Silver Bullet Mines Corp. Announces Initial Order of Silver Concentrate and Attains Targeted Production Rate at Processing Mill

Rhea-AI Summary

Silver Bullet Mines Corp. (SBMCF) has achieved a significant milestone by shipping its first order of silver concentrate processed from the Super Champ mine in Arizona. The company has successfully reached and maintained its targeted production rate of 6-7 tons per hour at its 100% owned mill in Globe, Arizona.

The company currently has approximately 3,000 tons of material stockpiled at the mine and mill, representing about 60 days of processing capacity. SBMI is transitioning from processing lower-grade material to higher-grade material, which is expected to increase the silver grade in the concentrate. To support increased production, the company has purchased a larger excavator with double the capacity of the current rental unit and a larger well pump.

The company recently closed a financing on February 18, 2025, issuing 597,300 finders warrants with a three-year term, exercisable at sixteen cents to arm's length parties.

Positive

• First revenue generation from silver concentrate shipment
• Achieved target production rate of 6-7 tons/hour
• 60-day material stockpile (3,000 tons) secured
• Transitioning to higher-grade material processing
• Equipment capacity expansion with new excavator and pump

Negative

• Currently processing lower-grade material

Burlington, Ontario--(Newsfile Corp. - February 27, 2025) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ("SBMI" or "the Company") announces it has shipped its first order of silver concentrate processed from material from the Super Champ in Arizona. The Company expects further shipments to this same customer as further concentrate is generated, eventually reaching a goal of regular deliveries against regular payments.

John Carter, SBMI's CEO, said, "This revenue generation has been the goal since SBMI started work. The developments of the last few months, the success of our recently closed financing, this first shipping of concentrate, and the first generation of revenue is the cumulation of much hard work by so many people. The surprise gold values provide a large upside for the shareholders. We are confident that this will only get better from here."

At its 100% owned mill in Globe, Arizona, SBMI has reached and maintained its targeted production rate of six to seven tons per hour. In creating the concentrate SBMI processed the majority of the lower grade material from Super Champ and is moving to process the higher grade material. Management reasonably expects the silver grade in the concentrate to increase as the higher grade material is processed.

The Company has roughly 3,000 tons of material on the ground at the mine and at the mill, representing roughly sixty days of processing. A video of the mill in operation can be viewed at www.silverbulletmines.com.

To maintain and further increase production rate the Company has purchased a larger excavator with twice the capacity of the rental unit currently being used at the Super Champ for the removal of material. The Company has also purchased a larger well pump to provide additional water for the increase in volume required for the higher throughput of material at the mill. With the revenue generation milestone being reached the Company is also contemplating increasing the hours of operation at its mine and mill facilities.

With respect to the financing closed on February 18, 2025, the Company announces it issued 597,300 finders warrants having a term of three years exercisable at sixteen cents to arm's length parties.

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/242729

FAQ

What production rate has SBMCF achieved at its Globe, Arizona mill?

SBMCF has reached and maintained a production rate of 6-7 tons per hour at its Globe, Arizona mill.

How much material stockpile does SBMCF currently have?

SBMCF has approximately 3,000 tons of material stockpiled, sufficient for 60 days of processing.

What equipment upgrades has SBMCF recently made for production?

SBMCF purchased a larger excavator with double capacity and a larger well pump to support increased production volume.

What financing terms were announced in SBMCF's February 2025 warrant issuance?

SBMCF issued 597,300 finders warrants with a three-year term, exercisable at sixteen cents to arm's length parties.