Shares Outstanding: 62,808,850
VANCOUVER, Sept. 18, 2013 /PRNewswire/ - Kootenay Silver
Inc. (TSX VENTURE: KTN.V) is pleased to announce the resumption
of drilling on its flagship Promontorio Silver Project in
Sonora, Mexico. Two drill
rigs have been deployed and are currently operating on site. The
Company will conduct a minimum of 5,000 meters of drilling in the
current phase, as part of its ongoing, multi-phase, 2013 drill and
resource expansion program on Promontorio. Core drilling will
target a series of high-grade silver intercepts recently identified
within a new breccia zone of silver mineralization situated between
the Pit and NE Zones (See June 4,
2013 news release).
Current NI 43-101 Compliant Silver
Resource
The current mineral estimate on Promontorio
effective date March 31, 2013 (See
May 14, 2013 news release) was
conducted by SRK Consulting Inc. (U.S.) of Lakewood, Colorado and contains a combined
Measured and Indicated silver resource of 92,428,000 silver
equivalent ounces (39.9M oz's Ag, 508K oz's Au, 394.8M lb's Pb,
462.2M lb's Zn). In addition to the measured and indicated silver
resources, there are an additional 26,814,000 silver equivalent
ounces in the Inferred category (12.8M oz's Ag, 147 oz's Au,
99.5M lb's Pb, 109.1M lb's Zn). Measured and Indicated resources
are contained in open pit resources of 44,504,000 tonnes
grading an average of 64.32 gpt silver equivalent (27.77 gpt Ag,
0.35 gpt Au and 0.87% Pb+Zn) and resources outside of the open pit
of 215,000 tonnes grading an average of 56.96 gpt silver equivalent
(22.89 gpt Ag, 0.28 gpt Au and 0.95% Pb+Zn). Inferred resources are
within open pit resources of 14,564,000 tonnes grading an average
of 51.95 gpt silver equivalent (24.95 gpt Ag, 0.28 gpt Au and 0.59%
Pb+Zn) and resources outside of the open pit of 1,265,000 tonnes
grading an average of 61.17 gpt silver equivalent (26.57 gpt Ag,
0.37 gpt Au and 0.74% Pb+Zn).
QA/QC
Drilling will be HQ sized diamond drill core and
has been contracted to B.D Drilling Mexico, S.A. de C.V of
Guadalajara, Mexico. Further
Quality Assurance and Control procedures and details on assays
procedures and laboratories used are disclosed on the Kootenay
Silver Inc. website.
The foregoing geological disclosure has been
reviewed and verified by Kootenay's CEO, James McDonald, P.Geo (a qualified person for
the purpose of National Instrument 43-101, Standards of Disclosure
for Mineral Projects). Mr. McDonald is a director of Kootenay.
Subject to the approval of the TSX Venture
Exchange, Kootenay has issued an aggregate total of 1,968,000
incentive stock options, which are exercisable for a period of five
years at an exercise price of $0.66
to directors, officers and consultants of the company.
ABOUT KOOTENAY
Kootenay Silver Inc. is actively developing
mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Its flagship
property is the former producing Promontorio Silver mine in Sonora
State, Mexico. Kootenay's
objective is to develop near term discoveries and long-term
sustainable growth. Its management and technical team are proven
professionals with extensive international experience in all
aspects of mineral exploration, operations and venture capital
markets. Multiple, ongoing J/V partnerships in Mexico and Canada maximize potential for additional, new
discoveries while maintaining minimal share dilution.
Neither 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.
Forward-Looking Statements: The
information in this news release has been prepared as at
September 17, 2013. 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.
SOURCE Kootenay Silver Inc.