Mr. John Carter reports

SILVER BULLET MINES PROVIDES UPDATE ON DEBT EXTENSIONS AND MSHA WORK

Silver Bullet Mines Corp. has provided an update on the extension of outstanding notes and other matters.

During fiscal 2021, the company issued a note payable with a face amount of $319,575 denominated in United States dollars ($250,000 (U.S.)) as partial consideration for the purchase of the mill site in Arizona. The company has negotiated an extension of the maturity date of this note to Feb. 9, 2025. As consideration for the extension, the company has agreed to pay an extension fee of $20,000 (U.S.).

On June 30, 2024, a convertible note to an arm's-length third party in the amount of $600,000 became due. The lender has since advised it wishes to convert $25,000 of such notes into common shares of the company, at the preagreed price of 10 cents per share. The company and the lender are in continuing discussions with a view to determining a new due date for the remaining balance of such note. The company is reasonably optimistic it will reach commercially satisfactory terms with the lender.

The company continues its discussions with the owner of the 30,000-tonne stockpile with a view to creating a mutually beneficial relationship for the processing by Silver Bullet of such stockpile. Any capital expenditures on additions to the mill will depend upon the terms of such relationship.

Finally, the company advises that the field team in Arizona diligently continues with rockbolting in the Buckeye silver mine, as required by the Mine Safety and Health Administration.

We seek Safe Harbor.