Mr. David Stein reports

KUYA SILVER ACQUIRING STRATEGIC LAND POSITION AROUND BETHANIA PROJECT

Kuya Silver Corp.'s wholly owned Peruvian subsidiary, Kuya Silver Peru SAC, has won claims covering approximately 1,800 net hectares in the immediate vicinity of the Bethania mine, to which mining concessions will be granted. The new concessions will be registered as Tres Banderas 03, Tres Banderas 04, Tres Banderas 05, Tres Banderas 06 and Tres Banderas 07.

David Stein, president and chief executive officer of Kuya Silver, stated: "We have been monitoring these properties in the Acobambilla district for several years and we are thrilled to finally get the opportunity to acquire strategic areas that are contiguous to our Bethania mine and Carmelita concessions. Recent exploration has demonstrated that the Bethania vein system appears to be larger than the original mining claim, so adding concessions surrounding the mine increases the exploration potential of the project."

Background

Kuya Silver first filed applications for a group of claims in available areas in the vicinity of the Bethania mine in November, 2020. However, since other companies filed applications at the same time, INGEMMET, the government body that governs the mineral concession system in Peru, was required to hold a sealed-bid auction in respect of each claim. For the purposes of the auctions, claims were divided into sections as small as 100 hectares (ha) (one kilometre (km) by one km). Earlier in November, Kuya Silver participated in 27 auctions, for claims covering a total of 2,800 ha, and submitted winning bids in 22 of those auctions, representing a total of 2,300 ha. Note that some of the claims for which Kuya Silver submitted the winning bids overlap with Kuya Silver's existing claims, so when the acquisitions are final, the net acquisition of new claims will be approximately 1,800 ha, bringing Kuya Silver's total holdings in the Acobambilla district to approximately 5,300 ha. Kuya Silver Peru SAC disbursed a total of 2.23 million Peruvian soles (approximately $565,000 (U.S.)) for the 22 mining concessions.

Other companies that participated in the public auction process for the same concessions include Anglo American Peru SA, Newmont Peru SRL, Minera Penoles de Peru SA, Compania Mineras Ares SAC (a subsidiary of Hochschild PLC), Hanaq Peru SAC, Minera Anaconda Peru SA (a subsidiary of Antofagasta PLC), Fresnillo Peru SAC and Minera Antares Peru SAC (a subsidiary of First Quantum Minerals Ltd.).

Christian Aramayo, Kuya Silver's chief operating officer, remarked: "Our team did an incredible job managing a highly competitive and challenging auction process involving as many as 12 other bidders. The recognition of this underexplored district by large international mining companies bodes well for future investment in exploration and development in this very prospective part of central Peru."

National Instrument 43-101 disclosure

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

About Kuya Silver Corp.

Kuya Silver is a Canadian-based mineral exploration and development company with a focus on acquiring, exploring and advancing precious metals assets in Peru and Canada.

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