Silver Bow Mining Corp. (SBMT) common shares are reported as beneficially owned by Arbiter Partners Capital Management LLC and Paul J. Isaac, identified as Manager. Both report 1,538,900 shares, or 5.2% of the class. Arbiter acts as investment adviser for managed accounts, including accounts for affiliated funds, Isaac and family members. Isaac reports sole voting and dispositive power over 748,773 shares and shared power over 790,127; Arbiter reports shared voting and dispositive power over 1,538,900 shares. None of the managed accounts holds more than 5% of the class.
Silver Bow Mining Corp. (SBMT) CEO and director Charles Travis Naugle exercised 21,899 warrants on October 19, 2026, at a $4 exercise price; his direct warrant position afterward was zero. On the same date, a 401(k) plan acquired 21,899 common shares at $4 per share and held 65,698 shares afterward. Direct common-share holdings were reported at 151,799 shares.
Silver Bow Mining Corp. (SBMT) amended its asset purchase agreement with sellers Montana Goldfields, Inc. and Montana Tunnels Mining, Inc., alongside buyer Silver Bow Tunnels Corp. Effective October 14, 2026, the amendment sets the Outside Date at 60 days following delivery by the sellers to the buyers of MTMI’s audited financial statements for its last two fiscal years in a form satisfactory for inclusion in the proxy statement.
The sellers will use reasonable efforts to produce those statements no later than October 31, 2026. After delivery, Silver Bow Mining will prepare and file a preliminary proxy statement as promptly as reasonably practicable and within 5 Business Days. The proxy relates to a shareholder meeting seeking approval for the issuance of CVRs and the underlying common shares. Other provisions of the original agreement remain in effect.
Silver Bow Mining Corp. revised the milestone for 200,000 performance warrants granted to Chief Executive Officer C. Travis Naugle. The original warrants cover up to 1,400,000 common shares at US$3.10 per share; 1,200,000 had vested. The replaced preliminary economic assessment milestone was tied instead to the September 8, 2026 initial closing of the Jefferson County Metallurgical Complex acquisition and a September 21, 2026 term sheet with Ocean Partners UK Limited for a potential funding and credit support package of approximately US$88 million and ten-year zinc and lead concentrate offtake arrangements. The milestones were deemed achieved October 2, 2026, and the 200,000 warrants will vest and become exercisable upon required NYSE American approval.
The board also approved 2,000,000 new performance warrants for Naugle, subject to NYSE American approval and any required shareholder approval. No common shares may be issued before the shareholder-approved grant date. The warrants vest upon milestones, including a production test requiring underground mining from the Rainbow Block and processing into concentrate, at least 70% of the production plan for the three-month period and 50% in each month, accepted concentrate deliveries, and no single underground ore production stoppage over 10 consecutive days except maintenance scheduled in the production plan. The deadline is the fifth anniversary of the grant date.
Silver Bow Mining Corp. (SBMT) entered into a secured note with Ocean Partners UK Limited for a $5.0 million principal amount, purchased for $5.0 million in cash. The note matures March 31, 2027, and bears interest at the 12-month secured overnight financing rate plus 6.75% per annum, payable monthly beginning November 1, 2026. It is secured by a first-priority senior security interest in the $28.58 million secured promissory note issued by Montana Goldfields, Inc. to Silver Bow; Silver Bow assigned its rights under that note to the investor.
If the final closing of Silver Bow’s acquisition of the Jefferson County Metallurgical Complex, including the Montana Tunnels Mine, occurs before maturity, principal and accrued unpaid interest will be credited against the tranche A draw under a concentrate prepayment facility to be entered into concurrently with that closing. Otherwise, principal and accrued unpaid interest are due in a lump sum on the maturity date. Proceeds must be used solely to advance the Rainbow Block project and, when acquired, the Complex. Separately, the Compensation Committee authorized Chief Executive Officer C. Travis Naugle’s annual salary to increase to $350,000 effective May 1, 2026, a $250,000 one-time discretionary cash bonus, and an annual $100,000 payment for his Executive Chairman role effective October 3, 2026.
Silver Bow Mining Corp. granted Travis Naugle 3,648 restricted stock units under its long-term incentive plan on September 30, 2026. All RSUs vest upon the earlier of a change in control of the company, a sale of a majority of its assets, or Naugle’s departure from the Board.
Silver Bow Mining Corp. director Steven Douglas Durbin Jr. reported a grant/award of 3,648 common shares on September 30, 2026; the award is identified as restricted stock units (RSUs). His reported direct common-share position after the award was 395,870 shares. The RSUs will vest and become convertible into common shares upon the earliest of specified events. A separate indirect holding of 845,353 common shares is listed through Quail Bend Mineral Partners LLC. Durbin is the LLC’s manager and exercises voting and dispositive power over those shares, while disclaiming beneficial ownership except to the extent of his pecuniary interest.
Silver Bow Mining Corp. director David Daisel McMullin acquired 2,850 restricted stock units on September 30, 2026, reported at $0 per share. His reported resulting directly held position was 137,861 Common Shares. All 100% of the RSUs will vest and be convertible into Common Shares upon the earliest of a change in control, a sale of a majority of the issuer’s assets, or McMullin’s departure from the board.
Silver Bow Mining Corp. director Quinton Todd Hennigh was granted 2,850 Restricted Stock Units (RSUs) on September 30, 2026. The reported direct holdings following the transaction were 221,518 Common Shares. All of the RSUs will vest and be convertible into Common Shares upon the earliest of a change in control, a sale of the majority of the issuer’s assets, or Hennigh’s departure from the board.
Silver Bow Mining Corp. (SBMT) reports that CEO and director Charles Travis Naugle received an award of 3,648 Restricted Share Units (RSUs) on September 30, 2026. The RSUs will vest and be convertible into common shares upon the earliest of a change in control, a sale of a majority of the company’s assets, or Naugle’s departure from the board. His reported direct position after the award was 151,779 shares; he also reported 43,799 shares held indirectly through a 401(k) plan.