Mr. John Carter reports

SILVER BULLET MINES DISCOVERS NEW POTENTIAL SILVER/GOLD VEIN AT KT MINE IN ARIZONA

During development of Silver Bullet Mines Corp.'s KT mine in Arizona, a new potential high-grade silver/gold zone was discovered. It is yet to be determined if this is an offshoot of the main KT vein or a new vein parallel to the main KT vein.

Initial sampling and panning of the mineralized material from the new zone produced significant high-grade silver, with gold and lead. Twelve samples were taken. Subsequent in-house assay results of these 12 samples range from seven to 27 ounces per ton silver. Check assays will be sent to a third party lab for confirmation. This area differs from the main vein of the KT mine in that results to date from the newly discovered zone indicate high-grade silver with gold versus high-grade gold with silver in the main zone. Readers are cautioned that samples are random by nature and may not represent the new zone as a whole.

Silver Bullet's geological team, including Nick Barr, the company's in-house geologist, is developing a plan to advance this new discovery. To provide a more detailed evaluation of the new zone, the company is excavating along the vein. It was also able to identify the vein a distance of over 200 feet in length. It has uncovered a roughly eight-foot-wide vein at surface, and it not yet known whether this surface vein is part of the main KT vein, the new zone or another new zone. Excavation is continuing to expose further mineralization along strike.

As part of the development of the new zone the company has removed a roughly 200-ton bulk sample for processing at its mill/assay facility which is located in close proximity to the KT mine. Results from that material are ongoing and will be available shortly. The material from this newly discovered zone will be processed into concentrate, and most likely sold to the same buyer who is already buying concentrate from the company.

Silver Bullet's business plan is built upon a hub and spoke model, with the mill being the hub. Owning its own processing complex enables Silver Bullet to quickly evaluate and advance opportunities as new targets are identified. The company can then make fast accurate decisions based on clear facts and numbers. This puts Silver Bullet is in an excellent position to fill the growing need for silver/gold. As previously stated, Silver Bullet intends to expand production capacity in the near future to meet that rising demand.

The geological team continues to evaluate the potential of this new discovery and will provide further updates in the near future.

Processing of material from the KT main zone continues. Four shipments of concentrate from that material have occurred to date with a fifth shipment scheduled for pickup this week. Underground development at the KT has been completed and the company anticipates mining to commence this week. Silver Bullet reasonably believes the head grade of the underground material should increase significantly.

The first shipment of concentrate was received by the buyer on Oct. 29, 2025. The buyer has carried out its standard internal procedures to process that shipment, which it has advised Silver Bullet includes sending samples of that concentrate to two independent labs for assay on Dec. 16, 2025. Those labs are currently assaying the concentrate samples and results are expected imminently. Subsequent batches from Silver Bullet might not require this degree of analysis.

The company anticipates payment for the first shipment to be made immediately upon receipt of the comparison results, assuming no major discrepancies exist. This is slightly longer than expected due to time lost due to the holidays and extra work done by the buyer on behalf of Silver Bullet.

The company is currently evaluating the results from its very successful fall development program at the Washington mine in Idaho and will be providing an update in the near future.

Finally, 1,923,334 warrants previously issued in connection with a private placement have been recently exercised at a strike price of 17 cents, and 625,000 warrants previously issued in connection with convertible debentures have recently been exercised at a strike price of 16 cents. The exercise of warrants provides the company with additional working capital. The cumulative exercise of warrants during Q1 and Q2 of fiscal 2026 include 4,684,167 warrants at a strike price of 16 cents and 1,923,334 warrants at a strike price of 17 cents.

QA/QC (quality assurance/quality control)

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 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. A much more detailed description of the process and a picture of the assay lab can be found at QA/QC assay lab -- Silver Bullet Mines.

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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