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Kootenay Announces Promontorio Drilling Hits 47 Meters of 62 gpt Silver Eqv Including 17 Meters of 94 gpt Silver Eqv (47 Meters

 Kootenay Announces Promontorio Drilling Hits 47 Meters of 62 gpt Silver Eqv
Including 17 Meters of 94 gpt Silver Eqv (47 Meters grading 31 gpt Silver and
      1.32% Pb+Zn) and (17 Meters Grading 48 gpt Silver and 2.0% Pb+Zn)

  PR Newswire

  VANCOUVER, January 30, 2013

VANCOUVER, January 30, 2013 /PRNewswire/ --

Shares Outstanding: 56,488,850

Kootenay Silver Inc. (TSX VENTURE: KTN.V) is pleased to announce results from
the first 8 holes of its 30,000 meter, multi-phase drill and resource
expansion program on its flagship Promontorio Silver Project in Sonora,
Mexico. All 8 holes were step out holes outside of the resource boundaries at
intervals of 50 to 100 meters.

Drilling Highlights:

DH 121-12

  *62 gpt silver Eqv over 47 meters including 94 gpt silver Eqv over 17
    meters (47 meters grading 31 gpt Ag and 1.32% Pb+Zn including 17 meters
    grading 48 gpt Ag and 2.0 % Pb+Zn)

DH 124-12

  *152 gpt silver Eqv over 5 meters (grading 89 gpt Ag and 2.74% Pb+Zn), 80
    gpt silver Eqv over 6 meters (36 gpt Ag and 1.89% Pb+Zn), 129 gpt Ag Eqv
    over 3 meters (74 gpt Ag and 2.4% Pb+Zn) within 20 meters of 36 gpt silver
    Eqv (19 gpt Ag and 0.73% Pb+Zn)

DH 125-12

  *119 gpt silver Eqv over 6 meters (106 gpt Ag and 0.59% Pb+Zn), 94 gpt
    silver Eqv over 14 meters including 199 gpt silver Eqv over 3 meters (129
    gpt Ag and 3.06% Pb+Zn)

States Kootenay CEO James McDonald "We are very pleased with results from
step-out drilling. Mineralization in the Northeast Zone is widespread and
continues to remain open to the north, northeast, east and south. DH 125 and
122 indicate potential to the north may be better than previously known. Wide
intervals of altered diatreme facies (units) with mineralized intervals
encountered over drilled lengths to 380 meters again confirm the system is
very large and robust."

Table of the full results follows:

                                               *AgEq
     Hole ID  Target   From    To   Interval (Ag,Pb,Zn)  Ag    Pb   Zn  Pb+Zn
                       (m)    (m)     (m)      (gpt)    (gpt) (%)  (%)   (%)
    DH-121-12 NE Zone 149.00 169.00    20        33      19   0.28 0.33 0.62
    including NE Zone 154.00 155.00    1        176      111  1.52 1.28 2.80
    DH-121-12 NE Zone 182.00 187.00    5         33      19   0.28 0.35 0.62
    DH-121-12 NE Zone 249.00 253.00    4         71      43   0.47 0.74 1.21
    DH-121-12 NE Zone 324.00 327.00    3         92      84   0.05 0.29 0.34
    DH-121-12 NE Zone 484.00 531.00    47        62      31   0.67 0.66 1.32
    including NE Zone 504.00 521.00    17        94      48   1.02 0.98 2.00
    DH-122-12 NE Zone 132.00 136.00    4         38      19   0.75 0.04 0.78
    DH-122-12 NE Zone 264.00 270.00    6         59      33   0.53 0.59 1.12
    DH-123-12 NE Zone 268.00 273.00    5         35      27   0.29 0.03 0.32
    DH-123-12 NE Zone 316.00 322.00    6         85      34   1.34 0.82 2.16
    DH-124-12 NE Zone 318.00 323.00    5        152      89   1.29 1.45 2.74
    DH-124-12 NE Zone 338.00 342.00    4         47      25   0.35 0.61 0.97
    DH-124-12 NE Zone 348.00 376.00    28        38      18   0.43 0.46 0.89
    including NE Zone 357.00 363.00    6         80      36   1.00 0.88 1.89
    DH-124-12 NE Zone 385.00 405.00    20        36      19   0.40 0.34 0.73
    including NE Zone 387.00 390.00    3        129      74   1.39 1.00 2.40
    DH-125-12 NE Zone 131.00 137.00    6        119      106  0.32 0.27 0.59
    DH-125-12 NE Zone 324.00 327.00    3         59      44   0.36 0.27 0.63
    DH-125-12 NE Zone 342.00 351.00    9         50      31   0.48 0.35 0.83
    DH-125-12 NE Zone 376.00 390.00    14        94      59   0.74 0.76 1.50
    including NE Zone 380.00 383.00    3        199      129  1.58 1.47 3.06
    DH-126-12 NE Zone 89.00  90.00     1        525      491  0.69 0.79 1.48
    Holes DH 127 and 128 had no significant results

    *Assuming 100% Metallurgical Recovery
    *Prices used in Silver Equivalent (AgEq) Calculations:
    Ag dollars/oz                  $28.90
    Pb dollars/lb                   $1.00
    Zn dollars/lb                   $0.95

Three drills are currently operating in areas to the west and southwest of the
Pit Resource focused on expansion of resources. To view map of drill results
visit:  http://www.kootenaysilver.com/s/DrillResults.asp

Further drilling is planned for the Northeast Zone to define the geometry and
size of mineralization.

Multi-phase drilling is now focused on the Dorotea area and southwest of the
Pit Zone. The current 30,000 meter drill program, which is the largest drill
campaign conducted on Promontorio to date, is designed to substantially
increase the overall size of Promontorio's contained silver resource and to
expedite the path to a production decision.

Current NI 43-101 Compliant Silver Resource The most recent updated NI 43-101
mineral estimate on Promontorio (See Kootenay News Release-August 21, 2012)
contains a combined Measured and Indicated silver resource of 61,679,000
silver equivalent ounces (37.5M oz's Silver, 372M lb's Lead, 436.9M lb's
Zinc). In addition to the measured and indicated silver resources, there are
an additional 14,469,000 silver equivalent ounces in the Inferred category
(9.6M oz's Silver, 77.6M lb's Lead, 85.3M lb's Zinc). (Measured and Indicated
resources are contained in open pit resources of 36,018,000 tonnes grading an
average of 51.35 gpt silver equivalent (31.18 gpt Ag and 0.98% Pb+Zn) and
underground resources of 2,216,000 tonnes grading an average of 48.75 gpt
silver equivalent (30.15 gpt Ag and 0.98% Pb+Zn). Inferred resources are
within open pit resources of 9,136,000 tonnes grading an average of 42.86 gpt
silver equivalent (28.32 gpt Ag and 0.17% Pb+Zn) and underground resources of
3,077,000 tonnes grading an average of 53.90 gpt silver equivalent (35.94 gpt
Ag and 0.88% Pb+Zn).

The foregoing geological disclosure has also been reviewed and verified by
Kootenay's CEO, James McDonald, P.Geo (a qualified person for the purpose of
National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr.
McDonald is a director of Kootenay.

ABOUT KOOTENAY Kootenay Silver Inc. is actively developing mineral projects in
the Sierra Madre Region of Mexico and in British Columbia, Canada. Its
flagship property is the former producing Promontorio Silver mine in Sonora
State, Mexico. Kootenay's objective is to develop near term discoveries and
long-term sustainable growth. Its management and technical team are proven
professionals with extensive international experience in all aspects of
mineral exploration, operations and venture capital markets. Multiple, ongoing
J/V partnerships in Mexico and Canada maximize potential for additional, new
discoveries while maintaining minimal share dilution.

The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or the accuracy of this release.  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. 

For further information:

James McDonald, CEO and President at +1-403-238-6986 Ken  Berry , Chairman
at +1-604-601-5652; +1-888-601-5650 or visit : http://www.kootenaysilver.com
 
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