Kootenay Silver (KTN) investor relations material

Capital and investor base

• 103M shares issued; market capitalization near CAD 100M; 90-day average trading volume ~500,000 shares. Cash was CAD 34M at end-June and just under CAD 30M at the conference.

• Key investors include Eric Sprott, Condire, Sprott Asset Management and GOLD 2000; management cited ~9,000 individual retail shareholders.

• Coeur Mining, Agnico Eagle and Pan American have invested at different times based on discoveries; management highlighted experience spanning exploration, feasibility, mine construction, operations and financing.

Portfolio and resources

• Four deposits in Mexico total 231M silver-equivalent oz in measured and indicated resources and 118M oz inferred; silver-only resources are 128M oz M&I and 89M oz inferred.

• La Cigarra has 60M oz M&I and 17M oz inferred silver; Columba's maiden resource is 54M oz at 284 g/t silver, with average vein widths of 5–6 m.

• Columba's veins remain open along strike and at depth; the current 60,000 m program was halfway complete, with resource growth and a resource update targeted.

• Promontorio and La Negra are lower-priority assets while work advances at La Cigarra and Columba.

La Cigarra economics and development

• Recent PEA: after-tax NPV of $763M and 41% IRR; at the then-spot silver price of $67/oz, NPV was nearly $1.3B and IRR 64%.

• PEA assumptions included a $50/oz consensus silver price, 14-year mine life, $332M initial capital, $80M sustaining capital and 1.9-year after-tax payback; 94% of revenue was from silver.

• First-five-year production is projected above 6M oz/year; life-of-mine average is 4.5M oz/year, with estimated annual after-tax revenue of $107M and silver AISC just under $19/oz.

• A ~10,000 m program is planned at the gap zone before year-end, targeting potential addition of 10M–20M oz; results and a resource update were targeted by end-Q1 next year.

• Geotechnical and metallurgical studies are planned ahead of pre-feasibility; a PEA update may come first. Management also plans work on water supply and other project risks.