Kootenay Gold Receives 'SPECULATIVE BUY' Recommendation from Union Securities

• "We Believe Kootenay’s Promontorio Resource Will Grow Significantly: At present, the resource is modest with approximately 21 million oz silver equivalent. Subsequent drilling has shown mineralization continuous over a 1km trend. Mineralization remains open at depth.
• 25,000m+ Drill Program Underway: The current phase of drilling will test below the current extent of drilling at Promontorio as well as conduct infill drilling along the 1km mineralized trend.
• Plenty of Exploration Upside Remains: Kootenay performed shallow drilling along the Dorotea anomaly, intersecting some mineralization over modest widths; it remains open at depth and along strike. A number of prospective areas on the property have been identified.
• Key Catalysts and Risks: Kootenay’s near-term catalysts include drill results from its current drill program at Promontorio, an updated resource within the next 12 months, and the potential for merger and acquisition activity. Kootenay’s key risk in the short term would be exploration risk.
• We are initiating coverage of Kootenay Gold Inc. with a target price of $2.50 and a Speculative Buy rating."