Mr. John Carter reports

SILVER BULLET MINES CORP. REACHES TARGET UNDERGROUND AT WASHINGTON MINE IN IDAHO

Silver Bullet Mines Corp. has completed the first phase of underground development at the Washington mine in Idaho.

On Nov. 22, 2024, Silver Bullet announced it had engaged a contract miner to carry out underground and surface development and bulk sampling at the Washington mine. Much of the instructions given to the miner were based upon the contents of the Stoker report, a copy of which is available at Silver Bullet's website.

The portal has been collared, screened and rock bolted for safety, and the portal entrance has been timbered. The miner then advanced the 12-foot-by-12-foot adit over the initial 30 feet using short four-foot blasts to protect the integrity of the material at the brow of portal entrance. Having completed this, the miner then conducted seven- to 10-foot blast rounds to reach the targeted distance of roughly 90 feet, as set out in the Stoker report. The miner is making a 50 degrees turn to the east parallel to the historical silver zone and is continuing along the vein 40 to 50 feet. It will then set up a series of drill stations to document the exact orientation of the mineralization. When that is complete a smaller adit should be driven to expose the mineralization and start extracting the bulk sample.

The company is pleased with the miner's achievements which are consistent with the information in the Stoker report. The company is very confident in the accuracy of the contents of the Stoker report and the location of the silver zone.

The company plans to remove approximately 2,500 tons of material for processing, and to continue across strike to potentially intercept the historic Washington gold workings. This should also give access to the Berger gold vein and the Washington silver vein parallel structures believed to contain both silver and gold (see Silver Bullet news release of Nov. 22, 2024). The processing of the 2,500 tons will take place intermittently at a proximate third party mill.

Mine development includes underground infrastructure to support year-round mining. The company is currently constructing bays for equipment, storage, water supply and sump for drill water. The 12-foot-by-12-foot adit will serve as a haulage tunnel providing access to both the initial mineralized zone as well as the parallel zone. It will also allow for the use of much larger equipment supporting future vein development.

All permits and regulatory requirements have been received.

As part of routine proper QA/QC (quality assurance/quality control) process, samples from certain vein exposures have been sent to Silver Bullet's wholly owned assay facility in Globe, Ariz., as well as to a third party lab. Results are expected soon.

We seek Safe Harbor.