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Kuya Silver Announces Flow Through Financing to Fund Exploration at the Silver Kings Project, Ontario, Canada

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Toronto, Ontario--(Newsfile Corp. - June 10, 2024) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") announces it intends to complete a non-brokered flow-through private placement for aggregate gross proceeds of up to CDN$2,000,000 (the "Offering"). Under the Offering, the Company will issue up to 4,166,667 flow-through units (each, a "FT Unit") at a price of CAD$0.48 per FT Unit. Each FT Unit is comprised of one (1) common share in the capital of the Company that qualifies as a "flow-through share" for the purposes of the Income Tax Act (Canada) (each, a "FT Common Share") and one-half of one (1/2) non-transferable common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one (1) non-flow-through common share in the capital of the Company (each a "Common Share") at price of CAD$0.64 per Common Share for a period of 24 months from the date of issuance. The proceeds from the Offering will be used for expenditures that qualify as Canadian Exploration Expenses, within the meaning of the Income Tax Act (Canada), to carry out exploration programs on the Company's Canadian properties.

In connection with the Offering, the Company may pay finder's fees to qualified non-related parties, in accordance with the policies of the Canadian Securities Exchange (the "Exchange"), including a cash commission equal to 6% of total proceeds raised and an equity commission in Common Shares equal to 6% of the total FT Units issued, at a deemed price per share of CDN$0.43.

All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring 4 months and 1 day after issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.

Kuya Silver's President and CEO stated, "Following up from our successful exploration in 2023 and discovery of the Angus Vein at the Campbell-Crawford prospect we are very pleased to be able to fund one or more significant drilling campaigns over the coming year. This puts us in the position to continue to build value for the Silver Kings project while we are ramping-up production from our Bethania silver mine in parallel."

About Kuya Silver Corporation

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.