Kuya Silver Announces First Production from Bethania Silver Project

May 21, 2024 8:00 AM EDT | Source: Kuya Silver Corporation

Toronto, Ontario--(Newsfile Corp. - May 21, 2024) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya Silver") is pleased to announce the commencement of production from the Bethania silver mine.

Mineralized material is being recovered from the Española vein system at the 640 level, hauled to surface using the pre-existing decline and a winch on surface. Over the past few months, the Company has focused on reconditioning of the western portion of the mine to allow for safe production from this initial stope. In the coming months, reconditioning of other areas will continue at the 640 and 670 levels, and production access for the 12 de Mayo and Victoria vein systems are to be developed. Production is expected to ramp up progressively over the next year to an initial target of 350 tons per day.

Initial production is being stockpiled at the mine to be transported in larger batches for milling. Production and stockpiling operations for the first processing batch may take a month or more, however as operations scale, the Company anticipates transitioning to producing a processing batch every few days.

Christian Aramayo, Kuya Silver's COO, commented: "Achieving first production from the Bethania mine is a monumental milestone for Kuya Silver and signifies the beginning of increased production in this rich silver district. The dedication of the Kuya Silver team in Peru has been instrumental in reaching this point, demonstrating perseverance and proficiency while fostering a strong culture of safety and care for our surroundings."

The Company will continue to provide operational updates as the Bethania project ramps up.

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Figure 1: Christian Aramayo, COO (left) and David Stein, President and CEO (right) cutting the ribbon to officially open the Bethania Silver Mine

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Figure 2: First full ore cart, material from the Española vein hauled up from the 640 level by a motorized winch and ready to be dumped on the ore stockpile

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Figure 3: Group including Kuya Silver management, guests and mine staff entering the 670 level adit to inspect the progress

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National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Kevin J. O'Connell, P.E., Independent Technical Advisor to Kuya Silver and a Qualified Person as defined by National Instrument 43-101.

About Kuya Silver Corporation

Kuya Silver is a Canadian‐based mineral exploration and development company with a focus on acquiring, exploring, and advancing precious metals assets in Peru and Canada.

For more information, please contact:

David Stein, President and Chief Executive Officer
Telephone: (604) 398‐4493

Reader Advisory

This news release contains statements that constitute "forward-looking information," including statements regarding the plans, intentions, beliefs, and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "must," "next," "propose," "new," "potential," "prospective," "target," "future," "verge," "favourable," "implications," and "ongoing," and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those described in the forward-looking information as a result of various factors, including but not limited to fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing, and general economic, market, and business conditions. There can be no assurances that such forward-looking information will prove accurate, and therefore, readers are advised to rely on their own evaluation of the risks and uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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