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Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp.: Invitation to PDAC 2022 Booth 3308

Silver Bullet Mines, Proven and Probable

Burlington, Ontario–(Newsfile Corp. – June 10, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) invites you to visit them at Booth #3308 at The Prospectors & Developers Association of Canada Convention (PDAC) at the Metro Toronto Convention Centre (MTCC) on Monday June 13 to Wednesday June 15, 2022.

About Silver Bullet Mines Corp.

Silver production is imminent at Silver Bullet’s Buckeye Silver Mine, in Arizona. Only 63M shares outstanding, with 29M in escrow. The company owns its own mill, giving it great control over its costs.

About PDAC

The World’s Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 23,000 attendees in person in 2020, participants could also attend programming, courses and networking events.

The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world’s mineral industry. From 2021 it is also offered as an online event.

For more information and/or to register for the conference please visit: https://www.pdac.ca/convention/registration.

We look forward to seeing you there.

For further information:

Silver Bullet Mines Corp.
Peter Clausi
+14168901232
pclausi@brantcapital.ca
www.silverbulletmines.com

Categories
Breaking Energy Junior Mining Silver Bullet Mines

Commissioning of Silver Bullet Mines Corp.’s Mill Has Begun

Silver Bullet Mines, Proven and Probable

Burlington, Ontario–(Newsfile Corp. – June 9, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (“SBMI” or “the Company”) announces it has commenced commissioning of its wholly owned 125 MTPD state of the art mill located near Globe, Arizona. This is the next step to silver production.

“Commissioning is the culmination of much planning and hard work,” said A. John Carter, SBMI’s CEO. “The field team overcame global supply chain issues to create a functioning 125 MTPD mill, in a location that was an empty field only last September. We are looking forward to processing ore as quickly as possible.”



Water running through piping as part of start of mill commissioning.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8464/127116_fcd72cd6d43ca802_001full.jpg.

Commissioning will take place over the next few weeks and will include the following steps:

  • water will be run through the mill to check for leaks;
  • each motor will be test run individually and sequentially;
  • each piece of equipment will be test run individually and sequentially to confirm technical matters such as the alignment of gears, bearing temperatures, and clearances;
  • the conveyors will be tracked for speed and consistency;
  • the crushers will be adjusted to proper settings as dictated by the conveyors;
  • the ball charge will then be put in the mill, meaning the steel balls will be inserted into the ball mill in anticipation of feedstock;
  • once all the equipment is calibrated, the mill will again be wet run with water to insure pumps and piping are correct; and
  • the installation of ancillary equipment as needed will follow.

SBMI has contracted Sepro Mineral Systems Corp., the manufacturer of the Falcon Concentrators, to provide a start-up technical team to train SBMI’s experienced mill crew, to insure optimum efficiency of each piece of the mill and the mill overall. The third-party electrical engineers will have at least one person on-site during start-up as well.

When the overall mill has been confirmed to be operating properly, test feed material will be added. As previously disclosed the Company has stockpiled at the millsite some lower grade ore from the Buckeye Silver Mine to serve as test feed. This will allow SBMI to fine tune the mill while minimizing the risk of losing valuable metals to tailings.

It is anticipated the entire commissioning process will take a few weeks, following which processing of the higher grade material can begin.

SBMI will provide further updates as it progresses through the commissioning process.

Please check the Company’s website www.silverbulletmines.com, or follow on Twitter @bulletmines or at YouTube “Silver Bullet Mines”.

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

Silver Bullet Mines Corp. trades on the TSX Venture Exchange under the symbol SBMI and on the OTCQB Venture Market under the symbol SBMCF. The OTCQB Venture Market is for early stage and developing U.S. and international companies. Companies listed there are current in their reporting and undergo an annual verification and management certification process. Investors can find current financial disclosure for the Company on www.otcmarkets.com and at https://money.tmx.com/en/quote/SBMI .

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 availability of skilled and unskilled labour; the presence and recoverability of mineralization; ongoing availability of infrastructure such as electrical, diesel and road access; 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, permitting and regulatory approvals; activities and attitudes of communities local to the location of SBMI’s properties; price increases related to supply chain issues; 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 viruses create risks that at this time are immeasurable and impossible to define.

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Near-Term Production at Washington Silver Mine in Idaho

Burlington, Ontario–(Newsfile Corp. – May 5, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (“SBMI” or “the Company”) is pleased to provide an update on operations at its 100%-owned Washington Mine in Idaho. This mine is on patented lands.

“We are pleased to be back at the Washington Mine and moving forward to production,” said A. John Carter, SBMI’s CEO. “The plan is to access the ore zone in June, to commence production in July, and to continue to work through the winter of 22-23.” SBMI is in discussions with an experienced contract miner to commence such work as soon as reasonably possible, subject to a due diligence site visit.

The Washington Mine first saw production in the late 1800’s with an average gold grade of one ounce per ton. It again produced gold in the 1930’s during which time the then-owner lacked the process capability needed to produce silver, so a decision was made to block out the silver mineralization with the intention of returning at a future date to extract it. To the best of SBMI’s knowledge, the blocked-out volume remains in situ. A historical report indicates the blocked-out volume contains an estimated 3 million ounces of silver with a grade of 30 to 90 ounces per ton and 15,000 ounces of gold at 0.3 ounces per ton. (Source, “Geological Evaluation”, Roger G. Stoker, P.G. and Ryne C. Stoker, Student Geologist, Energy Services Inc., December, 1981.)

Stoker also indicated the location of the “Berger Vein”, described as a “gold ore shoot 25 feet wide, 135 feet long, and unknown depth.” Average grades were given as 0.3 oz/ton gold with unknown silver content. Additional notes in Stoker suggest that the Berger Vein was intersected in drifting at the 400-foot level.

The references above to data and observations derived from work not carried out by SBMI are of historical nature only and cannot be relied upon at this time. SBMI does not know the methods by which such work was carried out, or whether all or part of it was under the supervision of a Qualified Person, as that term is defined in NI43-101. SBMI refers to such data and observations to inform its knowledge of the area.

Based in part on the information from Stoker, SBMI took a bulk sample from the Washington Mine, the results of which were disclosed on January 18, 2022. That bulk sample returned 55.5 ounces silver per ton. It is the Company’s intention to exploit that mineralization while developing other vein faces.

To that end the Company’s onsite contractor has cleared small trees that had fallen over the winter, has upgraded the road, and with snowmelt, has cleared access to the main portal.



Small trees being cleared off road to portal

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8464/122864_b60aa5b0a4259a0a_001full.jpg

SBMI has also contracted a portable sawmill to be on site in the near future to start cutting timber for the underground workings. There will be cost-savings as SBMI owns the timber rights at the Washington Mine, meaning SBMI can provide most of the required timber. The Company is also installing a water supply and equipment container.

It is intended that SBMI meet the contract miner at the Washington Mine in the next few weeks for a due diligence visit. Some of the items involved in having the contract miner begin removing mineralized material are:

  • Road upgrade permit has been received and the work completed;
  • Mine ID has been applied for and received;
  • A ventilation plan is in progress and should be completed in next few weeks;
  • MSHA approval should be received shortly;
  • Contract negotiations are underway with a Mine Rescue contractor; and
  • Metallurgical testing is ongoing at Montana Technical University with results anticipated in the next few weeks.

It is anticipated the contract miner will take an initial bulk sample of 1500 to 3000 tons in July, for processing at a local mill. Upon completion of the processing of the bulk sample, SBMI intends to start underground development, targeting the parallel zone and the Berger Vein.

All the above items are being completed under the on-site supervision of Mr. Nick Barr, geologist.

The Company is also planning a surface exploration program at the Washington Mine this summer to further delineate the parallel structures discovered during last year’s field program.

Access to the property can be maintained through the winter as SBMI has contracted a local service provider who has the equipment needed to keep the road open. Decisions on the scope of winter work underground will be determined after the Company receives the results of the July bulk sample.

In Arizona at the Buckeye Silver Mine, work continues to complete the 125t/day mill. Wiring the Motor Control Centre to the various parts of the ball mill has begun. The estimated timeline for completion is roughly four weeks, although that is largely out of SBMI’s control. There continues to be some supply chain risk and pricing risk as to when all equipment will be ready and on-site, although SBMI believes it has taken all necessary steps to reduce such risks.

Please check the Company’s website www.silverbulletmines.com, or follow on Twitter @bulletmines or at YouTube “Silver Bullet Mines”.

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

Silver Bullet Mines Corp. trades on the TSX Venture Exchange under the symbol SBMI and on the OTCQB Venture Market under the symbol SBMCF. The OTCQB Venture Market is for early stage and developing U.S. and international companies. Companies listed there are current in their reporting and undergo an annual verification and management certification process. Investors can find current financial disclosure for the Company on www.otcmarkets.com and at https://money.tmx.com/en/quote/SBMI.

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 SBMI’s properties; price increases related to supply chain issues; 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 viruses create risks that at this time are immeasurable and impossible to define.

Categories
Base Metals Energy Junior Mining Silver Bullet Mines

Silver Bullet Mines Corp. Closing of Oversubscribed Financing

Burlington, Ontario–(Newsfile Corp. – March 30, 2022) – On March 25, 2022, Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) announced an extension to close on the final tranche of its previously announced financing (the “Financing”). The Company announces it has now closed on the final round of the Financing. The gross cash proceeds from the Financing is $2,718,903.

“We thank the shareholders for their continued faith in our business plan and in our ability to execute on it,” said A. John Carter, SBMI’s CEO. “We had planned certain capital expenditures for some months out to improve the recovery rates for silver and copper at our mill in Arizona. The strength of the Financing empowers us to makes those expenditures now, which we expect will increase anticipated revenue and cash flow.”

The oversubscribed total represents 6,797,258 Units, with each Unit priced at $0.40 (forty cents). Each Unit consists of one common share and one full 60-cent (sixty cent) warrant with a 24-month term, with each such warrant being exercisable into a common share (the “Financing”). There is no acceleration clause on such warrants.

The Financing had an original minimum-maximum of $500,000 and $2,000,000 respectively. The Financing was oversubscribed by more than 35% of the original maximum.

In connection with the Financing a total of 79,130 broker warrants were issued as referral fees to registrants, with such warrants having the same characteristics as those issued in the Financing. A total of $73,352 was also paid in cash as referral fees.

An insider of the Company participated in the Financing which is a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relies upon the exemptions contained in MI61-101 in sections 5.5 and 5.7.

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 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 viruses 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/118609

Categories
Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. New Auditors and Extension of Oversubscribed Financing

Burlington, Ontario–(Newsfile Corp. – March 25, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) announces an extension to close on the final tranche of its previously announced financing (the “Financing”). The Company has closed on two tranches already in the Financing and has outstanding subscription agreements in hand. The total amount when adding the cash from those two tranches and the outstanding subscription agreements is $2,518,903.

The TSX Venture Exchange has granted an extension to April 1, 2022 to allow SBMI to physically gather all payments for its outstanding subscription agreements. This is purely a logistical issue. There will be no new subscription agreements in the Financing.

“We thank the shareholders for their continued faith in our business plan and in our ability to execute on it,” said A. John Carter, SBMI’s CEO. “The funds raised in this financing have been budgeted to put the Buckeye Mine into production, to complete our mill, and to advance the Washington Mine in Idaho in the near-term to where it can be ready for mineral extraction.”

The oversubscribed total represents 6,297,258 Units, with each Unit priced at $0.40 (forty cents). Each Unit consists of one common share and one full 60-cent (sixty cent) warrant with a 24-month term, with each such warrant being exercisable into a common share (the “Financing”). There is no acceleration clause on such warrants.

The Financing had an original minimum-maximum of $500,000 and $2,000,000 respectively. The Financing was oversubscribed by more than 25% of the original maximum.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Grant_Thornton_LLP%253BSilver_bullet%253BCompany%253BAuditor%253BTSX_Venture_Exchange%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522e29233e5-690b-31e7-8ac4-a82e8dc8a260%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

In connection with the Financing a total of 79,130 broker warrants were issued as referral fees to registrants, with such warrants having the same characteristics as those issued in the Financing. A total of $73,352 was also paid in cash as referral fees.

The strength of the Financing enables SBMI to implement additions to its mill in Arizona to increase recoverability. The modular nature of the mill allows such additions to be made relatively quickly. Management is of the opinion that the positive results of such improvements justify a minor delay to the start of processing material from the Buckeye Mine.

SBMI also announces that Grant Thornton LLP (the “Successor Auditor”) have been appointed as the company’s new auditor effective March 22, 2022, replacing McGovern Hurley 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 will be 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 McGovern Hurley LLP issued an audit report and the date of the Notice.

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

Finally, SBMI announces the resignation of Ronald Wortel from his officer position with the Company. He remains a member of the board of directors.

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 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 viruses 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/118102

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. to Commence Mining at its Wholly-Owned Washington Mine in Idaho

Burlington, Ontario–(Newsfile Corp. – March 15, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) announces it has made a production decision for its Washington Mine on patented land in Idaho. Upon review of the historical records, SBMI’s 2021 and 2022 field programs, the proposed budget, the success of the financing announced February 9 of this year, the existing infrastructure and the current data including SBMI’s blended bulk sample that yielded 55.5 ounces silver per tonne, the board has decided to initiate mining at the Washington Mine.

It is the Company’s plan to widen the existing adit, make the area safe for work, proceed to the historical workings and extract mineralized material. To that end SBMI is in discussions with an experienced contract miner to commence such work as soon as reasonably possible, subject to a due diligence site visit.

This part of the Washington Mine was last mined in the 1980’s when a bulk sample was removed by the then-owner and processed by Hecla Mining. That bulk sample resulted in a grade of 44 ounces silver per tonne and 10 grams of gold per tonne. (All historical references pre-date NI43-101 and the work involved was not carried out by SBMI. SBMI does not know what processes were followed for any such work or whether the work was carried out under the supervision of a Qualified Person. Such historical references cannot be relied upon until further work is carried out.)



Historical Adit at the Washington Mine in Idaho

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8464/116811_ef9560e9846dda96_001full.jpg

The Washington Mine overall first saw production in the late 1800’s with an average gold grade of one ounce per ton. It again produced gold in the 1930’s during which time the then-owner lacked the process capability needed to produce silver, so a decision was then made to block out the silver mineralization with the intention of returning at a future date to extract it. To the best of SBMI’s knowledge, the blocked-out volume remains in situ. A historical report indicates the blocked-out volume contains an estimated 3 million ounces of silver with a grade of 30 to 90 ounces per ton and 15,000 ounces of gold at 0.3 ounces per ton. (Source, “Geological Evaluation”, Roger G. Stoker, P.G. and Ryne C. Stoker, Student Geologist, Energy Services Inc., December, 1981.)

The historical records and existing infrastructure suggest SBMI should be able to in the short-term extract a bulk sample of 1,500 to 3,000 tonnes of mineralized material from that blocked-out volume. After a brief pause to assess the results of the bulk sample and to inspect more of the existing infrastructure, the Company would continue extracting material from this part of the mine and also develop a ramp to the high-grade parallel structure identified in last year’s field program. (see press release of December 15, 2021).

The Company is waiting on metallurgical testing results from Montana Technical University to enable SBMI to create an appropriate flowsheet and recovery parameters, following which the Company intends to reach terms with a third-party mill in Idaho. The resulting processed silver and other materials will be sold to local smelters at spot prices. The Company is also in discussions with two commodity brokers interested in buying the expected concentrate. There is a risk the Company will not be able to reach agreement with any of these counter-parties, including the contract miner.

In anticipation of start-up the Company has received its mine ID number and is completing the MSHA application. Other permitting is limited as the Washington Mine is on patented land.

“These are very exciting times for Silver Bullet Mines as we rapidly approach commencement of mining operations at the Buckeye Mine in Arizona and move simultaneously to mining in Idaho,” said A. John Carter, SBMI’s CEO. “Revenue generated from both mines can fund exploration programs to attack the past-producing McMorris Mine, increase production capacity at our 100%-owned modular mill, and explore the potential for a copper porphyry at our Black Diamond Property.”

The financing announced February 9, 2022 has closed two tranches totalling $1,574,075. There will be at least one more closing before March 26, 2022. This successful financing means SBMI is well funded to finance the opening of both the Buckeye and Washington Mines.

Please visit the website at www.silverbulletmines.com for pictures, video and technical information, or find us in the metaverse in Horizon Worlds.

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 viruses 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/116811

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines – Buckeye Mine – Second Access to Treasure Room

From the offices of John Carter, CEO, Silver Bullet Mines

Everyone,

I know I just put an update out just last week but things are really moving fast !
I will make it quick :
Mill site is going great . Last major frame material arrived late but we got it now this week we can complete the screen frame and conveyor install then work on the chutes . Last but not least we are supposed to be drilling our well this week fingers crossed and then electrical. Do not anticipate a problem with supply as all components are NA made . Oh yah one other thing we are starting to stockpile ore at the millsite this week !
At the mine check out the new video on the website and on Utube. We now have our second access to The Treasure Room opened up and our destination is in sight ! Still lots of work but we are up for it !
On the Idaho front I said news is coming and it is . We are really making headway in anticipation of being on site in April! Really exciting.
On the corporate front I hope you saw the pr on the financing really phenomenal that we were able to accomplish this ! Over 80% of the funding came from existing shareholders. We have a few stragglers that will close this week but we did it ! Also I hope you saw the Metaverse PR ? We need to get people excited about SBMI and one of those ways is to think outside the box and that’s what we are doing! Always pushing the rope uphill.
As always make sure you check out the website https://urldefense.proofpoint.com/v2/url?u=http-3A__www.silverbulletmines.com&d=DwIFaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=alXGId5R9cxJuK5Z2z9UoGUtk8y1SZGhzm32O97Bmm8&m=ssPVP96Apg6XkukZTR94OnbkffjURiTeGk9VyKFC45o&s=pkmiaBI8vz5SSc6bLpj5xcc6KreLnv2VSIFUK7XkV2U&e= , follow us on Twitter @bulletmines and Utube silver bullet mines .
Again thank you for your continuing support!
Enjoy!!!!

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Successful Financing

Burlington, Ontario–(Newsfile Corp. – February 22, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) announces it has closed on $764,000, in its previously announced financing. This represents 1,910,000 Units, with each Unit priced at $0.40 (forty cents). Each Unit consists of one common share and one full 60-cent (sixty cent) warrant with a 24-month term, with each such warrant being exercisable into a common share (the “Financing”). There is no acceleration clause on such warrants. That pricing is at a 33% premium to the previous round of financing.

This is the first tranche of Units on which SBMI has closed. SBMI has subscription agreements in hand totalling roughly a further $500,000, which means SBMI will continue to close on further tranches over the next while as it collects funds.

These funds will be used to complete the process of putting the Buckeye Silver Mine into pilot production in March, 2022, to advance metallurgic work at the past-producing silver and gold Washington Mine in Idaho, and for working capital.

“What’s fascinating to me is the continued strong shareholder support,” said A. John Carter, SBMI’s CEO. “We are particularly pleased with the high percentage of subscribers in this financing who are already shareholders. Their repeat participation indicates a strong endorsement of SBMI’s business plan and our execution upon it. Because we took a non-traditional route, we remain on path to be in pilot production of silver this quarter.”

Referral fees may be paid to arm’s length persons in connection with the issuance of the Units. Other than the subscription agreement, there will be no further offering material provided to Existing Security Holders or others related to Financing. The subscription agreement is available at the Company’s website https://www.silverbulletmines.com/technical-corporatedocuments.

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 viruses create risks that at this time are immeasurable and impossible to define.

Categories
Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Advances Metallurgy in Idaho and Breaks into Target Zone in Arizona

Burlington, Ontario–(Newsfile Corp. – February 14, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) announces significant achievements related to the Washington Mine in Idaho and the Buckeye Silver Mine in Arizona.

In Idaho, the Company has engaged the Center for Advanced Materials Processing (“CAMP”) of Montana Technical University, part of Montana University, to provide it with mineralogy, gravity, and flotation testwork. In Arizona, the field team has broken into what it believes to be the higher-grade mineralized zone, which appears to be located exactly where predicted by the historical records and SBMI’s own work.

Idaho and CAMP

SBMI purchased the past-producing Washington Mine on patented lands in Idaho in December, 2020. As reported on January 18, 2022, assay results from a blended bulk sample at the Washington Mine site averaged 55.5 ounces of silver per tonne. Values reported in that press release ran as high as 180 ounces silver per tonne and 18 grams of gold per tonne. Historical records and SBMI’s field work lead management to believe the Washington Mine is capable of near-term revenue generation.

As said by Mr. A. John Carter, SBMI’s CEO, “We knew from historical records the Washington Mine was going to be good. We didn’t know it would be this good. We have to invest into the property to get it ready for mining.”

To advance its knowledge of the Washington Mine, SBMI has entered into an agreement with CAMP. Established in 1989, CAMP is a Montana University System designated Center of Excellence in Research and Education, located on the campus of Montana Technological University. CAMP’s activities involve three components, namely, an analytical testing laboratory, a materials testing laboratory, and research program management. Included in the services CAMP will provide to SBMI are the following:

  • Automated Mineralogy by SEM and EDS utilizing TESCAN’s Integrated Mineral Analysis (TIMA) software include model mineralogy liberation and associations up to 5 size fractions;
  • XRD: Mineralogy by X-Ray Diffraction;
  • Sample prep to 95% passing ¼ inch and rotary split;
  • Grind determinations to establish a grind curve;
  • Falcon evaluation and Table evaluations; and
  • Flotation evaluations, fire assay, acid digestion and ICP-OES.

SBMI will use CAMP’s results to design a flowsheet intended to maximize the recoveries at the Washington Mine in Idaho and to reduce overall milling costs for the Washington Mine ore. This relationship with CAMP is made possible at this time by the Company currently carrying out a financing to buttress its treasury (press release of February 9, 2022).

The current plan, depending upon the quantum raised in the current ongoing financing and the results from CAMP’s tests, is to be on site at the Washington Mine by the end of March, 2022 and to then immediately commence collecting mineralized material. That material will come from surface, having been hauled to surface by prior owners who were seeking gold, and from development of the historical underground workings. The goal is to be generating revenue in the fourth quarter of 2022. This is another example of SBMI thinking outside the box by establishing a cash flow model to fund future operations, reduce dilution, and create value for its shareholders.

Target Zone in Arizona

The field team in Arizona last week blasted into what is believed to be the higher-grade silver mineralized zone at the Buckeye Silver Mine. As previously disclosed SBMI’s target is the high-grade silver zone identified in 1976 by K.C. Delise, an Arizona geologist, in a report titled Surface/Underground Mapping and Sampling. In his report he mapped and identified this zone as extending approximately 500 feet along strike.

Locating what is believed to be the higher-grade silver zone is a major development as:

  1. It should provide SBMI’s mill with higher-grade material, which can be blended with lower-grade material to increase the mill’s operating efficiencies;
  2. It validates the Company’s mine plan for the Buckeye; and
  3. The mineralized zone appears to be located exactly where predicted by SBMI’s field team and by Mr. Delise. This gives a very high level of confidence as to future decisions at the Buckeye and at SBMI’s other past-producing mines.

“This is old school mining,” said Mr. Carter. “We know where the mineralization is, so we’re going to spend shareholder money making money.”

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 accuracy and thoroughness of historical records; 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 viruses create risks that at this time are immeasurable and impossible to define.