Mr. David Stein reports

KUYA SILVER CONFIRMS NEW MINERALIZED DISCOVERY ON HAMMERSTROM FAULT, FRONTIER NW ZONE, SILVER KINGS PROJECT, ONTARIO

Kuya Silver Corp. has released drilling results on the Silver Kings project from the Frontier NW area, Silver Centre, where drilling intersected at least two mineralized veins. The Hammerstrom fault, which was the target of at least eight previous drill holes, yielded historic anomalous to mid-grade (0.01 to 0.46 per cent) cobalt. Recent surface work by Kuya Silver in 2023 and 2024 (including trenching and ground geophysics) uncovered high-grade cobalt-nickel veins, associated with silver mineralization, and demonstrated the potential for additional mineralization along trend and at depth. This new discovery is located in the Silver Centre area of the project, approximately 20 kilometres south-southeast of Kuya Silver's Kerr Lake mill site, and represents a new area for potential silver-cobalt mineralization that greatly expands the scope for developing a silver-cobalt district beyond the original Kerr Lake project area.

Highlights:

• Hammerstrom fault vein:
  • Cobalt-nickel-silver vein in the Hammerstrom fault assayed 6.5 per cent cobalt, 1.3 per cent nickel and 29 grams per tonne silver (1,833 g/t silver equivalent) over 0.40 metre in hole 24-SK-07, within a wider mineralized zone of 863 g/t AgEq over 0.86 m:
    • This is the widest and highest-grade cobalt- and nickel-bearing vein drilled by Kuya Silver to date.
    • The company considers this to be a high-priority target that will be followed up in subsequent work.
  • This vein, which confirms the high-grade potential of the structure, was intersected at 190-metre vertical depth with mineralization likely traceable for at least 250 m along the moderately dipping structure.
  • At least four potentially high-grade, evenly spaced, narrow mineralized shoots are currently interpreted on the Hammerstrom fault, based on drilling to date.
• McIlwaine vein identified:
  • A second mineralized vein was intersected in drilling, located 180 m northeast of the Hammerstrom fault, and these two structures appear to converge at depth.
  • This vein is weakly mineralized in the current drill assays but was not tested in the favourable zone at depth.

David Lewis, vice-president, exploration, commented: "Our drilling has successfully demonstrated that the Hammerstrom fault zone hosts high-grade mineralization at depth, confirming our earlier trenching results. By Cobalt, Ont., standards, this Hammerstrom vein is relatively wide and is extremely rich in cobalt and nickel, and it's precisely these types of veins that have been known to grade into silver-bearing structures. We're very encouraged to see the 190-metre vertical depth of this drill intercept, as our current data suggests that mineralization here is continuous from surface with at least four mineralized shoots.

"We also intersected a second mineralized vein, which we've named the McIlwaine vein, near to surface and traceable through most of our drilling. The mineralization is weak near surface, but grades would be expected to increase at depth in the favourable zone near the buried Nipissing diabase contact. Like all major mines in the greater Cobalt mining camp, clusters of veins are our best target for economic silver-cobalt deposits."

Frontier NW target update

The Frontier NW zone, which is located approximately 400 m northwest of the past-producing Frontier mine site, hosts a 400-metre-long fault zone, which Kuya Silver named the Hammerstrom fault. Drilling by previous operators, including 11 100-metre-spaced drill holes by First Cobalt Corp. in 2018, targeted this structure, and some of these holes intersected anomalous to mid-grade mineralization (0.01 to 0.46 per cent cobalt) on the fault plane. In 2023, Kuya Silver trenched part of the zone, uncovering high-grade veins on surface with assays up to 23 g/t silver, 4.1 per cent cobalt and 1.1 per cent nickel over 1.74 m. In 2024, following the discovery of surface veining, all 11 First Cobalt drill holes were relogged to gain insight into the structure, and both the Hammerstrom fault and a second north-trending mineralized fault were recognized and modelled. A tightly spaced, ground induced polarization survey was commissioned to trace the Hammerstrom fault and identify additional mineralization. See the following Kuya Silver news releases for further details: June 24, 2024, and Aug. 27, 2024.

Drilling by Kuya Silver was attempting to target high-grade mineralized shoots, as mineralization, specifically in the Silver Centre mining camp, is historically known to be tightly focused. Two drill hole fans (24-SK-04 and 05; 24-SK-06 and 07) were set to test trenching and geophysical targets (see Aug. 27, 2024,m Kuya Silver news release). Mineralized veins in the Hammerstrom fault were intersected in drill holes 24-SK-04, 06 and 07. The 0.19-metre-wide vein in 24-SK-07 (0.13-metre true thickness) was intersected at a 240.60-metre depth grading 29 g/t silver, 6.53 per cent cobalt and 1.27 per cent nickel (1,833 g/t silver equivalent). These results are consistent with results encountered on surface in trenched outcrops, where veins graded up to 26 g/t silver, 7.71 per cent cobalt and 3.21 per cent nickel over 0.50 m (see June 24, 2024, Kuya Silver news release). Five additional holes were drilled to follow up on these intersections.

The high-grade mineralized vein in hole 24-SK-07 was intersected at a vertical depth of 190 m (250 m along the plane of the moderately northeast-dipping Hammerstrom fault plane) near the intersection of the northwest-trending Hammerstrom fault and a small north-trending fault. On surface, this intersection point is located near a zone of suspected mineralization (high-chargeability anomaly, induced polarization survey), suggesting that this intersection may be continuously mineralized to depth.

Other veins were also intersected in drilling, including one vein that was traceable between drill holes and the newly named the McIlwaine vein. This new McIlwaine vein likely corresponds with a small trench on surface. So far, the vein is weakly mineralized near surface, but it has significant potential at depth, near the buried Nipissing diabase contact.

Both the Hammerstrom and McIlwaine structures remain open along strike and at depth.

Geochemical modelling of the Hammerstrom and McIlwaine structures (like other veins in the project area) continues to demonstrate the zoned mineralogy of the veins. Several elements (and element ratios), including cobalt, arsenic, antimony and sulphur, are being used to determine and model the vein zonation. The change in geochemistry between drill holes is being used to delineate mineralized shoots and target high-grade silver mineralization.

Drilling progress

Three drill holes (24-SK-01 to 03) were initially drilled at the Mary Ann target with anomalous mineralized results only. The drill was then moved to the Frontier NW target, where nine holes were drilled (24-SK-04 to 12). To date, assays have been returned for holes 24-SK-04 to 09, with assays outstanding for holes 24-SK-10 to 12. The Airgiod target was drilled next, with six combined drill holes (24-SK-13 to 18; assays outstanding for all holes), and the drill is currently at the Campbell-Crawford area.

Quality assurance and quality control

The drill core samples were logged and sampled with limestone blank material and standard reference material added in sample sequence and/or following visual identification of silver or cobalt mineralization. The samples were cut perpendicular to veining by core saw and were secured in labelled vinyl sample bags. Samples were shipped to Agat Laboratories in Val d'Or, Que., where they were weighed, crushed and pulverized.

At Agat Labs (Calgary, Alta.), samples were digested by four acids and analyzed by ICP-OES (maximum undiluted detection limit of 500 grams per tonne silver).

National Instrument 43-101 disclosure

The technical content of this news release has been reviewed and approved by David Lewis, PGeo, vice-president, exploration, of Kuya Silver, and a qualified person as defined by National Instrument 43-101.

About Kuya Silver Corp.

Kuya Silver is a Canadian-based, growth-oriented mining company with a focus on silver. Kuya Silver operates the Bethania silver mine in Peru, while developing district-scale silver projects in mining-friendly jurisdictions including Peru and Canada.

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