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KOOTENAY SILVER FILES FINAL BASE SHELF PROSPECTUS

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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

VANCOUVER, BC, March 28, 2024 /CNW/ - Kootenay Silver Inc. ("Kootenay" or the "Company") (TSXV: KTN) is pleased to announce that it has obtained a receipt for a final short form base shelf prospectus with the securities regulators in each province and territory of Canada.

Kootenay Silver Inc. logo (CNW Group/Kootenay Silver Inc.)
Kootenay Silver Inc. logo (CNW Group/Kootenay Silver Inc.)

This filing allows the Company and/or selling security holders to make offerings of common shares (including by way of an "at-the-market distribution" in accordance with applicable securities laws), warrants, subscription receipts, units, debt securities or any combination thereof for up to a maximum amount of C$40 million during the 25-month period over which the base shelf prospectus is effective.

The Company has filed this base shelf prospectus in order to have greater financial flexibility going forward, but has no immediate plans to issue any securities under it at this time, and may never proceed with any such issuance. Should the Company and/or selling security holders decide to offer securities during the 25-month effective period, the specific terms, including the use of proceeds, will be set forth in a prospectus supplement to the final base shelf prospectus, which will be filed with the applicable Canadian securities regulatory authorities.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

A copy of the short form base shelf prospectus can be found under the Company's profile on SEDAR+ at www.sedarplus.ca.

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.

On behalf of the board of directors and 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