KOOTENAY DRILLS MULTIPLE SILVER INTERCEPTS ON FIVE DIFFERENT VEINS AT COLUMBA SILVER PROJECT, MEXICO

November 19, 2019 Download PDF

Highlights Include 6.25 Meters of 244 gpt Silver with 373 gpt Silver over 1.5 meters

Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce assay results from the next ten core drill holes testing five veins (I, D, E, J and Z) at the Columba high-grade silver project (the “Property”) in Chihuahua State, Mexico.

Recent Highlights of the Continuing Drill Program:

  • Hole CDH-19-022: 244 gpt silver over 6.25 meters including 373 gpt silver over 1.5 meters intercepting the D Vein;
  • Hole CDH-19-021: 187 gpt silver over 1.2 meters intercepting the D Vein and 51 gpt silver over 23.8 meters including 191 gpt silver over 2.0 meters in the footwall (D Vein);
  • Hole CDH-19-025: 105 gpt silver over 7.6 metres including 32 gpt silver over 98.1 metres in stockworks and breccias (J Vein);
  • Hole CDH-19-027: 115 gpt silver over 6.56 meters intercepting the J Vein (fault)
  • Hole CDH-19-028: 72 gpt silver over 14.0 meters including 95 gpt silver over 10 meters intercepting stockwork along the J Vein;
  • Drilling not only confirmed intercepts of high-grade silver, but also potential bulk-minable silver mineralization with significant exploration potential remaining along strike and depth on several veins.

Click the following links to view: Plan Map and Cross Sections for holes 19 to 28

Kootenay President and CEO James McDonald states, “These results continue to show excellent resource potential at Columba with all holes reporting good silver mineralization. We are now seeing silver in widespread stockwork/breccia zones which we believe may coalesce into high grade ‘feeder’ veins a little deeper than tested. In the D Vein holes contain grades to 373 gpt silver even though we are almost 75 meters higher than where we see high grade in the nearby F Vein which indicates good potential for higher grades a little deeper than tested.” (Click link to view a graphic example of zonation for lower to higher grades with increasing depth).

Detailed Drill Results:

Hole ID From (meters) To (meters) Interval (meters) Silver gpt Pb % Zn % Geologic Intersection
CDH-19-019 15 27 12.0 35 0.01 0.08 Hanging Wall vein
53.55 79.3 25.75 25 0.01 0.05
102 119.04 17.04 42 0.03 0.07 Hanging Wall & I vein
Includes 109.8 110.32 0.52 175 0.308 0.462 I Vein (Faulted)
CDH-19-020 95 97 2.0 147 0.032 0.1 Hanging Wall vein
179.06 180.04 0.98 122 0.126 0.513 Hangwall Vein
259 260.75 1.75 113 0.077 0.332 Hangwall of I Vein?
CDH-19-021 91 92.2 1.2 187 0.1 0.361 D Vein
92.2 116 23.8 51 0.02 0.1 Footwall stockwork-breccias
Includes 112 114 2.0 191 0.084 0.168
CDH-19-022 77.75 84 6.25 244 0.117 0.231 D Vein
Includes 79.3 80.8 1.5 373 0.211 0.403
CDH-19-023 139.9 150.2 10.3 60 0.034 0.085 E Vein
Includes 143 144 1.0 138 0.046 0.115
157.1 158.74 1.64 236 0.074 0.068 Footwall E Vein
175.35 176.6 1.25 145 0.028 0.08
193.38 194.34 0.96 146 0.047 0.072
201 202 1.0 138 0.067 0.044
CDH-19-024 29.48 31 1.52 198 0.05 0.138 J Vein
Includes 30.5 31 0.5 358 0.033 0.337
48.8 74 25.2 47 0.02 0.087 Z Vein-Breccias
Includes 53.4 54.9 1.5 160 0.064 0.167 Z Vein
CDH-19-025 135.2 233.3 98.1 32 0.03 0.119 Stockworks and Breccias
Includes 186.05 193.65 7.6 105 0.103 0.411
CDH-19-026 89 172 83.0 28 0.02 0.06 Stockworks and Breccias
CDH-19-027 120.09 147 26.91 43 0.05 0.1 Faulted J Vein
Includes 121 127.56 6.56 115 0.18 0.25
Includes 126.17 127.56 1.39 247 0.8 0.56
CDH-19-028 138 205 67.0 40 0.03 0.08 Hydrothermal breccia and Stockwork
Includes 153 167 14.0 72 0.03 0.09 Stockwork
Includes 160 162 2.0 163 0.23 0.31
Includes 195 205 10.0 95 0.11 0.21

All widths are drilled widths. At this time, it is estimated true widths will range from 60 to 80% of drilled widths depending on dip of the vein and inclination of the hole. All silver composites rounded to the nearest whole number.

Expanded Drilling Discussion with Highlights:

CDH 19-019 to 19-020: Holes 19 and 20 tested the I Vein. Hole 19 had the vein faulted off and hole 20 was stopped just short of the vein yielding a good silver assay at the bottom of the hole. This hole will be deepened to test the mineralization at the bottom of the hole and the projection of the I Vein.

CDH 19-021 to 19-023: These holes tested the D and E Veins a few hundred meters south of the historically mined high grade in the F Vein. Up to 373 gpt silver was encountered even though the holes were 50 to 75 meters higher in elevation than high grades in the F Vein. Zonation from low grade to higher grades are typical of these types of vein systems and well documented at Columba. Thus, there is good potential for high grades a little deeper than tested so far. (see figure)

CDH 19-024 to 19-028: These holes were targeted on the J, Z and E Veins about 700 meters east of the historically mined F Vein. Most were drilled at depths a little above the level of high grades seen in the F Vein and so deeper follow-up drilling will be conducted. Very broad zones of low grade stock work and breccia up to 98 meters wide were hit with higher grades up to 356 gpt silver over 0.5meters, 115 gpt silver over 6.56 meters and 105 gpt silver over 7.6 meters. There is a strong increase in grade from less than 10 gpt at surface to values up to 356 gpt silver in only 100 meters of dip extent. These stock work zones have potential to coalesce into high grade feeder veins at depth. (see figure)

Drilling continues at the Property with a total of 37 holes completed to date. Further drill assays and details from subsequent work will be reported once the Company has received and compiled the results.

Qualified Persons

The Kootenay technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed and approved on behalf Kootenay by James McDonald, P.Geo, President, CEO & Director for Kootenay, a Qualified Person.

Sampling and QA/QC at Columba

All technical information for the Columba exploration program is obtained and reported under a formal quality assurance and quality control ("QA/QC") program. Samples are taken from core cut in half with a diamond saw under the direction of qualified geologists and engineers. Samples are then labeled, placed in plastic bags, sealed and with interval and sample numbers recorded. Samples are delivered by the Company to ALS Minerals ("ALS") in Chihuahua. The samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS in Vancouver, B.C. Systematic assaying of standards, blanks and duplicates is performed for precision and accuracy. Analysis for silver, zinc, lead and copper and related trace elements was done by ICP four acid digestion, with gold analysis by 30-gram fire assay with an AA finish. All drilling reported is HQ core and has been contracted to Globexplore Drilling from Hermosillo, Mexico.

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.

About Kootenay Silver Inc.

Kootenay Silver Inc. 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.

For additional information, please contact:
James McDonald, CEO and President at 403-880-6016
Ken Berry, Chairman at 604-601-5652; 1-888-601-5650
or visit: www.kootenaysilver.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

The information in this news release has been prepared as at November 18, 2019. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms.

Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Kootenay as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, Kootenay expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Kootenay’s expectations or any change in events, conditions or circumstances on which any such statement is based.

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

This press release uses the terms "Measured", "Indicated", and "Inferred" resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.

2019 number 22