VANCOUVER, BC, July 7, 2021 - Kootenay Silver Inc. (TSXV: KTN) (the "Company" or "Kootenay") is pleased to announce that Hans Smit, P.Geo. has agreed to join the Kootenay team as a technical advisor.
James McDonald, President and CEO, comments "the Company is very excited to welcome Hans as an advisor to the Kootenay team. Kootenay has been very successful in developing a large portfolio of silver assets in Mexico. We are working to update the mineral resource estimations and evaluate the potential economics of the two most advanced projects, La Cigarra and La Negra (Promontorio). Mr. Smit is well known for his experience and expertise in advancing projects from resource estimation through to feasibility and construction and we look forward to drawing on his expertise as we move these projects forward."
Mr. Smit is a Professional Geologist with over 35 years of experience in all aspects of the mineral industry. Career successes include being one of the founders of Orla Mining Ltd. and guiding the evaluation of the Camino Rojo oxide gold project in Zacatecas State, Mexico as Orla's former Chief Operating Officer (COO). After managing a positive feasibility study, permitting and the start of construction engineering and procurement for an open pit mine and heap leach facility at Comino Rojo, Mr. Smit retired as COO of Orla in December of 2019. The Camino Rojo project is currently in construction with production planned at the end of 2021.
Prior to Orla Mining, as Vice President Exploration for Grayd Resource Corporation ("Grayd"), Mr. Smit played a key role in advancing the La India heap-leach gold project in Mexico from a grassroots exploration discovery through mineral resource estimation and a positive Preliminary Economic Assessment. This resulted in Agnico Eagle Mines Ltd. acquiring Grayd for $275 million and bringing La India into production, using a mine and production plan based on the work Mr. Smit managed for Grayd.
Mr. Smit has worked on the evaluation of several other precious metal projects including Cerro Quema in Panama for Orla Mining and in Mexico for various Canadian companies. He guided exploration, feasibility, and permitting work on Canadian gold projects including the original studies at Dublin Gulch in the Yukon and Red Mountain in British Columbia. He also managed the feasibility, environmental assessment and permitting of the Swamp Point Aggregate Mine located on the coast of British Columbia.
The Company also announces stock purchase options have been granted under the Company's stock option plan to an employee and consultant to purchase up to an aggregate of 650,000 shares of Kootenay at a price of $0.265 per common share for a period of five years.
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 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.
For additional information, please contact:
James McDonald, CEO and President at 403-880-6016
or visit: www.kootenaysilver.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at July 6, 2021. 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 may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
This press release uses the terms "Measured", "Indicated", and "Inferred" resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable.
