/C O R R E C T I O N -- Kootenay Silver Inc./

In the news release, Kootenay Silver Presentation Pre-PDAC Mining Showcase, issued 28-Feb-2023 by Kootenay Silver Inc. over CNW, we are advised by the company that the time in the second paragraph should read "9:10 a.m. on Friday March the 3rd" rather than "8:30 a.m. on Friday March the 3rd" as originally issued inadvertently. The complete, corrected release follows:

VANCOUVER, Feb. 28, 2023 - Kootenay Silver Inc. (TSXV: KTN) (the "Company" or "Kootenay Silver") is pleased to be presenting at the Pre-PDAC Mining Showcase hosted by Red Cloud Financial Services Inc., an in-person event taking place at the Sheraton Centre Hotel in Toronto, Canada on March 2^nd and 3^rd.

Kootenay Silver invites shareholders and interested silver investors to come and see the Company's President and CEO James McDonald present the company at 9:10 a.m. on Friday March the 3^rd.

Says James McDonald, "We invite you to come and hear about the exciting potential of the high-grade silver discovery Columba and why we think it is likely an almost entirely intact new vein district in Mexico. It is easy to understand our excitement when you see high-grade intercepts in multiple veins like 6 meters of 2035 gpt silver, 17.8 meters of 650 gpt silver, 4.6. meters of 1186 gpt silver and 9.7 meters of 1746 gpt silver^*. We look forward to presenting to you."

^*Respectively holes CDH-21-103, CDH-22-110, CDH-21-82, and CDH-22-125 and widths are drilled widths, true widths will typically vary from 90% to 45% of drilled length. See Kootenay's website for full details.

A comprehensive list of drill results completed on the Columba Property since 2019 can be viewed here: Columba Drill Results

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 Company inserts blanks, standards and duplicates at regular intervals as follows. On average a blank is inserted every 100 samples beginning at the start of sampling and again when leaving the mineral zone. Standards are inserted when entering the potential mineralized zone and in the middle of them, on average one in every 25 samples is a standard. Duplicates are taken in the mineralized zone, on average 1 to 2 duplicates for each hole.

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, Sonora, 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.

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 of Kootenay by James McDonald, P.Geo, President, CEO & Director for Kootenay, a Qualified Person.

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.

The information in this news release has been prepared as at February 27, 2023. 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 includes Mineral Reserves and Mineral Resources classification terms that comply with reporting standards in Canada and the Mineral Reserves and the Mineral Resources estimates are made in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ significantly from the requirements adopted by the U.S. Securities and Exchange Commission (the "SEC"). The SEC sets rules that are applicable to domestic United States reporting companies. Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

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SOURCE Kootenay Silver Inc.