Kootenay Silver Reveals Term Amendments for the Columba Option Agreement

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(Kootenay, 6.Apr.2023) — Kootenay Silver Inc. (TSXV: KTN) has amended the terms for the Columba option agreement to allow for 50% of the April 2023 payment of US$430,000 plus 16% IVA to be paid in common shares of the company.

The payment is due on 12 April 2023, and will be paid as follows US$215,000 cash and US$215,000 (plus 16% IVA) in Kootenay common shares calculated at the volume weighted average price of Kootenay for the previous twenty trading days with that price converted to US dollar value using the Bank of Canada‘s exchange rate over the twenty-day period. The final payment of US$215,000 which will be paid in cash, is due on 12 May 2023, after which the company will own 100% of the Columba project.

Additionally, the company has reached an agreement with an arm’s length party dated 31 March 2023 to resolve conflicting property interests, pursuant to which Kootenay will issue 2,018,710 in common shares in consideration of US$135,000 plus 16% IVA, based on the 20-day volume weighted average price prior to the agreement of $0.1064 per common share, converted by the US dollar to Canadian dollar average exchange rate for the 20 day period prior to 31 March 2023 of $1.3715.

The common shares to be issued under these agreements will have a hold period of four months and one day. The issuance of common shares is subject to TSX Venture Stock Exchange approval.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

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. ____________________

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