Kuya Silver: Provides Update on Exploration and Development Program at Bethania Project and Announces Letter of Intent to Acquire Properties in the Historic Cobalt Silver Mining District

• Kuya to accelerate exploration and development program at its flagship Bethania project

• Kuya has entered into a Letter of Intent (“LOI”) with First Cobalt Corp., to acquire the Kerr Project and an option to enter a joint venture to earn up to 70% of its remaining Cobalt, Ontario area claims

Vancouver, BC, December 21, 2020 – Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (Frankfurt: 6MR1) (the “Company” or “Kuya”) is pleased to provide an update on its operational plans for the Bethania Project. Having completed the acquisition of S&L Andes Export S.A.C. (“S&L Andes”, as announced on December 16, 2020), and taken legal and operational control over the Bethania Project, Kuya is planning to accelerate its activities at the project site in 2021 in order to execute its planned expansion of mining operations.

Beginning in January 2021, Kuya will commence dual exploration and mine development programs with the goal of integrating data collected from drilling campaign and other studies at site into our mine planning process.

Some of the early projects to be executed include: construction of a “phase 1” habitation facility that would be used largely for exploration and construction personnel; site preparation, including roads and platforms, for the upcoming diamond drilling program; and mine rehabilitation projects that Kuya has identified as a priority in order to upgrade safety and environmental management at site.

Over the first few months of the year, Kuya’s drill program will focus mainly on near-mine resource definition, with the goal of providing additional valuable data for resource modelling and mine planning purposes, and at the same time Kuya intends to upgrade our resource model to achieve compliance with National Instrument 43-101 (“NI 43-101”) reporting. The drill program will also include shallow “step-out” holes to the east and along strike of the mine where historical mining occurred.

Kuya’s President and CEO, David Stein stated, “We are very pleased to have completed the closing of the acquisition of S&L Andes, and very shortly we will be resuming field activities and ramping up development of the project. Kuya’s goal over the entire 2021 will be to run mine development activities and aggressive exploration in parallel. In doing so, Kuya believes it can continue to de-risk our start-up expansion case for restarting operations at Bethania, while at the same time addressing our longer-term growth objectives for the Bethania Project.”

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