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Silver Bullet Mines Corp
Symbol	SBMI
Shares Issued	66,697,522
Close 2024-01-09	C$ 0.10
Market Cap	C$ 6,669,752
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Silver Bullet working on minor changes at Buckeye mine

2024-01-09 09:21 ET - News Release

Subject: No Subject! Word Document File: '\\swfile\EmailIn\20240109 061138 Attachment 01 09 update at mill and mine.docx' Silver Bullet Provides Operational Update in Arizona and Announces Second Tranche of Financing January 9, 2024 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI and OTCQB:SBMCF) ('SBMI' or 'the Company') is pleased to provide an update on mine and mill operations in Globe, Arizona. As part of the normal course mining procedures, both the federal Mining Safety and Health Administration (MSHA) and the state Mine Inspector completed their respective first mine inspections at the Buckeye Silver Mine on December 21 and 22, 2023, resulting in a request to make minor changes to the mine site. No major changes were requested. These minor changes are underway. SBMI has been assigned both a mine and mill number from (MSHA) and the state Mine Inspector. SBMI's first mine safety report filed with MSHA is currently under review and a response is anticipated in the near future. This regulatory step represents a significant move forward as SBMI transitions from a development company to commercial production. Upon completion of the minor changes to the Buckeye Mine site, SBMI's plan is to continue mining in Zone1, to muck out the mineralized material, to truck that material to the mill, and to process the material through the mill resulting in commercial production. It is believed the mineralized material from Zone1 will consist of higher grade silver material. The main reason for this belief is the assay results from that area, which include the December 11, 2023 results of the concentrates averaging 24.2 ounces per ton (829.7 grams/tonne) silver, with the high grade line on the shaker table then assaying at 334 ounces per ton (11,451.5 grams/tonne). The Company also relies on the high grade silver results reported in its November 11, 2023 press release, and upon other internal assay results which have not been disclosed. As previously disclosed, the Company continually runs its own production assay lab and not all assay results, whether lower or higher than those above, have been or will be disclosed. There is some lower grade material already stockpiled at the mill, ready to be blended with the anticipated higher grade material. SBMI also announces it has closed the second and final tranche of the non-brokered financing (the "Financing") previously announced on October 25, 2023. The second tranche of the Financing consisted of $279,085 by way of units (each, a "Unit") priced at $0.12 cents per Unit, resulting in the issuance of 2,325,709 Units. Each Unit consisted of one common share and a full warrant exercisable into one common share at $0.17 for a term of 2 years. There is no acceleration clause on these $0.17 warrants. One insider participated in the Financing. Finders fees paid to arm's length parties were $2,604 in cash and 21,700 broker warrants. For further information, please contact: John Carter Silver Bullet Mines Corp., CEO cartera@sympatico.ca +1 (905) 302-3843 Peter M. Clausi Silver Bullet Mines Corp., VP Capital Markets pclausi@brantcapital.ca +1 (416) 890-1232 Cautionary and Forward-Looking Statements This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct. By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI's properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.