Mr. John Carter reports

SILVER BULLET MINES INCREASES CONCENTRATE GOLD GRADE TO 27 OZ/TON FROM KT MINE, ARIZONA AND SEES VISIBLE GOLD AT KT MINE, ARIZONA

Silver Bullet Mines Corp. has released positive developments related to its wholly owned KT mine in Arizona. First, as the company fine-tunes the milling process for the KT material, it has been able to substantially increase the concentrate grade. Visual inspections of the material on the shaker table show a distinct line of gold and lead/silver in the concentrate. The grade of the latest high-grade concentrate from the KT mine has increased to over 27 ounces per ton gold. Material from the latest run of concentrate has been sent to a third party lab for multielement analysis. Those results are pending.

Second, significant visible gold has been discovered in the material from the latest blast at the mine. The company has roughly 150 to 200 tons of this material at the mine site ready for shipment to its mill. (Readers are cautioned there are no assurances further VG will be found in the KT material.)

The company reasonably believes grades will increase further as it moves from surface material to underground vein material. Assays from underground work yielded a head grade of 0.8 oz/t gold as of Thursday, Sept. 25, 2025.

Silver Bullet in its short run to date has processed roughly 125 tons of material being a blend of the existing waste material and new material extracted by Silver Bullet, resulting in over two tons of high-grade concentrate. With each run, the company intends to reduce the amount of existing waste material and increase the amount of newly removed higher-grade material as the company evolves to full underground mining.

To accomplish this, the company has completed the following site work:

• Timbered the adit opening and fireproofed the timber;
• Blasted out the floor of the opening roughly four feet to provide better access to the underground workings;
• Installed ventilation;
• Prepared to rock bolt as mining advances; and
• Made all necessary safety improvements for Mine Safety and Health Administration and Department of Mines requirements.

Silver Bullet's original business model from 2020 called for Silver Bullet to build its own mill to process varied material from the area. This is referred to as a hub and spoke model where the mill represents the hub (centrally located) and the individual properties such as the KT, SC and others represent the spokes. All properties are within close proximity to the mill site. The company strongly believes that its business plan is working. Despite being very pleased with the SC and KT mines, Silver Bullet will continue to look for other properties that have the potential to provide better grade and revenue generation numbers.

There seems to be a new appreciation for this type of mine development, and the industry may be changing.

John Carter, chief executive officer, is quoted as saying: "Historically, small mines made up the backbone of the mining industry, and we believe that is coming back. We believe that SBMI will be one of the leaders in this renaissance of small-scale high-grade precious/base metal mining."

Silver Bullet's plan has always been to maximize revenue generation and to do so as fast as possible. At the moment, it is expected that revenue should come from the KT and the SC. KT is providing very high-grade gold, and the SC is providing high-grade silver. Combined, the company expects them to provide significant tons of material for processing at its mill for some time.

Cash flow from the sale of KT and SC concentrate is intended firstly to upgrading the mill to increase capacity, process sulphide material and recover other metals. The company would also upgrade its assay facility to enable it to provide more detailed assays in light of the high-grade gold, lead, copper and zinc associated to date with the KT material.

Secondly, cash flow is intended to provide funds for a detailed exploration program in Arizona to commence in later 2025 or early 2026, and for general working capital. The ultimate goal is to eliminate the necessity for the company to effect further financings until a decision needs be made whether to hunt a potential copper porphyry (see page 8 of the National Instrument 43-101 technical report amended Jan. 31, 2023, and filed at SEDAR+).

The company is still awaiting the results of a third party multielement analysis on the concentrate from material taken from the SC mine. Upon receipt of such results, Silver Bullet will be able to advance the sales process with the buyer identified on July 9, 2025. Backlogs in third party labs are not uncommon when the price of gold takes a run. This has delayed the receipt of the first payment for the sale of the SC concentrate, but the company reasonably believes the receipt of the analysis from the third party lab is imminent.

This past weekend, the Globe, Ariz., area was hit with a historic rain event. The company was fortunate there was no damage to its equipment and infrastructure. After minor cleanup, the SC and KT mines and the mill are operational. Unfortunately, four people have lost their lives, 15 more are still missing and over half the businesses in downtown Globe have been damaged or destroyed. Silver Bullet's condolences go out to all those affected by this tragedy, and the Silver Bullet team will provide any assistance it can.

Finally, Silver Bullet entered into an agreement with a consultant dated Dec. 1, 2023, whereby the consultant would provide consulting services to Silver Bullet for a period of 36 months at $10,000 per month, payable in common shares from Silver Bullet's treasury. Silver Bullet advises that, pursuant to this agreement, it has issued 187,500 common shares at a price of 16 cents dated June 27, 2025, and 113,208 common shares at a price of 26.5 cents dated Sept. 22, 2025.

Quality assurance/quality control

Readers are cautioned samples from the concentrate may not be representative of the rest of the KT vein or the remaining waste material.

The samples described in this news release were analyzed by Silver Bullet at its in-house 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. A much more detailed description of the process and a picture of the assay lab can be found at the company's website.

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.

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