Mr. John Carter reports

SILVER BULLET MINES ACQUIRES KING TUT GOLD MINE IN ARIZONA

Silver Bullet Mines Corp. has noted the opportunistic arms'-length acquisition of the past-producing high-grade gold mine known as the King Tut mine in Arizona. The company acquired King Tut for very low cash terms with no shares to be issued to the vendor, and no royalty of any kind was granted. No finders' fees were paid.

The company had a distinct advantage over any other potential purchaser as it has direct access to on-the-ground knowledge and experience at King Tut. Ron Murphy (the company's vice-president of mining) and his brother Dan Murphy, the mill manager for the company at its mill in Globe, Ariz., mined King Tut as part of a team during the 1980s. They say and the company believes they extracted and processed mineralized material at King Tut, and sold the resulting gold. Silver Bullet has not been able to find any documentation with respect to production at King Tut, which is part of the reason for the low acquisition cost.

King Tut comprises approximately 80 acres and is located on Bureau of Land Management land less than 50 miles from the company's fully functional mill site in Globe, Ariz. The company is currently evaluating the potential to increase the land position.

King Tut provides the following:

• Immediate production potential of high-grade gold;
• Excellent infrastructure;
• Significant exploration potential.

When last in production, according to Dan Murphy and Ron Murphy, continuing grades averaged 0.5 ounce/ton gold with assay results as high as three oz/ton gold, making the King Tut one of the highest-grade gold properties in the area. The company relies on these verbal reports to support its thesis to acquire King Tut and to support its thesis for future exploration and mining. The company cannot show that a qualified person (as that term is used in National Instrument 43-101) supervised the collection or processing of the material at that time.

Ron Murphy and Dan Murphy have advised they visually inspected the King Tut vein, and they report it is very high grade and two to three feet wide containing free gold. The adit currently extends less than 100 feet and might need safety work.

Currently there is a stockpile of approximately 400 tons of waste material at King Tut. As part of its due diligence review of King Tut, the company transported roughly 50 tons of that material to its mill for processing. Assay results from that material averaged 0.3 oz/ton gold and ran as high as 1.8 oz/ton gold.

Recovery in this sample of material was 90 per cent and a concentrate grade of 38 oz/ton gold was achieved. Silver Bullet feels this is an incredible opportunity to complement the Super Champ mine material and increase potential revenue generation at a very low cost. Management believes the company's risk is minimal on this transaction.

The company has all the necessary equipment and infrastructure to commence the processing of the King Tut material immediately without affecting other production operations. The company believes it will not be difficult to find a buyer of the end product, whether as a concentrate or as dore bars.

The initial plan is to mine and ship 50 tons per day from King Tut to the mill for processing. The King Tut material will be kept separate from Super Champ material.

John Carter, Silver Bullet chief executive officer, states: "This once again demonstrates the effectiveness of our business model and the importance of having an incredible team that can identify, evaluate, perform due diligence, and transact quickly and efficiently. This is an opportunistic low risk transaction with what we see as a very high upside."

The company believes these types of acquisitions, along with its already owned properties, will provide a secure and low risk supply of precious metals and exploration opportunities.

Silver Bullet continues to mine from the lower adit at the Super Champ in anticipation of processing material in the very near future. The company is also completing its evaluation of the surface work at the Washington mine in Idaho where mining is expected to continue in August.

Finally, the company advises a total of 1,410,407 shares were issued at 15 cents for the payment of interest and extension fees related to the promissory note, representing a total of $211,561, effective June 20, 2025.

QA/QC (quality assurance/quality control)

Readers are cautioned samples are random by nature and may not be representative of the remainder of the King Tut vein. All samples above were analyzed by Silver Bullet at its facility near Globe, Ariz. They were processed through the Lab Jaw crusher, Lab Hammer mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degrees Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of six to one distilled water to nitric acid was utilized to dissolve the gold in the bead at approximately 175 degrees Fahrenheit.

Robert G. Komarechka, PGeo, an independent consultant, has reviewed and verified Silver Bullet's work referred to herein, and is the qualified person for this release.

We seek Safe Harbor.