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Silver Bow Mining (SBMT) reported that drill hole SBM26-09 intersected 0.82 meters of massive sulfide mineralization grading 8.20% copper equivalent (CuEq) at the Rainbow Block’s Black Rock Copper Vein.
The interval from 662.15 to 662.97 meters downhole averages 6.22% Cu, 207.1 g/t Ag and 0.27% Zn, with CuEq and AgEq calculated using assumed 90% recoveries and metal prices of $4.00/lb Cu, $25.00/oz Ag and $1.31/lb Zn. The company estimates true width at 50–60% of the downhole length but notes uncertainty because the upper vein contact was not preserved and core recovery in the overlying 1.95-meter interval was only 9%. The intercept lies about 30 meters below a historical Anaconda unmined copper-silver block; Silver Bow Mining does not treat those historical estimates as current Mineral Resources or Reserves. Assays from other vein systems in SBM26-09 are pending, and follow-up drill hole SBM26-10 is underway to test the vein up-dip.
Silver Bow Mining (SBMT) received U.S. Bankruptcy Court approval on September 4, 2026, for the sale of specified assets comprising the Jefferson County Metallurgical Complex under Section 363 of the U.S. Bankruptcy Code and completed the Initial Closing under its definitive asset purchase agreement.
Before the Initial Closing, the company funded approximately US$28.58 million into an escrow account to satisfy creditor obligations tied to the assets, including about US$4.27 million owed to Jefferson County, Montana, and about US$20.78 million owed to the Montana Department of Environmental Quality. Funds are expected to be released to creditors over several days as instructions are finalized, and Silver Bow has instructed the escrow agent to release amounts for specified obligations.
In exchange for directing release of escrowed funds, Silver Bow received a senior secured note from Montana Goldfields, guaranteed by Montana Tunnels Mining and secured by property at the Complex. The Initial Closing does not transfer ownership of the Complex, which is expected to occur at a Final Closing subject to customary conditions, including shareholder approval of common shares underlying contingent value rights and approval by NYSE American.
Silver Bow Mining (NYSE American: SBMT) reported new high-grade assay results from drill holes SBM26-03 and SBM26-04 at the Rainbow Block Project in Butte, Montana, from its ongoing 25,000-foot Phase I diamond drilling program. Key Badger Vein results from SBM26-03 include 4.0 m grading 994.2 g/t AgEq (309.0 g/t Ag, 1.85 g/t Au, 9.98% Zn, 5.75% Pb), including 2.3 m at 1,586.1 g/t AgEq (455.0 g/t Ag, 2.76 g/t Au, 17.13% Zn, 9.71% Pb). The intercept lies about 125 m beyond the current Inferred Mineral Resource (MRE) boundary and 125 m from a prior Badger intercept of 651.0 g/t AgEq over 3.7 m in SBM26-01.
SBM26-04 returned 2.0 m at 693.1 g/t AgEq from the Jessie Vein and 1.6 m at 502.0 g/t AgEq from the State Vein, plus several additional mineralized veins, all outside the current MRE. Rainbow Block currently hosts an Inferred Mineral Resource of 10.4 Mt at 507.4 g/t AgEq, and Silver Bow Mining plans an updated MRE in the first half of 2027 incorporating the ongoing drilling, subject to data validation.
Silver Bow Mining (NYSE American: SBMT) signed a definitive asset purchase agreement to acquire the Jefferson County Metallurgical Complex in Montana from Montana Goldfields and Montana Tunnels Mining through a Chapter 11 / Section 363 process. The Complex includes separate 15,000‑tpd and 1,000‑tpd milling and flotation circuits, extensive infrastructure, and the historic Montana Tunnels M‑Pit across about 5,000 acres. The 1,000‑tpd circuit is expected to be suitable, with upgrades, for processing high‑grade mineralization from Silver Bow’s Rainbow Block inferred resource of 11.48 million tons grading 14.8 opt AgEq, containing 170 million AgEq ounces.
At Initial Closing, Silver Bow will fund about US$28.6 million to satisfy specified creditors, including roughly US$4.27 million to Jefferson County and US$20.8 million to the Montana DEQ, in exchange for a senior secured note over the Complex assets. At Final Closing, subject to shareholder, NYSE American, Bankruptcy Court and other approvals, Silver Bow will issue 3.5 million contingent value rights (CVRs), each convertible into one common share 180 days after Final Closing, plus up to 11.5 million additional CVRs to Montana Goldfields tied to future M‑Pit milestones. The deal also grants MTGF a 2% net smelter return royalty on future M‑Pit production (with a US$10 million buyback right), toll‑milling rights and net profits interests on certain future activities. Post‑closing, Silver Bow commits to US$8 million of technical and regulatory work, including a feasibility study on the M‑Pit Expansion.
Silver Bow Mining (NYSE American: SBMT) has re-established underground access at its high-grade Rainbow Block Silver-Zinc Project in Butte, Montana, by completing rehabilitation of the historic Chief Joseph Portal. This is described as the first underground exploration activity in the district in about 35 years.
The portal, about 12 by 14 feet, reconnects to the Chief Joseph underground decline at the eastern Rainbow Block. The company will now rehabilitate the decline, then install underground drill stations on the 200 Level to support resource definition and expansion drilling, aiming for shorter holes and higher efficiency.
Surface preparation has also begun for a new 16.5 by 16.5-foot Rainbow Portal to further expand future underground access. MSHA has issued Federal Mine ID No. 24-02827, authorizing underground activities. Rainbow Block hosts an inferred resource of 11.48 million tons grading 14.8 opt AgEq, based on a 4 opt AgEq cut-off and 90% assumed recoveries.
Silver Bow Mining (NYSE American: SBMT) appointed Doug Stiles as President, reporting to Chairman and CEO Travis Naugle. Stiles has served as Vice President of Regulatory and External Affairs since February 2026 and brings more than 25 years of experience permitting, developing, operating, and remediating Montana mining projects.
According to Silver Bow Mining, his role aligns technical, regulatory, operational, and stakeholder engagement functions as the company accelerates underground development of its flagship Rainbow Block Project, located on private patented lands under Montana Department of Environmental Quality jurisdiction. A Montana native and Montana Tech graduate, Stiles previously held senior roles at Hecla Mining and Revett Silver, leading permitting, compliance, mine closure, and legal-defense efforts for projects including Rock Creek, Montanore, and Troy Mine.
Silver Bow Mining (NYSE American: SBMT) will be added to the Russell 3000 and Russell MicroCap Indexes, effective June 26, 2026. The company, which completed its IPO on May 1, explores critical minerals in the Butte Mining District of Montana.
Silver Bow Mining (NYSE American: SBMT) reported initial assay results from the first two holes of its 25,000-foot 2026 drill program at the Rainbow Block Project in Butte, Montana.
Drill holes SBM26-01 and SBM26-02 intercepted multiple high-grade silver, gold, zinc, lead, and indium veins, including previously unknown veins, up to 2,270 feet beyond the current inferred Mineral Resource Estimate footprint.
Silver Bow Mining (NYSE American: SBMT) received Authorization to Proceed from the Montana DEQ for Amendment 2 to its Rainbow Block exploration license in Butte, Montana.
The approval enables expanded underground development, bulk sampling, and surface and underground drilling, backed by a $2.19 million reclamation surety bond and an effective timeline through 2029.
Silver Bow Mining (NYSE American: SBMT) signed a contract with MES Mining to rehabilitate and modernize the Chief Joseph portal and underground decline in Butte, Montana.
This work will restore safe access to historical workings, support new underground exploration drill platforms on the Rainbow Block, and is fully permitted under Exploration License #00857, Amendment 1. Mobilization is expected before end of May, with rehabilitation starting in June.