KOOTENAY SILVER ANNOUNCES $4.0 MILLION PRIVATE PLACEMENT FINANCING OF UNITS

Vancouver, BC – February 8, 2022 – Kootenay Silver Inc. (“Kootenay” or the “Company”) (TSXV: KTN), is
pleased to announce that it has entered into an agreement with Research Capital Corporation, as sole agent and sole bookrunner (, the “Agent”) in connection with a best efforts, private placement of units of the Company (the “Units”) at a price of $0.16 per Unit (the “Offering Price”) for gross proceeds of up to $4,000,000 (the “Offering”).

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