SILVER BULLET MINES CORP - SBMCF STOCK NEWS

Silver Bullet Mines Corp. (SBMI) has entered an agreement to process high-grade mineralized material from a past-producing silver mine near its Buckeye Silver Mine in Arizona. The company has begun processing the material into saleable products, generating revenue. Key points:

- Initial 200-pound test run yielded an average head grade of 12.0 ounces per ton silver with over 90% recovery
- 500-pound sampling program showed assay values as high as 45.4 ounces per ton
- Six samples from the exposed vein returned assays between 10.0 and 45.6 oz Ag/t
- SBMI plans to process 50 tons per day, producing dore bars and high-grade concentrate
- The company continues work at its Buckeye Silver Mine, upgrading ventilation and conducting required rockbolting

Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) has signed a contract for underground mining at its Washington Silver Mine in Idaho. Mining is set to begin in early fall 2024, with plans to extract approximately 2500 tons of silver mineralized material. The company expects the material to contain gold credits as well, targeting a zone that previously yielded 44 oz/ton silver and 0.1 oz/ton gold in a 1980s bulk sample.

SBMI has also made progress at its Buckeye Silver Mine in Arizona, where ground support work is nearing completion. Mining from the higher grade Zone1 is expected to commence in the coming weeks, with processing to be done at the company's mill in Globe, Arizona.

The company cautions that its decision to proceed with production at the Washington Mine is not based on a pre-feasibility or feasibility study, which may increase economic and technical risks.

Silver Bullet Mines Corp. (SBMI) provided updates on its Washington Mine property in Idaho and announced changes to its board and financing plans:

- Preparing for mining at the Washington Mine, a historical high-grade gold/silver producer

- Appointed Kerem Usenmez, an experienced mining engineer, to the board of directors

- Plans to start production at 50 tons per day in the coming months, targeting a zone with reported grades of 44 oz/ton silver

- Will extract ~2,500 tons of high-grade material to stockpile before shipping to a mill

- Intends to issue a convertible debenture up to $1 million to finance operations, with a lead order of $300,000 from existing shareholders

- The debenture will have a 3-year term, 12% annual interest, and be convertible to shares at $0.10-$0.14 depending on the period

Silver Bullet Mines (SBMI) is nearing completion of testing a 350-ton stockpile of material from a third party's past silver mine. The material was processed at SBMI's mill in Globe, Arizona, producing silver dore bars weighing 2551.1 grams (90 ounces) and 2834.9 grams (100 ounces). The company is also progressing with rock bolting at the Buckeye Silver Mine, having completed over 400 feet, and expects to speed up as they move out of difficult drilling conditions. SBMI aims to determine the economic feasibility of processing the remaining 30,000 tons of material or potentially acquiring the third-party site.

Silver Bullet Mines (TSXV: SBMI, OTCQB: SBMCF) has successfully closed a debenture financing amounting to $940,000 as of May 14, 2024. A commission fee of $6,450 was paid, and 53,750 broker warrants were issued. The funds will be used to advance operations at the Buckeye Silver Mine in Arizona, commence work at the Washington Mine in Idaho, and for general working capital. Progress at the Buckeye Silver Mine is on schedule and within budget. The company is also processing material from a third-party historical mine site and plans to publish more data soon. Additionally, SBMI extended a previous debenture, now due June 30, 2024, with an 11% annual interest rate.

Silver Bullet Mines Corp. has begun processing third-party silver material at its Arizona plant, sourced from a property with high-grade silver ores. Initial results show promising numbers with efficient processing methods, potentially leading to a cost-effective production of silver bars. The company is also evaluating the property hosting the material for potential acquisition. SBMI is utilizing its efficient mill and assay complex to generate revenue while preparing for mining at Buckeye Silver Mine. The PR highlights the positive impact on production efficiencies and revenue generation for SBMI.

Silver Bullet Mines Corp. (SBMCF) announces a strategic business agreement with Countryman Investments , providing financial stability and mining opportunities. The Agreement includes issuing a convertible debenture up to $1,000,000.00 with detachable warrants. Countryman's principal, Mr. Dave Richardson, joins SBMI's advisory board. The Agreement aims to support SBMI's operations at the Buckeye Silver Mine in Arizona and the Washington Mine in Idaho.

Silver Bullet Mines Corp. (SBMCF) announces the continuation of operations at its mill near Globe, Arizona, with high-grade mineralized material. The company plans to process the material into dore bars, establish production targets, and fulfill orders. Extension agreements have been reached for land hosting and debenture payments. SBMCF is focused on mining, processing, and exploration.

Silver Bullet Mines Corp. (SBMCF) announces assay results from its last blast prior to MSHA inspection and training, indicating high-grade silver mineralization. The company has seen an increase in the grade of the muck assays and expects this to continue. MSHA training has been completed and approved, with plans to commence production upon the necessary changes. The company is pleased with the improvement in head grade at the mine and the successful completion of MSHA training.