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News and Updates

Silver Bullet Mines Corp. is listed on the TSX-V under the Symbol SBMI.

Please check in here for news highlights and updates.

Index

Please scroll down for the full release

2022

May 5, 2022 - Press Release - Near-Term Production at Washington Silver Mine in Idaho

April 25, 2022 - Press Release - Mill Update

April 11, 2022 - Press Release - Now trading on OTCQB - Symbol SBMCF

April 4, 2022 - Press Release - Assay Results from the Buckeye Mine Including a Footwall Assay of 706.6 Ounces per Ton Silver

March 30, 2022 - Press Release - Closing of Oversubscribed Financing

March 25, 2022 - Press Release - New Auditors and Extension of Oversubscribed Financing

March 15, 2022 - Press Release - SBMI to Commence Mining at its Wholly- Owned Washington Mine in Idaho

March 11, 2022 - Press Release - Financing - Closing Second Tranche

March 10, 2022- Press Release - Metaverse

March 1, 2022 - Press Release - Breaks into the Treasure Room and Reports Assay Results 

February 22, 2022 - Press Release - Financing - Closing First Tranche

February 16, 2022- Press Release - Successful Financing

February 14, 2022 - Press Release - Advances Metallurgy in Idaho and Breaks into Target Zone in Arizona

February 9, 2022 - Press Release - Financing with Lead Orders

February 7, 2022 - Press Release - Timetable for Silver Production

January 27, 2022 - Press Release - Commences Extraction of Mineralized Material the Buckeye Silver Mine in Arizona

January 18, 2022 - Peter Clausi, VP Capital Markets and Director, Interview

January 18, 2022 - Press Release - Idaho Bulk Sample

January 13, 2022 - John Carter, CEO, Interview with Maurice Jackson

January 12, 2022 - Stockhouse Editorial

January 5, 2022 - Press Release - Pilot Plant Construction Update

2021

December 31, 2021 - Year End Update

December 15, 2021 - Press Release - Silver Bullet Mines Reports 6,174 g/t Silver and 18 g/t Gold at Its Washington Mine in Idaho

December 6, 2021 - Silver Bullet Mines Commences Trading and Provides Updates on Arizona and Idaho

 

Silver Bullet Mines information can also be found on Sedar:

May 5, 2022

Near-Term Production at Washington Silver Mine in Idaho

 

May 5, 2022 – Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI and 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.

May 5, 2022-1.jpg

Small trees being cleared off road to portal

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.

April 25, 2022

Silver Bullet Mines Corp. Invited Back to Emerging Growth Conference and Update on Mill in Arizona

 

Burlington, Ontario--(Newsfile Corp. - April 25, 2022) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ("SBMI" or "the Company") is pleased to provide the following update on the current status of operations at its 100%-owned mill near Globe, Arizona.

All major components are in place at the mill and the technical team is completing the installation of smaller components while preparing for the installation of the electrical system. The timing of starting of the electrical work was dependent upon the timing of delivery of the third shipping container to the millsite and the installation of the equipment including the Motor Control Centre ("MCC"). The installation of those items was a pragmatic pre-condition to SBMI applying for the requisite permits.

Once those items were installed, SBMI applied for and received the necessary permits. With those permits in hand the electrical contractor is currently assembling the panels and switchgear at its plant mill. SBMI anticipates that task should be completed in the next three weeks. Cable trays on the mill and MCC are installed in anticipation of the electrical team being on-site. As an ESG-committed company SBMI is ensuring all installations are carried out safely, to code, and with minimal impact on the environment.

"As much as we'd like to, we are unable to give with precision an exact date upon which the mill will be turning, but we are extremely close to being able to process ore from the Buckeye Silver Mine," said A. John Carter, SBMI's CEO. "The field team has been doing tremendous work to get us here. We continue to stockpile ore at the millsite in anticipation of mill completion."

SBMI also announces that it has been invited to present again at the Emerging Growth Conference on Wednesday, April 27 at 12:30 pm EST.

SBMI first presented at the Emerging Growth Conference in December, 2021, just after SBMI's common shares were listed on the TSX Venture Exchange. Now that SBMI's shares also trade through the OTCQB, it seemed appropriate to re-visit this conference to update attendees on SBMI's progress at its silver mines in Arizona and Idaho.

This will again be a real-time, interactive event will give existing shareholders and the investment community the opportunity to interact with Mr. Peter M. Clausi, SBMI's VP, Capital Markets, in real time. Mr. Clausi will provide a general overview of SBMI, its capital structure, its achievements in the field, its ESG successes, and its plans for the future. The floor will then be open for questions.

Please register at the link below to ensure attendance at the conference and to receive any updates that are released.

https://goto.webcasts.com/starthere.jsp?ei=1541769&tp_key=abbe1c785f&sti=sbmcf

If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com.

About the Emerging Growth Conference

The Emerging Growth Conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.

The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts. All sessions are conducted through video webcasts.

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; 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.

April 11, 2022

Silver Bullet Mines Corp. Announces Listing on OTCQB

 

April 11, 2022 – Burlington, Ontario - Silver Bullet Mines Corp. (TSXV: SBMI)  (“SBMI” or “the Company”) is pleased to announce that on April 11, 2022 its common shares will commence trading on the OTCQB under the symbol SBMCF.

 

The Company's common shares will continue to trade on the TSX Venture Exchange under the symbol SBMI.

“We listed on the TSX Venture Exchange on December 6, 2021,” said A. John Carter, SBMI’s CEO. “Since we have been repeatedly contacted by U.S-based investors seeking to participate in our story. The only real option to accommodate them was to expand onto the OTCQB.”

The OTCQB is a US trading platform operated by the OTC Markets Group and is the premier marketplace for entrepreneurial and development stage U.S. and international companies committed to providing a high-quality trading and information experience for their US investors. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.

The OTCQB listing has the potential to further enhance trading volumes through an expansion of investment advisers' ability to recommend investments to their U.S. clients. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

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; 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.

April 4, 2022


Silver Bullet Mines Provides Assay Results from the Buckeye Mine Including a Footwall Assay of 706.6 Ounces per Ton Silver

 

Burlington, Ontario--(Newsfile Corp. - April 4, 2022) - Silver Bullet Mines Corp. (TSXV: SBMI) ("SBMI" or "the Company") is pleased to provide the following report on its continuous assay program at its Buckeye Silver Mine in Arizona.

This press release reports the recent assay results from 44 samples. The assays were processed at SBMI's non-ISO in-house assay facility in Arizona under the supervision of Robert Budd, a metallurgical engineer whose career in metallurgy began in 1972, and Vic Powers, a certified Arizona assayer. The assays include samples from four underground areas of the Buckeye Mine, these being: 1) the footwall of the vein; 2) the recently announced Treasure Room stope; 3) behind the Treasure Room stope; and 4) the historical tailings.

Five samples, taken from the footwall of the vein from an area covering approximately 14 to 18 inches in width, provided the following returns (in ounces of silver per ton or oz/t as well as grams per tonne or g/t):

  • 341.8 oz/t or 11,718.95 g/t;

  • 336.2 oz/t or 11,152.95 g/t;

  • 674.0 oz/t or 23,108.76 g/t;

  • 706.6 oz/t or 24,226.49 g/t; and

  • 124.4 oz/t or 4,265.18 g/t;

The average of the remaining 39 samples (including 6 samples of 0.0 oz/t) is as follows:

  • Treasure Room stope assays (27 samples) - 20.17 oz/t or 691.56 g/t silver

  • Assays behind the Treasure Room stope (7 samples) - 37.08 oz/t or 1,271.32 g/t silver

  • Assays from the Treasure Room's historical tailings (5 samples) - 17.9 oz/t or 613.72 g/t silver.

cd6817a00f12af34b2c3ab022ccafc8a-505px.webp

The overall average for all the 39 above samples is 22.91 oz/t or 785.63 g/t silver. The high-grade values from the footwall were not included in the above overall average.

"These are exciting numbers and they provide us with a great deal of confidence in our internal grade estimates as we move to production", said A. John Carter, SBMI's CEO. "As any responsible producer would, we will continuously sample and assay as we proceed."

Readers are cautioned that the 44 samples are selective grab samples and may not be representative of all the material at the Buckeye Silver Mine. The reader is further advised that these preliminary assay values do not represent a reserve or resource at this time. While significant silver values have been encountered, the quantity, grade, or metal or mineral content of a deposit has not been categorized as an inferred mineral resource, an indicated mineral resource, a measured mineral resource, a probable mineral resource, reserve or a proven mineral reserve.

119107_5c5a111824ed5b6e_002full.jpg

As it moves into production, SBMI will assay on a daily basis to better enable it to determine the production head grade of the feed material. SBMI does not intend to report all assays taken daily.

In light of the high-grade values in the assays, the Company has engaged Montana Technical University to help SBMI optimize an efficient recovery process flow sheet. The capital expenditures being made to the mill, funded by the recently-completed oversubscribed financing, will also assist in improving recoveries.

The mill, on permitted patented lands owned by SBMI, is close to completion. Electrical, piping and small fabrication items remain to be completed before commencement of an anticipated two-week trial period. During this two-week trial period SBMI will move roughly 1,500 tons of the lower-grade ore to the mill.

SBMI will move its two boom jumbo and mucker to the Buckeye Silver Mine in anticipation of completion of ongoing development and commencement of mining.

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

QA/QC

No standards, duplicates or blanks were used or the above 44 samples although management intends to include such checks in future assay programs. Management also intends occasionally send samples to an ISO-certified third party lab for confirmation of SBMI's owns lab equipment and processes.

The samples analyzed by SBMI at its facility near Globe, Arizona 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 Qualified Person for this press release is Mr. Robert G. Komarechka, P.Geo., an independent consultant, who has reviewed and verified SBMI's work referred to herein. Mr. Robert G. Komarechka, P.Geo. co-authored the NI43-101 compliant report on this property, delivered to the Company in January, 2021.

Finally, due to a typo, the Company under-reported the number of broker warrants issued as part of its recent financing. The correct number is 179,130.

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.

March 30, 2022
 

Silver Bullet Mines Corp. Closing of Oversubscribed Financing

March 30, 2022 - Burlington, Ontario – 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.

March 25, 2022
 

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

March 25, 2022 - Burlington, Ontario –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.

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.

March 15, 2022
 

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

March 15, 2022 - Burlington, Ontario –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.)

SBMI Press release Mar. 15, 2022.jpg

Historical Adit at the Washington Mine in Idaho

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 on SBMI, 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.

March 11, 2022
 

Silver Bullet Mines Corp. Second Tranche of Successful Financing

Burlington, Ontario--(Newsfile Corp. - March 11, 2022) - Silver Bullet Mines Corp. (TSXV: SBMI) ('SBMI' or 'the Company') announces it today has closed on $810,075 in its previously announced financing, bringing the total raised to date to $1,574,075.

This tranche represents 2,205,188 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.

This is the second tranche of Units on which SBMI has closed. The first tranche of $764,000 was announced February 18, 2022. SBMI has further subscription agreements in hand which means SBMI will close on at least one further tranche before March 26, 2022.

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

"This financing is a success for the company and the shareholders," said A. John Carter, SBMI's CEO. "Our original minimum target was $500,000 and the investors blew that number away. The funds raised in this financing have been budgeted to be more than enough to put the Buckeye Mine into production, to complete our mill, and to advance the Washington Mine to where it can be ready for mineral extraction."

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 on SBMI, 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.

March 10, 2022
 

Silver Bullet Mines Corp. Is First Mining Company in the Metaverse

Burlington, Ontario--(Newsfile Corp. - March 10, 2022) - Silver Bullet Mines Corp. (TSXV: SBMI) ('SBMI' or 'the Company') announces its presence in the Metaverse, allowing users to learn about SBMI while enjoying a rich fun immersive experience. To the best of its research, SBMI is the first mining company to be there.

"We are always looking for ways to enrich our communications with the shareholders," said A. John Carter, SBMI's CEO. "Being first in the metaverse allows us to engage differently with a larger demographic."

SBMI's three worlds can be found here:

https://www.oculus.com/vr/4926980984085649/

https://www.oculus.com/vr/4904122299682803/

https://www.oculus.com/vr/4865898440129797/

In October 2021, Facebook Inc. changed its name to Meta, to reflect its commitment to this environment. Quoting from Meta's October 28, 2021 press release, "Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology."

 

To access the metaverse a user must currently use smart glasses or a headset and hand controls to walk, pick up things, push buttons and carry out other virtual actions. Facebook's parent company, Meta, has advised that it intends to soon release a version of its world-building software that will not require a headset or smart glasses. This will expand the metaverse's reach, and SBMI's worlds, to all internet users around the globe.

SBMI's worlds were designed and built by Shaxon Enterprises Inc. of Burlington, Ontario. According to Donald Shaxon, CEO, "I'm impressed with SBMI's forward thinking. They have staked an early claim to the next real means of communication. To me, a parallel can be drawn to the mid-1990s after HTML was formally published and Marc Andreeson then used it to co-create Mosaic, the first user-friendly web browser. Then the web exploded. That's where we are in the metaverse."

It was SBMI's intention that its worlds be released in conjunction with the world-famous PDAC (aka "The Mining Show") in early March, 2022. However, that conference has been moved to June, 2022 due to health and safety protocols. SBMI has decided to go live with its worlds now instead of waiting.

As SBMI's advances its mining projects, its worlds will be updated to integrate those advances.

 

For further information on SBMI, 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

For further information on Shaxon Enterprises Inc., please contact:


Donald Shaxon
don@shaxon.ca
+1 (289) 697-8625

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.

March 1, 2022
 

Silver Bullet Mines Corp. Breaks into the Treasure Room and Reports Assay Results

 

March 1, 2022 - Burlington, Ontario –Silver Bullet Mines Corp. (TSXV:SBMI) (‘SBMI’ or ‘the Company’) provides an update on the timetable for production at its Buckeye Silver Mine near Globe, Arizona and reports assay results.

SBMI’s initial target at the Buckeye has been the high-grade polymetallic drift identified in 1976 by K.C. Delise, in a Mine Shaft Survey dated October 23, 1976 prepared by him for International Resources and Minerals Development Company. He identified this zone as extending approximately 500 feet along strike. He called this area the “Treasure Room”.

SBMI is pleased to announce its field team has blasted through into the Treasure Room, in exactly the location mapped by Mr. Delise. A video of the Treasure Room was taken by SBMI’s field team and can be seen at www.silverbulletmines.com.

“The Treasure Room is one of the most beautiful things I’ve ever seen”, said Ron Murphy, SBMI’s VP, Mining. “I’m not exaggerating. This is where prior mining in 1873 ended when a cave-in took place. Now, with us having blasted in, I can see multiple adits and drifts like a honeycomb.”

The Treasure Room cannot be entered and no samples from the visible veins can be taken until timbering and other structural safety measures are taken. The Company estimates that will take three weeks to complete this work.

Although the Treasure Room itself cannot be entered at this time, samples were taken from what appears to be waste rock on the floor of the Treasure Room near the entranceway. Because SBMI has its own assay lab, those samples were run and returned values within 24 hours.

 

SBMI reports on those assay results as follows:

Chart March 1, 2022.jpg

Readers are cautioned the sampling results presented above are based on in-house analysis and are not yet verified by a third party independent and accredited laboratory. The Company intends to send samples from the mineralized vein material to such a laboratory as the workings are developed to confirm and verify the grades as the development is advanced. These results will be reported when available. These results are thus preliminary in nature and are used by management to direct its ongoing exploration and development programs at the Buckeye Mine.

 

“These results are both comforting and highly encouraging,” said A. John Carter, SBMI’s CEO. “They show the accuracy of the historical record and they indicate this is a richly mineralized zone. This is how real value is created for the shareholders.”

As SBMI reported on January 27, 2022, Mr. Delise’s assays from this same area dating from 1976 and 1977 returned spectacularly high values for gold, silver and copper. The highest value for gold was 4.8 oz/ton, for silver was 8,970 oz/ton, and for copper was 30.7%.

In addition to the Treasure Room samples, SBMI’s assay lab is currently processing samples taken from the material stockpiled by SBMI at the millsite. It is expected these samples will be low grade. These assay results will be very important to SBMI because this material will be the initial mill feed. Having the assay results in hand will enable SBMI to calculate potential recovery rates in anticipation of being in continuous pilot plant production with higher-grade material.

At the mill site, assembly and installation continue. Over the past week, the field team installed the grizzly, aligned the ball mill with the feed chute, finetuned the ball mill gear and pinion for maximum efficiency, and built a ramp and a retaining wall. Pictures of the assembly process are available at the Company’s website www.silverbulletmines.com and in its Twitter feed @BulletMines.

Management believes the mill will be ready for the initial test feed within four weeks, to be followed by a two-week test period. It is during this period that the low-grade material referred to above will be processed. Assuming no adverse results, the mill will then be put into production at full capacity, which is nameplated for 125 tonnes per day.

QA/QC at SBMI’s Facility

The samples analyzed by SBMI at its facility near Globe, Arizona 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 degrees 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. All sample pulps are retained in secured storage for future independent verification of the Company’s sampling and analysis procedures.

The Qualified Person for this press release is Mr. Ron Wortel, P.Eng., who oversaw all of SBMI’s work referred to herein. Mr. Wortel is also President and a director 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 viruses create risks that at this time are immeasurable and impossible to define.

February 22, 2022
 

SILVER BULLET MINES CORP. SUCCESSFUL FINANCING - Closing First Tranche - $764,000

 

February 22, 2022 - Burlington, Ontario –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 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.

February 16, 2022
 

SILVER BULLET MINES CORP. SUCCESSFUL FINANCING

 

Burlington, Ontario--(Newsfile Corp. - February 16, 2022) - Silver Bullet Mines Corp. (TSXV: SBMI) ('SBMI' or 'the Company') announced its intention to carry out an accretive non-brokered financing of Units. Each Unit is priced at $0.40 (forty cents) and comprises 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.

The Financing has received conditional approval from the TSX Venture Exchange. SBMI will begin closing on the Financing and will continue to close on the Financing in tranches over the next couple of weeks.

"The shareholders see the increased cost of almost everything since the pandemic started," said A. John Carter, SBMI's CEO. "Just go gas up your car or pick up a week's worth of groceries to feel it. We've had a similar experience at an operational level. Re-stocking the treasury is a prudent thing to do."

The February 9, 2022 release provided the minimum amount to be raised would be $500,000 (five hundred thousand dollars). To date the Company has subscription agreements representing more than $900,000, and based upon conversations between management and the investing public, expects further capital to be committed to SBMI as part of the Financing. 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.

The February 9, 2022 release also announced SBMI had two lead orders on the Financing, one for CDN$180,000 and the other for USD$200,000. One of those orders has been upsized to CDN$200,000.

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 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.

February 14, 2022
 

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

 

February 14, 2022 - Burlington, Ontario –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.

February 9, 2022
 

Silver Bullet Mines Corp. Announces Financing With 2 Lead Orders

 

February 9, 2022 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI) (‘SBMI’ or ‘the Company’) announces its intention to carry out an accretive non-brokered financing of Units. Each Unit will be priced at $0.40 (forty cents) per Unit and will comprise 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”). Readers are reminded the Qualifying Transaction that resulted in SBMI being a reporting issuer in December, 2021 was carried out at $0.30 per share.

“As we’ve disclosed many times, the global supply chain has been problematic for us,” said Mr. A. John Carter, SBMI’s CEO. “Unavoidable third-party delays, especially through the port of Long Beach, caused the Company to consume working capital that otherwise would not have been consumed. Further, with the passage of time, we have experienced pandemic-related increases in the cost of parts, logistics, fuel and supplies. All of this has put stress on the treasury. While SBMI continues to have considerable cash in its account, effecting a financing now is a combination of insurance and ensuring SBMI can execute on its revised 2022 plans in both Arizona and better-than-expected Idaho. It’s the responsible thing to do.”

The minimum and maximum gross proceeds from the Financing will be $500,000 (five hundred thousand dollars) and $2,000,000 (two million dollars), respectively. The minimum and maximum number of Units to issue as a result of the Financing are 1,250,000 and 5,000,000, respectively. Units will be allocated on a first come, first served basis although SBMI retains the right to accept or reject subscription agreements in its sole discretion.

SBMI has two lead orders on the Financing, one for CDN$180,000 and the other for USD$200,000, from two existing shareholders who are accredited investors, who each committed to participating in the Financing without knowing its terms. Other existing shareholders have also expressed an interest in participating in the Financing without knowing its terms.

Net proceeds from the Financing, assuming the minimum, will be used to fund operations in Arizona until the Buckeye Silver Mine begins generating revenue, most likely in May, 2022 (see SBMI press release dated February 7, 2022 for details on the timing of revenue generation). Net proceeds from the Financing, assuming the maximum, will be used to fund and expand operations in Arizona until the Buckeye Silver Mine begins generating revenue (up to approximately $800,000), to fund development of the Washington Mine in Idaho (up to approximately $500,000), and to fund exploration and development of the McMorris Mine in Arizona (up to approximately $500,000). In either case some of the proceeds will fund costs related to the Financing, working capital and overhead. The amount of costs related to the Financing will vary depending upon the amount paid as referral fees, which is unknown as this time.

SBMI purchased the Washington Mine in Idaho in December, 2020. The Company expected to warehouse that property until after the Buckeye Silver Mine began generating revenue so minimal allocation was made for it in SBMI’s 2021 or 2022 budget. However, preliminary work at the Washington Mine revealed it could be capable of near-term revenue generation, resulting in the January 18, 2022 press release disclosing the assay results from a blended bulk sample of 55.5 oz/t silver. Management wants to accelerate work at the Washington Mine which will require some of the capital being raised in the Financing.

Customary prospectus exemptions will be relied upon for the Financing, including the “Accredited Investor” exemption and the “Distributions to Existing Security Holders” exemption pursuant to section 2.9 of Ontario Securities Commission Rule 45-501 (the ‘Existing Securityholder Exemption’). Management believes this to be a democratic means of effecting the Financing.

Investors subscribing for Units under the Existing Securityholder Exemption must meet certain conditions set out in Rule 45-501. The Company has set Monday, February 7, 2022 as the record date. Subscribers purchasing Units under the Existing Shareholder Exemption will need to represent in writing that they meet certain requirements of the Existing Shareholder Exemption, including that they were, on such record date, a common shareholder of the Company and still are a shareholder as at the closing date. The aggregate acquisition cost to a subscriber under the Existing Shareholder Exemption cannot exceed $15,000 in the 12-month period immediately preceding the closing of the Financing, unless that subscriber has obtained advice from a registered investment dealer regarding the suitability of the investment. There is no minimum subscription amount. Any SBMI shareholder can subscribe, subject to the conditions above and in the subscription agreement.

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. The Financing is subject to regulatory 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 viruses create risks that at this time are immeasurable and impossible to define.

February 7, 2022
 

Silver Bullet Mines Corp. Sets Timetable for Silver Production

 

February 7, 2022 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI) (‘SBMI’ or ‘the Company’) announces the arrival of its third and final shipping container at its millsite near Globe, Arizona.

The container finally cleared through the port of Long Beach and its contents were delivered to the millsite this past weekend. This container holds the motor and drive train for the ball mill, which are the final major components required to complete construction. The Company will now be able to locally acquire further minor parts as needed as Globe is a ‘mining town’ home to various mining supply stores.

Feb 7, - picture - press release.jpg

The picture above is a recent one from the millsite showing one of the four conveyors being installed. The actual ball mill is the large steel object to the middle left.

“This is a tremendously important milestone for the shareholders,” said A. John Carter, SBMI’s CEO. “The delivery of the motor and drive train was the only major factor beyond our control. It’s been painful to see costs increase while we had to wait for these items. Now, it should take between 30 and 40 days to complete construction, following which the field team will run roughly two weeks’ worth of low-grade material to fine-tune the components. Then we intend to start processing the higher-grade material from our nearby Buckeye Silver Mine.”

In anticipation of the mill’s imminent completion SBMI stockpiled at the millsite mineralized material extracted from the Buckeye Silver Mine. Like any responsible producer SBMI has its own assay lab, at which it will run daily assays for grade control, cost control and immediacy of results.

Once in production SBMI intends to produce silver dore bars, to be sold to a smelter or a commodities trader. SBMI is in discussions with several such groups in anticipation of having saleable product in April, 2022, which means the Company anticipates being in receipt of cash payments soon thereafter. Those cash payments will buttress SBMI’s treasury, which since the start of the pandemic has suffered through escalating costs of shipping, parts, supplies, fuel, services and equipment.

“Getting into production logically leads to risk-mitigating cash flow into the Company,” said Mr. Carter. “Then we can turn our efforts to the Washington Mine in Idaho and the McMorris Mine in Arizona, both former producers. The Washington Mine seems to be even better than we expected, as shown by the recent bulk sample results returning 55.5 oz/t silver.”

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.

January 27, 2022

Silver Bullet Mines Corp. Commences Extraction of Mineralized Material at its Buckeye Silver Mine in Arizona

 

January 27, 2022 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI) (‘SBMI’ or ‘the Company’) announces it has begun extracting mineralized material from its Buckeye Silver Mine in Arizona after taking delivery of its first shipment of blasting powder. SBMI’s intention is to produce an initial total of 10,000 tonnes of mineralized material at a rate of 125 tonnes per day.

SBMI also announces it has been invited by the TMX Group to ring the bell at market open on Monday, January 31st at 9:30 am Eastern Standard Time, a rare honour for a new junior mining company.

Jan 26 - blasting 2.jpg

SBMI’s initial target is the high-grade silver zone identified in 1976 by K.C. Delise, a Registered Geologist, in a report titled Surface/Underground Mapping and Sampling. Accompanying the report was a Mine Shaft Survey dated October 23, 1976 prepared by him for International Resources and Minerals Development Company. In his report he mapped and identified this zone as extending approximately 500 feet along strike.

The Company has found a summary of assay results from 1976 and 1977 from Clarkson Labs of San Diego, CA. SBMI believes these resulted from samples taken by Delise in his 1976 field work at the Buckeye. These assays returned spectacularly high values for gold, silver and copper. The highest value for gold was 4.8 opt, for silver was 8,970 opt, and for copper was 30.7%.

This information is historical in nature and pre-dates NI43-101. 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.

Nick Barr, one of SBMI’s consulting geologists, carried out his own analysis of Delise’s work in 2015, as part of which he produced notes, sections and longitudinals. He also plotted the 1976 Clarkson Labs assay results noted above onto Mr. Delise’s original Mining Shaft Survey. In addition to Delise’s and other historical records, SBMI is also relying upon these documents created by Mr. Barr as well as his current first-hand experience at the Buckeye.

“This is a significant accomplishment”, said SBMI’s VP Mining, Mr. Ron Murphy. “We have completed the rehabilitation of the underground and have commenced mining as we blast into what we believe to be Delise’s documented high-grade zone. The training, experience and talent of our seasoned mining crew has allowed us to achieve these goals in a short period of time.”

The mineralized material blasted and extracted from the Buckeye will be stockpiled at SBMI’s proximate millsite for eventual processing at SBMI’s gravity pilot plant, which is nearing completion. The Company also plans to run assays in its own assay facility on-site on multiple samples from the mineralized material to determine grades.

As previously disclosed, SBMI’s assay lab on-site in Arizona is managed by Robert Budd, a Metallurgical Process Engineer who began his career in metallurgical engineering in 1972. He has held various positions with various employers including Senior Engineer, Superintendent, Engineer, Technical Assistant, Technician, and Lab Assistant. Most recently, prior to joining SBMI he was involved in designing and creating an internal assay facility in Arizona for Freeport McMorran Inc. Working with Mr. Budd in SBMI’s assay facility is Vic Power, a Registered Professional Assayer for the state of Arizona. Mr. Budd and Mr. Power will ensure all QA/QC practices will be adhered to, including sending samples from each run to an independent accredited lab for corroboration.

It is intended the state-of-the-art gravity pilot plant should be ready to commence the processing of mineralized material in approximately sixty days, depending on the timing of delivery of certain mill items. Such deliveries are beyond SBMI’s control. The progress of both the mine and mill can be followed at www.silverbulletmines.com or on Twitter @bulletmines.

“Having our own assay lab and mill should make us incredibly efficient,” said Mr. John Carter, SBMI’s CEO who also designed the gravity pilot plant. “We will be able to have assay results back in less than a day, which will empower us to select mineralization within our target ranges to process.”

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.

January 18, 2022

Peter Clausi, VP Capital Markets, interview with Caroline Egan of The Market Herald  

Picture1 Clausi.png

January 18, 2022
 

Silver Bullet Mines Corp. Assays 55.5 Oz/Ton Silver from a Bulk Sample at its 100%-Owned Washington Mine in Idaho

 

January 18, 2022 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI) (‘SBMI’ or ‘the Company’) is pleased to report excellent assay results from a bulk sample from its Washington Mine in Idaho (the ‘Property’). The assay results from SBMI’s own assay lab on site have been corroborated by a third-party accredited lab.

“The importance of these results cannot be overstated,” said A. John Carter, the Company’s CEO. “These results support three important conclusions. First, they are in line with historical data, which increases our comfort level with using that data for guidance. Second, they show the Property is still mineralized with silver and gold. Third, and I think most importantly, it confirms that QA/QC processes both in our own lab and at the third-party lab return very similar results. This further validates our lab.”

The results are below. Lines 1, 2, 3 and 4 were processed in SBMI’s lab in Arizona. Line 5 was processed by Paragon Geochemical, a third-party lab. These values are in oz/ton silver.

sbmi chart Jan 18, 2022 Cropped_edited_e

Paragon also assayed for gold, which across the four quarters returned 1.82g/t, 2.49g/t, 1.77g/t, and 1.4g/t respectively. SBMI did not assay for gold.

As indicated above the SBMI average across all quarters was 55.5 oz/ton silver. This equates to over 1,902 g/t silver at a conversion rate of 34.285.  SBMI collected the bulk sample from eight locations at the Property. The material from each of the eight locations was blended into an 80-kilogram bulk sample, with the result being crushed and quartered. Five kilograms of material was removed from each quarter and processed by SBMI as sixteen assays in total. Five kilograms of material was removed from each quarter and processed by Paragon as four assays.

The Company intends to send the fourth quarter of the bulk sample for ore characterization and metallurgical testing to Montana Technical University, Centre for Advanced Mineral Processing. The remaining parts of the bulk sample including the pulps and rejects have been retained by SBMI as part of its QA/QC practices.

SBMI’s assay lab on-site in Arizona is managed by Robert Budd, a Metallurgical Process Engineer who began his career in metallurgical engineering in 1972. He has held various positions with various employers including Senior Engineer, Superintendent, Engineer, Technical Assistant, Technician, and Lab Assistant. Most recently, prior to joining SBMI he was involved in designing and creating an internal assay facility in Arizona for Freeport McMorran Inc. He has also been the Chief Metallurgist for Northern Sphere Mining Corporation in Arizona, the Principal Process Specialist for Fluor Canada out of Vancouver, the Senior Metallurgical Engineer for Doe Run Lead, the Project Engineer for the commissioning of a copper concentrator start-up at Oz Minerals’ Prominent Hill Mine in South Australia, Senior Metallurgical Engineer for Cyprus Miami/Phelps Dodge Miami in Arizona, Metallurgical Engineer and Metallurgical Lab Supervisor for Newmont Gold in Nevada, and Chief Metallurgist for Inspiration/Cyprus Miami in Arizona among other positions.

Working with Mr. Budd in SBMI’s assay facility is Vic Power, a Registered Professional Assayer for the state of Arizona.

“We have an extremely high level of confidence in our team and in the accuracy of our assays”, said Mr. Carter. “Today’s results only add to that confidence.” SBMI’s management believes these assays confirm the tenor and range of grades reported historically from the silver veins, but cautions they may not be representative of the average grade of mineralization within the full width or extent of any of the muck piles or mineralized structures present on the Property.

 

The next steps at the Property are to continue sampling, to take the steps necessary to go underground for visual inspection and sampling, and then to take a larger bulk sample. As the Property is on patented lands the process of permitting required to re-open the Washington Mine is more streamlined. SBMI is in discussions with third parties for the purchase of the resulting ore and/or concentrate and has identified potential mill facilities near the Property. SBMI is also considering whether to ship larger samples from the Washington Mine to SBMI’s assay facility in Arizona.

Meanwhile, in Arizona, SBMI continues to advance work at the mill site and mine site at its massive Black Diamond property, which hosts among others the Buckeye Silver Mine. SBMI has been advised it has been moved up the list for the unloading of its shipping container at Long Beach, but cannot provide a firm date upon which such unloading will take place. Assuming it takes place in the next two weeks, SBMI is still on a timeline for pilot production at the Buckeye Silver Mine by the end of this quarter.

QA/QC at SBMI’s Facility

The samples analyzed by SBMI at its facility near Globe, Arizona 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. 

QA/QC at Paragon

The samples reported above were collected by the Company’s project geologist and then bagged, labeled, securely stored and sent to Paragon Geochemical in Sparks, Nevada following the Company’s standard QA/QC protocols and the use of independent testing labs. Silver and gold values were determined using fire assay with gravimetric finish using SOP-230. Paragon Geochemical is an IAS accredited full service geochemical laboratory in compliance with ISO/IEC Standard 17025:2017. It also holds a Certificate of Registration for its Quality Management System under ISO 9001:2015 for the testing of metal content in metal and mineral samples for mining companies.

The Qualified Person for this press release is Mr. Ron Wortel, P.Eng., who oversaw all of SBMI’s work referred to herein. Mr. Wortel is also President and a director 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 viruses create risks that at this time are immeasurable and impossible to define.

January 13, 2022

Interview with Maurice Jackson of Proven and Probable

My Post Copy 11 (1).png

January 12, 2022
 

StockHouse Editorial 

Please see below article written by Stockhouse not Silver Bullet.   Silver Bullet  neither condones nor condemns any part of it .

Real High-Grade Silver in the Shadow of the Headframe

In mining terms, a place you are likely to dig up the best results is known as “the shadow of headframes” - next to established mines, and it is a phrase that Canadian-based Silver Bullet Mines Corp. (TSXV:SBMIForum) has taken as its mantra as it reboots several former producing silver mines in Arizona.
Its flagship project is the Black Diamond, close to 20.2 sq. km. (5,000 acres) in the renowned Miami-Globe copper camp.
Silver Bullet has five former producers on its massive Black Diamond property in Arizona, which state was named the world’s second-best mining jurisdiction in 2020 by the Fraser Institute. The company is on path to have one of those former producers in pilot production this quarter. That one should be its Buckeye Silver Mine near Globe, Arizona, about 120 km east of Phoenix.
Black Diamond is centred on the Richmond Basin. The Richmond Basin is host to original 1870s native silver discoveries that first brought prospectors to the camp. The company’s name was inspired by a local legend - one of the first scouting parties to the area were shot at by the local Indigenous people using bullets made from silver.

Black Diamond also hosts the following former producers:

· McMorris Mine – 213 metre (700 ft.) shaft
· McClellan Mine – 76 metre (250 ft) shaft
· Silver Sevens Mine - multiple adits
· La Plata Mine - multiple adits


The McMorris Mine constitutes 21% of the surface area of the company’s property and has produced approximately 500,000 ounces at 250 oz/ton in direct shipping ore until 1893. Using $7/oz silver and $450/oz gold, a geologist in 1987 calculated the gross economic value of McMorris at USD$480M (Arturo, “Progress Report, Mc Morris Mine and Richmond Basin Areas”, 1987). (This of course pre-dates NI43-101.)
Since the early 20th century, very little silver was produced from the area, as the camp was then focused on large copper mines. However, what anchors this section is a series of mines located in what is known as the Arizona Silver Belt, which extends from the Silver King near Superior, AZ and parallels the trend of the major copper deposits including the Magma Mine.
The team leading Silver Bullet Mines believe that in addition to the known mineralization at the Buckeye, the high-grade silver is still there waiting at the other sites for discovery.

A silver property next to the Black Diamond Project was optioned by third parties in 2020 for roughly USD$9.5M, and is roughly 20% the size of Black Diamond.

Pilot plant:

As a proof of concept, from 5 tons of ore from the Buckeye Mine, Silver Bullet recently produced 500 ounces of silver. Now the company is installing a modular mill on its 65-acre mining patented property less than a kilometre from the Buckeye Mine site.

The mill consists of three main expandable and transportable modules: crushing; grinding; and, gravity.

The plant is roughly 90% complete, as the company waits for a shipping container to pass through the Long Beach supply chain. The plant has a maximum daily processing capability of 125 tons of feed material. This plant will replace the current pilot plant and should give Silver Bullet the capacity to handle larger bulk samples.


SBMI owns almost all its equipment at the Buckeye and the mill site, including an LDF, a 2boom jumbo, and a large bobcat, which reduces cash-draining debt going forward. SBMI also has its own assay lab that should enable the team to determine sample mineralization grade on a continuous basis and to confirm recoveries. Owning its own mill, assay lab and equipment gives Silver Bullet tremendous control over its costs.

In anticipation of potential Q1 pilot silver production, roughly 1,000 tonnes of ore has been stockpiled at the Buckeye.

Financing & risk mitigation:

Silver Bullet valued its entire project at $8.8 million for the purposes of the financing and RTO, which is one of the reasons the team was able to raise as much money as it had in a relatively brief amount of time. In an interview with Stockhouse Editorial, Silver Bullet Mines’ executives explained that the team intentionally structured the investment to be incredibly enticing to retail investors, to provide a significant upside.

The agreement between Silver Bullet Mines and Pinehurst Capital 1 called for Silver Bullet to raise a minimum of CDN$3M. By the time Silver Bullet listed its shares in December, 2021, it had raised over $6.1M.

Achieving pilot production should provided near-term cash flow, which also provides significant risk mitigation around the project. This puts Silver Bullet in the “PreProduction Sweet Spot”, where risks are greatly mitigated but the upside appears large.

Future outlook:

The silver market has had a noteworthy run in 2021. The company remains bullish on where the commodity is headed.

The company has been clear about its plans, which are:


1. Put the Buckeye Silver Mine in pilot production in Q1/22, followed by full-scale production;
2. Finalize plans to have the McMorris Silver Mine back in production within 24 months;
3. Carry out exploration programs elsewhere on Black Diamond to enable a decision on the order in which the remaining former producers will be put back in production;
4. Investigate the waste rock on surface at the Washington Mine in Idaho; and
5. Defend the treasury.

Investment conclusion:

The demand for silver is expected to see continued strength throughout 2021, with the global total forecast projected to reach a six-year high this year of over 1 billion ounces. This demand should continue as silver is essential to the Green Revolution. It is a key part of solar panels, and is a prime conductor necessary for electronics and electric vehicles.

This company has a tight share structure. There are 55M shares issued and outstanding with roughly 29M in a staggered release escrow. Insiders own roughly 30% of the company. No options were granted at less than the financing price.

The Silver Bullet Mines story is a concise one that spells out a lot of potential for investors – a solid plan for past-producing silver mines.

 

January 5, 2022
 

Silver Bullet Mines Corp. Provides Pilot Plant Construction Update

January 5, 2022 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI) (‘SBMI’ or ‘the Company’) is very pleased to provide an update on the construction of its modular pilot plant in Arizona.

The plant is wholly-owned by SBMI and is intended upon completion to process up to 125 metric tonnes of material per day. It is of modular design capable of being expanded in size and modified as required.  The plant is being constructed on SBMI-owned private property approximately 8 miles from Globe, Arizona and in proximity to its Buckeye Silver Mine. As per the flow chart below, the plant is state of the art.

0000-PFD-001-1 SEPRO STYLE-REV_X.jpg

“The leadership team at SBMI has a substantial equity position so we like all shareholders are thrilled to see the plant be built as designed,” said A. John Carter, the Company’s CEO. “Despite ongoing supply chain issues and exorbitant material and transportation cost increases, we remain on track to start commissioning in the first quarter of 2022. In anticipation of that commissioning, the Company has approximately 1000 tonnes of material already stockpiled for feed.”

The plant consists of a coarse ore feed bin, a fine ore bin, two stage crushing and screening, and a variable speed computer-controlled feed belt that leads to a grinding circuit. The grinding circuit is a ball mill in closed circuit with a bank of cyclones. The plan is for product from the ball mill to be pumped directly to a pair of Falcon concentrators. The product from the concentrators is then fed by gravity to a full size Diester concentrating table. Tailings from the Falcons and from the table are returned to the grinding circuit.

The cyclones then split the feed with the oversize material going back to the ball mill and the undersize material going to the tailings thickener. Processed material of the appropriate size is then sent to the bullion furnace where dore bars are poured. All tailings are dewatered and all available water is recycled.

jan 3 - 01.jpg

The ball mill as installed, on the mill pad poured by SBMI for this purpose.

The plant is designed to maximize the recovery of both gold and silver, although its modular nature means it can be adjusted to recover other metals.

Currently over 90% of the necessary equipment is onsite and being assembled (go to www.silverbulletmines.com to see pictures of the plant being built, or follow on Twitter @BulletMines). The remainder is in a container in Long Beach, California waiting to be off-loaded, on a timeline beyond the Company’s control. Some small items are to be purchased as required.

pics dec 30 -1.jpg

Overview of SBMI’s mill site, showing the fine and coarse ore bins on the right, the ball mill in the middle, and assorted equipment to the left.

In addition to owning its own processing plant, SBMI owns an on-site assay facility which can provide assay results in less than a day. It also owns its own 2-boom jumbo, LHD (load-haul-dump), large Bobcat, and various other equipment. Owning all this equipment will allow the Company to process feed material quickly, efficiently and economically, as well as to generate revenue, without debt payments draining cash. The Company is in discussions with various groups concerning the purchase of both the dore and the concentrates.

Finally, SBMI announces it does not intend to spend capital on a third party resource estimate or Preliminary Economic Analysis for the Buckeye Silver Mine. In the Company’s opinion, given the nature of the known mineralization, the extensive historical third-party documentation, and the leadership team’s direct experience at Buckeye, a third party resource estimate or PEA would be prohibitively expensive to have written without actually advancing the Company’s knowledge of the Buckeye. “This is old school mining,” continued Mr. Carter, “and for this project it’s the right way. Producing from 6-foot wide silver veins is not your standard mining opportunity, which means it requires a non-standard approach. Here, we believe the right approach is to carry out our own internal economic analysis.”

The next major events at Buckeye will be the arrival on-site of the third container through the Long Beach supply chain, and the delivery of assay results from a third party accredited lab on one-quarter of the 150 pound bulk sample announced December 15, 2021. The Company has no direct control over the timing of either of those events but does continue to work with its suppliers to expedite them a much as possible.

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.

Update, December 31, 2021 - John Carter, CEO

 

We trust everyone is having a great holiday season all things considered !

 

I thought this would be a good opportunity to give everybody a quick review of the last twelve months and try to show the unbelievable strides we made through a very difficult year. When we started the year we were getting things together we had just closed on our Idaho property. We knew it was a great acquisition with great potential but never imagined how big an asset it could really be.

 

So let's just review the then and now of 2021:

When the year started we were confident and encouraged by the interest in Silver Bullet Mines "SBMI" and the potential success of our financing.  Little did we know we would blow past our initial raise by the time we finally closed in July.  At the time little did we know what lay ahead. 

So with cash in hand and a very tight budget we set off to change the way junior mining is done. We wanted to create our own feasibility study by doing it ourselves. We wanted to build our pilot plant based on a bulk sample we had done and take the next steps forward while generating cashflow. Novel approach for a junior mining company to generate free cashflow thus reducing its dependency on a fickle market , reducing the number of financings required, all the while building a resource. 

The other thing we wanted actually needed to do was take Silver Bullet Mines public on the TSXV. That turned out to be not only time consuming and expensive, but also one of the most frustrating things I have ever been involved in. What was supposed to be done by the end of the first quarter of 2021 took until the fourth quarter. We faced unbelievable delays and problems that had nothing to do with the company. That said we did get it done and commenced trading on Dec. 6th. Next up, we looking into getting a listing in the United States on the OTCQB .

Meanwhile at both sites, Arizona and Idaho, our team focused on the task at hand.  In Arizona that included getting back underground and accessing the ore, building an assay facility to handle all the assays needed to run a successful mining operation. Some said why your own assay facility?  We said all good mining companies have their own facilities we can't wait weeks to get results we need them now.  Of course the most important thing was to get started on the pilot plant itself.  We chose to build a 125 MTPD state of the art high efficiency gravity mill with the best equipment designed to provide high recoveries. 

Step one in the process was to find a site to handle the requirements of a plant that size.  We found and bought a 70 acre site with room to expand and started the process.  Then reality hit ! All our budgets were based on written quotes with a substantial cushion. Well were we ever surprised when material pricing went up in some cases by 300% and higher. Equipment prices doubled. Supply chain issues are being felt by everyone we are no exception. Transportation of containers went from $16,900.00 to $76,000.00. The US put a 25% tariff on equipment that we could not even buy in the US and of course deliveries went from 8-10 weeks to 16-20 weeks.

 

We still have one container sitting in Long Beach harbour that we hope will be offloaded by the end of January 2022 ! This really affected our schedule which was realistically set for Quarter 4 but now is Quarter 1 2022. 

All that said our team has done an incredible job in facing the challenges and overcoming all the hurdles to build our plant and except for the delays we are managing to keep to our revised budgets and have the money to complete the plant.  Check out the Twitter feed @BulletMines. What other junior mining company can tell its shareholders to go there and watch a plant being built?

The Buckeye Mine is faring better our mine team has hit all its targets opened up the underground, has stockpiled approx. 1000 tons of material for feed during commissioning of the mill and is currently waiting to receive our first explosives order ( this week ) so we can start building our  stockpiles.  Quite a feat!  All done to Mine Safety and Health Administration (MSHA) standards we are adamant about safety!!

So on to Idaho I know many of you have heard the story but I think it is worth repeating.  We tried to buy the property in 2016 from the previous owner, price tag $5M and a 5% NSR. We knew the property was worth it but you could never raise that much money with that NSR.  He would not budge.  Fast forward 2020 the gentleman passed away and his family wanted it gone.  They called us and gave us a price and we closed in 10 days no NSR and a lot less money.  We feel it is a great acquisition.  Then we went in to start to confirm up all the history from the documents we had,  things like 3 M ounces silver at 30 to 90 ounces per ton. High grade silver zone and high grade gold, also potential parallel structure. So far we have found nothing to indicate these are not true.  Just look at the assay numbers in our last press release!  We are currently moving towards contract mining and have taken a blended sample that is being analyzed.  All indications are pointing toward success.  

So here we are the end of 2021 can't say I am sorry to see it go but through all the trials and tribulations we persevered and I see nothing but great things for this company in 2022!! It is important to note everything you see we own.  All equipment currently onsite is paid in full even the equipment waiting to be delivered is paid for, even the tariffs.  I know there are guys out there that think we should be doing things differently to them I say watch us grow! To those who have supported us right from the get go I say thank you, you will not be disappointed.  To our shareholders your continuing support is what will make our stock move higher and we thank you!  To our team I say thank you, your optimism, encouragement, support, hard work, and belief in the plan and the company is what is going to make Silver Bullet Mines a leader in the mining industry.

Enjoy your New Years celebration and again thank you!  

John

Dec 15, 2021
 

Silver Bullet Mines Reports 6,174 g/t Silver and 18 g/t Gold at Its Washington Mine in Idaho

Newsfile Dec 15, 2021 8:00 AM EST

 

Burlington, Ontario--(Newsfile Corp. - December 15, 2021) - Silver Bullet Mines Corp. (TSXV: SBMI) ("SBMI" or "the Company") is pleased to announce the first technical disclosure on its work at the Washington Mine on patented lands in the prolific placer gold district in Idaho (the "Property"). Three rounds of sampling were carried out and are reported below.

The results from these rounds provided confirmation of the high grade nature of the Property's mineralization potential; direction for the development of a bulk sampling program; and, discovery of parallel mineralized structures. These sets of results indicate the potential for the development of early production from the site through bulk sampling and for the ongoing discovery and development of additional silver and gold resources.

History

The references below to data and observations derived from work not carried out by SBMI is 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 and to support its thesis for exploration.

The Property first saw production in the late 1800's with an average gold grade of one ounce per ton. It again produced in the 1930's during which 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 process the silver. To the best of SBMI's knowledge, that never happened. A report included an estimate of 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 for the veins identified on the Property at the time. Further work must be carried out to confirm the precise location of those veins and the property boundaries at the time. (Source, "Geological Evaluation", Roger G. Stoker, P.G. and Ryne C. Stoker, Student Geologist, Energy Services Inc., December, 1981.)

In the 1980's the previous owner reopened the underground and produced a bulk sample claimed to be representative of the silver mineralization in the Washington Vein. The bulk sample was sent to Hecla Smelting for processing with the head grade reported to be 44 ounces silver per ton. (Source, Stoker, ibid.)

Finally, Stoker 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.

SBMI's 2021 Work Program - Overview

Following its purchase of the Washington Mine, the Company conducted mapping, sampling and grid soil geochemistry, and prepared staging areas for pending underground rehab and bulk sampling.

Efforts also focused on securing permits, engaging contractors, cutting timber for mine support, and making improvements to the access road. Geologic interpretation of field data is ongoing, and SBMI remains very encouraged with initial findings. Management believes the evidence to date supports historical accounts of previously mined grades and of the presence of strongly mineralized parallel vein structures.

SBMI's 2021 Work Program - Step One

During Covid-19 shutdowns and while waiting for corporate paperwork to be processed, SBMI reassessed the Property's historical data and based upon its conclusions, SBMI assayed samples of mineralized vein material that it had collected in December, 2020. The highlights of those assays are below:

Chart 1crop.jpg

*LDL = Lower Detection Limit as provided by the Certified Assay Lab

The complete table will be posted at SBMI's web site www.silverbulletmines.com. Readers are cautioned that samples are by their nature selective and may not reflect the overall nature of the property. The values above for silver in oz/ton were rounded off to the nearest digit.

Said A. John Carter, SBMI's CEO, "Based in part on the historical records we knew we had a high possibility of success at the Washington Mine. We were pleasantly surprised the values in the samples were as high as they were. Those values required immediate follow-up."

SBMI's Work Program - Step Two

In July of 2021 the Company completed a limited grid soil sampling program of approximately 50 sites on three lines on each side of the Washington Shaft. The program was designed to provide an initial data set for the discovery of potential parallel mineralized structures. The sampling results from the west side of the Washington Shaft did not identify any mineralized structures within the grid.

The samples from the east grid did return significant results in terms of grade and location. The highlights from this limited program included 9.13, 4.58, and 1.06 g/t gold across three lines in near surface soil samples. The Company believes these are very good grades for soil samples and for this limited amount of sampling.

The samples collected by SBMI are located in a zone where the historical reports indicated the location of the "Berger Vein", referenced above in Stoker. The initial results above encouraged the field team to specifically map and sample this mineralized structure. The Company is waiting on the assay results of this targeted sampling program.

SBMI's Work Program - Step Three

The follow-up also involved additional investigations and site work. SBMI carried out a more detailed sampling program, including exposing the vein at surface, opening the adit, sampling across the vein, sampling the historical ore bins in the Washington Shaft, sampling the crushed ore from the south shaft stockpile, and sampling the Weatherby Portal.

This program was extremely successful. Highlights of the assay results from the sampling program are below.

Chart2 crop.jpg

*LDL = Lower Detection Limit as provided by the Certified Assay Lab

The full table will be posted at the company's website.

Continued Mr. Carter, "We were blown away by these results. While we expected strong values from the samples, especially from the crushed rock in the stockpile, we did not expect the ore bin to show over 180 ounces of silver per tonne and over six grams of gold per tonne. These are great numbers for our shareholders."

SBMI also collected a small bulk sample from the available vein mineralization from the Property. This sample was crushed and quartered. One-quarter is out for assay at SBMI's own assay facility in Arizona, one-quarter is out for assay at an independent lab, and one-quarter has been sent for ore characterization. The final quarter is retained by SBMI as part of QA/QC best practices. SBMI will report the results of the bulk sample as soon it receives the results from the independent third-party lab.

SBMI's Work Program - Next Steps

SBMI is currently working with a contract miner on possible plans to reopen the Washington Mine. SBMI received a road upgrade permit from the US Forest Service and a Federal Mine ID number. As the mine is on patented lands the amount of permitting that is required is limited. SBMI is in discussions with third parties for the purchase of the resulting ore and/or concentrate and has identified potential mill facilities near the Property.

Management feels strongly that the Property fits precisely into its business model of high-grade lower risk near-term production, significant resource potential and substantial blue sky.

The Company will be providing a further update in the near future. A more detailed report on the Property can be found on our website www.silverbulletmines.com .

QA/QC

All of the samples taken by SBMI and referred to in this release were processed by Paragon Geochemical of Sparks, Nevada, an independent certified lab. Paragon tests for a 35 element suite using 0.25g 4-acid digestion/ICP-OES. Samples that ran over the detection limit were re-processed using a 30g fire assay and a gravimetric finish.

The Qualified Person for this press release is Mr. Ron Wortel, P.Eng., who oversaw all of SBMI's work referred to herein. Mr. Wortel is also President and a director of the Company.

The Company also announces it has been advised by Mr. Jon Wiesblatt he is resigning from his position as a director of the Company to concentrate on other ventures. The Company thanks Mr. Wiesblatt for his contributions to the growth of the Company as a Capital Pool Company and through to the closing of its Qualifying Transaction.

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 Property; 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.

Dec 6, 2021

Silver Bullet Mines begins trading on the TSX-V  Symbol "SBMI"

rickford-opens-tsx.jpg

Dec 6, 2021
 

Silver Bullet Mines Commences Trading and Provides Updates on Arizona and Idaho

Newsfile Dec 6, 2021 8:00 AM EST

 

Burlington, Ontario--(Newsfile Corp. - December 6, 2021) - Following the closing of its Qualifying Transaction and the listing of its common shares on the TSX Venture Exchange under the symbol SBMI, Silver Bullet Mines Corp. (TSXV: SBMI) ("SBMI" or "the Company") is excited to provide its first operational update.

SBMI's flagship asset is the Black Diamond Project located in the major mining camp of Globe, Arizona. Black Diamond is a massive project, covering 4900 acres and hosting five former producing silver mines. SBMI also owns the George Washington Mine, a former silver and gold producer in Idaho on patented lands.

SBMI's goals are:

  1. Put the Buckeye Silver Mine in pilot production in Q1/22, followed by full-scale production;

  2. Finalize plans to have the McMorris Silver Mine back in production within 24 months;

  3. Carry out exploration programs elsewhere on Black Diamond to enable a decision on the order in which the remaining former producers will be put back in production;

  4. Investigate the waste rock on surface at the George Washington Mine in Idaho; and

  5. Defend the treasury.

"The team has made astonishing progress in mining-friendly Arizona," said A. John Carter, SBMI's CEO. "In a short period of time we have gone from an empty field to having a mill pad and an assay lab. Having our own lab means we can be nimble underground and not waste time waiting for third party labs to get around to processing our samples. Our goal of positive cash flow is closer every day."

Some parts for SBMI's mill have been installed onsite at the Buckeye Silver Mine after navigating through the port of Long Beach. Other parts are still in the supply chain and are beyond SBMI's control for the time being. If those parts are significantly delayed, SBMI can choose to accelerate the program at the George Washington Mine in Idaho. Once finalized, the mill will have the capacity to process 125 tonnes of ore per day.

Concerning that program in Idaho, Mr. Carter continued, "We have taken grab samples from the waste rock at surface and expect assay results shortly. If, as we anticipate, the results justify further investigation, we would expect to process a bulk sample to test historical results and to determine ore characteristics including representative grades of silver and gold."

The Company also plans to investigate Black Diamond's potential to host a copper porphyry, as referenced in the Company's January 8, 2021 Technical Report. The mill is not needed for this task. See page 7 at https://www.silverbulletmines.com/technical-documents for the technical reference to the possible copper porphyry, and see SBMI's new website for site video, photos, maps, historical reports and leadership team biographies at www.silverbulletmines.com.

Because almost all of Black Diamond consists of BLM claims or patented lands owned by SBMI, SBMI does not have expensive annual payments or advanced royalty payments to make. Relative to the large size of the land package, the annual carrying costs are quite small.

SBMI has roughly 55,000,000 shares outstanding of which approximately 29,000,000 are in escrow. Almost all of the outstanding warrants and options have a strike price equal to or greater than the price in the recent over-subscribed financing. The Company has no debt outstanding other than normal trade payables.

SBMI expects to disseminate technical information in the near future, in compliance with NI43-101. It is possible the first technical disclosure will be on the assay results from the surface rock in Idaho.

To introduce itself to individual and institutional investors as well as advisors and analysts, SBMI will be carrying out a real-time, interactive presentation at the Emerging Growth Conference this Wednesday, December 8 at 11:00 am EST. This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with Mr. Peter M. Clausi, SBMI's VP, Capital Markets, in real time.

Mr. Clausi will provide a general overview of SBMI, its capital structure, its achievements in the field, and its plans for the future. The floor will then be open for questions.

Please register here to ensure attendance at the conference and to receive any updates that are released.

https://goto.webcasts.com/starthere.jsp?ei=1512636&tp_key=b542885e5a&sti=silver

If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com.

About the Emerging Growth Conference

The Emerging Growth Conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.

The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts. All sessions are conducted through video webcasts.

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; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the Property; 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.