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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.

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2024

June 24, 2024 -  Silver Bullet Mines Grants Options to Consultants

June 13, 2024 -  Provides Update on Third Party Material and on the Buckeye Silver Mine

May 14, 2024 -  Silver Bullet Mines Announces Closing on its Debenture

May 2, 2024 -  Silver Bullet Mines Commences Processing of Third Party Silver Material

April 8, 2024 -  Announces Strategic Business Alliance and $1 Million Debenture Financing

February 22, 2024 -  Silver Bullet Mines Continues Production at its Arizona Mill

February 5, 2024 -  Silver Bullet Mines Assays 480 Ounces per Ton Silver (14,929 Grams/ Ton) from Vein in New Zone1

January 23, 2024 -  Silver Bullet Receives MSHA Approval

January 9, 2024 -  Silver Bullet Provides Operational Update in Arizona and Announces Second Tranche of Financing

January 3, 2024 -  Silver Bullet Closes First Tranche of Financing

2023

December 11, 2023 - Silver Bullet Proves up Silver in Zone1 with Successful Bulk Sample and Produces 334 ounces per ton (11,451.5 grams/tonne) Silver Concentrate

December 8, 2023 - Silver Bullet Announces Milling Update and Extension of Financing

November 30, 2023 - Silver Bullet Announces John Kontak has Joined the Board, and Provides an update on Continuing Silver Processing

November 27, 2023 - Silver Bullet Announces Assay Results of up to 24.2 oz/ton Silver from Zone1 and the Commencement of Milling

November 1, 2023 - Silver Bullet Mines Announces Potential Third Revenue Stream from Gold Processing

October 30, 2023 - Silver Bullet - Annual Financial Statements and MD&A

October 25, 2023 - Silver Bullet Announces High Grade Silver Results from the Treasure Room, and a Financing

October 11, 2023 - Silver Bullet Announces Interception of Targeted Higher-Grade Silver Zone

September 7, 2023 - Investment and Continuation of Mining in Arizona

July 24, 2023 - Temporary Suspension of Activities

July 7, 2023 - Extension of Silver Purchase Contract

July 6, 2023 - Resignation of John MacKenzie from the Board of Directors

June 15, 2023 - Arizona Operational Update

May 23, 2023 - Update on its Wholly Owned Washington Mine Idaho Property

May 4, 2023 - Silver Bullet Mines Corp. (SBMI) Receives Cash on First Order for Silver from Buckeye Mine in Arizona

April 27, 2023 - SBMI Provides Update on First Order for Silver from Buckeye Mine in Arizona

April 17, 2023 - SBMI Announces Cash Advance on First Order 

March 30, 2023 - Confirms Anomalous Platinum Group Elements (PGE) in Some Samples on its Richmond Basin, Arizona Property 

March 16, 2023 - Processes Gold and Silver From Upper Adit at Buckeye Mine Arizona

March 3, 2023 - Encounters Further Silver Mineralization and Returns to Processing Material at its Mill

February 15, 2023 - Assays 270.6 Ounces Per Ton Silver In Upper Vein At Buckeye Mine In Arizona

January 31, 2023 - Discovers New Sulphide Vein Structures at the Buckeye Mine and a New Gold Occurrence

January 30, 2023 - Silver Bullet Mines Seeks to Extend Warrants

January 17, 2023 - Intercepts Vein in Arizona

2022

December 15, 2022 - Press Release - Resume Development of Buckeye Silver Mine and Update on PGM

December 12, 2022 - Press Release - Overview of Activities

December 8, 2022 - Press Release - Update on Idaho and Arizona Mines

December 6, 2022 - Press Release - Closes Final Tranche of Financing

November 3, 2022 - Press Release - Closes Financing and Samples Diabase

October 28, 2022 - Press Release - Update

October 21, 2022 - Press Release - Financing for High-Grade Gold and PGMs

October 18, 2022 - Press Release - Continues to Assay for High-Grade Gold and PGMs

September 26, 2022 - Press Release - Discovery of Gold and Critical Mineral Palladium

September 1, 2022 - Press Release - Begins Processing of Higher Grade Ore

August 23, 2022 - Press Release  - Update Washington Mine in Idaho

August 15, 2022 - Press Release - Closes Financing

August 11, 2022 - Press Release - Operational Update

July 25, 2022 - Press Release - Assay Results including 2,363.8 oz/t Silver

July 13, 2022 - Press Release - Silver Bullet Mines Corp. Produces Silver

July 5, 2022 - Press Release - Successful Commissioning of its Silver Pilot Plant

June 9, 2022 - Press Release - Commissioning of Silver Bullet Mines Corp.'s Mill Has Begun

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:

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June 24, 2024

Silver Bullet Mines Grants Options to Consultants


June 24, 2024 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) announces the grant of options to certain consultants to the Company. In total, one million eight hundred thousand options were granted, at ten cents per option, each exercisable into one common share. Eight hundred thousand of the options have a five-year term effective May 31, 2024 and one million of the options have a two-year term effective June 13, 2024. All of these options vested immediately upon the date of their respective grants.

For further information, please contact:

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


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


Cautionary and Forward-Looking Statements

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

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

June 13, 2024

Silver Bullet Mines Provides Update on Third Party Material and on the Buckeye Silver Mine

Burlington, Ontario--(Newsfile Corp. - June 13, 2024) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to announce it is nearing completion of the testing of the third party stockpile announced May 2, 2024. A random bulk sample of roughly 350 tons of mineralized material (the "Material") was taken from the stockpile and transported from the third party's past producing silver mine to SBMI's mill in Globe, Arizona for testing.

The nature of the Material is unknown to SBMI. SBMI had to take multiple assays throughout the process and reduce the number of tons per hour of Material processed through the mill (1-1.5 tons per hour). This ensured accurate data on the silver grade recovered and on the grade sent to tailings. As a result it has taken more time to process this Material than the time management expects will be needed to process host rock from the Buckeye Silver Mine.

The Material had been historically crushed by third parties. At SBMI's mill the Material is recrushed, screened, reground, and processed through SBMI's state of the art gravity circuit to produce a silver concentrate. That concentrate is then prepared for the production of silver dore bars.

Upon completion of flux tests SBMI recently poured the first silver dore bar from the Material, of approximately 2551.1 grams (90 ounces) - see photo below. Subsequently an additional 2834.9 grams (100 ounces) silver dore bar has been poured. Management believes these dore bars to be fairly representative of the quality of the Material overall. These bars will be tested by SBMI by XRF prior to shipping.

SBMI June 13 212847_3c8b9c3e1444c99f_001full.jpg

Silver Dore Bar poured from the third party stockpile

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/212847_3c8b9c3e1444c99f_001full.jpg

The Company continues to pour silver dore bars from remaining concentrated Material. The final dore bars from the bulk sample should be completed in the next three weeks or so. Once all bars have been tested SBMI can calculate the gross amount of recovered silver and an average grade, to estimate the economics of proceeding to process the remaining 30,0000 tons of Material at the third party site, or if thought appropriate, negotiate towards an agreement to acquire the past producing silver mine.

Processing the Material demonstrates the Company is capable of handling a wide variety of mineralized material to produce saleable products. This enables SBMI to generate revenue while it advances on the MSHA required work at the Buckeye Silver Mine, showing that the SBMI business plan is working.

Rock bolting continues at the Buckeye Silver Mine, on budget and on schedule. More than 400 feet of rock bolting has been completed to date (see photo below). 'The Hallway' is the zone parallel to the Treasure Room. The Hallway was drifted by SBMI to bypass unsafe conditions in the Treasure Room. The host material in the Hallway is very hard, difficult to drill, and consumes one drill bit for every three holes drilled. The rock bolting team is now out of the Hallway and Management expects the rock bolting to proceed more quickly.

SBMI June 13 212847_3c8b9c3e1444c99f_002full.jpg

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/212847_3c8b9c3e1444c99f_002full.jpg

 

The Company will continue to provide updates on processing the Material into silver dore bars and on the Buckeye Silver Mine.

QA/QC

The Material described above is assayed at multiple stages of the process. The assay results will provide input as to any adjustments that may be necessary to improve production efficiencies.

In accordance with best practices, multiple assays will be sent to third party ISO-accredited labs for multielement analysis including precious metals and PGMs. Readers are cautioned that these samples may not be representative of the Material as a whole, and not all assay results will be disclosed.

 

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

 

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

For further information, please contact:

John Carter


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

Peter M. Clausi


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

Cautionary and Forward-Looking Statements

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

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

May 14, 2024

Silver Bullet Mines Announces Closing on Debenture

Burlington, Ontario--(Newsfile Corp. - May 14, 2024) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to announce it has closed on the Debenture financing announced April 8, 2024.

Please see that press release for the characteristics of the Debenture. The amount closed on is $940,000.

Cash commissions of $6,450 were paid and 53,750 broker warrants were issued in connection with this financing.

The use of proceeds is to continue work at the Buckeye Silver Mine in Arizona, to begin work at the former producing Washington Mine in Idaho, and for working capital.

Work continues at the Buckeye Silver Mine in Arizona to implement the recommendations from MSHA. To date this work has progressed on the expected timeline on the expected budget.

At the mill site, and as per SBMI's press release of May 2, 2024, test processing continues on the material taken from an arm's length party's historical mine site. The Company intends to be able to provide more definitive data on this material in the near future.

In its press release filed at SEDAR+ on February 26, 2024, the Company announced it had reached an extension agreement with the holder of the debenture initially due February 6, 2024, which debenture was extended to June 30, 2024 at a conversion price of $0.10. This extension agreement was dated January 16, 2024 with interest at 11.0% per annum effective January 1, 2024.

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, drout and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

May 02, 2024

Silver Bullet Mines Commences Processing of Third Party Silver Material

May 2, 2024 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce it has commenced test processing of silver mineralized material (the “Material”) through its wholly owned state of the art processing plant in Arizona. The Material has been sourced from a property owned by an arm’s length party, which property hosts a former producing silver mine in Arizona.

The Material has assayed as high as 8 ounces per ton silver over multiple assays carried out by SBMI at the site of the former producing silver mine. Assay protocols for the Material are being drafted.

The Material and this opportunity are in addition to the third party gold processing opportunity announced November 1, 2023. That gold processing opportunity is still being evaluated by SBMI and negotiations with the provider of the gold processing material continue.

Approximately 250 tons of Material has been delivered to SBMI’s mill for processing (see the picture below). SBMI has been advised by the provider of the Material that there are approximately 30,000 tons of Material available for processing.

Initial results from the Material have yielded excellent numbers. Values in the concentrates have run as high as 142 ounces per ton silver. SBMI is currently working on a sampling process to better determine head grade and efficiency of the mill for the Material. The Company plans to continue running the Material to optimize the process flow and maximize recovery.

The cost of turning the Material into silver bars is less than mining mine rock, as the Material has already been mined by third parties and is sitting in a stockpile at surface. It requires only to be loaded and shipped to SBMI’s mill, which is also in Arizona, and then processed. Some of the Material is already partially crushed; therefore, prep time and cost should be less than for a run of mine rock.

Further, the Material has been provided at no charge to SBMI except that SBMI has to incur the cost of trucking the Material to its mill. If this run of processing 250 tons of the Material proves capable of being economic, SBMI would then intend to negotiate an agreement with the third party for this Material and the remaining 30,000 tons.

The Company is also currently evaluating the property hosting the Material as a potential acquisition target. It is located on private property and was a past silver producer, last mined in the early 1900’s. Historical records indicate a silver vein of 35 to 50 foot width and grading 25 ounces per ton silver. There are at least 3 historical shafts and multiple workings. (This work and data pre-date NI43-101. SBMI does not know the methodology used or whether a Qualified Person supervised such work. Readers are cautioned not to rely upon such results until further work is carried out by SBMI, including processing of the Material at its mill.)

This type of acquisition is made possible by the fact SBMI has a complete mill and assay complex that is not only highly efficient but also flexible to handle many types of material. This is an excellent opportunity for SBMI to generate revenue quickly while the Buckeye Silver Mine is completing MSHA requirements and being prepared for mining out of the high grade Zone1. Work is ongoing and the Company is commencing the rock bolting phase of the operation. Much of the other MSHA work has been completed.

 

QA/QC

The Material described above is assayed at multiple stages of the process. The assay results will provide input as to any adjustments that may be necessary to improve production efficiencies.

In accordance with best practices, multiple assays have been and should continue to be sent to third party ISO-accredited labs for multielement analysis including precious metals and PGMs. Readers are cautioned that these samples may not be representative of the Material as a whole, and not all assay results will be disclosed.

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

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, drout and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

April 8, 2024

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

April 8, 2024 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce it is entering into a strategic business agreement (the “Agreement”) with Countryman Investments Limited of British Columbia, Canada (“Countryman”). The Agreement provides that Countryman will provide financial, business development and mining opportunities to the Company. Countryman is an existing SBMI shareholder.
Mr. Dave Richardson, a principal of Countryman, has agreed to join SBMI’s advisory board. Mr. Richardson has a long history in finance and business management, and will assist SBMI in implementing its business plan and expanding its business operations.


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


Each Investor at any time can convert its portion of the Debenture, in whole or in part, into common shares of the Company. The conversion price shall be $0.08 during the first twelve months following issuance of the Debenture, $0.10 during the next twelve months of the term of the Debenture, and $0.12 during the final twelve months of the term of the Debenture (the “Conversion Price”).
SBMI can force conversion of the Debenture, in whole or in part, if SBMI’s closing price for its common shares exceeds $0.25 for a period of ten days. The Debenture can be prepaid by SBMI any time after twelve months from the issuance of the Debenture.


Countryman is a subscriber to the Debenture.


The Debenture is subject to regulatory and board approval.

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


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


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

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

February 22, 2024

Silver Bullet Mines Continues Production at its Arizona Mill

Burlington, Ontario--(Newsfile Corp. - February 22, 2024) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to announce the continuation of operations at its mill near Globe, Arizona, following the completion of work mandated by MSHA. This work was completed on schedule, leaving SBMI with a MSHA-compliant operational mill.

SBMI has stockpiled Buckeye Silver Mine mineralized material at the mill site. Recent muck assays from the Buckeye ran as high as 8 ounces per ton and vein assays as high as 480 ounces per ton silver (see press release of February 5, 2024). SBMI intends to initially run the stockpiled material with assaying to be done throughout each run's production process, using the Company's onsite assay lab. The Company then intends to process the resulting material into dore bars.

Based on the production data and assay results, SBMI will then establish daily, weekly and monthly production targets, and intends to complete outstanding orders.

The Company has a full program that includes mining the Buckeye Silver Mine, processing dore bars, and carrying out a detailed exploration plan, subject to availability of funds.

The Company also announces it has reached an extension agreement with the owner of the lands hosting SBMI's mill, allowing for certain funds to be paid by SBMI on or before August 9, 2024. SBMI has also reached an extension agreement with the holder of the debenture initially due February 6, 2024, which debenture has been extended to June 30, 2024.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

February 5, 2024

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

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

Sample from Vein in Zone1

 

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

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

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

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

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

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

the boys.jpg

January 23, 2024

Silver Bullet Receives MSHA Approval

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

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

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

January 9, 2024

Silver Bullet Provides Operational Update in Arizona and Announces Second Tranche of Financing

January 9, 2024 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to provide an update on mine and mill operations in Globe, Arizona.

As part of the normal course mining procedures, both the federal Mining Safety and Health Administration (MSHA) and the state Mine Inspector completed their respective first mine inspections at the Buckeye Silver Mine on December 21 and 22, 2023, resulting in a request to make minor changes to the mine site. No major changes were requested. These minor changes are underway.

SBMI has been assigned both a mine and mill number from (MSHA) and the state Mine Inspector. SBMI’s first mine safety report filed with MSHA is currently under review and a response is anticipated in the near future. This regulatory step represents a significant move forward as SBMI transitions from a development company to commercial production.

Upon completion of the minor changes to the Buckeye Mine site, SBMI’s plan is to continue mining in Zone1, to muck out the mineralized material, to truck that material to the mill, and to process the material through the mill resulting in commercial production. It is believed the mineralized material from Zone1 will consist of higher grade silver material.

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

There is some lower grade material already stockpiled at the mill, ready to be blended with the anticipated higher grade material.

SBMI also announces it has closed the second and final tranche of the non-brokered financing (the “Financing”) previously announced on October 25, 2023. The second tranche of the Financing consisted of $98,925 by way of units (each, a “Unit”) priced at $0.12 cents per Unit, resulting in the issuance of 819,042 Units. Each Unit consisted of one common share and a full warrant exercisable into one common share at $0.17 for a term of 2 years. There is no acceleration clause on these $0.17 warrants. One insider participated in the Financing. One insider participated in the Financing. Finders fees paid to arm’s length parties were $2,604 in cash and 21,700 broker warrants.

The participation of one insider constitutes a related party transaction for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying upon exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 in completing the offering with the insider on the basis that the fair market value of such participation is less than 25 per cent of Silver Bullet Mines' current market capitalization.

 

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

January 3, 2024

Silver Bullet Closes First Tranche of Financing

January 3, 2024 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) announces it has closed the first tranche of the non-brokered financing (the “Financing”) previously announced on October 25, 2023.

The first tranche of the Financing consisted of $230,800.00 by way of units (each, a “Unit”) priced at $0.12 cents per Unit, resulting in the issuance of 1,923,333 Units. Each Unit consisted of one common share and a full warrant exercisable into one common share at $0.17 for a term of 2 years. There is no acceleration clause on these $0.17 warrants.

The Company expects to close the final tranche of the Financing in the near future.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

December 11, 2023

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

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

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

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

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

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

 

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

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

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

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

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

QA/QC

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

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

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

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

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

December 8, 2023

Silver Bullet Announces Milling Update and Extension of Financing

Burlington, Ontario--(Newsfile Corp. - December 8, 2023) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') announces that in connection with the private placement (the "Offering") originally announced in the Company's press release of October 25, 2023, the Company has applied to the TSX Venture Exchange for an extension of a further 30 days price protection to complete further subscriptions. The Company intends the next tranche or tranches of the Offering to close within that period.

Further closing of the Offering is subject to receipt of further subscriptions and all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and to the resale rules of applicable securities legislation.

SBMI has begun processing approximately 50 tons of mixed mineralized material from the new Zone1 at the Buckeye Silver Mine. It is anticipated assay results from this initial bulk sample should be available within a week or so. Processing this bulk sample is being treated as a trial run for the expected imminent production from Zone1.

The material is being assayed at multiple stages of the process to insure optimal recovery. The assay results will provide input as to any adjustments that may be necessary to improve production efficiencies and grade. The Company intends to take this mix of material through the entire milling process and produce silver dore bars.

At the Buckeye Silver Mine the crew continues to drill and blast as it develops the new Zone 1 and provides the mineralized material to be processed at the mill.

The Company also announces it has granted 1,778,571 options to officers, directors and consultants. Each option has a 5 year term, vests immediately, and has an exercise price of $0.15, which is a premium to the market and to the Offering.

 

For further information, please contact:

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

 

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

Cautionary and Forward-Looking Statements

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

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

November 30, 2023

Silver Bullet Announces John Kontak has Joined the Board, and Provides an update on Continuing Silver Processing

Silver Bullet Announces John Kontak has Joined the Board, and Provides an update on Continuing Silver Processing

November 30, 2023 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce the appointment of Mr. John Kontak to its board of directors. Mr. Kontak has extensive experience as a director and officer of public resource companies, most recently as President and Director of West Red Lake Gold Mines Inc. Mr. Kontak is a graduate of Dalhousie Law School, holds an MBA from Suffolk University in Boston, and is a dual citizen of Canada and the United States of America. Mr. Kontak’s appointment is subject to regulatory approval.

SBMI also announces shipping of mineralized material from Zone1 at the Buckeye Mine to the mill has begun. The first trucks recently began loading at the mine site as the next important step towards continuing processing at the mill. (A video of the first truck being loaded can be found at the Company’s home page Silver Bullet Mines Inc.) Processing will continue once sufficient material from Zone1 is delivered to the mill to provide for efficiencies. The Company plans to run this material as a bulk sample to provide a consistent head grade, and to determine and maximize recoveries.

Continual sampling and assaying will take place at all stages of the milling process. SBMI will use this data to determine the best blend of material to attain the highest recovery rates and to make the necessary adjustments to the process. It is anticipated this run should start in the near future, resulting in the pouring of saleable dore bars.

The Company continues to mine at Zone1 at the Buckeye. Mining is taking place approximately 735 feet from the portal where the vein continues to be over 19 feet wide. Recently six samples taken from the vein face and the floor ranged from 11.0 to 24.2 ounces per ton silver and averaged 16.2 ounces per ton silver.

QA/QC

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

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

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

For further information, please contact:

John Carter

Silver Bullet Mines Corp.,

CEO cartera@sympatico.ca

+1 (905) 302-3843

Peter M. Clausi

Silver Bullet Mines Corp.,

VP Capital Markets

pclausi@brantcapital.ca

+1 (416) 890-1232

Cautionary and Forward-Looking Statements

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

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

November 27, 2023

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

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

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

SAMPLE I.D       Silver    [oz/ton]           [grams/tonne]

 

1A                                     17.6                    603.4

1B                                     17.4                    596.6

1C                                     18.0                    617.1

 

2A                                     11.0                    377.1

2B                                     12.8                    438.9

2C                                     12.8                    438.9

3A                                      20.2                   692.6

3B                                      18.8                   644.6

3C                                      20.2                   692.6

4A                                      24.2                   829.7

4B                                      24.2                   829.7

4C                                      24.2                   829.7

 

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

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

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                                  Close up on vein face as of Nov 17/23

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

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

QA/QC

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

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

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

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

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

November 1, 2023

Silver Bullet Mines Announces Potential Third Revenue Stream from Gold Processing

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

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

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

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

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

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

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

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

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

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

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

October 30, 2023

Silver Bullet - Annual Financial Statements and MD&A

October 25, 2023

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

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

  1. two sets of high grade assay results from the Treasure Room

  2. initial assay results from the targeted mineralized zone at the Buckeye Mine in Arizona (Zone1),

  3. a financing, and

  4. the re-pricing of warrants.

 

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

 

GRAB SAMPLES

 

SAMPLE I.D        Silver        [oz/ton]              [ppm]

 

1                                            14.0                 480.2

 

2                                            15.2                 521.4

 

3                                            12.2                 418.5

 

4                                            13.6                 466.5

 

5                                            13.8                 473.3

 

6                                            35.2               1207.4

7                                          125.0               4287.5

 

8                                            20.2                 692.9

 

9                                            21.2                 727.2

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

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

  1. from stope 25 - 74.0 Ozs./Ton silver

  2. from stope 32 - 11.6 Ozs./Ton silver

  3. from stope 33 - 212.2 Ozs./Ton silver

  4. from stope 34 - 101.8 Ozs./Ton silver

 

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

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

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

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

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

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

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

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

QA/QC

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

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

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

For further information, please contact:

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

Peter M. Clausi


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

Cautionary and Forward-Looking Statements

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

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

October 11, 2023

Silver Bullet Announces Interception of Targeted Higher-Grade Silver Zone 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

September 7, 2023

Silver Bullet Announces Investment and Continuation of Mining in Arizona 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

July 24, 2023

Silver Bullet Announces Temporary Suspension of Activities 

July 24, 2023 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) announces  that it has temporarily suspended operations at its Buckeye Silver Mine and its processing mill in Arizona.

The temporary suspension of activities results from excessive heat warnings by the National Weather Service, with temperatures being experienced in the range of 41 to 46 Celsius.  Additionally, the area of the Buckeye Silver Mine has experienced wildfires resulting in restricted access to the property.

Maintenance activities continue at both the mine site and the mill until the resumption of activities.

The Company is working with its customers to extend delivery dates as a result of the suspension of operations.  

While the Company anticipates being able to resume operations in the near future, the timing is subject to climate variables beyond its control.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

July 7, 2023

Silver Bullet Announces Extension of Silver Purchase Contract 

July 7, 2023 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) announces the extension of the silver purchase agreement described in its April 27, 2023 and May 4, 2023 press releases. Effective June 30, 2023, the Purchaser and SBMI have verbally agreed to extend the term of such agreement to August 31, 2023, and are working towards reducing such verbal agreement to writing.

The test-run shipment of silver, as described in the Company’s June 14, 2023 press release, from SBMI to the Purchaser has been picked up by the international carrier and is anticipated to arrive at the Purchaser’s home country in the next week or so.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

July 6, 2023

Silver Bullet Announces Board Resignation 

July 6, 2023 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) announces the resignation of John MacKenzie from the Board of Directors effective June 30th. The Company thanks Mr. MacKenzie for his contribution and wishes him success in all future endeavors. The board is actively engaged in identifying and evaluating alternatives with respect to the appointment of a new director to fill the vacancy left by Mr. MacKenzie.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

June 15, 2023

Arizona Operational Update 

June 15, 2023 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) provides an operational update on its Arizona activities.

The mill in Globe, Arizona has been operating on a single shift of ten hours per day at its rated capacity with no major issues. It is running at optimal efficiency processing mineralized material from the lower grade stockpiles of vein material. Higher grade material from the mine should be introduced when it arrives at the mill. Videos of the mill can be seen at SBMI’s website www.silverbulletmines.com.

SBMI intends to increase the operating hours by adding another shift, which should happen as the mill crew becomes more familiar with the running of the mill and is able to onboard a second shift.

The mill has processed approximately 350 tons of vein material over the last seven days. The 350 tons of feed produced 418 pounds of both magnetic and non-magnetic concentrates from the concentrating table. As can be seen in the photograph below, there was a line of goldish coloured material on the right end of the shaker table when recent material was processed. Management believes this material to be gold, given its location on the table, gold’s specific gravity being higher than silver’s and copper’s, the history of the mineralized material from the Buckeye Mine, and management’s experience with processing. This material was not assayed for gold and readers are cautioned this material might not contain gold or such material may not be representative of other material from the Buckeye Mine.

From the 418 pounds of concentrate roughly 226 pounds of iron alloy were removed using a magnetic separation circuit, to remove the material which may host some silver, gold, and platinum group elements. This removed material will be retained for future processing to recover the precious metals.

The 192 pounds of non-magnetic material was moved to the Company’s refinery where dore bars are poured. These dore bars contain silver and minor amounts of gold, copper, nickel and other metals. Based upon the report from SBMI’s customer, none of the material is deleterious in nature so it should not negatively impact the value of the bar. Slag material removed in the upgrading process is retained for further processing and possible future sale.

The poured dore bars have been prepared for transportation.

Transportation of dore bars is handled by a specialized carrier permitted to transport precious metals to Europe requiring importation documentation. Working closely with the purchaser SBMI intends to make a smaller test run of product (proof of concept) to ensure the shipping process functions as expected. That proof of concept shipment should take place soon. The total number of paid ounces for silver and gold will be determined by assay after the bars’ arrival at the refinery.

At the Buckeye Silver Mine the mine team is carrying out screening and rock bolting as the team drifts along the vein. As noted in previous press releases, the goal of drifting along the vein is to intercept the historical higher mineralized zone behind the Treasure Room, which interception management believes should happen in the near future.

For further information, please contact:

John Carter

Silver Bullet Mines Corp.,

CEO cartera@sympatico.ca

+1(905)302-3843

Peter M. Clausi

Silver Bullet Mines Corp., VP Capital Markets

pclausi@brantcapital.ca

+1 (416) 890-1232

Cautionary and Forward-Looking Statements

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

 

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

May 16, 2023

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

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

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

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

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

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

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

Management is looking forward to starting re-development of the Washington Mine, and believes the mine has a great deal of potential not only as a significant silver producer but, based on last year’s field program, also as a potential extension of the historical high-grade gold zone. (see press release August 23, 2022).

For further information, please contact:

John Carter

Silver Bullet Mines Corp.,

CEO cartera@sympatico.ca

+1(905)302-3843

Peter M. Clausi

Silver Bullet Mines Corp., VP Capital Markets

pclausi@brantcapital.ca

+1 (416) 890-1232

Cautionary and Forward-Looking Statements

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

 

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

May 4, 2023

Silver Bullet Mines Corp. (SBMI) Receives Cash on First Order for Silver from Buckeye Mine in Arizona 

May 4, 2023 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce it has received the previously announced cash advance on its first order for its silver products from a third-party (the “Purchaser”).

SBMI has received the sum of USD$225,000 from the Purchaser as a cash advance against the order for 500 kg of silver, to be delivered to the Purchaser in tranches or all at once. At today’s pricing this first order represents more than USD$430,000 (more than CDN$570,000).

The Purchaser has indicated it intends to purchase 500 kg from SBMI each month for six months, including this order.

The first order is currently being processed from the stockpile at the mill and SBMI anticipates shipping it in whole or in part within 30 days. The Company continues to work with the Purchaser and other potential purchasers to develop a customer base for its silver/gold production.

At the Buckeye Mine, mining is ongoing. As per SBMI’s January 16, 2023 press release, SBMI continues to drift along the vein to an area believed to contain higher grade mineralization (see page 8 of the Geologic Report dated January 8, 2021). The Company expects to encounter that area in the near future, although given the uncertainties inherent in mining no exact date can be given.

For further information, please contact:

John Carter

Silver Bullet Mines Corp., CEO

cartera@sympatico.ca

+1(905)302-3843

Peter M. Clausi

Silver Bullet Mines Corp., VP Capital Markets

pclausi@brantcapital.ca

+1 (416) 890-1232

Cautionary and Forward-Looking Statements

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

 

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

April 27, 2023

Silver Bullet Mines Corp. (SBMI) Provides Update on First Order for Silver from Buckeye Mine in Arizona 

Burlington, Ontario--(Newsfile Corp. - April 27, 2023) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to provide an update on its first order for its silver products from a third-party (the "Purchaser").

The first order, announced in detail on April 17, 2023, and the attendant USD$225,000 cash advance from the Purchaser empowers SBMI to fund the cost of processing the mineralized material from the Buckeye Mine without dilution to the shareholders. The Purchaser advises it carried out a detailed analysis of the silver dore bar sent earlier and advises it believes there are no material impurities in that bar. If the bar is representative of the silver to be delivered, SBMI would incur a minimal discount to spot prices and there would be no reduction in the amount payable to SBMI due to deleterious metals.

The current order is for 500 kg (17,600 ounces), and the Purchaser has indicated it intends to order that same amount per month for the foreseeable future. Each such monthly order would represent roughly USD$400,000 in revenue to SBMI at current spot price for silver.

The Debenture referred to in the April 17, 2023 press release would bear interest at the rate of 2% per month on the outstanding principal for one month, which interest begins to accrue after 30 days. If the conversion feature of the Debenture is triggered, the conversion price would be $0.22 per share.

There are approximately 2500 tons of mineralized material on surface at the Buckeye Mine site to be shipped to the mill on an as needed basis. Mining is ongoing. As per SBMI's January 16, 2023 press release, SBMI is drifting along the vein to an area believed to contain higher grade mineralization (see page 8 of the Geologic Report dated January 8, 2021). At the current rate of mining that zone should be intercepted in approximately 4 weeks, although that timing may vary subject to the usual risks attendant on mining.

SBMI anticipates starting to process the current order this week by processing the material on hand at the mill/mine site, which has earlier returned high grades (see March 3, 2023 press release). Management believes the mill is operating at optimum efficiency.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

April 17, 2023

Silver Bullet Mines Corp. Announces Cash Advance on First Order 

April 17, 2023 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) announces it has entered into a cash advance from a purchaser of SBMI’s silver products (the “Purchaser”).

SBMI has previously announced an order for 50 kilograms of silver from the Purchaser, which order has since been increased to 500 kilograms (17,600 oz) of silver. The Purchaser has indicated a willingness to purchase 17,600 oz of silver from SBMI every month for the foreseeable future. Management reasonably believes SBMI has the capability to fill such monthly orders.

The Purchaser and SBMI have since entered into an agreement whereby the Purchaser would advance USD$225,000 against the first delivery of silver to it by SBMI. This advance would be secured by a conditional convertible debenture (the “Debenture”). The Debenture only becomes convertible in the event SBMI does not deliver USD$225,000 of silver to the Purchaser within 60 days of SBMI receiving the USD$225,000 advance. This amounts to a little more than 9,000 oz of silver, depending upon the spot price at the time of delivery.

The principal amount of the Debenture would decrease as SBMI delivers silver to the Purchaser, and would expire upon the delivery of USD$225,000 worth of silver to the Purchaser. Once SBMI has delivered USD$225,000 worth of silver to the Purchaser, the Debenture would expire. The Debenture would accrue interest at the rate of 3% per month on the outstanding principal for one month, which interest begins to accrue after 30 days. After 60 days either the interest converts with the Debenture, or if SBMI has delivered USD$225,000 worth of silver to the Purchaser the obligation to pay interest would expire.

The funds would be advanced by the Purchaser immediately after SBMI receives regulatory approval for the Debenture, and would be used for working capital purposes.

 

For further information, please contact:

John Carter

Silver Bullet Mines Corp., CEO

cartera@sympatico.ca

+1(905)302-3843

Peter M. Clausi

Silver Bullet Mines Corp., VP Capital Markets

pclausi@brantcapital.ca

+1 (416) 890-1232

Cautionary and Forward-Looking Statements

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

 

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

March 30, 2023

Silver Bullet Mines Corp. (SBMI) Confirms Anomalous Platinum Group Elements (PGE)

in Some Samples on its Richmond Basin, Arizona Property

March 30, 2023 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce it has received the assay results from a third party independent (ISO 17025-2017) accredited lab, American Assay Laboratories. These are the ‘check assays’ for material tested and reported in September and October, 2022.  These results confirm the presence of anomalous platinum group elements (PGE) values in some of the material.

 

QA/QC

 

A total of six samples, 6 duplicates, 4 standards and one blank sample were assayed. The samples were collected by the mine crew from various material at the Buckeye Mine and were crushed and ground to a powder at the Company’s assay lab with the powder retained in marked sample bags. A portion of each of these bags was retained and a portion was inserted in another labelled bag and then delivered by a courier in Globe, Arizona to American Assay Laboratories in Nevada. The blank and standards were included as well. American Assay Laboratories used a similar assay finish procedure as the first lab, Lone Pine, namely ICP-MS. Lone Pine used a 4 acid dissolution of a 200 milligram sample and American Assay Laboratories used a sodium peroxide fusion of a 5 gram sample.

 

To further confirm the presence of platinum a repeat Fire Assay was undertaken. For this method the sample was fused in a ceramic crucible with litharge, sodium carbonate, borax and flour at 1080°C. From this a 25-50 gram lead button was cupelled in a magnesite cupel at 900° for 60 minutes. The silver bead was then parted with concentrated nitric acid followed by hydrochloric acid to generate chlorine and nitrosoyl chloride that dissolved the PGM sponge. Digested samples were read on an ICP-AES.

 

The PGE results obtained from American Assay Laboratories were in line with a 1995 historic report and that of Lone Pine.

 

American Assay Laboratories assayed for silver, gold, iridium, osmium, palladium, platinum, rhodium and ruthenium (see chart below). The green highlighted samples relate to standards and the yellow to blanks.

sbmi march 30, 2023.png

Based on these results the Company plans to continue its evaluation of the economic potential of PGE on the Buckeye Mine. Samples within the Buckeye Mine upper adit hydrothermal vein system are in the process of being sent to Dr. A. Macdonald at Laurentian University for further analysis, and a selective sampling program is to be initiated. Further testing will be done using ICP-MS as well as NAA (nuclear activation analysis) when warranted.


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

The Company also announces that due to time commitments on other projects, J. Birks Bovaird has resigned from the board of directors. The Company thanks him for his tireless commitment to the shareholders.

The Company also announces the appointment to the board of John S. MacKenzie, CPA CA. Mr. MacKenzie will also serve as the board’s chair.

Mr. MacKenzie is currently CFO and a founding shareholder of Critical Minerals Americas Inc., a private exploration stage mining company in Alberta. He is also CFO and a founding shareholder of Evergreen Environmental Inc., engaged in the anaerobic digestion of organic waste and production and sales of RNG.

In the past Mr. MacKenzie was for 13 years the CEO of international heavy jet cargo airline AllCanada Express (ACE) and has since occupied both C-Suite and consulting positions with various mining, aviation, and technology companies. He has extensive financing, lease, purchase and sales experience over dozens of transactions and hundreds of millions of dollars of equipment.      

  

Mr. MacKenzie also has ten years of public accounting experience with Clarkson Gordon / Ernst & Young.

 

For further information, please contact:

John Carter

Silver Bullet Mines Corp., CEO

cartera@sympatico.ca

+1(905) 302-3843

Peter M. Clausi

Silver Bullet Mines Corp., VP Capital Markets

pclausi@brantcapital.ca

+1 (416) 890-1232

Cautionary and Forward-Looking Statements

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

 

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

March 16, 2023

Silver Bullet Mines Corp. Processes Gold and Silver From Upper Adit at Buckeye Mine Arizona

Burlington, Ontario--(Newsfile Corp. - March 16, 2023) - Further to its press release of March 3, 2023, Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to provide an update on the latest processing campaign at its 125 TPD pilot plant.

Over a recent four-day period from March 8 to March 13, 2023, SBMI processed mineralized vein material at its 100% owned mill in Globe, Arizona, from which it recovered concentrate which will be converted to dore bars, confirming the recent mill modification was successful. The mineralized material was taken from the vein structure in the upper adit behind the Treasure Room.

SBMI Mar 16, 2023 -1.jpg

Dore bar poured March 15, 2023.

SBMI is producing an initial batch of dore bars to be sent to a third-party lab for analysis and to potential purchasers for their analysis. One dore bar has previously been sent to a potential purchaser for its analysis.

Calibrated XRF analysis have confirmed recovered gold in these dore bars, including one bar that analyzed 0.382 % gold. The XRF analysis shows the dore consists primarily of silver and copper, with gold, zinc, nickel, lead and iron. No deleterious material was found in the dore bar. This confirms the previous findings of Dr. Andrew Macdonald from the Harquail School of Earth Sciences at Laurentian University in Sudbury, Ontario on the silver contained within a sample collected from the floor of the Treasure Room area.

The crushing circuit of the mill is running at optimal efficiency. The grinding and gravity circuits were run at approximately 50% capacity while being optimized. The number of tons of mineralized material to be processed per hour will be increased as optimization continues and as a result of grade control assay results processed at SBMI's lab at the millsite.

To feed the mill, the Company has accumulated a significant stockpile of mineralized material at the Buckeye Mine for transportation to the mill site. Mining is ongoing in 150 ton (136 tonne) rounds, with four rounds per week, advancing at 12 feet (3.7 metres) per round.

Next steps include increasing the tonnage being shipped from the Buckeye Mine to the mill, continuing mining of the historical higher grade zone, filling the outstanding order, sourcing other purchasers, and continuing to improve operational performance at the Buckeye Mine and at the mill.

SBMI previously announced that it had received an order for 50 kg (1,760 ounces) of silver. The entity that placed that order has advised SBMI that it intends to increase that order to a minimum of 500 kg (17,600 ounces) per month. Management reasonably believes it will be able to satisfy that increased order for the foreseeable future. To decrease risk, the Company is currently in discussions with several additional potential purchasers.

Higher grade samples and dore bars, and what the field team believes to be bornite, will be sent to Harquail School of Earth Sciences for further detailed analysis. See the photo below.

The potential bornite at the Buckeye Mine is believed to be found as a hydrothermal mineral in fractures in cooler areas of the fluid migration. Association with native silver and other precious minerals have been known to occur in such mineralized situations. Further analysis of the potential bornite mineralization is ongoing.

SBMI Mar 16, 2023 -2.jpg

Recent sample collected from the Buckeye Mine upper adit @ 450 feet from the portal entrance.

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

For further information, please contact:

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

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca 

+1 (416) 890-1232

Cautionary and Forward-Looking Statements

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

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

March 3, 2023

Silver Bullet Mines Corp. Encounters Further Silver Mineralization and Returns to Processing Material at its Mill

March 3, 2023 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce it is again processing mineralized material its 125 TPD pilot plant. The mill is currently being fine tuned with low grade material to set the recovery parameters. Having resolved the issues with pouring silver dore bars, and having made the necessary related modification to the mill circuit, the Company intends to soon process higher grade material. To date the mill has been operating to specifications with non-detectable values for silver in the tailings produced from the shaker table.

SBMI Mar 3, 2023 -1.jpg

Line of silver from shaker table, March 2, 2023

The Company has one outstanding order for 50 kilograms of silver including credits for any contained copper or gold. The purchaser of those 50 kilograms has indicated a willingness to acquire up to 500 kilograms of silver on one week’s written notice. The Company is also in discussions with other potential purchasers.

Like any responsible producer, SBMI operates its own assay lab. SBMI continues to implement a strategic sampling program using that lab to enable it to maintain silver grade control to the mill.

Below is a list of recent highlight assays and photos from the vein in the upper adit at the Buckeye Mine, from an area to which the Company recently drifted behind the Treasure Room (not all assay results are reported). Note that all of the samples listed and photographed below are from the upper adit 420ft - 444ft from the entrance of the upper adit.

SBMI Mar 3, 2023 -2.jpg

Typical mineralization being encountered in the Buckeye vein within the last week

Sample from vein at Buckeye Silver Mine

 

High grade vein material - 270.0 ounces per ton silver (from the sample in the picture above)

                                            - 290.0 ounces per ton silver

                                            - 297.6 ounces per ton silver

                                            - 284.0 ounces per ton silver

Green Vein Material  

         - 60.0 ounces per ton silver

                           - 78.8 ounces per ton silver

                           - 47.2 ounces per ton silver

                            - 40.5 ounces per ton silver

Green Vein Material

Green Vein Material Location in the Upper Adit

 

Silver Coloured Vein material

         - 79.4 ounces per ton silver

                                 - 89.0 ounces per ton silver

                                 - 96.8 ounces per ton silver

                                 - 43.0 ounces per ton silver

Sawing channel sample across the face of the vein at 444ft from the portal entrance, late February, 2023

 

10ft Channel Samples Across Vein

         -18.0 ounces per ton silver average across 10ft @ 432ft from the adit portal

         - 49.6 ounces per ton silver average across 10ft @ 444ft from the adit portal

 

Drill Cuttings From Blast Holes

         - 2.8 ounces per ton silver average over 12ft @ 420-432ft from the adit portal

         - 5.8 ounces per ton silver average over 12ft @ 432-444ft from the adit portal

 

The Company currently has approximately 750 tons of run of mine mineralized material at the minesite ready for transportation to and processing at the mill site in Globe.

 

QAQC

All the samples above were collected by SBMI’s field team. Samples were collected and placed in sample bags with their appropriate tag and processed at the Company’s own assay lab. Like any responsible producer, the Company owns its own assay lab and regularly takes samples as part of its production process.

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.

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

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

 

For further information, please contact:

John Carter

Silver Bullet Mines Corp., CEO cartera@sympatico.ca 

+1 (905) 302-3843

Peter M. Clausi 

Silver Bullet Mines Corp., VP Capital Markets

pclausi@brantcapital.ca

+1 (416) 890-1232

 

Cautionary and Forward-Looking Statements

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

 

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

February 15, 2023

Silver Bullet Mines Corp. Assays 270.6 Ounces Per Ton Silver In Upper Vein At Buckeye Mine In Arizona

February 15, 2023 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) announces strong initial assay results from the interception of the upper main vein at the Buckeye Mine near Globe, Arizona.

The vein was intercepted approximately 380 feet from the entrance to the adit. Immediately on contact with the vein the first significant assays from the vein were 43, 178.6, and 270.6 ounces silver per ton. The samples yielding these results did not include material from the footwall. The samples were selected at random from the mineralized material removed from the vein and then were sent to SBMI’s assay lab for processing.

SBMI1 February 15, 2023.jpg

Recent Sample from Buckeye Mine

The Company is now mining along the exposed vein with assay results pending from the face. SBMI has extended the workings to 420 feet from the entrance to the adit, the vein is ten feet wide and eleven feet high, and the footwall is estimated by the field team to be four feet wide.

SBMI has stockpiled in excess of 450 tons of vein material at surface at the Buckeye Mine site, for shipment to the mill. The Company is mining 150 to 200 tons of mineralized material per day, although this rate will vary. The Company believes it has achieved the targeted grade necessary to support processing this material at the Company’s mill and to then pour dore bars or create concentrate. Both the dore bars and the concentrate will saleable product, and the Company does not expect to encounter any significant difficulties in finding buyers for those products.

SBMI is also pleased to announce it has begun to resolve the issues with pouring dore bars from this material. The picture below shows a malformed dore bar from September, 2022.

SBMI2 Feb 15, 2023.jpg

Malformed dore bar from Sept, 2022

The Company thanks Dr. Andrew Macdonald, a mineralogist with Harquail School of Earth Sciences at Laurentian University, for his assistance. Initial results from his work indicate the presence of a highly magnetic iron alloy in the mineralized material. The iron alloy smelts at temperatures of over 3000 degrees F, which is above the silver smelting temperature of roughly 1800 degrees F, and therefore it interferes with the silver smelting process. SBMI has confirmed this thesis by using a high intensity magnet to pull the iron alloy from the concentrate prior to smelting. The dore bar below, poured in February, 2023, resulted from concentrate after the iron alloy was removed.

SBMI3 Feb 15, 2023.jpg

Dore bar poured after the iron alloy was removed; Feb 2023

As a result the Company intends to permanently install a high intensity magnetic separator in the milling operation to improve the likelihood the Company can smelt silver dore bars. The Company intends to store the magnetic concentrates for future research. Continued research will be needed.

The Company is still awaiting the check assay results from American Assay Labs and Actlabs.

 

SBMI’s near term goal is to process the higher grade material at the Company’s mill to produce saleable product.

QAQC

All the samples above were collected by SBMI’s field team. Samples were collected and placed in sample bags with their appropriate tag and processed at the Company’s own assay lab. Like any responsible producer, the Company owns its own assay lab and regularly takes samples as part of its production process.

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.

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

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

 

For further information, please contact:

John Carter

Silver Bullet Mines Corp.,

CEO cartera@sympatico.ca 

+1 (905) 302-3843

Peter M. Clausi 

Silver Bullet Mines Corp., VP Capital Markets

pclausi@brantcapital.ca

+1 (416) 890-1232

 

Cautionary and Forward-Looking Statements

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

 

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

January 31, 2023

Silver Bullet Mines Corp. Discovers New Sulphide Vein Structures at the Buckeye Mine and a New Gold Occurrence

January 31, 2023 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to report results from its Buckeye Mine development, ongoing PGM (platinum group metals) study, assay results from its Black Copper occurrence and the discovery of a new gold occurrence on its Black Diamond Property.

Picture1 SBMI Jan 31, 2023.jpg

Development drift intersecting a wall of sulphides at the Buckeye Mine, Jan. 28, 2023

As of this date the development drift at the Buckeye Mine has advanced about 116 metres from the adit alongside the main vein with ongoing bolting and screening.

In its January 17, 2023 press release the Company advised it “…next intends to drift along the vein to an area believed to contain higher grade mineralization (see page 8 of the Geologic Report dated January 8, 2021).” However, the Company believes it may have intercepted that area of higher grade mineralization sooner than expected.

Approximately 1 metre before turning into the anticipated intersection with the main vertical vein, a 0.6 metre thick horizontal fracture zone was encountered that contained bands of massive sulphides. Horizontal sulphide bands were also noted by the QP for this press release in the Treasure Room along with paper thin layers of high purity native silver, similar to the bands in the newly discovered fracture zone. While the Company expected to locate the area of higher grade mineralization, the placement of this 0.6 metre wide area of sulphide mineralization was a positive surprise to the Company.

A blast in the drift on January 27, 2023 exposed another wall of sulphides at the end of the drift. These sulphides were also encountered sooner than the Company expected. Samples of the sulphide material are being prepared to be sent for assaying and further petrographic examination.

Regarding the earlier reported PGM assays and as previously reported, check assay samples have been sent to three independent certified labs. SBMI is awaiting complete reporting of the assays from the three labs. In addition to these check assays, the Company has contracted Dr. Andy McDonald, Mineralogist, of the Harquail School of Earth Sciences, at Laurentian University in Sudbury, Ontario, Canada, to undertake sample preparation, petrographic and scanning electron microscope examination of two samples derived from the Buckeye Mine.

The first sample being analyzed by Dr. McDonald was taken by the QP in November, 2022. It was diabase from the floor of the Treasure Room of the Buckeye Mine containing a silvery ductile mineral, subsequently confirmed by Dr. McDonald to be high purity native silver. When this sample was examined with an uncalibrated handheld X-ray fluorescent unit, the presence of palladium at 29 and 21 parts per million was noted. The second sample provided to Dr. McDonald was a malformed dore bar poured by SBMI in September, 2022 derived from the Buckeye Mine, containing highly refractory “unknown material.”

Picture2 SBMI Jan 31, 2023.jpg
Native silver in diabase rock sample collected from the floor of the Treasure Room, Buckeye Mine
Picture3 sbmi Jan 31,2023.jpg
Malformed refractory dore bar poured in September, 2022

Also in SBMI’s January 17, 2023 press release, SBMI advised third part geologic consultants including the QP had visited the Black Copper occurrence in late November and early December, 2022. Black Copper is situated on SBMI’s Black Diamond property roughly one point five kilometres south of the Buckeye Mine and is referred to in the January, 2021 Geologic Report. Samples from Black Copper were taken and reported the following results:

Sample number         Au (ppb)             Cu ppm

342151                           615                    >1000

342152                           192                    >1000

342153                           941                    >1000

342154                           654                    >1000

 

The over-detection limit for copper on these samples was 1000 parts per million. These four samples were sent for further analysis which returned:

 

Sample number          Cu ppm                    Cu %

 

342151                           22,400                    2.24

342152                           37,400                    3.740

342153                           34,000                    3.400

342154                           54,900                    5.490

 

In addition during this geological study, an area of broken rusty quartz float was observed by the QP near the trail to the Richmond Basin to the west of the McMorris and Buckeye Mines. This is the Company’s first testing of this area. These quartz fragments appeared to be segments of narrow quartz veins containing sulphides. Due to a soil cover of a few inches to a foot in this area, limited time prevented exposure of the underlying bedrock. Four samples were collected from surface and yielded the following gold assays:

 

Sample number          Au (ppb)               Bi (ppm)

342109                             17                           2

342110                           4450                       412

342111                              64                       1600

342112                               7                          16

 

A bismuth assay of 1600 ppm and a silver assay over 100 ppm was recorded in sample 342111. The QP of this press release highly recommends further evaluation of this new gold occurrence.

Picture4 sbmi Jan 31, 2023.jpg
Sample 342110 assayed 4.45 g/t Au. from the new gold occurrence.

QAQC For SBMI

All the samples above were collected by Robert Komarechka and John Corkery. Samples were collected and placed in sample bags with their appropriate tag and personally taken to the courier and shipped to Actlabs in Thunder Bay, Ontario for assaying. Certified standards and blanks were used both by the Company and Actlabs.

All samples analyzed by Actlabs were by Fire Assay ICPOES (Induced coupled plasma arc with optical emission spectroscopy).

The multi-element analysis was by digestion with a combination of hydrochloric, nitric, perchloric and hydrofluoric acids.

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

With respect to the Company’s press release concerning seeking an extension of the Warrants (as that term is defined in that release), SBMI advises it is seeking an extension on a total of 8,528,081 Warrants with new expiry dates ranging from February 6, 2024 to July 8, 2024.

 

For further information, please contact:

John Carter

Silver Bullet Mines Corp., CEO

cartera@sympatico.ca

+1 (905) 302-3843

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

Cautionary and Forward-Looking Statements

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

 

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

January 30, 2023

Silver Bullet Mines Seeks to Extend Warrants

Burlington, Ontario--(Newsfile Corp. - January 30, 2023) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') announces it is applying to the TSX Venture Exchange to extend all warrants related to the Company's $0.30 round of financing (the "Warrants"). The Warrants have a two-year term, are exercisable at $0.50 (fifty cents) and were issued in various tranches from February 6, 2021 to July 8, 2021.

The Company is seeking regulatory approval to extend all Warrants for one additional year from their original expiry dates.

With respect to the Arizona mining and milling operations, SBMI expects to be able to make further disclosure within two weeks.

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 pathogen; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of mineralized material; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI's properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

The Issuer has not based its production decision on current resources or the results of a pre-feasibility study of mineral resources to establish mineral reserves demonstrating technical and economic viability. Significant uncertainty exists on the presence of any economic mineable material.

January 17, 2023

Silver Bullet Mines Intercepts Vein in Arizona

January 17, 2023 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce it has intercepted the targetted vein, behind the historical Treasure Room at its Buckeye Silver Mine. This interception occurred on schedule and within SBMI’s budget. To intercept the vein SBMI rehabilitated, extended, screened and bolted the upper development drift. The material being removed is being deposited in specific locations for future evaluation.

SBMI next intends to drift along the vein to an area believed to contain higher grade mineralization (see page 8 of the Geologic Report dated January 8, 2021). The Company believes this target area to be approximately 200 feet from where SBMI recently intercepted the vein.

SBMI intends to carry out multiple daily assays of the materials referred to above at its assay facility at its millsite. The mill is ready to recommence processing immediately upon receipt of mineralized material from the Buckeye. The assay results are intended to inform the geologic team and not all such results will be disseminated.

In its December 15, 2022 press release, SBMI advised third party geologic consultants would be providing the Company with a report including observations, comments, and recommendations, based upon their November 29 - December 14, 2022 site visit to Arizona. They inspected the third-party independent lab used for sample testing, visited the Buckeye Mine site, visited the Company’s millsite, and visited the Black Copper and Helena occurrences, both of which are situated on SBMI’s Black Diamond property and are referred to in the January, 2021 Geologic Report.

Those geologic consultants also carried out a brief initial re-inspection of NQ core drilled at the Buckeye Mine by a previous optionee. This re-inspection has revealed coarse grained gabbronorite phases containing magnetite disseminations and thin bands within an area previously mapped as diabase. Small intervals containing olivine phenocrysts were also noted. These rocks may have potential for PGM mineralization. Further examination is being undertaken on these in situ rocks, the core, the Black Copper and the Helena occurrences. Samples from each has been sent to a third-party accredited lab for analysis and further work is ongoing. The Company can find no evidence of any PGM testing having previously been undertaken on this core or the rock labelled as diabase.

Finally, contact with various mineralogical and geochemical labs is ongoing to resolve metallurgical and refractory issues encountered while trying to pour dore bars from the Buckeye Mine material.

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

 

For further information, please contact:

John Carter

Silver Bullet Mines Corp., CEO

cartera@sympatico.ca

+1 (905) 302-3843

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

Cautionary and Forward-Looking Statements

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

 

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

 

The Issuer has not based its production decision on current resources or the results of a pre-feasibility study of mineral resources to establish mineral reserves demonstrating technical and economic viability. Significant uncertainty exists on the presence of any economic mineable material.

December 15, 2022

Silver Bullet Mines to Resume Development of Buckeye Silver Mine and Update on PGM

December 15, 2022 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce the imminent resumption of development of its Buckeye Silver Mine near Globe, Arizona.

SBMI plans to extract a bulk sample of mineralized material from the area of the Buckeye Silver Mine known as the Treasure Room, described in a press release of March 1, 2022, located in the upper adit of the Buckeye Silver Mine. Prior to accessing the Treasure Room, screening and rock bolting of the adit is required pursuant to MSHA regulations, which the Company estimates should take approximately one week to complete.

Upon completion of the safety measures, SBMI intends to commence work to extract mineralized material, and the Company estimates that it should take two to three weeks to intercept the veins described in the press release of March 1, 2022. Mineralized material from the floor of the Treasure Room has previously been assayed and results previously reported (March 1, 2022). The Company has previously been able to process mineralized material from this source into dore bars. Further mineralized material from this same source, once extracted, will be processed by the Company’s mill.

SBMI also advises that on a recent site visit to the Buckeye Silver Mine and the Black Diamond Property, the Company’s consulting geologists Robert Komarechka and John Corkery examined and re-logged a portion of core drilled by a prior optionee at the Buckeye Silver Mine in 2017 (press release of December 8, 2022), and extracted samples from the core, from the upper adit of the Buckeye Silver Mine, and from other parts of the Black Diamond Property. Blanks and standards were added, and all samples have been sent to a division of Actlabs for analysis for PGMs.

Messrs. Komarechka and Corkery will be providing the Company with a Report including observations, comments, and recommendations and subject to results of assays, plan a site visit to the Buckeye Silver Mine and the Black Diamond Property early in 2023.

 

For further information, please contact:

John Carter

Silver Bullet Mines Corp., CEO

cartera@sympatico.ca

+1 (905) 302-3843

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

Cautionary and Forward-Looking Statements

Readers should be cautioned that the Company’s decision to move forward with the construction of and production at the Washington Mine and the Buckeye Mine is not based on the results of any pre-feasibility study or feasibility study of mineral resources demonstrating economic or technical viability. The Company has undertaken exploration and development activities; and after taking into consideration various factors, including but not limited to: historical data, the exploration and development results to date, technical information developed internally, the availability of financing, and the starting costs as estimated internally by the Company’s management, the Company is of the view that the establishment of mineral reserves by way of a prefeasibility or feasibility study at this stage is not necessary and would be unduly costly, and that the most responsible utilization of the Company’s resources is to proceed with the development of the mines. Readers are cautioned that due to the lack of prefeasibility study or feasibility study, there is increased uncertainty and higher risk of economic and technical failure associated with the Company’s decision. In particular, there is additional risk that mineral grades may be lower than expected, and the risk that construction or continuing mining operations may be more difficult or more expensive than management expected. Production and economic variables may vary considerably, due to the absence of a detailed economic and technical analysis in accordance with National Instrument 43-101. Failure at the Washington or Buckeye Mine may materially adversely impact the Company’s overall ability to continue as a going concern.

 

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 epidemic or pandemic; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of mineralized material; shareholder and regulatory approvals; licencing and permitting; 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.

December 12, 2022

Silver Bullet Mines Provides Overview of Activities

Burlington, Ontario--(Newsfile Corp. - December 12, 2022) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') directs readers to the Company's website to view a summary overview provided by the Company's CEO of activities during the past several months.

Based on feedback from shareholders as a result of the press release of December 8, 2022, the Company's CEO has provided an anecdotal summary of the Company's activities from September 2022 to date.

Readers are directed to the Company's website www.silverbulletmines.com to view the document.

 

Please see the front page of this website.

For further information, please contact:

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

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.

December 8, 2022

Silver Bullet Mines Provides Update on Idaho and Arizona Mines

 

December 8, 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 Washington Mine in Idaho and at its Buckeye Mine in Arizona.

In Arizona at the Buckeye, core drilled by a prior optionee at the Buckeye Mine in 2017 has been located and a chain of custody established. The core is being re-logged. There is no record of any of it having been tested for platinum group elements. It is intended that some of such core will be split and sent to an accredited third-party lab for testing, and the remainder will be stored after it is logged.

SBMI Dec 8, 2022 1.jpg
SBMI Dec 8, 2022 2.jpg

Historical third party core from 2017

Historical core being split in December, 2022

In Idaho, the entrance to the historical past-producing gold and silver mine has been screened and rock bolted. In management’s opinion the entrance to the historical mine is secure. Efforts continue to ensure the access area past the entrance is safe to enable the field team and contract miner to advance towards what is believed to be the mineralized zone. A mining engineer has created a mine plan and a ventilation plan which will be implemented once the area is secure. The Company believes it has the necessary equipment to proceed, including a recently acquired mucker. If timber is required, SBMI has the timber rights at surface at the Washington Mine and can harvest the timber as needed.

The mining plan at the Washington Mine is subject to evolution as new facts are encountered on surface, underground and in the supply chain. The current plan is to mine around the caved area, develop a raise in the mineralized material up to surface, and to work through the winter as possible. This requires SBMI to acquire an explosive licence, for which it is applying.

Winter weather in Idaho is an uncontrollable risk, but mitigated at the Washington Mine due to the mine’s proximity to a highway.

Readers should be cautioned that the Company’s decision to move forward with the construction of and production at the Washington Mine and the Buckeye Mine is not based on the results of any pre-feasibility study or feasibility study of mineral resources demonstrating economic or technical viability. The Company has undertaken exploration and development activities; and after taking into consideration various factors, including but not limited to: historical data, the exploration and development results to date, technical information developed internally, the availability of financing, and the starting costs as estimated internally by the Company’s management, the Company is of the view that the establishment of mineral reserves by way of a prefeasibility or feasibility study at this stage is not necessary and would be unduly costly, and that the most responsible utilization of the Company’s resources is to proceed with the development of the mines. Readers are cautioned that due to the lack of prefeasibility study or feasibility study, there is increased uncertainty and higher risk of economic and technical failure associated with the Company’s decision. In particular, there is additional risk that mineral grades may be lower than expected, and the risk that construction or continuing mining operations may be more difficult or more expensive than management expected. Production and economic variables may vary considerably, due to the absence of a detailed economic and technical analysis in accordance with National Instrument 43-101. Failure at the Washington or Buckeye Mine may materially adversely impact the Company’s overall ability to continue as a going concern.

 

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 epidemic or pandemic; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of mineralized material; shareholder and regulatory approvals; licencing and permitting; 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.

December 6, 2022

Silver Bullet Mines Closes Final Tranche of Financing

 

December 6, 2022 - Burlington, Ontario – On October 21, 2022 Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) announced a financing of Units (the “Financing”), whereby each Unit consisted of one common share and one common share purchase warrant. Each Unit is priced at $0.20 (twenty cents). Each common share purchase warrant has a 2-year term and is exercisable at $0.30 (thirty cents).

 

SBMI announces it has closed on the final tranche of the Financing, being $360,912. This represents 1,804,560 common shares and 1,804,560 common share purchase warrants. This together with the first tranche totals $807,912, an oversubscription from the announced target of $600,000. No insiders participated and there here are no finder fees payable on this tranche.

 

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.

November 3, 2022

Silver Bullet Mines Closes Financing and Takes Samples from Diabase

 

November 3, 2022 - Burlington, Ontario – On October 21, 2022 Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) announced a financing of Units (the “Financing”), whereby each Unit consisted of one common share and one common share purchase warrant. Each Unit is priced at $0.20 (twenty cents). Each common share purchase warrant has a 2-year term and is exercisable at $0.30 (thirty cents).

SBMI announces it has closed on the first tranche of the Financing, being $447,000. This represents 2,235,000 common shares and 2,235,000 common share purchase warrants. The Company expects further tranches to close in the near future. In relation to the Financing the Company paid commissions by way of 84,000 broker warrants and cash commissions of $16,800. Insiders are still blacked out by order of the Chair and were not allowed to participate in the Financing.

On September 26, 2022 the Company announced it had found high-grade gold, platinum, palladium, rhodium and osmium (the “Bonus Materials”) in concentrates resulting from 200 tons of material from the Buckeye Mine. To help identify the source and/or location of the Bonus Materials, and to help determine whether the Bonus Materials are limited to the Buckeye veins or are also present in the host materials around the veins, the Company recently took samples from the diabase at several locations near and in the Buckeye Silver Mine. “Diabase” is also known as “country rock” or “host rock”, and is the material hosting the many veins in and near the Buckeye Silver Mine.

The Company announces it has received assay results from an independent lab with respect to those samples taken from the diabase. Those results are being considered and will be disclosed to the public as soon as possible.

Finally, and as previously disclosed, the Company has encountered procedural challenges in completing its first audit as an operating company, including but not limited to cross-border documentation. Some of these challenges were caused by COVID-19 restrictions on travel to the mill and mine sites in Arizona, others by a local inexperience with audit processes. Management sees these challenges as transitory and procedural. There are no items in disagreement, whether material or not, between the auditors and the Company. Management and the board expect to be able to file the audited financial statements and the MDA for the year ended June 30, 2022 imminently.

 

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.

October 28, 2022

Silver Bullet Mines Update

 

October 28, 2022 - Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) on October 21, 2022 announced a financing of Units (the “Financing”), whereby each Unit consisted of one common share and one common share purchase warrant. Each Unit is priced at $0.20 (twenty cents). Each common share purchase warrant has a 2-year term and is exercisable at $0.30 (thirty cents). SBMI announces the Financing has received conditional stock exchange approval. The Financing will close in tranches as funds are received.

A trading blackout on all Company directors, management and consultants was imposed by the Chair of the board, and such blackout continues. This was because the Company has been provided with a steady stream of data and opinions from third parties with respect to adding a further processing facility to the existing mill in Arizona to be able to extract the recently discovered palladium, platinum, rhodium, osmium and high-grade gold, and at this time the Company is unable to determine which facts are material and which are not. This determination can only be made in the fullness of time as further facts are determined. The trading blackout is the most conservative approach to protecting the integrity of the markets and the reputations of the insiders.

During this period the Company has been working with its auditors in the normal course to prepare the Company’s audited financial statements and MDA for the year ending June 30, 2022 (the “Filings”). The likely imminent determination of which facts are material may impact the subsequent event notes for the Filings. Further, the Company has encountered procedural challenges in completing its first audit as an operating company, including but not limited to cross-border documentation. Some of these challenges were caused by COVID-19 restrictions on travel to the mill and mine sites in Arizona, others by a local lack of familiarity with audit processes. Management sees these challenges as transitory and procedural. There are no items in disagreement, whether material or not, between the auditors and the Company.

As a result, it is likely the Filings will not be filed on Friday, October 28th, 2022. The effect of this will likely be a management cease trade order, which is the same in substance as the blackout already imposed by the Chair. There is no impact upon any shareholder apart from directors, management and consultants. The Company anticipates being able to file the Filings very soon thereafter as the procedural challenges are remedied.

The Company waited as long as possible to disseminate this press release, to obtain as current input as possible from the auditors and the Company’s audit committee as to timing to effect the Filings.

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.

October 21, 2022

Silver Bullet Mines Financing for High-Grade Gold and PGMs

 

October 21, 2022 - Burlington, Ontario – On September 26, 2022 Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) disclosed it had found significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate. On October 18, 2022 SBMI announced a second round of assay results proving up the palladium, platinum, rhodium, osmium and gold in representative mineralized material from its Buckeye Silver Mine near Globe, Arizona.

To allow SBMI to exploit the palladium, platinum, rhodium, osmium and gold, in addition to the original silver targets, SBMI announces its intention to carry out a non-brokered financing of Units. Each Unit will be priced at $0.20 (twenty cents) and will comprise of one common share and one full 30-cent (thirty cents) warrant with a 24-month term, with each such warrant being exercisable into a common share (the “Financing”).

The target amount for the Financing will be $600,000 (six hundred thousand dollars), with the number of Units to issue as a result of the Financing being 3,000,000. Units will be allocated on a first come, first served basis although SBMI retains the right to accept, reject or modify subscription agreements as it sees fit. The Financing is subject to regulatory approval.

SBMI currently owns a gravity mill near Globe, Arizona that is fully functional for the extraction of silver. The use of proceeds from the Financing will be to determine what equipment will be required to augment that mill’s capabilities to also extract the other elements mentioned above. All of the existing mill will be retained. Other proceeds from the Financing will be for working capital.

 

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; the presence and quantity of minerals in the Company’s properties; 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.

October 18, 2022

Silver Bullet Mines Continues to Assay for High-Grade Gold and PGMs

 

October 18, 2022 - Burlington, Ontario – On September 26, 2022 Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) disclosed it had found significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate.

To help identify with greater precision the location of the source of the platinum, palladium, rhodium, osmium and gold, SBMI recently took samples directly from locations around the Buckeye Silver Mine and the Company’s mill site, including from crushed material, directly from the vein, from diabase samples from the wall rock and from tailings from the run of lower grade material. The location from which those samples were taken and their assay results are below:

Oct 18 V3.png

Samples from all locations above were taken to be as representative of the local mineralized material as possible. Samples taken from the crushed ore are by their nature representative of the source mineralized material.

In management’s opinion, this round of results provides further strong evidence for the conclusion that the Buckeye Silver Mine may host economic amounts of platinum, rhodium, palladium, osmium and gold, in addition to the original silver targets. Management has engaged third party engineers, metallurgists and geologists to assist in creating a new process flow sheet and in determining the nature of the mineralized material at the Buckeye Silver Mine. Without effecting selective disclosure, management has also had positive preliminary discussions with potential financiers, pending the delivery of the flow sheet and a rough budget.

QAQC

For each batch, Lone Pine Analytical of Phoenix, Arizona sampled two distinct samples (approx 200mg), digested, filtered, diluted and analyzed. For the digestion, the lab used [1mL HF: 4.5mL Nitric Acid: 4.5mL HCI]. The samples were digested in a microwave in sealed PTFE tubes where the temperature reached 200C with a total cycle time of 40 minutes. Bismuth (Bi) was used the internal standard. A three-point calibration, plotted through zero was used with excellent linear correlation for each element. Thus, the lab used an internal and external standards (instrument calibration). Chain of custody protocols were strictly observed. Lone Pine Analytical, as of September 11, 2022, is in the process of renewing its ISO /IEC-17025 lab accreditation with a scope for metals in soils and rocks.

Readers are cautioned that although management has made every reasonable effort to ensure the samples are as representative of the local mineralized material as possible, the samples above (apart from the crushed ore samples) are ultimately random by nature and may not be representative of the mineralization throughout the Buckeye Silver Mine.

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

 

For further information, please contact:

John Carter

Silver Bullet Mines Corp., CEO

cartera@sympatico.ca

+1 (905) 302-3843

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

Cautionary and Forward-Looking Statements

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

 

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; the presence and quantity of minerals in the Company’s properties; 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.

September 26, 2022

Silver Bullet Mines Corp. Discovery of Gold and Critical Mineral Palladium

 

September 26, 2022 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) has assayed, among other elements, significant quantities of palladium and gold in the mineralized material from its Buckeye Silver Mine in Arizona. These surprise discoveries are not factored into any of the Company’s internal financial projections. This mineralized material was taken from a newly exposed section at the Buckeye.

Palladium is currently trading at roughly USD$2,100 per ounce and gold is currently trading at roughly USD$1,650 per ounce. For reference below, SBMI notes that one ppm (part per million) is equivalent to one gram per ton. There are 28.34 grams in one ounce.

How The Gold and Palladium Were Found

The gold and palladium were discovered after SBMI processed roughly 60 tons of Buckeye Mine material at its 100%-owned mill, and then encountered challenges in pouring proper silver dore bars to satisfy the outstanding sample run order. An example of such challenges is in the picture below.

Silver Bullet 1 Septemeber 26, 2022.jpg

                                                      Recent dore bar from ore at the Buckeye Mine

To help identify the possible source of this, SBMI sent samples (the “First Batch”) from its concentrates to Lone Pine Analytical, a third-party lab, for further analysis. That analysis revealed elevated levels of palladium and gold, as per the chart below:

sbmi table 1.png

In response to these unusual values, SBMI will be undertaking referee sampling with another independent third-party ISO accredited lab.

“Those are astonishing results for the gold and palladium,” said A. John Carter, SBMI’s CEO. “To the best of our knowledge the only significant producer of palladium in the United States of America is Sibanye-Stillwater in Montana, so this is a possible game-changer, not just for SBMI but for mining in Arizona. We have heard anecdotal evidence of Pt-Pd production as a by-product of porphyry mining in the Globe area and have seen data from a local prospective Pt-Pd property, but we are still investigating what our results mean and we are considering what SBMI’s next steps will be.”

The Company believes the results above are a fair representation of the 60 tons of ore extracted from the Buckeye Mine.

SBMI’s In-House Assays

SBMI then took a batch (the “Second Batch”) of a further seven samples from various locations in the mill, representing roughly 140 tons of ore. SBMI’s assay team assayed those samples for silver only, following which the following unique identifiers were added to each sample:

  1. Head Feed 700 oz/Ton

  2. 100 gm 2503oz/Ton Conc

  3. #1 Table Cons. Original

  4. #1 Table Cons from Mill

  5. #2 Table Cons from Mill

  6. Tails

  7. Dorie Bead

 

Those titles were provided by SBMI’s assay team to Lone Pine Analytics. The leader of SBMI’s assay team, Mr. Robert Budd, collected and assayed those samples. SBMI has on prior occasions and on its website made disclosure of Mr. Budd’s credentials and QAQC processes, and will include these matters below.

Second Batch to Lone Pine Analytics

After being assayed for silver only by SBMI, the Second Batch was then sent to Lone Pine Analytical for further analysis of additional elements. The average values for Au and Pd of the 7 samples returned from Long Pine Analytics for the gold and the palladium were as follows:

chart proper.png

In response to these unusual values, SBMI will be undertaking referee sampling with another independent third party ISO accredited lab.

All of the roughly 200 tons of material were taken directly from the vein accessed at the lower drift. All 200 tons were taken and processed in the no