Mr. G. David Richardson, a shareholder, reports

G. DAVID RICHARDSON FILES EARLY WARNING REPORT ACQUISITION

G. David Richardson (the acquiror) has provided an update:

• On Oct. 15, 2025, the acquiror, indirectly through Countryman Investments Ltd., a company wholly owned by the acquiror, acquired 33,333 common shares of Silver Bullet Mines Inc. at a price of 30 cents per share for compensation for services.
• On Dec. 23, 2025, the acquiror, indirectly through Countryman, acquired 188,014 shares at a price of 24 cents per share on conversion of interest on a convertible debenture.
• On Dec. 27, 2025, the acquiror, indirectly through Countryman, acquired 425,000 shares at a price of 17 cents per share on exercise of share purchase warrants.
• On Jan. 29, 2026, the acquiror, indirectly through Countryman, acquired 625,000 shares at a price of 16 cents per share on exercise of warrants.
• On July 22, 2026, the acquiror, through Countryman, acquired ownership of a debenture in the principal amount of $300,000 of the company and three million warrants through a private placement. The principal amount of the debenture, together with all accrued and unpaid interest thereon, is convertible into shares of the company at the option of the holder at a conversion price of 12 cents per share for a period of two years. Each warrant is exercisable into one additional share at a price of 16 cents per share for a period of two years.
• On July 27, 2026, the acquiror, through Countryman, acquired 781,482 shares at a price of 13.5 cents per share for compensation for services.

The issuance of the above-noted debentures and the warrants and the acquisition of the above-noted shares are collectively referred to as the transactions.

The shares issued in the transactions and the shares that would be issued on exercise of the warrants and the shares that would be issued on conversion of the debentures issued in the transactions, combined with the 20,086,521 shares the acquiror owned and controlled directly and indirectly, the 16,611,508 shares that may be issued on exercise of warrants and the 1.25 million shares that may be issued on exercise of options that the acquiror owned and controlled directly and indirectly, prior to the transactions, resulted in the acquiror owning 44,450,858 shares, representing 26.0 per cent of the shares of the company based on 148,707,895 shares issued and outstanding on a partially diluted basis.

Prior to the transactions, the acquiror directly and indirectly owns and controls an aggregate of:

• 20,086,521 shares held indirectly through Countryman;
• 16,611,508 shares issuable on exercise of warrants held indirectly through Countryman;
• 1.25 million shares issuable on exercise of options held directly.

This represents 14.1 per cent of the 142,042,737 issued and outstanding shares as of Oct. 14, 2025, the date of the issuance of the shares on Oct. 15, 2025, for compensation services, on a non-diluted basis. If the acquiror were to exercise the warrants and the options, the acquiror would directly and indirectly own and control 37,948,029 shares, or 23.7 per cent of the issued and outstanding shares calculated on a partially diluted basis.

Following the transactions, the acquiror directly and indirectly owns and controls an aggregate of:

• 22,139,350 shares held indirectly through Countryman;
• 18,561,508 shares issuable on exercise of warrants held indirectly through Countryman;
• 1.25 million shares issued on exercise of options held directly;
• 2.5 million shares issuable on conversion of debentures held indirectly through Countryman.

This represents 14.9 per cent of the 148,707,895 issued and outstanding shares as of Oct. 16, 2025, the date of the issuance of 33,333 shares in the transactions, on a non-diluted basis. If the acquiror were to exercise the warrants and the options and convert the debentures, the acquiror would directly and indirectly own and control 44,450,858 shares, or 26.0 per cent of the issued and outstanding shares calculated on a partially diluted basis.

The shares, warrants and debentures were acquired for investment purposes. The acquiror intends to monitor the business and affairs of the company, including its financial performance, and, depending upon these factors, market conditions and other factors, additional securities of the company may be acquired as is considered or deemed appropriate. Alternatively, some or all of the securities described herein may be disposed of in compliance with applicable securities regulatory requirements.

The acquiror has filed an early warning report pursuant to National Instrument 62-103F1, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, describing the above transactions with the applicable securities regulatory authorities. A copy of the early warning report is available on SEDAR+ under the profile of the company.