Silver Bullet Mines Continues Production at its Arizona Mill

Rhea-AI Summary

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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198896

FAQ

What is the latest announcement from Silver Bullet Mines Corp. (SBMCF)?

Silver Bullet Mines Corp. (SBMCF) has announced the continuation of operations at its mill near Globe, Arizona, with high-grade mineralized material.

What are the recent assay results from the Buckeye Silver Mine mentioned in the press release?

Recent muck assays from the Buckeye Silver Mine ran as high as 8 ounces per ton, and vein assays reached as high as 480 ounces per ton silver.

What does Silver Bullet Mines Corp. (SBMCF) plan to do with the stockpiled material?

SBMCF intends to process the stockpiled material into dore bars after conducting assays throughout each production run.

What agreements has Silver Bullet Mines Corp. (SBMCF) reached regarding land hosting and debenture payments?

SBMCF has reached extension agreements for land hosting payments and debenture deadlines, providing more time for fund availability and payment.

Who are the key contacts for further information about Silver Bullet Mines Corp. (SBMCF)?

For further information, you can contact John Carter, CEO of Silver Bullet Mines Corp., at cartera@sympatico.ca or +1 (905) 302-3843, and Peter M. Clausi, VP Capital Markets, at pclausi@brantcapital.ca or +1 (416) 890-1232.