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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:
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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.

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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.