Silver Bullet Announces Potential Third Revenue Stream From Gold Processing
Silver Bullet Announces Potential Third Revenue Stream From Gold Processing
November 1 , 2023 -Burlington, Ontario – Silver Bullet Mines Corp. (TSXV:SBMI and
OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) announces a third potential revenue stream. This
potential revenue stream flows from SBMI’s relationship with a lender announced earlier this year.
Earlier this year SBMI announced it had entered into an agreement with an arm’s length third party
(the “Investor/Client”) for the amount of USD$350,000. This investment was structured as a loan
having a five year term and a zero per cent interest rate. Following extensive due diligence of
SBMI’s operations, the Investor/Client asked SBMI to work with it to advance other projects in
which the Investor/Client is involved. The first two such projects under consideration were in
Arizona and Colorado.
The Investor/Client and SBMI have entered into a verbal agreement whereby the Investor/Client
will ship approximately 900 pounds of what it advises to be high grade gold concentrate to SBMI’s
mill in Globe, Arizona from an Investor/Client mine in Colorado, to be processed through SBMI’s
modular processing facility. SBMI expects to receive the material in early Novembe r, following
which it intends to run the material through its system to determine recovery, develop a process
flowsheet, and ultimately pour gold dore bars.
The design of SBMI’s 100% owned mill affords the flexibility to process many different types of
material and optimize the resulting output with its state of the art gravity circuit. The
Investor/Client has indicated the facility that produced the concentrate is not capable of processing
the material to a purity desired by the Investor/Client. This concentrate may be well suited for
SBMI’s circuit to yield a higher purity gold product than the other facility could provide.
Remuneration for this work being done for the Investor/Client will be determined after SBMI’s
receipt of the material and initial evaluation.
The Investor/Client has advised it has a substantial stockpile of similar material to be processed
by SBMI’s mill, assuming this test run is successful.
If this run is successful, p rocessing material for the Investor /Client is a third potential near-term
revenue stream for SBMI, with the other two being silver production out of the Buckeye Silver
Mine and silver / gold production from the Washington Mine in Idaho . Production at Idaho will
not commence until stable production is achieved in Arizona. The delivery of this material shows
the Investor/Client strongly believes SBMI has the capacity and ability to provide the necessary
services and achieve the Investor/Client’s desired results.
The Company will continue to update as this project moves forward.
SBMI is in discussions with other parties whereby SBMI will process third party material, and the
Company will advise as such discussions progress.
At the Buckeye Mine, the team continues to drift in Zone1 towards what management believes is
a volume of higher grade silver mineralization.
For further information, please contact:
John Carter
Silver Bullet Mines Corp., CEO
+1 (905) 302-3843
Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
+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.