KOOTENAY RESOURCES INC ANNOUNCES PRIVATE PLACEMENT FINANCING OF $300,000

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

VANCOUVER, BC, Dec. 28, 2021 /CNW/ - Kootenay Resources Inc. ("KSR" or the "Company") is pleased to announce that a non-brokered private placement of up to 6,000,000 Flow Through units at a price of $0.05 per unit raising aggregate proceeds of up to $300,000. Each unit shall consist of one common share. Proceeds received from the private placement will be used for the development of the company's resource properties and general working capital requirements.

The securities to be issued under the private placement will be offered by way of private placement in each of the provinces of Canada, other than Quebec, and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.

The private placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. The shares to be issued under the Offering will have a hold period of four months and one day from Closing.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Kootenay Resources Inc.

KSR is an exploration company actively engaged in the exploration and discovery mineral projects in British Columbia, Canada.

On behalf of the board of directors of the Company:

James McDonald,
Director

No Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

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 KSR 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, KSR expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in KSR's expectations or any change in events, conditions or circumstances on which any such statement is based.

SOURCE Kootenay Resources Inc.

For additional information, please contact: James McDonald, Director at 403-880-6016; Raj Kang, Director at 604-601-5650