On November 8, 2022, Kootenay Silver Inc. (“Kootenay Silver”) announced the closing of its brokered private placement financing (the “Private Placement”) of 39,561,110 units (each, a “Unit”) at a purchase price of $0.09 per Unit (the “Offering Price”) for gross proceeds of $3.56 million, with a non-brokered portion of the Private Placement consisting of 15,994,445 Units at the Offering Price for gross proceeds of $1.44 million, for aggregate gross proceeds to Kootenay Silver of $5 million. Each Unit was comprised of one common share in the capital of Kootenay Silver (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.135 per share until November 8, 2025.

Kootenay Silver is a mineral 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 Silver continues to provide its shareholders with significant leverage to silver prices. Kootenay Silver 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.

Further details regarding Kootenay Silver and the Private Placement can be found on Kootenay Silver’s website. Kootenay Silver trades under the symbol “KTN” on the TSX Venture Exchange.