Mr. John Carter reports

SILVER BULLET MINES RETURNS 23.6 OZ/TON GOLD FROM CONCENTRATE AT KT MINE IN ARIZONA

Silver Bullet Mines Corp. has released the final results from the recently completed highly successful bulk sample from the KT mine in Arizona.

Silver Bullet announced its acquisition of the KT mine on July 23, 2025. As part of its due diligence review of KT, the company took roughly 50 tons from approximately 400 tons of waste material to its mill for later processing into concentrate. Samples from that waste material processed at Silver Bullet's assay lab averaged 0.3 ounce per ton gold and ran as high as 1.8 oz per ton gold (see news release of July 23, 2025).

Silver Bullet took other random samples from the concentrate throughout the process. Five such samples were sent to the ISO-accredited Activation Laboratories Ltd. in Ancaster, Ont., for detailed analysis. ActLabs advised the initial concentrate values for the gold, silver and lead were higher than the maximum values for the tests performed, requiring a different test to determine how high the values were for gold, silver and lead. As said by chief executive officer John A. Carter, "The results are absolutely incredible."

Values for the retested samples returned as high as 809 grams per tonne (23.6 oz/ton) gold and 959 g/t (28 oz/ton) silver, and the lead returned 48 per cent. No significant deleterious elements were found. The complete results will be made available at the Silver Bullet website.

These gold and silver values are extremely high but in line with the historical numbers provided by the previous owner of KT. Silver Bullet is currently shipping additional material from the mine to the mill for processing and to produce a concentrate for sale.

In anticipation of these final results, the company has improved access to the site, secured the area and proceeded to open the existing adit. The adit has been timbered to provide access to the vein, and the field team occasionally pans for gold from the tunnel along the vein.

The company is also working at surface to better define the vein structure, with the vein having been traced for over 1,000 feet to date. Samples for assay are being taken throughout the process.

Timbering at the KT adit

The company believes that the KT property, as well as the Super Champ mine, provide significant potential to provide high-grade gold and silver to its mill for processing for the foreseeable future. In light of this, Silver Bullet is working with its engineering group to increase the capacity of its mill and add additional circuits to recover other minerals.

With respect to the Super Champ mine, the company is still awaiting the results of a third party multielement analysis on the concentrate from material taken from the Super Champ mine. Upon receipt of such results, Silver Bullet will be able to advance the sales process with the buyer identified on July 9, 2025.

On June 27, 2025, Silver Bullet announced the holder of the convertible promissory note had elected to convert the balance of the note outstanding to equity. The noteholder also elected to be paid related interest in common shares of the company. At that time, the total note outstanding was in the amount of $150,000, which converted at 10 cents per share to 1.5 million shares. Outstanding interest in the amount of $211,561 converted into 1,410,406 shares at 15 cents per share.

Finally, the company has issued options to a certain consultant of the company. The options include 500,000 at 30 cents and 500,000 at 40 cents, all of which will expire on Feb. 26, 2026, and vest immediately.

Quality assurance/quality control

Readers are cautioned samples are random by nature and may not be representative of the rest of the King Tut vein.

The samples described in the press release of July 23, 2025, as well as that mentioned in this press release, were collected from the 400-ton waste pile at the KT mine. Fifty tons of this material was removed from this stockpile and brought to Silver Bullet's mill for processing. The samples of the July 23, 2025, press release were analyzed by Silver Bullet at its facility near Globe, Ariz. These samples 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 F, with the rest 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 F.

The five additional samples reported in this press release were collected from the same 500-pound sample at Silver Bullet's mill as it ran through the milling process. These samples, primarily concentrates, were collected by Arizona certified assayer Bob Budd. These samples were shipped to the qualified person Robert G. Komarechka, who then forwarded them on to ActLabs (a certified ISO9001 lab) in Ancaster, Ont., for analysis. The samples were screened to a minus-200 mesh and assayed for whole rock and multielement analysis using a 4LITHO package. Assaying for gold was undertaken using its 1A2B-30 analytical package consisting of a fire assay with an AA finish and its 1A3 process for overlimit assays consisting of fire assaying followed by a gravimetric analysis. Overlimit silver analysis was assayed using fire assaying followed by gravimetric analysis.

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.

Mr. Komarechka was not at the site when the samples were collected.

We seek Safe Harbor.