Mr. John Carter reports

SILVER BULLET MINES CORP. NEW AUDITORS AND EXTENSION OF OVERSUBSCRIBED FINANCING

Silver Bullet Mines Corp. has received an extension to close on the final tranche of its previously announced financing. The company has closed on two tranches already in the financing and has outstanding subscription agreements in hand. The total amount when adding the cash from those two tranches and the outstanding subscription agreements is $2,518,903.

The TSX Venture Exchange has granted an extension to April 1, 2022, to allow Silver Bullet to physically gather all payments for its outstanding subscription agreements. This is purely a logistical issue. There will be no new subscription agreements in the financing.

"We thank the shareholders for their continued faith in our business plan and in our ability to execute on it," said A. John Carter, Silver Bullet's chief executive officer. "The funds raised in this financing have been budgeted to put the Buckeye mine into production, to complete our mill and to advance the Washington mine in Idaho in the near term to where it can be ready for mineral extraction."

The oversubscribed total represents 6,297,258 units, with each unit priced at 40 cents. Each unit consists of one common share and one full 60-cent warrant with a 24-month term, with each such warrant being exercisable into a common share. There is no acceleration clause on such warrants.

The financing had an original minimum-maximum of $500,000 and $2-million, respectively. The financing was oversubscribed by more than 25 per cent of the original maximum.

In connection with the financing, a total of 79,130 broker warrants were issued as referral fees to registrants, with such warrants having the same characteristics as those issued in the financing. A total of $73,352 was also paid in cash as referral fees.

The strength of the financing enables Silver Bullet to implement additions to its mill in Arizona to increase recoverability. The modular nature of the mill allows such additions to be made relatively quickly. Management is of the opinion that the positive results of such improvements justify a minor delay to the start of processing material from the Buckeye mine.

Silver Bullet also announces that Grant Thornton LLP has been appointed as the company's new auditor, effective March 22, 2022, replacing McGovern Hurley LLP.

Reporting notices prepared in accordance with National Instrument 51-102 by the former auditor, the successor auditor and the company will be filed on SEDAR.

There are no disagreements or consultations (as those terms are defined in NI 51-102) in connection with the change of auditor nor have there been any reservations or modifications in the former auditor's reports on the company's financial statements relating to the period during which it was auditor.

No reportable event, as defined in NI 51-102, has occurred in connection with the audit of the most recently completed fiscal year of the company, nor any period from the most recently completed fiscal years of the company for which McGovern Hurley issued an audit report and the date of the notice.

The termination of McGovern Hurley and appointment of Grant Thornton as auditor of the company were considered and approved by the board of directors of the company.

Finally, Silver Bullet announces the resignation of Ronald Wortel from his officer position with the company. He remains a member of the board of directors.

We seek Safe Harbor.