April 14, 2025 (Source) — Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is very pleased to report it has signed an open purchase agreement for the sale of SBMI’s gold and silver concentrate, for the period beginning April 11, 2025 and running to December 31, 2026. The agreement is on standard terms and is non-exclusive. The purchaser is based in the United States of America so the Company does not expect the current tariffs to have a material impact on the purchases.
Negotiations continue with other potential purchasers of SBMI’s gold and silver concentrate. One of those other potential purchasers is the Buyer described in SBMI’s March 19, 2025 news release. SBMI has now been provided with an XRF readout taken by the Buyer on a dore bar made from the Super Champ concentrate as part of its testing. The readout, based on a 20 second analysis period, showed 82.6% silver, 4.1% gold, 3.1% copper, 6.2% tin, and minor amounts of other elements. Importantly, the readout showed extremely minimal deleterious elements in the Super Champ material. SBMI does not know what other QAQC processes went into the Buyer’s testing or if was carried out by or under the supervision of a Qualified Person.
This third party data and SBMI’s own work continue to prove up the upper high grade zone at the Super Champ Mine. SBMI is pleased to announce it has assayed very high-grade silver after two dynamite blasts into that wide zone at the Super Champ Mine.
Various grab samples of vein material from the first blast were assayed, with the highest returning 217.6 oz/ton silver. All samples were anomalous for silver. Panned material returned 572 oz/ton silver, and waste rock returned 7.6 oz/ton silver. The Company’s assay lab cannot assay for gold or copper so samples from the blast area will be sent to a third party accredited lab for multielement analysis.
On November 18, 2024 SBMI announced it had unexpectedly intercepted a historical mining tunnel, shaft and waste piles, during development of the Super Champ vein structure. There is no historical documentation on this tunnel or what was mined out of it. This historical tunnel is approximately 4 feet wide by 8 feet high and of unknown depth. Four grab samples taken from the vein inside this tunnel each returned over 1000 oz/ton silver.
On March 7, 2025 SBMI announced it was driving a development adit from surface to access the Super Champ mineralization at depth and along strike, in part due to the spectacular assay results from the samples taken from inside the historical adit. The two blasts mentioned above are part of developing this adit, and the assay results from material from the first blast support SBMI’s decision to drive this adit. Timbering has begun.
The evidence to date overwhelmingly supports management’s belief the Super Champ vein is richly mineralized. SBMI plans to continue driving along the vein at a decline through the hill to eventually meet up with the lower adit currently under construction. The lower portal has been collared and the lower adit will then drive toward intercepting the Super Champ vein at 90 degrees. This will allow mining in both directions along the vein, thus increasing the daily output and reducing production risk.
In light of the incredible grades and the extent of the vein, SBMI has staked an additional 11 claims covering the entire exposed system. The Super Champ project is fully permitted and is in full compliance with all regulatory authorities.
QA/QC
Readers are cautioned grab samples are random by nature and may not be representative of the remainder of the Super Champ vein. All samples above were analyzed by SBMI at its facility near Globe, Arizona. They 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 degree 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 6 to 1 distilled water to nitric acid was utilized to dissolve the silver 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 https://silverbulletmines.com/qa-qc-assay-lab.
Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.
For further information:
John Carter
Silver Bullet Mines Corp., CEO
[email protected]
+1 (905) 302-3843
Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
[email protected]
+1 (416) 890-1232
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 virus; 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 production and processing of mineralized material; the results of exploration and development activities; 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 matters; fires, floods and other natural phenomena; the rate of inflation; 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.
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