Mr. A. John Carter reports

SILVER BULLET MINES CORP. CLOSES FINANCING

Silver Bullet Mines Corp. has closed on its debt financing, previously announced on Aug. 11, 2022.

The financing is with Silver Bullet's largest institutional shareholder, pursuant to which Silver Bullet has borrowed $650,000 from the lender for an 18-month term. The financing provides for an 8-per-cent annual interest rate and a conversion feature, whereby upon conversion, the loan may convert into 2,166,667 units at an effective price of 30 cents per unit. This is at a premium to the current market price. Each unit is composed of one common share and one common share purchase warrant exercisable at 35 cents for a four-year term.

"Management and the board have been working on this for a while," said Silver Bullet's chief executive officer, A. John Carter. "We believe this to be very attractive for the lender and friendly to our shareholders."

Silver Bullet also reports that Sepro Mineral Systems Corp., which assisted in the design of parts of Silver Bullet's mill in Arizona, is currently on site and is assisting the company in fine-tuning various components of the mill. The ramp-up using lower-grade material continues.

We seek Safe Harbor.