Kuya Silver Expands Mineralized Vein Zone in Phase 2 Drilling at

• Newly-defined Toms Vein assays 2,180 g/t silver and 0.36% cobalt over 0.40 m within wider zone assaying 199 g/t silver over 7.00 m
• Six drill holes from Campbell-Crawford and Airgiod target areas are pending and visible silver and/or cobalt mineralization was observed in all remaining drill holes

Toronto, Ontario–(Newsfile Corp. – January 11, 2024) – Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the “Company” or “Kuya Silver“) is pleased to present the first assay results from a diamond drilling program at the grassroots Campbell-Crawford target area, at its wholly-owned Silver Kings Project, where drilling in March 2023 intersected high-grade silver in a new grassroots vein structure. Results from holes 23-SK-14 to -26 are presented; in total, 18 oriented NQ drill holes were completed (23-SK-14 to -31) for a combined total of 5,834 m in this program. With additional diamond drilling performed in this target area, Kuya Silver is identifying a cluster of mineralized veins in proximity to the Angus Vein discovery, often in intersecting orientations, which is similar and comparable to other major historical mines in the Cobalt camp.

Highlights:

• Diamond drilling was focused on defining the geometry and grade of mineralized structures in the Campbell-Crawford area, following up on the March 2023 grassroots Angus Vein drill intercept of 15,372 g/t silver over 3.34 m
• Six major, variably-mineralized and traceable veins were intersected in drilling, plus secondary veins, with dominantly E-W, NW-SE and NNE-SSW trends
  • Up to seven mineralized veins intersected per drill hole
  • Veins commonly bend and pinch and swell along trend, and high-grade mineralization is commonly localized in these bends and at (or near) vein intersections
  • Drilling tested a relatively restricted subsurface area of approximately 1.7 ha (130 x 130 square meters) within the ideal mineralized horizon at depth. The total size of the Campbell-Crawford and Airgiod properties is 41.8 ha
• Results from the newly-recognized Toms Vein include 2,180 g/t (70 oz/t) silver, 0.36% cobalt (2,315 g/t AgEq*) over 0.40 m in hole 23-SK-26 within a wider mineralized zone assaying 199 g/t (6.4 oz/t) silver, 0.02% cobalt (208 g/t AgEq*) over 7.00 m
• Original Angus Vein silver intersection from hole 23-SK-08 (15,372 g/t silver over 3.34 m) traced 70 m deeper with cobalt-rich intercept in hole 23-SK-20 from 314.79 m, with 8.70 g/t silver, 0.26% cobalt over 2.41 m (108 g/t AgEq*; from 314.79 m), including 24 g/t silver, 0.85% cobalt over 0.45 m (342.43 g/t AgEq*)
• Six drill holes from Campbell-Crawford and Airgiod target areas are pending
  • Visible silver and/or cobalt mineralization observed in all remaining drill holes

David Lewis, Vice President Exploration, commented: “When we first drilled the Angus Vein in March, 2023, there was no doubt about the buried potential for new economic deposits at the Campbell-Crawford property. We have now begun defining at least six E-W and NW-SE trending mineralized veins, plus smaller secondary veins, within a very tight area, and hints of other major veins have also been drilled. We are observing higher-grade silver and cobalt mineralization focused near flexed vein intersections, defining steep, cigar shaped mineralized shoots, and there is potential at each of these major vein intersections for additional mineralized shoots. The remaining six drill holes were designed to follow up on the main Angus Vein intersection but also include one hole testing the Airgiod property at depth and all intersected visible silver and/or cobalt mineralization. Both the Campbell-Crawford and Airgiod areas remain extremely promising and high-priority exploration targets for Kuya Silver.”

Table 1: Significant silver and cobalt mineralization intersected in the Phase 2 2023 drill program at the Campbell-Crawford target area. Results from the first twelve drill holes (23-SK-14 to -26) are presented, with the remaining six pending. AgEq* (silver…