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Kuya Silver Corp
Symbol KUYA
Shares Issued 39,666,190
Close 2021-04-28 C$ 2.57
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Kuya Silver starts drill program at Kerr

2021-04-29 09:11 ET - News Release

Mr. David Stein reports

KUYA SILVER LAUNCHES DRILL PROGRAM AT THE KERR SILVER PROJECT, ONTARIO

Kuya Silver Corp. has commenced an initial drill program at its 100-per-cent-owned Kerr project, which is part of the company's larger Silver Kings project. Kuya has planned to drill at least 2,500 metres in this initial program that is expected to commence shortly.

Kuya's focus for the initial drill program is in the vicinity of the Drummond, Kerr Lake, Crown reserve and Silver Leaf mines. The four contiguous mines are recorded to have produced more than 52 million ounces of silver, with the vast majority of the production predating 1920, and was generally mined up to 100 metres from surface. Some of the high-priority targets in the first program include: a potential new zone that may represent a northward extension of the Drummond mine, where 2018 drill hole FCC-18-0093* intersected 2.2 metres of 515 grams per tonne silver and 0.61 per cent cobalt (including 0.7 metre of 1,460 g/t silver and 1.81 per cent cobalt) from 172.1 m; and the Silver Leaf mine area, where 2018 drill hole FCC-18-0174 intersected 2.5 metres of 1,441 g/t silver and 0.28 per cent cobalt from 66.0 metres. There is a significant concentration of underground workings known above this latter zone, yet it appears to be open at depth (*Note: Individual assays were capped at 1,500 g/t silver in hole FCC-18-0093).

The company's president and chief executive officer, David Stein, stated: "We are very excited to start Kuya's second diamond drill program in 2021. Since closing the acquisition of the Kerr project in March, we have been reviewing a vast amount of historical exploration work and other geological data. Even though the Kerr Lake, Crown reserve, Drummond and Silver Leaf mines have been heavily worked, we have found little evidence of much activity below 100 metres and see tremendous potential to extend known mineralization at depth and discover new silver veins. In its peak year, 1909, this group of four mines alone produced more than seven million ounces from multipercent silver ore, so today with better exploration, mining and processing methods, we see a huge opportunity to unlock value in Canada's richest silver camp."

National Instrument 43-101 disclosure

The technical content of this news release has been reviewed and approved by David Lewis, PGeo, exploration manager of Kuya and a qualified person as defined by National Instrument 43-101.

About Kuya Silver Corp.

Kuya is a Canadian-based silver-focused mining company that owns the Bethania project, which includes the Bethania mine, located in Central Peru. The Bethania mine was in production until 2016, toll milling its ore at various other concentrate plants in the region, the company's plan is to implement an expansion and construct a concentrate plant at site before restarting operations. The Bethania mine produced silver-lead and zinc concentrates from the run of mine material, until being placed on care and maintenance due to market conditions and lack of working capital.

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