Mr. James McDonald reports

KOOTENAY SILVER ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING

Kootenay Silver Inc. has released the results of its annual and special meeting of shareholders held on Sept. 15, 2021. At the meeting, the shareholders of the company approved all resolutions placed before them by management as set out in the company's management information circular dated Aug. 12, 2021, including: (i) fixing the number of directors at five and electing Kenneth E. Berry, James M. McDonald, Brian Groves, Jon Morda and Antonio Reda as directors of the company for the ensuing year; (ii) the reappointment of MNP LLP, chartered professional accountants, as auditor of the company for the ensuing year at a remuneration to be fixed by the directors; (iii) the ratification of the company's stock option plan; (iv) the adoption of a share unit plan and deferred share unit plan for the company; (v) the statutory plan of arrangement among the company, the company's securityholders and Kootenay Resources Inc. (Spinco), a wholly owned subsidiary of the company; and (vi) the adoption of a rolling 10-per-cent stock option plan, share unit plan and deferred share unit plan for Spinco.

The plan of arrangement still remains subject to court and final TSX Venture Exchange approvals. Additional details regarding the effective date of the plan of arrangement will be provided in a subsequent press release once all approvals have been obtained.

About Kootenay Silver Inc.

Kootenay Silver 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.