt gold and 0.14% lead plus zinc) over 5.38 meters including:
  o 286.39 gpt silver Eq. (281 gpt silver, 0.06 gpt gold and 0.32% lead plus zinc) over 0.89 meters

5 Senores VeinPlan MapandCross Sections

Highlights from Chiva Vein in Holes BDH-21-057 to BDH-21-065:

BDH-21-057

• 546 silver Eq. over 0.82 meters (513 gpt silver, 0.229 gpt gold, and 0.80% lead plus zinc) within 118.14 gpt Silver Eq. over 6.33 meters consisting (106.5 gpt silver, 0.059 gpt gold, and 0.33% lead plus zinc).

BDH-21-058

• 1,364.03 gpt silver Eq. over 0.35 meters (300.0 gpt silver, 0.506 gpt gold, and 1.39% lead plus zinc) within 47.83 gpt silver Eq. over 12 meters (40.8 gpt silver, 0.070 gpt gold, and 0.11% lead plus zinc).

BDH-21-063

• 1,343.77 gpt silver Eq. over 0.32 meters (453 gpt silver, 4.49 gpt gold, 27.05% lead plus zinc) within 268.8 gpt silver Eq. over 1.82 meters (86.1 gpt silver, 0.924 gpt gold, and 5.46% lead plus zinc).

Chiva VeinPlan MapandCross Sections

Highlights from Pilar Vein in Holes BDH-21-66 to BDH-21-79

The Pilar Vein is showing higher gold and base metal grades as compared to other veins with a notable 5.2 gpt gold and 15.94% lead plus zinc with 103 gpt silver over 0.85 meters (CDH-21-63) in this news release.

CDH-21-69

• 275.21 silver Eq. over 1.24 meters (198 gpt silver, 0.78 gpt gold and 1.24 % lead plus zinc).

CDH-21-73

• 437.6 gpt silver Eq over 0.9 meters (4.36 gpt gold, 13.8 gpt silver and 6.12% lead plus zinc) within 3.52 meters of 163.5 gpt silver Eq. (16 gpt silver, 1.28 gpt gold and 2.8% lead plus zinc).

CDH-21-74

• 329.38 gpt silver Eq. over 0.9 meters (4.0 gpt gold, 20.1 gpt silver and 2.15% lead plus zinc) within 5.3 meters of 172.13 gpt silver Eq. (185 gpt silver, 1.1 gpt gold and 3.57 % lead plus zinc).

CDH-21-76

• 810.1 gpt silver Eq. over 0.85 meters (103.1 gpt silver, 5.2 gpt gold and 15.94 % lead plus zinc).

CDH-21-79

• 315.62 gpt silver Eq. over 0.45 meters (10 gpt silver, 3.37 gpt gold and 3.69% lead plus zinc) within 4.45 meters of 176.32 gpt silver Eq. (36 gpt silver, 1.05 gpt gold and 3.21% lead plus zinc).

Pilar VeinPlan MapandCross Sections

Detailed Drill Results - Holes BDH-20-050 to BDH-21-081

Hole ID

From

To

Interval

Silver

Gold

Lead +

Silver

Vein

(meters)

(meters)

(meters)

(gpt)

(gpt)

Zinc (%)

Eq. (gpt)

BDH-20-

44.68

63.63

18.95

32.8

0.171

0.29

50.74

5 Senores

050

Includes	45	51.77	6.77	50.3	0.148	0.24	65.50
	60.14	63	2.86	76.5	0.684	0.208	127.51
BDH-20-	58.6	70	11.40	36.5	0.500	0.31	68.99	5 Senores
051
	62.29	62.29	1.40	97.9	2.950	0.26	289.62
BDH-20-	73.3	76.6	3.30	14.2	0.236	0.62	34.38	5 Senores
052
	76.12	76.6	0.48	61.0	1.285	3.37	173.74
	95.68	96.52	0.84	16.0	0.696	0.92	62.76
	97.67	98.3	0.63	33.0	1.755	1.30	149.19
	138	143.38	5.38	114.4	0.019	0.14	116.12
	138.89	139.78	0.89	281.0	0.065	0.32	286.39
BDH-20-	8.48	12.94	4.46	87.3	0.048	0.07	92.07	Agua
053	(South)
	9	10	1.00	229.0	0.041	0.11	234.09
	21	32	11.00	26.1	0.147	0.17	39.18
	38	52	14.00	9.6	0.113	0.05	17.96
BDH-20-	16.8	20	3.20	75.7	0.039	0.16	81.69	Agua
054
	22	25	3.00	4.7	0.279	0.17	26.74
BDH-20-	78	101	23.00	125.0	2.004	0.92	276.07	Agua
055
	78	83	5.00	27.6	9.236	0.57	642.54
	81	81.65	0.65	29.0	21.100	0.35	1408.51
	97	100	3.00	587.3	0.819	1.58	676.03
	106	110	4.00	7.3	0.302	1.15	53.88
BDH-21-	50	71	21.00	101.4	0.220	0.86	135.39	Agua
056
	53	60	7.00	162.9	0.282	0.76	198.62
	60	61.5	1.50	439.7	0.482	0.93	492.12
BDH-21-	15.67	22	6.33	106.5	0.059	0.33	118.14	Chiva
057
	20.18	21	0.82	513	0.029	0.80	546.00
BDH-21-	21	33	12.00	40.8	0.070	0.11	47.83	Chiva
058
	31.1	31.45	0.35	1300.0	0.506	1.39	1364.03
	40.23	47.7	7.47	16.8	0.167	0.72	44.29
BDH-21-	28	28.8	0.80	16.5	0.342	0.18	56.17	Chiva
059
	44	44.7	0.70	21.0	0.159	0.08	35.83
BDH-21-	93	104	11	5.4	0.547	1.27	71.25	Chiva
060
	97	98	1	15.0	2.650	3.31	266.10
BDH-21-	28	30	2.00	19.2	0.867	0.44	86.15	Chiva
061
	28	28.64	0.64	5.0	1.895	0.31	135.23

BDH-21-	26	32.53	6.53		15.5	0.190	0.51	39.93	Chiva
062
BDH-21-	29.68	31.5	1.82		86.1	0.924	5.46	268.08	Chiva
063
	29.68	30	0.32		453.0	4.490	27.05	1343.77
BDH-21-	50.16	51.17	1.01		10.0	0.308	0.93	51.33	Chiva
064
BDH-21-	18	20	2.00		18.2	0.138	0.63	41.94	Chiva
065
	28.3	31	2.70		2.9	0.107	1.12	36.39
BDH-21-	2.2	4.78	2.58		68.7	0.087	0.31	81.45	Pilar Sur
066
BDH-21-				Anomalous
067					Values
BDH-21-	4.77	12	7.23		41.8	0.090	0.20	52.34	Pilar Sur
068
BDH-21-	4	18	14.00		54.9	0.510	0.34	72.63	Pilar Sur
069
	15	16.24	1.24		198.0	0.778	1.18	275.21
BDH-21-				Anomalous				Pilar
070					Values
BDH-21-				Anomalous				Pilar
071					Values
BDH-21-	87.57	89.11	1.54		7.4	0.424	0.37	43.57	Pilar
072
BDH-21-	118	127.5	9.50		7.0	0.506	1.22	68.01	Pilar
073
	120.88	121.12	0.24		31.0	1.930	11.85	426.56
	120.88	124.4	3.52		16.0	1.280	2.80	163.60
	123.5	124.4	0.90		13.8	4.362	6.12	436.65
BDH-21-	85	90.3	5.30		18.5	1.092	3.57	172.13	Pilar
074
	88.5	89.4	0.90		20.1	4.013	2.15	329.38
BDH-21-	68	78	10.0		14.2	0.724	1.67	61.26	Pilar
075
	68.35	69.2	0.85		103.1	5.196	15.94	440.83
BDH-21-				Anomalous
076					Values
BDH-21-				Anomalous
077					Values
BDH-21-				Anomalous
078					Values
BDH-21-	183.69	188.14	4.45		36.0	1.052	3.21	178.32	Pilar
079
	186.86	187.69	0.83		24.0	1.255	5.56	234.79
	187.69	188.14	0.45		10.0	3.370	3.69	315.62