Mr. John Carter reports
SILVER BULLET MINES INTERCEPTS VEIN IN ARIZONA
Silver Bullet Mines Corp. has intercepted the targeted vein behind the historical Treasure Room at its Buckeye silver mine. This interception occurred on schedule and within SBMI's budget. To intercept the vein SBMI rehabilitated, extended, screened and bolted the upper development drift. The material being removed is being deposited in specific locations for future evaluation.
SBMI next intends to drift along the vein to an area believed to contain higher grade mineralization (see page 8 of the Geologic Report dated January 8, 2021). The Company believes this target area to be approximately 200 feet from where SBMI recently intercepted the vein.
SBMI intends to carry out multiple daily assays of the materials referred to above at its assay facility at its millsite. The mill is ready to recommence processing immediately upon receipt of mineralized material from the Buckeye. The assay results are intended to inform the geologic team and not all such results will be disseminated.
In its December 15, 2022 press release, SBMI advised third party geologic consultants would be providing the Company with a report including observations, comments, and recommendations, based upon their November 29 - December 14, 2022 site visit to Arizona. They inspected the third-party independent lab used for sample testing, visited the Buckeye Mine site, visited the Company's millsite, and visited the Black Copper and Helena occurrences, both of which are situated on SBMI's Black Diamond property and are referred to in the January, 2021 Geologic Report.
Those geologic consultants also carried out a brief initial re-inspection of NQ core drilled at the Buckeye Mine by a previous optionee. This re-inspection has revealed coarse grained gabbronorite phases containing magnetite disseminations and thin bands within an area previously mapped as diabase. Small intervals containing olivine phenocrysts were also noted. These rocks may have potential for PGM mineralization. Further examination is being undertaken on these in situ rocks, the core, the Black Copper and the Helena occurrences. Samples from each has been sent to a third-party accredited lab for analysis and further work is ongoing. The Company can find no evidence of any PGM testing having previously been undertaken on this core or the rock labelled as diabase.
Finally, contact with various mineralogical and geochemical labs is ongoing to resolve metallurgical and refractory issues encountered while trying to pour dore bars from the Buckeye Mine material.
Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI's work referred to herein, and is the Qualified Person for this release.
We seek Safe Harbor.
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