Vancouver, British Columbia--(Newsfile Corp. - March 16, 2022) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") is pleased to announce new discoveries at Bethania Silver Project (the "Project") made through its ongoing surficial trenching and channel sampling program. This is the second set of results from this work program (reporting on the remaining 100 / 405 samples; see January 26, 2022 news release) and the Company expects to continue this kind of sampling program throughout 2022.

High-grade channel sampling results:

  • Surficial mineralized vein clusters sampled returning individual metal values up to 1,016 g/t (32.7 oz/t) silver and 12.15 g/t gold, with associated copper (up to 0.35%), lead (up to 4.5%) and zinc base metals. These vein clusters correspond with surficial high-grade shoots defined in the initial mineral resource estimate for the Project
  • Newly-identified branch mineralization near the Española Vein returning 1,141 g/t silver (36.7 oz/t), 8.2% Pb and 4.8% Zn (1,635 g/t or 52.6 oz/t silver equivalent*)
  • New sampling from Española 2 and Samantha veins in nearby Hilltop Zone returning up to 845 g/t (27.2 oz/t) silver, up to 0.78 g/t gold, and up to 19.7% lead over 210 m strike length

*Silver equivalency (AgEq) metal values are shown in Data Verification section

Surface sampling (e.g. trenching, channel sampling, and rock chip sampling of outcrops) remains an important part of ongoing exploration, with a plan to sample continuously for at least the next year, accessing different sites over the Project.

David Lewis, Exploration Director, commented: "Our progress at Bethania is continuing to build. Our earlier channel sampling results showed the presence of a larger system of veins, including both gold- and silver-rich veins. Now, we are seeing new mineralized vein clusters, at surface, with precious metal grades up to 1,141 g/t or 36.7 oz/t silver and 12.15 g/t gold, plus base metal grades up to 0.4% copper, 19.7% lead and 4.8% zinc. The veins, which are the main host to mineralization, are typically surrounded by lower-grade mineralization, which may also be significant. Our earlier drill campaign, which was largely targeting veins beneath mine workings, does not appear to have intersected some of these veins, leaving us room for further development on our Santa Elena Concession."

David Stein, Kuya's President and CEO, remarked: "Already building on our initial mineral resource estimate, the Project continues to provide more and more attractive targets for silver vein exploration at depth. The success of this recent surface sampling, combined with our consolidation of exploration properties surrounding and otherwise close to the Bethania mine, is demonstrating the district-scale of silver polymetallic mineralization for the Project."

Two thirds of the 100 channel samples returned were from the Main Zone (i.e. Bethania mine area) at the Project, with the remainder from the nearby Hilltop Zone. Sampled veins range in width from 5 to >50 cm. High-grade samples from the complete 405 sample program is shown in Table 1.

EastingNorthingElevationVeinChannel Length (cm) Au (g/t)Ag (oz/t)Ag (g/t)Cu (%)Pb (%)Zn (%) AqEq (g/t)*
Main Zone
4428378602870482512 de Mayo32.6742.411,3191.00>100.111,939
4426928602851481312 de Mayo51.6666.742,0760.53>101.002,602
4427038602853481412 de Mayo101.6045.621,4190.39>101.001,923
4427838602871481912 de Mayo51.4160.571,8840.17>101.002,345
4426968602853480712 de Mayo71.0160.381,8780.33>100.252,293
4427978602877482312 de Mayo150.8541.571,2930.06>100.531,675
4428288602875483212 de Mayo80.5839.711,2350.07>100.171,580
4428118602875482912 de Mayo120.5037.551,1680.10>100.461,524
4428038602874482812 de Mayo50.2439.421,2260.25>100.731,594
4428648602874484112 de Mayo22.0719.426040.03>100.061,056
4428128602882482812 de Mayo103.1227.658600.254.080.231,261
44272086029274798Betsaida104.0524.607650.084.110.811,245
44266986027754818Carmen102.061.04330.020.250.22213
44263986027654810Carmen306.260.2370.110.060.09515
44263986027654810Carmen54.380.1650.110.040.06364
44253686027254763Carmen72.294.151290.010.030.01310
44271786029544705Carolina54.5632.671,0160.354.500.331,559
44269986029434789Carolina45.2612.603920.041.520.08854
44242786029184714No. 2260.2436.681,1410.138.224.811,635
44273986028224817unnamed103.210.71220.020.020.07279
44268986028544805Victoria103.963.701150.051.660.22487
44253586027484482Victoria502.727.722400.030.160.19470
44269486028284808Victoria512.150.2270.050.050.01964
Hilltop Zone
44328686030754835Española 2150.0927.178450.104.620.08999
44319686031094872Española 2100.3522.997150.034.990.18896
44309486031594855Española 2400.1221.196590.017.670.22897
44325086030684859No. 2450.7833.851,0530.0719.700.021,682
44325786030704850No. 2450.2329.489170.0210.840.031,246

 

*Silver equivalency (AgEq) metal values are shown in Data Verification section

Table 1: Significant channel sample assay results with mineralization cut to >1,000 g/t Ag and >2 g/t Au (cut to >500 g/t Ag in Hilltop Zone). A total of 25 analyses are >500 g/t Ag, 24 analyses are > 1.0 g/t Au, and 29 analyses are >5.0% Pb out of a total of 405 samples. Discussed sample analyses are highlighted in bold text. Coordinates are in UTM WGS84 Zone 18S.

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Figure 1: Silver channel sample results from ongoing surficial sampling at the Main Zone and Hilltop Zone of the Bethania Silver Project, Peru. New significant sample results are shown in grey boxes, whereas samples announced previously (January 26, 2022 news release) are shown in black boxes. Newly-uncovered vein clusters are circled in black.

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Figure 2: Gold channel sample results from ongoing surficial sampling at the Main Zone and Hilltop Zone of the Bethania Silver Project, Peru. New significant sample results are shown in grey boxes, whereas samples announced previously (January 26, 2022 news release) are shown in black boxes. Newly-uncovered vein clusters are circled in black.

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Main Zone - Vein Clusters

Trenching along known veins has uncovered clusters of high-grade veins, especially near the intersection of the Carolina and Betsaida veins and the 12 de Mayo and Victoria veins, both located near the Bethania mine (Figure 1, 2). These clusters occur at the surface projection of high-grade mineralized shoots in the 3D vein model / mineral resource estimate (January 6, 2022 news release) and suggest a wider zone of mineralization surrounding these intersections that may project to depth.

Grades at these vein clusters range up to:

  • Carolina Vein
    • 1,016 g/t (32.7 oz/t) Ag, 4.56 g/t Au, 0.4% Cu, 4.5% Pb (1,559 g/t or 50.1 oz/t AgEq*)
    • 392 g/t (12.6 oz/t) Ag, 5.26 g/t Au, 1.5% Pb (854 g/t or 27.5 oz/t AgEq*)
  • Betsaida Vein
    • 765 g/t (24.6 oz/t) Ag, 4.05 g/t Au, 4.1% Pb (1,245 g/t or 40.0 oz/t AgEq*)
  • Victoria Vein
    • 12.15 g/t Au (964 g/t or 31.0 oz/t AgEq*)
    • 115 g/t (3.7 oz/t) Ag, 3.96 g/t Au, 1.7 % Pb (487 g/t or 15.7 oz/t AgEq*)
    • 240 g/t (7.7 oz/t) Ag, 2.72 g/t Au (470 g/t or 15.1 oz/t AgEq*)

These samples were taken from narrow (5-50 cm) veins identified at surface and proximal to other veins, often within a wider anomalously-mineralized zone. The vein clusters are occurring primarily at the intersections of WSW-ENE and W-E trending veins, with newly-uncovered veins, including the No. 7, No. 20 and No. 9 veins, generally mimicking these two orientations. These clustered veins are relatively tightly spaced, with some subparallel veins being separated by only 5 meters.

Main Zone - West Española Vein

Newly-identified branches of the Española Vein (No. 21 and 22 veins) are located immediately north of the Bethania mine workings. Narrow veins (5-10 cm) were sampled and returned 1,141 g/t Ag (36.7 oz/t), 8.2% Pb and 4.8% Zn (1,635 g/t or 52.6 oz/t AgEq*) from the No. 22 Vein and 664 g/t (21.3 oz/t) Ag, 4.0% Pb and 0.49% Zn (832 g/t or 26.8 oz/t AgEq*) from the No. 21 Vein, both sampled within a 5 meter radius. Both veins strike NE (sub-parallel to the Española Vein) but the No. 21 Vein dips moderately (60°) south whereas the No. 22 Vein dips steeply north. In the 2021 drill program, the No. 21 Vein was likely intersected in hole BDH-15, which returned 580 g/t Ag, 0.87% Cu, 3.88% Pb and 3.2% Zn over 0.45 m (64.55 - 65.00 m), suggesting that the vein could potentially be extended for >130 m along strike. Other drillholes appear to be too shallow to have intersected either of these veins (Figure 3).

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Figure 3: Map showing the distribution of known veins at the Bethania Silver Project, Peru, compared to drill traces from the 2021 drill program. This drill program was used in the initial mineral resource estimate (see January 6, 2022 news release) with significant potential for expansion.

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Hilltop Zone - Española 2 Vein and Samantha Vein

Previous work in the Hilltop Zone, which is located 600 m along trend from the Main Zone at the Project, focused primarily on the Santa Elena and Mercedes veins, whereas this sampling was done primarily on the Española 2 and Samantha veins.

The Española 2 Vein was sampled in six locations along a 210 m strike length. Three vein samples returned high-grade silver (>500 g/t), including:

  • 845 g/t (27.2 oz/t) Ag and 4.6% Pb (999 g/t or 32.1 oz/t AgEq*)
  • 715 g/t (23.0 oz/t) Ag, 0.4 g/t Au, 5.0% Pb, 0.2% Zn (896 g/t or 28.8 oz/t AgEq*)
  • 659 g/t (21.2 oz/t) Ag, 7.7% Pb, 0.2% Zn (897 g/t or 28.9 oz/t AgEq*)

Samples of the surrounding host rock (0.30 m on both sides of the veins) show anomalous haloed silver, averaging 45 g/t, and lead, averaging 0.26%.

The Samantha Vein and nearby, branching No. 24 Vein, returned similar results to the Española 2 Vein. Four sites were sampled, with two high-grade silver samples (>500 g/t) up to 1,053 g/t and two high-grade lead samples (> 10%) up to 19.7% returned from vein material. Low grade mineralized haloes in the host rock (0.30 m on both sides of the veins) returned averages of 29 g/t Ag and 0.38% Pb.

Data Verification

A total of 405 samples were collected, of which 100 are being reported here. The coordinates of the locations of each sample were recorded by handheld GPS, and the samples dispatched to the SGS laboratory in Lima, Peru 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.

Metal prices for silver equivalency were captured on March 14, 2022 (silver $25.05 USD/troy oz; gold $1956.20 USD/troy oz; copper $4.4935 USD/lb; lead $1.0352 USD/lb; zinc $1.7206 USD/lb) and does not factor metal recovery.

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
Telephone: (604) 398‐4493
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www.kuyasilver.com

Reader Advisory

This news release contains statements that constitute "forward-looking information," including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "must," "next," "potential," "progress," and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those described in the forward-looking information as a result of various factors, including but not limited to fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing, and general economic, market and business conditions. There can be no assurances that such forward-looking information will prove accurate, and therefore, readers are advised to rely on their own evaluation of the risks and uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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