Silver Bullet Mines Corp. Announces Major Acquisition of Two Past Producing Mines

Silver Bullet Mines Corp. (TSXV: SBMI,OTC:SBMCF) (OTCQB: SBMCF) ("SBMI" or "the Company") is pleased to announce it has added two more past producing mines in Arizona to its already impressive portfolio.

These acquisitions are further validation of the Company's hub and spoke business model, with the Company's mill being the hub. These two acquisitions are two additional spokes, providing for possible near-term production, future development, and possibly for historical resources that might be advanced to NI43-101 standards.

These two new acquisitions are the Columbia Mine and the Gold Queen Mine. These past producing mines are contiguous to each other and are located in Gila County, Arizona, less than 30 miles from SBMI's mill in Globe, Arizona. These two properties together consist of twelve BLM mineral claims previously held by Phelps Dodge Corporation, and host multiple past producing copper, gold and silver mines. The Company expects to disclose technical data concerning these two mines in the near future.

The Company has carried out due diligence review of the material from the mines at its mill, and has determined the material can be processed at the mill and is suitable for recovery of the gold, silver and copper. SBMI is taking steps to ensure all requisite permits are current.

SBMI is currently preparing access to the mines. The Company plans to immediately evaluate the stockpiles, and if thought advisable will ship some or all of them to its mill to recover what gold, silver and/or copper may be in them. The Company is also considering rehabilitating an existing crosscut at the 1300 foot level.

The goals are to produce a saleable gold, silver and/or copper concentrate and to produce direct ship material (DSO) under contract with a major buyer. The DSO contract is in place subject to final material analysis.

The acquisition price is a small cash payment. No shares or any form of royalty is involved. The Company believes no regulatory approval is required.

The Company believes this is a major stepping stone to continue building a significant mining operation in Arizona. It also provides SBMI with the historic data necessary to carry out further work and establish a future compliant resource estimate with what the Company believes to be high potential. While the other properties in SBMIs portfolio have great potential for high grade material, the Columbia and Gold Queen Mines have the potential for both high grade and the ability to increase tonnage quickly. The Company believes this yet again confirms that its hub and spoke model is working. SBMI is able to complete all the necessary due diligence to make an informed decision in a very short period of time. The Company believes it has built a strong portfolio of excellent properties that will provide high grade feed to its wholly owned mill. Engineering is underway to expand the capacity of the mill.

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Cautionary and Forward-Looking Statements

This news release contains certain statements that may constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global pathogen; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the exploration for and the production and processing of mineralized material; the results of exploration and development activities; the results of mining and mill operations; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI's properties; risks of future legal proceedings; income tax and tariff matters; fires, floods, snowfall, spring thaw and other natural phenomena; the rate of inflation; counterparty risk with respect to any buyer of the Company's products; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282805