Kuya Silver Discovers New Gold-Bearing Vein at Bethania Silver Project

• The Carmen Vein, a new discovery with up to 6.26 g/t gold reported from a new structure sampled over 300 m to date.
o The gold-bearing mineralization differs from the traditionally-mined silver and base metal veins at Bethania.
o Anomalous gold values can be traced for approximately 800 m along strike to the northeast.
• Samples taken from trending sub-parallel vein to the 12 de Mayo Vein returned up to 2,076 g/t silver.
• Previously mapped Mercedes Vein in Hilltop Zone returns up to 188 g/t silver and 2.33 g/t gold from channel samples taken over 300 m along strike.

Gold-bearing Carmen Vein

Eighty-five channel samples have been collected along a newly identified vein, named the Carmen Vein (“CV”), on the southern side of the Bethania mine area (Figure 1, 2), as well as twenty-six samples collected along a sub-parallel branching structure identified as the Carmen Vein Branch (“CVB”), both dipping to the north (parallel to the Victoria Vein). A NE-SW strike length of approximately 300 m was sampled in the program, however a similar gold-dominated vein has been identified in the Hilltop Zone approximately 800 m to the east. Both the CV and CVB are unusual for the Project in that these samples can contain anomalous silver (up to 343 g/t) but are consistently mineralized with gold and suggest a second type of mineralization, previously unrecognized at the Project. In the 111 samples taken between the CV and CVB, the gold values assayed up to 6.26 g/t with only one sample assaying less than 0.1 g/t (0.093 g/t). Base metals can be locally anomalous, but overall grades are much lower than the other veins at the Project.

Bethania Mine Area

The highest silver grade in any sample taken in the recent program comes from what is believed to be a branching structure trending sub-parallel to the 12 de Mayo Vein. Only the first 30 metres of this structure have been sampled to date but it remains open to the east. Samples from this structure included: 2,076 g/t silver, 1.66 g/t gold, 0.53% copper, 14.3% lead, 1.03% zinc, 1,878 g/t silver, 1.01 g/t gold, 0.33% copper, 14.5% lead, and 0.25% zinc. This structure is believed to be a newly identified zone that is not currently part of the mineral resource estimate (see Press Release, January 6, 2022), however more work on this area must be done to confirm its significance. Another branching structure from the 12 de Mayo Vein further to the east also reported very positive surface sampling results, with up to 1,319 g/t silver and several samples over 1,000 g/t silver and up to 2.67 g/t gold.

Mercedes Vein

Eighteen channel samples have been taken to date along the Mercedes Vein across a NW-SE strike length of approximately 300 metres in the Hilltop Zone area of the Bethania Project (Figure 1, 2). Although little was previously known about the Mercedes Vein, it was identified through prospecting near the Española 2 adit prior to Kuya Silver’s involvement in the Project. One of the drill holes in Kuya Silver’s Phase 1 (2021) diamond drill hole is believed to have intersected the Mercedes Vein at depth (see Press Release, July 26, 2021) intersecting 3.5 m of 62.3 g/t silver including 0.55 m of 251.0 g/t silver at a drill depth of 54.2 m (unknown true width). At surface, the Mercedes Vein appears to be a traditional Bethania-style vein with silver, gold and lead mineralization observed. Some of the best samples were taken right at the northern boundary of the mining concession, including 179 g/t silver, 1.26 g/t gold and 0.87% lead. Now that Kuya Silver has acquired the mineral claim immediately to the north of Bethania it can continue to explore the Mercedes Vein and other veins in the Hilltop Zone further to the north. Other samples taken from the Mercedes Vein reported up to 188 g/t silver with 1.99% lead at the southern end of our sampling program to date, and another sample reported 2.33 g/t gold (Figure 1).

David Stein, President and CEO of Kuya Silver stated, “With numerous mineralized veins and structures right at surface, mapping and sampling the vein systems keeps providing us with more and more exciting targets. In the past, rudimentary exploration of the Bethania veins through underground tunnelling gave us a great starting point, our surface sampling program combined with drilling is revealing a bigger and more complex vein system with significant growth potential. On top of that, now that we have a district-scale land package under our control, we can repeat our exploration process on several other high-priority targets nearby.”

Quality Assurance / Quality Control

A total of 418 samples have been collected, including some that have been reported previously. The coordinates of the locations of each sample were recorded, and the samples dispatched to the SGS laboratory in Lima for geochemical analysis. Industry-standard Quality Assurance / Quality Control (QA / QC) blanks, standards and duplicates were added in a set order. The analyses were carried out using the following methods: FA313 – Fire Assay for gold, ICP40B – ICP-AES Multi-acid digestion for 36 elements, and AAS41B – Atomic Absorption, multi-acid digestion for Ag, Pb, Zn over detection limit. SGS Laboratories in Lima has international certifications OHSAS 18001, ISO 14001 and ISO 9001 and is accredited by INACAL under the NTP-ISO / IEC 17025.

National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Mr. David Lewis, P.Geo., Exploration Director of Kuya Silver and a Qualified Person as defined by National Instrument 43-101.

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.

For more information, please contact the Company at:

Kuya Silver Corporation

www.kuyasilver.com

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