Vancouver, British Columbia--(Newsfile Corp. - December 9, 2022) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") is pleased to announce a non-brokered private placement, comprising a flow-through offering (the "FT Offering") and a non-flow-through offering (the "Non-FT Offering"), for aggregate gross proceeds of up to CAD$2,000,000 (collectively, the "Offering").

Under the FT Offering, the Company will issue flow-through units (each, an "FT Unit") at a price of CAD$0.50 per FT Unit. Each FT Unit is comprised of one (1) common share in the capital of the Company that qualifies as a "flow-through share" for the purposes of the Income Tax Act (Canada) (each, an "FT Common Share") and one half of one (1/2) non-transferable common share purchase warrant (each whole warrant, an "FT Offering Warrant"). Each FT Offering Warrant entitles the holder to purchase one (1) non-flow-through common share in the capital of the Company (each a "Common Share") at price of CAD$0.70 per Common Share for a period of 36 months from the date of issuance.

The gross proceeds from the FT Offering will be used for expenditures that qualify as Canadian Exploration Expenses, within the meaning of the Income Tax Act (Canada), to carry out exploration programs on the Company's Canadian properties.

Under the Non-FT Offering, the Company will issue units (each, a "Unit") at a price of CAD$0.43 per Unit. Each Unit is comprised of one (1) Common Share and one (1) non-transferable Common Share purchase warrant (each, a "Non-FT Offering Warrant"). Each Non-FT Offering Warrant entitles the holder to purchase one (1) Common Share at a price of CAD$0.70 per Common Share for a period of 36 months from the date of issuance.

The Company intends to use the net proceeds from the Non-FT Offering for general working capital purposes.

In connection with the Offering, the Company may pay finder's fees to qualified non-related parties, in accordance with the policies of the Canadian Securities Exchange (the "Exchange").

All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring 4 months and 1 day after issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws, except for those issued to investors in foreign jurisdictions participating in the Non-FT Offering.

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:

David Stein, President and Chief Executive Officer
Telephone: (604) 398‐4493
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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," "propose," and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Without limiting the generality of the foregoing statements, the proposed use of the proceeds of the Offering is 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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