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Kootenay Silver acquires La Cigarra project royalty from Coeur Capital

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Kootenay Silver acquires La Cigarra project royalty from Coeur Capital

KootenaySilver Inc. said March 29 that it has acquired 's 2.5% net smelterreturn royalty on future production from Northair Silver Corp.'s La Cigarra silver project in Mexico.

Kootenay will pay Northair US$250,000 upon signing, followedby a cash payment of US$250,000 on April 19. Kootenay will also issue to Coeurshares equivalent to US$2 million at a share price of 27.5 Canadian cents pershare, or 9,629,091 shares of Kootenay.

Kootenay Silver and Northair Silver a definitive agreement inFebruary which will see Kootenay take over Northair.

The NSR transaction is not dependent on the completion ofthe takeover.

In addition, Coeur has agreed with Kootenay to vote with allof its shares it holds in Northair to support the takeover. Coeur ownsapproximately 13.5% of outstanding Northair shares.