15:57:40 EDT Sun 21 Apr 2024
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Silver Bullet continues Arizona mill production

2024-02-22 14:12 ET - News Release

Mr. John Carter reports

SILVER BULLET MINES CONTINUES PRODUCTION AT ITS ARIZONA MILL

Silver Bullet Mines Corp. is continuing operations at its mill near Globe, Arizona, following the completion of work mandated by MSHA. This work was completed on schedule, leaving Silver Bullet with a MSHA-compliant operational mill.

Silver Bullet has stockpiled Buckeye silver mine mineralized material at the mill site. Recent muck assays from the Buckeye ran as high as eight ounces per tonne and vein assays as high as 480 ounces per tonne silver (see press release of Feb. 5, 2024). Silver Bullet intends to initially run the stockpiled material with assaying to be done throughout each run's production process, using the company's on-site assay lab. The company then intends to process the resulting material into dore bars.

Based on the production data and assay results, Silver Bullet will then establish daily, weekly and monthly production targets and intends to complete outstanding orders.

The company has a full program that includes mining the Buckeye silver mine, processing dore bars and carrying out a detailed exploration plan, subject to availability of funds.

The company also announces it has reached an extension agreement with the owner of the lands hosting Silver Bullet's mill, allowing for certain funds to be paid by Silver Bullet on or before Aug. 9, 2024. Silver Bullet has also reached an extension agreement with the holder of the debenture initially due Feb. 6, 2024, which debenture has been extended to June 30, 2024.

We seek Safe Harbor.

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