Mr. John Carter reports

SILVER BULLET MINES CORP. ADVANCES MINING ACTIVITY AT WASHINGTON MINE IN IDAHO

Contract mining has commenced at Silver Bullet Mines Corp.'s Idaho Washington mine.

The company has signed a contract with a contract miner to complete the underground development and bulk sampling at the Washington mine. The miner has extensive experience working with high-grade vein operations which appears to management to be ideal for the Washington mine. The Washington mine was historically a high-grade gold mine, whose silver zones were blocked out but never mined (see new release dated Dec. 9, 2021).

Silver Bullet site management and the miner are at site and have commenced site improvements and progressing toward production. The zone the company is initially targeting (the target zone) is the historic area last tested in the 1980s. The results from a bulk sample taken by the previous owner and processed by Hecla Mining from the target zone ran 44 ounces silver and 0.1 ounce gold per ton (see news release dated Aug. 26, 2024). Subsequent random sampling completed by Silver Bullet from various locations underground including the target zone and confirmed by Montana Technical University ran 58.5 ounces per ton silver. These assays were completed by a third party accredited lab.

The miner has mobilized its equipment and has commenced activity to access the target zone, which management believes to be 80 feet from the portal opening. Drilling of the pilot hole has been completed. The miner is now preparing the rock face of the portal for timbering and outlining the portal opening. The miner will then drive a 12-by-12-foot adit into the rock face parallel to the target zone and turn into it at contact.

Once the 80-foot adit has been opened and the portal timbered, the miner should then commence taking a bulk sample for processing, with the goal of that bulk sample being at least 2,000 tons. It is unclear when that will commence as it depends upon other matters including the condition of the material underground. It is expected that such bulk sample can be taken within two months from when it begins.

Further bulk sampling would then continue to connect the new workings with the old Washington gold material. The new workings are also intended to give access to the Lindgren gold/silver documented mineralized material and the historic Berger vein crosscut.

The surface road to the parallel structure known as the Berger vein is now complete which will better enable the company to develop the underground workings. Silver Bullet site personnel believes it has found where that vein comes to surface.

Silver Bullet believes it has discovered another high-grade gold/silver zone parallel to the target zone as well as the location of a possible extension of the target zone. No mining has been done below the mine's 150-foot level, and Silver Bullet intends to mine from that level up to surface. Historic sampling and testing indicates a probability the target zone continues below that 150-foot level, and could host both high-grade gold and silver.

The Stoker report containing historical details is filed on the company's website.

Silver Bullet will continue to provide updates as activity progresses.

We seek Safe Harbor.