Burlington, Ontario--(Newsfile Corp. - March 3, 2025) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to announce it has accessed the historic high grade silver vein at its wholly-owned Washington Mine in Idaho. This portion of the vein was targetted using the Stoker Report among other data.
The Stoker Report indicates a blocked-out volume contains an estimated 3 million ounces of silver with a grade of 30 to 90 ounces per ton and 15,000 ounces of gold at 0.3 ounces per ton. (Source, "Geological Evaluation", Roger G. Stoker, P.G. and Ryne C. Stoker, Student Geologist, Energy Services Inc., December, 1981.) Stoker also indicated the underground location of the "Berger Vein", described as a "gold ore shoot 25 feet wide, 135 feet long, and unknown depth." Average grades were given as 0.3 oz/ton gold with unknown silver content. Additional notes in Stoker suggest that the Berger Vein had been intersected in drifting at the 400-foot level. Stoker also indicates the Washington Mine was one of the highest grading gold mines in the area averaging 1 ounce gold per ton.
As per the photo below, the Company increased the size of the adit to 12 ft x 12 ft, enabling the Contract Miner to advance over 190 feet and turn parallel to this silver zone. The enlarged adit has enabled the Contract Miner to set up 4 drill stations using an underground drill and drill into the vein at various angles.
The vein pinches and swells, averaging approximately 6 feet wide. All of the Contract Miner's drill holes intercepted the vein. The core from these holes has been logged and samples have been sent out for assay (see photo of drill core below). The dark grey material in the core sample on the left is reasonably believed to be high grade silver.
During logging of the core, multiple gold veinlets were visually identified. Samples from the core, including sections holding the gold veinlets, are being prepared for assay.
The oxide material ahead of the targeted zone has been removed and sent to the stockpile, some of which ran as high as 18 ounces per ton silver using X-ray fluorescence. (None of that material has been assayed which could provide a more accurate determination of the amount of silver in that sample.) SBMI is excited by these events as they confirm much of the data outlined in Stoker (see that report at www.silverbulletmines.com). Management reasonably believes the Contract Miner is moving towards what could be a significant mineralized structure.
The Contract Miner is currently driving a 6 ft x 9 ft drift to the center of the high grade zone to access the silver/gold material, which will be removed and stockpiled for future sale. This drift will allow the Contract Miner to mine the vein in all directions throughout the structure.
While driving the main adit, the Contract Miner intercepted historical workings that contained visible multiple gold veinlets. The Company is evaluating these targets. SBMI also broke into the historical Washington Gold chute which will be accessed once the Contract Miner has implemented a plan to create safe access to it. This is the area that Stoker indicated hosted 0.3 ounce per ton gold over 20 ft.
SBMI strongly believes that it has achieved its goal of confirming data in Stoker. It also provides further support for the accuracy of the historic bulk sample taken in the 1980's that yielded 44 ounce per ton silver and 0.1 ounce per ton gold. These positive events give management a great deal of confidence that the Washington Mine has the potential once again to be a significant producing gold/silver property.
SBMI will now focus on further development and extracting a 2500 ton bulk sample.
For further information, please contact:
John Carter Silver Bullet Mines Corp., CEO cartera@sympatico.ca +1 (905) 302-3843
Peter M. Clausi Silver Bullet Mines Corp., VP Capital Markets pclausi@brantcapital.ca +1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that 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 ore; 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.
