Category: Silver Bullet Mines

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Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Announces Strategic Business Alliance and $1 Million Debenture Financing

Burlington, Ontario–(Newsfile Corp. – April 8, 2024) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce it is entering into a strategic business agreement (the “Agreement”) with Countryman Investments Limited of British Columbia, Canada (“Countryman”). The Agreement provides that Countryman will provide financial, business development and mining opportunities to the Company. Countryman is an existing SBMI shareholder.

Mr. Dave Richardson, a principal of Countryman, has agreed to join SBMI’s advisory board. Mr. Richardson has a long history in finance and business management, and will assist SBMI in implementing its business plan and expanding its business operations.

As the first phase in the implementation of the Agreement, SBMI intends to issue a convertible debenture (the “Debenture”) in an amount up to $1,000,000.00 to willing investors (“Investors”), issuable in tranches of $1,000.00 with each tranche having 10,000 detachable warrants. Each warrant has a term of three years and is exercisable at $0.12, $0.14, and $0.16 for years 1, 2, and 3 respectively following the issuance of the Debenture. The Debenture will have a three year term and interest will run at a rate of 12% per annum, payable semi-annually in arrears during year one and quarterly in arrears during years two and three. Interest will be paid to Investors in cash or in common shares of the Company, at SBMI’s option.

Each Investor at any time can convert its portion of the Debenture, in whole or in part, into common shares of the Company. The conversion price shall be $0.08 during the first twelve months following issuance of the Debenture, $0.10 during the next twelve months of the term of the Debenture, and $0.12 during the final twelve months of the term of the Debenture (the “Conversion Price”).

SBMI can force conversion of the Debenture, in whole or in part, if SBMI’s closing price for its common shares exceeds $0.25 for a period of ten days. The Debenture can be prepaid by SBMI any time after twelve months from the issuance of the Debenture.

Countryman is a subscriber to the Debenture.

The Debenture is subject to regulatory and board approval.

The Agreement and the Debenture provide further financial stability to SBMI. They will enable the Company to complete work required by MSHA at the Buckeye Silver Mine in Arizona, to further work at the Washington Mine in Idaho this year, and to address other corporate matters.

In Arizona, the mill is MSHA approved and functioning properly. Mineralized material which had been stockpiled at the Buckeye Silver Mine is being transported to the mill and stockpiled material at the mill is being processed. The field team is carrying out the work required by MSHA at the Buckeye Silver Mine, which should take between one and three months to complete. Timber has been delivered to the Buckeye Mine Site for timbering. No new material can be extracted from the mine until the work is complete.

SBMI believes the Agreement and the Financing show that the value the Company has created is being recognized by significant stakeholders. It also gives increased depth to the company’s strategic vision for the future.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204669

Categories
Base Metals Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Assays 480 Ounces per Ton Silver (14,929 Grams/ Ton) from Vein in New Zone1

Burlington, Ontario–(Newsfile Corp. – February 5, 2024) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce the assay results from its last blast prior to MSHA inspection and training. Select material collected from the vein assayed as high as 480 ounces per ton silver (see photo).


 
Sample from Vein in Zone1
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/196782_0f0cda66640568e2_001full.jpg

Random samples of the muck pile associated with that blast assayed 7.0, 3.8, and 8.0 ounces per ton silver. These random samples were not hand selected for grade but were taken directly from the raw material in pails to determine the mineralization in the blast muck. The Company continues to see an increase in the grade of the muck assays with each round, and reasonably believes the grade could continue to increase with each advancing round.

The main reason for this belief is the assay results from that area, which include the December 11, 2023 results of the concentrates averaging 24.2 ounces per ton (829.7 grams/tonne) silver, with the high grade line on the shaker table then assaying at 334 ounces per ton (11,451.5 grams/tonne). The Company also relies on the high grade silver results reported in its November 11, 2023 press release, and upon other internal assay results which have not been disclosed. As previously disclosed, the Company continually runs its own production assay lab and not all assay results, whether lower or higher than those above, have been or will be disclosed.

This material when combined with the high-grade material should provide excellent feed material to the mill.

SBMI is also pleased to advise its MSHA training has been completed and approved. The field team was back at the mine and mill sites making the necessary changes required by MSHA, and plans to commence production upon completion of those changes. The Company will provide a projected production schedule in the near future.

The Company is pleased with both the continued improvement in the head grade at the mine as well as the successful completion of its MSHA training and approval.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196782

Categories
Base Metals Energy Precious Metals Silver Bullet Mines

Silver Bullet Receives MSHA Approval

Burlington, Ontario–(Newsfile Corp. – January 23, 2024) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce as part of its ongoing transformation to a silver producing company, it has submitted and received approval for its mine training program from the Mine Safety and Health Association (“MSHA”), part of the United States Department of Labor. This MSHA approval covers the training program for both SBMI’s underground and surface operations. The approval process included three onsite inspections by MSHA and the completion by SBMI of a detailed safety operations program.

The field team in Arizona is currently attending the annual training program which will be completed this week, following which the field team intends to address any outstanding safety-related items, develop the silver higher-grade Zone1, and commence commercial operations.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195306

Categories
Base Metals Breaking Precious Metals Silver Bullet Mines

Silver Bullet Proves up Silver in Zone1 with Successful Bulk Sample and Produces 334 ounces per ton (11,451.5 grams/tonne) Silver Concentrate

Burlington, Ontario–(Newsfile Corp. – December 11, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announced on December 8, 2023 it had begun processing a bulk sample of mixed mineralized material from Zone1 at the Buckeye Silver Mine.

SBMI is pleased to announce it has successfully completed processing that bulk sample of 40 tons (36.29 tonnes), in less time than expected. The purposes of processing the bulk sample were to confirm the high grade nature of Zone1 and its recovery rates, and to confirm the mill’s ability to process a large amount of material from Zone1. Processing was successful on all counts.

The concentrates averaged 24.2 ounces per ton (829.7 grams/tonne) silver. The high grade line on the shaker table (see photo below) assayed at 334 ounces per ton (11,451.5 grams/tonne) recovered and to the field team’s visual observations showed native silver.



Silver mineralization on shaker table Dec 10, 2023

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/190561_abfa9436c438daa4_001full.jpg

“The entire team is encouraged by these results and by the mill proving its ability to process Zone1 material. This marks a significant advancement in Silver Bullet Mines’ journey towards reaching our next milestone: full production,” said John Carter.

The next step in the milling process for this material is magnetic separation of the concentrates to remove the iron and any associated PGMs it may contain. Those will be stored to be reviewed at a later time. Then the silver dore bars will be poured. SBMI expects those bars to be poured and ready for shipping in the near future.

Processing the material from Zone1 required simple adjustments to be made to the mill due to the higher grade material. The design of the mill allowed for these adjustments to be easily made.

The Company interprets these and the prior disclosed results as proving up the higher grade silver from Zone1. SBMI plans to now commence processing Zone1 materials on a larger scale.

SBMI will continue to stockpile material from Zone1 at the minesite. This material will be trucked to the mill as trucks are available.

Mining continues in Zone1 at the Buckeye Silver Mine where the vein is approximately 20 feet wide. Water has been noted in recent drill holes, which could indicate a contact zone which could alter the grade of the silver.

“This is the best material I have seen yet and I believe it is because we are in the outer zone of the historic targets that were drilled into back in 1969,” said Ron Murphy, SBMI’s Vice President, Mining.

QA/QC

The material from the Buckeye Silver Mine is assayed at multiple stages of the process. The assay results will provide input as to any adjustments that may be necessary to improve production efficiencies and grade.

Channel samples and grab samples are taken after each blast, to be processed at the Company’s production assay lab located at the mill. In accordance with best practices, multiple assays have been and should continue to be sent to third party ISO-accredited labs for multielement analysis including precious metals and PGMs. Readers are cautioned that these samples may not be representative of the Buckeye Mine as a whole, and not all assay results will be disclosed.

All samples above were analyzed by SBMI at its facility near Globe, Arizona. They were processed through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/190561

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Announces Assay Results of up to 24.2 oz/ton Silver from Zone1 and the Commencement of Milling

Burlington, Ontario–(Newsfile Corp. – November 27, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce high grade silver results as it moves to the next stage in the development of the new Zone1, as outlined in previous press releases.

In its press release of November 1, 2023, SBMI advised it was continuing to blast and muck in Zone1 towards what management believed to be a volume of higher grade silver mineralization. Since then, in the last three blasts the vein width significantly increased to over 19 feet wide, with current assays of up to 24.2 oz/ton silver from the new muck piles and directly from the vein (see chart below). This is significant as the Company believes it is very close to the 1969 historical drill holes, and expects the grade to increase in future blasts. It also provides strong support for management’s theory of the grade increasing as blasting penetrates further into Zone1.

Sample1Oz/t silverg/tonne silver
1A17.6603.4
1B17.4596.6
1C18.0617.1
Sample2
2A11.0377.1
2B12.8438.9
2C12.8438.9
Sample3
3A20.2692.6
3B18.8644.6
3C20.2692.6
Sample4
4A24.2829.7
4B24.2829.7
4C24.2829.7

“These results validate our interpretation of the historical and current data,” said A. John Carter, SBMI’s CEO. “The grades are increasing the further we blast into Zone1, as we expected. After battling through Covid, severe supply chain challenges, Mother Nature and unexpected price increases, it is rewarding to be hitting our targetted area, almost exactly where we expected it to be.”

As a result of these grades, management believes the recently blasted material to be economically viable and therefore is being prepared for transportation to the mill for processing. Upon receipt of the material the Company will restart the mill. SBMI is working with a transport company to arrange transportation to the mill.

The Company believes that due to the nugget effect nature of the host rock, milling could increase or decrease the overall grade.


 
Vein face as of Nov 17/23
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/188697_f4bbe84dd4c5ba22_003full.jpg


 
Close up on vein face as of Nov 17/23
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/188697_f4bbe84dd4c5ba22_004full.jpg

SBMI believes Zone1 to be the zone outlined in the historical data, including the 1969 drill results, and could contain a significant quantity of silver and other metals. The Company intends to continue to drill and blast in Zone1.

As described in the November 1, 2023 press release, a third party has advised it intends to soon send 900 pounds of gold concentrate to SBMI’s mill for processing into a higher purity product. SBMI and the third party will agree upon commercial terms once SBMI has had an opportunity to inspect the gold concentrate. Only minor changes will be made to the mill to enable the processing of the concentrate.

QA/QC

Channel samples and grab samples are taken after each blast, to be processed at the Company’s production assay lab located at the mill. In accordance with best practices, multiple assays have been and should continue to be sent to third party ISO-accredited labs for multielement analysis including precious metals and PGMs. Readers are cautioned that these samples may not be representative of the Buckeye Mine as a whole.

Samples 1, 2 and 3 were processed on November 17, 2023. Sample 4 was processed on November 22, 2023. All samples were run in triplicate.

All samples above were analyzed by SBMI at its facility near Globe, Arizona. They were processed through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188697

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Announces Potential Third Revenue Stream from Gold Processing

Burlington, Ontario–(Newsfile Corp. – November 1, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces a third potential revenue stream. This potential revenue stream flows from SBMI’s relationship with a lender announced earlier this year.

Earlier this year SBMI announced it had entered into an agreement with an arm’s length third party (the “Investor/Client”) for the amount of USD$350,000. This investment was structured as a loan having a five year term and a zero per cent interest rate. Following extensive due diligence of SBMI’s operations, the Investor/Client asked SBMI to work with it to advance other projects in which the Investor/Client is involved. The first two such projects under consideration were in Arizona and Colorado.

The Investor/Client and SBMI have entered into a verbal agreement whereby the Investor/Client will ship approximately 900 pounds of what it advises to be high grade gold concentrate to SBMI’s mill in Globe, Arizona from an Investor/Client mine in Colorado, to be processed through SBMI’s modular processing facility. SBMI expects to receive the material in early November, following which it intends to run the material through its system to determine recovery, develop a process flowsheet, and ultimately pour gold dore bars.

The design of SBMI’s 100% owned mill affords the flexibility to process many different types of material and optimize the resulting output with its state of the art gravity circuit. The Investor/Client has indicated the facility that produced the concentrate is not capable of processing the material to a purity desired by the Investor/Client. This concentrate may be well suited for SBMI’s circuit to yield a higher purity gold product than the other facility could provide.

Remuneration for this work being done for the Investor/Client will be determined after SBMI’s receipt of the material and initial evaluation.

The Investor/Client has advised it has a substantial stockpile of similar material to be processed by SBMI’s mill, assuming this test run is successful.

If this run is successful, processing material for the Investor/Client is a third potential near-term revenue stream for SBMI, with the other two being silver production out of the Buckeye Silver Mine and silver / gold production from the Washington Mine in Idaho. Production at Idaho will not commence until stable production is achieved in Arizona. The delivery of this material shows the Investor/Client strongly believes SBMI has the capacity and ability to provide the necessary services and achieve the Investor/Client’s desired results.

The Company will continue to update as this project moves forward.

SBMI is in discussions with other parties whereby SBMI will process third party material, and the Company will advise as such discussions progress.

At the Buckeye Mine, the team continues to drift in Zone1 towards what management believes is a volume of higher grade silver mineralization.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185886

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Announces High Grade Silver Results from the Treasure Room, and a Financing

Burlington, Ontario–(Newsfile Corp. – October 25, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces:

  1. two sets of high grade assay results from the Treasure Room
  2. initial assay results from the targeted mineralized zone at the Buckeye Mine in Arizona (Zone1),
  3. a financing, and
  4. the re-pricing of warrants.

The Treasure Room is located roughly 310 feet from the portal, or roughly halfway to Zone1 along the vein structure. On March 1, 2022 SBMI reported assay results from grab samples from the Treasure Room as follows:

GRAB SAMPLES
SAMPLE I.DSilverSilver
[oz/ton][ppm]
114.0480.2
215.2521.4
312.2418.5
413.6466.5
513.8473.3
635.21207.4
7125.04287.5
820.2692.9
921.2727.2

Additional selected grab samples were recently taken from the Treasure Room area, whose assay results were 8.6, 90.3, 90.6, and 229.7 ounces per ton silver. Paper thin plates of native silver, analyzed with a hand held XRF, were also observed along certain fractures.

Historically mining was carried out in the Treasure Room, resulting in stopes and drifts. A third set of selected grab samples from various stopes in the Treasure Room were assayed on October 23, 2023 and returned as follows:

  1. from stope 25 – 74.0 Ozs./Ton silver
  2. from stope 32 – 11.6 Ozs./Ton silver
  3. from stope 33 – 212.2 Ozs./Ton silver
  4. from stope 34 – 101.8 Ozs./Ton silver

Readers are cautioned that such samples may not be representative of the Treasure Room or the Buckeye Mine as a whole.

SBMI intends to stabilize the Treasure Room and provide other safety measures to allow access to the higher grade material located within the Treasure Room’s continuation of the vein. This will provide an additional supply of mineralized material for the mill and will also assist in refining a plan to mine that section of vein material. The Company believes the Treasure Room likely hosts more higher grade material at depth.

Zone1 begins roughly 700 feet from the portal. Twelve samples were assayed from the body of Zone1, with assay results from these preliminary samples averaging 2 oz per ton silver. Earlier assay results from the contact right edge with Zone1 over an initial width of 4 feet averaged 1 oz silver/t. Both of these averages are in line with management’s expectations. From past observations and past assays, the Company anticipates the silver grade to increase with further penetration into Zone1. Mineralized material will be shipped from Zone1 to the Company’s mill in Globe, Arizona when the grade is high enough to justify the cost of transportation.

Historically gold and copper values were also reported in Zone1. Current visual inspection of the vein material shows materials other than silver, for which SBMI cannot assay at its own onsite assay facility. SBMI has sent multiple samples of such material to an independent ISO 9001 certified lab for multielement analysis including gold and PGM.

The Company suffered through aberrant extremely hot weather in Arizona throughout most of August, 2023. For example, the temperature on the concrete ball mill pad during this period on occasion exceeded 150 degrees Fahrenheit. A wildfire proximate to the Buckeye Mine during that period caused by lightning further impeded SBMI’s efforts. The Company was unable to carry out work at the mill or at the Buckeye Mine during that period, and as a result was not able to generate cash flow. The Company now intends to bolster its financial position as it continues with operations.

SBMI intends to carry out a non-brokered financing (the “Financing”) of $500,000.00 by way of a private placement of units (each, a “Unit”) priced at $0.12 cents per Unit, resulting in the issuance of 4,166,666 shares. Each Unit will consist of one common share and a full warrant exercisable into one common share at $0.17 for a term of 2 years. There is no acceleration clause on these $0.17 warrants.

The Company also announces its intention to re-price previously issued warrants. SBMI intends to re-price all previously issued $0.60 warrants to $0.24, all previously issued $.50 warrants to $0.20, and all previously issued $0.30 warrants to $0.13. Regulatory approval is required for the Financing and to re-price warrants.

The Financing and the re-pricing of warrants are subject to regulatory approval.

QA/QC

All samples above were analyzed by SBMI at its facility near Globe, Arizona. They were processed through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab.

The SBMI facilities have been designed for quick production grade control and are not ISO compliant; however, duplicate sampling with other ISO labs has been done on past samples with good correlation.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Announces Interception of Targeted Higher-Grade Silver Zone

Burlington, Ontario–(Newsfile Corp. – October 11, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces the Company has intercepted the targeted mineralized zone at the Buckeye Mine in Arizona (the “Zone”). Based upon historical data, management expects the Zone to contain higher-grade silver mineralization. Confirmation will depend upon multiple rounds of sampling.

To target the Zone, SBMI has been working from its field team’s intensive knowledge of the area, assay data from historical drill holes drilled in 1969, mapping carried out in and around 1969, informal reports generated from such holes and mapping, actual field results as SBMI’s team drifted along the vein behind the Treasure Room, and the results of a recent LIDAR study. (As previously disclosed, the Company’s information related to those historical drill holes, the historical assaying of them, and the informal reports, do not meet NI43-101 standards and cannot be disclosed.

In its September 9, 2023 press release, and in other materials dating back to March, 2022, the Company advised, “The team now continues to drift along the vein towards a targetted area.” Management expects assay results from current and pending sampling should confirm the Zone has been hit, located where management believed it would be, based upon historical and current data. The Company is especially pleased that the historical data upon which it relied, has confirmed to be the actual location of the Zone, and can be further relied upon (see photo of targeted zone with iron oxide on right, vein and water course on left indicating fault and of the significant mineralization encountered in the zone).



Photo of mineralization on current face

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/183675_sbmimage1.jpg



Photo of mineralization on current face

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/183675_sbmimage2.jpg

In particular, SBMI drifted 708 feet from the portal, drifted behind the Treasure Room (which is not yet safe to work in), blasted through harder-than-expected host rock, and earlier this week drilled and blasted into the Zone approximately 30 feet from the projected drill holes left by a previous optionee in 1969. The assay data from those historical drill holes informed SBMI’s decision to target this zone; however, none were generally disclosed to the public. Please see the caution above.

SBMI plans to continue mining along the vein, refine a plan to maximize recovery of the metals from the Zone, and begin shipping mineralized material from the Zone to its 100%-owned mill in Globe, Arizona for processing. Multiple rounds of samples from the vein and the Zone will be collected and then assayed at SBMI’s 100%-owned assay facility. SBMI also intends to send samples to an independent third party lab for confirmation analysis and for analysis for other metals.

The Company continues to seek further data to inform its knowledge of local structures, the vein and the Zone. The Company recently contracted a Ground Penetrating Radar System study to outline the potential size and location of the Zone. The contractor for the study has advised it will use an OKM Future Walkabout 2003/5 ground penetrating radar unit that can detect historical tunnels, shafts and drifts, as well as native gold, native silver and other metals up to 60 feet deep.

The contractor has advised the company that the ground penetrating radar unit uses an electronic pulse method to select an anomaly in the Zone such as natural features, a formation of strata, hollow spaces, level groundwater, buried objects, pipes, tanks, boxes and other targets. The Company intends to further engage the contractor to help determine the overall extent of the Zone, the vein system and potential parallel structures.

The mine road was recently bladed in part by the United States Forest Service as part of its firefighting efforts. The mill has been test run, the fuel and water supply maximized, and the mill crew and assay teams are on standby. In conclusion, pending the sampling results, the mine and the mill are ready to be put into steady production.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

SBMI also announces that MNP LLP (the “Successor Auditor”) have been appointed as the company’s new auditor effective September 15, 2023, replacing Grant Thornton LLP, (the “Former Auditor”).

Reporting notices prepared in accordance with National Instrument 51-102 (“NI 51-102”) by the Former Auditor, the Successor Auditor and the Company have been filed on SEDAR.

There are no disagreements or consultations (as those terms are defined in NI 51-102) in connection with the change of auditor nor have there been any reservations or modifications in the Former Auditor’s reports on the Company’s financial statements relating to the period during which it was auditor.

No “reportable event” as defined in NI 51-102, has occurred in connection with the audit of the most recently completed fiscal year of the Company, nor any period from the most recently completed fiscal years of the Company for which Grant Thornton LLP issued an audit report and the date of the Notice.

The termination of Grant Thornton LLP, and appointment of MNP LLP, as auditor of the Company were considered and approved by the Board of Directors of the Company.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183675

Categories
Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Announces Investment and Continuation of Mining in Arizona

Burlington, Ontario–(Newsfile Corp. – September 7, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces the continuation of mining operations at the Buckeye Mine in Arizona and a cash infusion.

The aberrant extremely hot weather continued in Arizona throughout most of August, preventing work from then being carried out at the mill or at the Buckeye Mine. The temperature on the concrete mill pad during this period on occasion exceeded 150 degrees Fahrenheit. Running the mill in such hot weather would have been a danger to the proper functioning of the equipment. Mining, whether during the day or at night, would have been an unacceptable safety risk to the field team.

The hot weather has finally abated and the Company is pleased to announce the continuation of mining operations at the Buckeye Mine. Processing material at the mill should continue within roughly one month.

SBMI has been advised by the United States Forest Service that in August, 2023 lightning caused a fire near the Buckeye Mine. The USFS graded the road leading to the Buckeye Mine to allow it to bring in equipment needed to fight the fire.

The annual taxes on the BLM lands comprising part of the Black Diamond property, which surrounds the Buckeye Mine, have been paid.

SBMI is pleased to announce it has entered into an agreement with an arm’s length third party (the “Investor”) for the amount of USD$350,000. This investment is structured as a loan having a five year term and a zero per cent interest rate. The first tranche of this investment is USD$225,000 which has been received by SBMI, and the second tranche of USD$125,000 is contemplated to be forwarded to SBMI five days after the first shipment of silver dore has been received by the Investor. The loan is secured by two pieces of equipment onsite in Arizona.

This relationship with the Investor should allow SBMI to better execute its business model, substantially increase its revenue and expand its operations.

The Investor carried out an extensive due diligence review on SBMI, including a site visit to the Buckeye Mine and the mill, and including metallurgy on sample dore bars from the Buckeye. As a result of such extensive review, the Investor has asked SBMI to work with it to advance other projects in which the Investor is involved. The first two such projects under consideration are in Arizona and Colorado. It is intended that SBMI will provide mining, metallurgical and processing services to the Investor using SBMI’s state-of-the-art milling infrastructure and facilities. The SBMI mill should be capable of handling any of the Investor’s products under consideration, and being modular, can be expanded to increase its capacity as required.

The Investor is also a potential purchaser of dore bars to be produced at the mill. As the relationship evolves, it is likely the Investor will become SBMI’s largest customer.

On July 7, 2023 SBMI announced the extension of the silver purchase agreement with the Purchaser described in its April 27, 2023 and May 4, 2023 press releases. Effective June 30, 2023, the Purchaser and SBMI verbally agreed to extend the term of such agreement to August 31, 2023, and worked towards reducing such verbal agreement to writing. The Purchaser and SBMI continue in good faith to try to reduce the June 30, 2023 verbal agreement to writing including a new extension date.

The test-run shipment of silver, as described in the Company’s June 14, 2023 press release, from SBMI to the Purchaser was received and tested by the Purchaser. The 102 ounces comprising the test-run contained dore bars consisting of varying amounts of silver, copper, and other materials. The Purchaser has tested the dore bars to determine what composition is best suited for its purposes.

As for further detail in the mining activities, the Company reached the Treasure Room in March, 2022. Higher grade material was found in the wall rock, and the Company’s intention at the time was to commence mining on the other side of the Treasure Room where the vein is clearly visible. Unfortunately, unsafe working conditions due to ceiling instability meant the Company could not cross the Treasure Room and instead had to mine around the Treasure Room into the diabase. This added roughly 150 feet of drifting through harder host rock. During this time, encouraging values were obtained from samples but were not of sufficient volume to run the mill efficiently.

Until paused by the unusual heat wave, such mining activity had advanced approximately 600 feet from the portal entrance to the Treasure Room, then around the Treasure Room, and then along the vein. The team now continues to drift along the vein towards a targetted area. The Company estimates that it is relatively close to drifting into historical drill holes which can be traced from the casings on surface. The Company’s information related to those historical drill holes and the historical assaying of them do not meet NI43-101 standards and cannot be disclosed.

In furtherance of its understanding of the vein and the host rock, a Lidar survey of the Buckeye Mine was recently carried out.

At some time in the future, the Company will return to the Treasure Room (once fully safetied) and will develop the lower levels where the Company believes there to be more higher grade material. The cost and timing of such activities have not been determined at this time.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179793

Categories
Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Provides Update on its Wholly Owned Washington Mine Idaho Property

Burlington, Ontario–(Newsfile Corp. – May 23, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to provide an update on its wholly owned Washington Mine located in Idaho, approximately 1.5 hours drive from Idaho City. The Washington Mine was a historical gold producer, and its historical silver discoveries were not able to be processed at the time.

The Company has recently been able to physically access the property following a severe winter during which the area received more than 150% of its normal snowfall. Company personnel were able to visit the site to assess the condition of the mine and roads leading to the mine. It was determined that road repairs were required to some washed out areas but otherwise the site is in good shape. Permits for road repairs have been received and work is ongoing including the installation of a new culvert and is anticipated to be completed within thirty days.

The Company is currently finalizing a budget for property and site work for this year, including the set up of the mining camp, the hook up of the water supply, moving equipment to the site, and building necessary structures to house the equipment.

The Company has engaged an experienced underground mine contractor to carry out mining activities at the site. Commencement of mining activities, which is subject to the availability of sufficient financing, is anticipated to commence within 120 days.

It is estimated that potential mineralized material is located approximately 100 feet from the portal entrance. The Company plans to mine to that area and then extract an initial 2000 ton bulk sample. Historical values from multiple bulk samples averaged 44 ounces per ton silver and .05 ounces per ton gold (see press releases of January 18, 2022, and of February 14, 2022). The Company is negotiating with a local mill to process the material.

The Company has received the final report from the Centre for Advanced Materials Processing (“CAMP”) of Montana Technical University for the metallurgical testwork carried out on behalf of SBMI on samples from the Washington Mine. The data will be used as a basis for the Company’s mineral processing flowsheet. The work performed by CAMP using gravity and flotation combined produced initial recoveries of 86.35% for silver and 69.1% gold prior to optimization. Finally, CAMP advised the results of the tests it ran returned the head grade of the material at 62.8 silver ounces per ton and .062 gold ounces per ton. The Company is planning to run optimization tests to improve the results as recommended by CAMP.

Management is looking forward to starting re-development of the Washington Mine, and believes the mine has a great deal of potential not only as a significant silver producer but, based on last year’s field program, also as a potential extension of the historical high-grade gold zone (see press release August 23, 2023).

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO 
cartera@sympatico.ca 
+1(905)302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of mineralized material; the presence of mineable economic mineralized material; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/167100