VANCOUVER, BC, July 7, 2021 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce that Hans Smit, P.Geo. has
agreed to join the Kootenay team as a technical advisor.
James McDonald, President and
CEO, comments "the Company is very excited to welcome Hans
as an advisor to the Kootenay team. Kootenay has been very
successful in developing a large portfolio of silver assets in
Mexico. We are working to update the mineral resource
estimations and evaluate the potential economics of the two most
advanced projects, La Cigarra and La Negra
(Promontorio). Mr. Smit is well known for his
experience and expertise in advancing projects from resource
estimation through to feasibility and construction and we look
forward to drawing on his expertise as we move these projects
Mr. Smit is a Professional Geologist with over 35 years of
experience in all aspects of the mineral industry. Career successes
include being one of the founders of Orla Mining Ltd. and guiding
the evaluation of the Camino Rojo oxide gold project in Zacatecas
State, Mexico as Orla's former
Chief Operating Officer (COO). After managing a positive
feasibility study, permitting and the start of construction
engineering and procurement for an open pit mine and heap leach
facility at Comino Rojo, Mr. Smit retired as COO of Orla in
December of 2019. The Camino Rojo project is currently in
construction with production planned at the end of 2021.
Prior to Orla Mining, as Vice President Exploration for Grayd
Resource Corporation ("Grayd"), Mr. Smit played a key role in
advancing the La India heap-leach gold project in Mexico from a grassroots exploration discovery
through mineral resource estimation and a positive Preliminary
Economic Assessment. This resulted in Agnico Eagle Mines Ltd.
acquiring Grayd for $275 million and
bringing La India into production, using a mine and production plan
based on the work Mr. Smit managed for Grayd.
Mr. Smit has worked on the evaluation of several other precious
metal projects including Cerro Quema
in Panama for Orla Mining and in
Mexico for various Canadian
companies. He guided exploration, feasibility, and permitting work
on Canadian gold projects including the original studies at Dublin
Gulch in the Yukon and Red
Mountain in British Columbia. He
also managed the feasibility, environmental assessment and
permitting of the Swamp Point Aggregate Mine located on the coast
of British Columbia.
The Company also announces stock purchase options have been
granted under the Company's stock option plan to an employee and
consultant to purchase up to an aggregate of 650,000 shares of
Kootenay at a price of $0.265 per
common share for a period of five years.
About Kootenay Silver Inc.
Kootenay Silver Inc. is an exploration company actively
engaged in the discovery and development of mineral projects in the
Sierra Madre Region of Mexico and
in British Columbia, Canada.
Supported by one of the largest junior portfolios of silver assets
in Mexico, Kootenay continues to
provide its shareholders with significant leverage to silver
prices. The Company remains focused on the expansion of its current
silver resources, new discoveries and the near-term economic
development of its priority silver projects located in prolific
mining districts in Sonora, State
and Chihuahua, State, Mexico,
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
The information in this news release has been prepared as at
July 6, 2021. Certain statements in
this news release, referred to herein as "forward-looking
statements", constitute "forward-looking statements" under the
provisions of Canadian provincial securities laws. These statements
can be identified by the use of words such as "expected", "may",
"will" or similar terms.
Forward-looking statements are necessarily based upon a
number of factors and assumptions that, while considered reasonable
by Kootenay as of the date of such statements, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Many factors, known and
unknown, could cause actual results to be materially different from
those expressed or implied by such forward-looking
statements. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date made. Except as otherwise required by law, Kootenay
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any such statements to reflect
any change in Kootenay's expectations or any change in events,
conditions or circumstances on which any such statement is
Cautionary Note to US Investors: This news
release may contain information about adjacent properties on which
we have no right to explore or mine. We advise U.S. investors that
the SEC's mining guidelines strictly prohibit information of this
type in documents filed with the SEC. U.S. investors are cautioned
that mineral deposits on adjacent properties are not indicative of
mineral deposits on our properties. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
This press release uses the terms "Measured", "Indicated",
and "Inferred" resources. United
States investors are advised that while such terms are
recognized and required by Canadian regulations, the United States
Securities and Exchange Commission does not recognize them.
"Inferred Mineral Resources" have a great amount of uncertainty as
to their existence, and as to their economic and legal feasibility.
It cannot be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of Inferred Mineral Resources may not form the
basis of feasibility or other economic studies. United States investors are cautioned not to
assume that all or any part of Measured or Indicated Mineral
Resources will ever be converted into Mineral Reserves.
United States investors are also
cautioned not to assume that all or any part of a Mineral Resource
is economically or legally mineable.
View original content to download
SOURCE Kootenay Silver Inc.