Kootenay Silver Inc. (TSX-V: KTN) announces that it has closed the second and final tranche of its previously announced (see news releases dated February 1, 5 and 16, 2024) non-brokered private placement of units of the Company, at a price of $0.75 per Unit for aggregate gross proceeds of $237,525. The Company received total aggregate gross proceeds of $3,720,587 from the Offering.

Each Unit is comprised of one common share of the Company and one-half of one Common Share purchase warrant. Each Warrant is exercisable to acquire one Common Share at a price of $1.10 per Warrant Share for a period of 24. An aggregate total of 4,960,782 Common Shares and 2,480,391 Warrants were issued under the Offering.

The net proceeds from the Offering will be used for exploration activities, property commitments on the Company’s projects, working capital and general corporate purposes. The Offering is subject to the final acceptance of the TSX Venture Exchange.

All securities issued in connection with the Offering are subject to a Canadian securities law resale restriction period expiring on June 17, 2024. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

In connection with the closing of the final tranche of the Offering, the Company paid a cash finders’ fee of $1,200 to an arm’s length finders.  For disclosure relating to finder’s fees paid in connection with the first tranche of the Offering, as well as to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, please see the Company’s news release dated February 16, 2024.

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. 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.