Mr. John Carter reports

SILVER BULLET MINES CORP. (SBMI) CONFIRMS ANOMALOUS PLATINUM GROUP ELEMENTS (PGE) IN SOME SAMPLES ON ITS RICHMOND BASIN, ARIZONA PROPERTY

Silver Bullet Mines Corp. has received the assay results from a third party independent (ISO 17025-2017) accredited lab, American Assay Laboratories. These are the check assays for material tested and reported in September and October, 2022. These results confirm the presence of anomalous platinum group elements (PGE) values in some of the material.

Quality assurance/quality control

A total of six samples, six duplicates, four standards and one blank sample were assayed. The samples were collected by the mine crew from various material at the Buckeye mine, and were crushed and ground to a powder at the company's assay lab with the powder retained in marked sample bags. A portion of each of these bags was retained, and a portion was inserted in another labelled bag and then delivered by a courier in Globe, Ariz., to American Assay Laboratories in Nevada. The blank and standards were included as well. American Assay Laboratories used a similar assay finish procedure as the first lab, Lone Pine, namely ICP-MS. Lone Pine used a four-acid dissolution of a 200-milligram sample, and American Assay Laboratories used a sodium peroxide fusion of a five-gram sample.

To further confirm the presence of platinum, a repeat fire assay was undertaken. For this method, the sample was fused in a ceramic crucible with litharge, sodium carbonate, borax and flour at 1,080 C. From this, a 25- to 50-gram lead button was cupelled in a magnesite cupel at 900 C for 60 minutes. The silver bead was then parted with concentrated nitric acid followed by hydrochloric acid to generate chlorine and nitrosoyl chloride that dissolved the PGM sponge. Digested samples were read on an ICP-AES.

The PGE results obtained from American Assay Laboratories were in line with a 1995 historic report and that of Lone Pine.

American Assay Laboratories assayed for silver, gold, iridium, osmium, palladium, platinum, rhodium and ruthenium (see the attached table).

Based on these results, the company plans to continue its evaluation of the economic potential of PGE on the Buckeye mine. Samples within the Buckeye mine upper adit hydrothermal vein system are in the process of being sent to Dr. A. Macdonald at Laurentian University for further analysis, and a selective sampling program is to be initiated. Further testing will be done using ICP-MS, as well as NAA (nuclear activation analysis), when warranted.

Robert G. Komarechka, PGeo, an independent consultant, has reviewed and verified Silver Bullet's work referred to herein, and is the qualified person for this release.

The company also announces that, due to time commitments on other projects, J. Birks Bovaird has resigned from the board of directors. The company thanks him for his tireless commitment to the shareholders.

The company also announces the appointment to the board of John S. MacKenzie, CPA, CA. Mr. MacKenzie will also serve as the board's chair.

Mr. MacKenzie is currently chief financial officer and a founding shareholder of Critical Minerals Americas Inc., a private exploration-stage mining company in Alberta. He is also CFO and a founding shareholder of Evergreen Environmental Inc., engaged in the anaerobic digestion of organic waste and production and sales of renewable natural gas.

In the past, Mr. MacKenzie was for 13 years the chief executive officer of international heavy jet cargo airline AllCanada Express (ACE), and has since occupied both C-suite and consulting positions with various mining, aviation and technology companies. He has extensive financing, lease, purchase and sales experience over dozens of transactions and hundreds of millions of dollars of equipment.

Mr. MacKenzie also has 10 years of public accounting experience with Clarkson Gordon/Ernst & Young.

We seek Safe Harbor.