Silver Bullet Mines Corp. Reports Silver Assay Values Averaging 33.9 ounces per ton on its Washington Mine in Idaho
Silver Bullet Mines Corp. Reports Silver Assay Values Averaging 33.9 ounces per ton
on its Washington Mine in Idaho
February 18, 2026 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI,
OTCQB:SBMCF) (“SBMI” or “the Company”) is pleased to provide an update on its successful
autumn exploration program at its wholly owned past producing Washington Mine in Idaho. The
Washington Mine is on patented lands in the prolific placer gold district in Idaho.
This autumn work at the Washington Mine in Idaho is in addition to the mining and development
currently being carried out at the KT Mine and the SC Mine, and in addition to the develo pment
of the recently acquired Columbia and Gold Queen Mines. All of these are past producers and are
in Arizona.
Work undertaken at the Washington Mine by the SBMI geological team and mine contractor in
the autumn of 2025 included rehabilitation of a historical adit, several back face core holes testing
the Subrosa silver -gold structure, and extraction of a near -surface bulk sample from the
Washington Silver Vein. The bulk sample remains on site within a locked location along with the
recent core pending assaying. Rehabilitating the historical adit provides SBMI with two routes by
which to access the historical underground workings and to access what it believes to be
mineralized material.
Thirteen surface samples were collected along a steep slope about 110 feet from the Washington
Mine shaft in a 5.5 foot wide quartz vein parallel to the Washington Vein. An overall average of
the 13 samples assayed 33.9 ounces Ag per ton with assay values ranging from trace to a high of
269 ounces Ag per ton. These assay results are similar to those reported by a prior mine
owner/operator who direct shipped several truckloads of Washington Silver Vein material to a
smelter in 1981, as previously reported by the Company. These grades are also similar to the results
of the Company’s own bulk sample reported January 18, 2022.
Following panning efforts which returned gold from strongly altered material at the back face of
the Subrosa adit, a limited end -of-season NQ2 core underground drilling program was launched.
Logging, evaluation and assaying of the core is currently in progress. Evidence to date strongly
supports gold mineralization being closely associated with the boundaries of an 11 foot wide, dark
intrusive dike. Continuation of core drilling to test the westerly trend of the Subrosa vein structure
is in the planning stage.
In addition to planning core drilling to test the westerly trend of the Subrosa vein structur e,
planning is in progress for a spring 2026 core drilling of the Washington Vein to determine grade
and to confirm the mineralized volume in preparation for mining. Following removal of a bulk
sample and further refinement of economics, SBMI will work with a mineral processor to finalize
the metallurgical process. Preliminary positive metallurgical test work was completed by Montana
Technological University (see SBMI news release February 14, 2022). The Company intends to
initially mine additional material for testing purposes. This phase of property development is
scheduled to commence in spring, 2026. The start date will be based upon conditions including
weather and contractor availability.
John Carter, CEO of SBMI, states:
The Company continues to be very optimistic about the results of the program as it further
demonstrates the property has incredible potential to contain significant high -grade precious
metals. SBMI is currently planning the next phase of development of the mine and is particularly
keen to advance exploration on a number of known gold and silver occurrences that remain
untested.
At this time we are very pleased with the results of this phase of exploration and development. The
Company looks forward to providing further updates in the near future.
Mr. Robert G. Komarechka, P.Geo ., an independent consultant, has reviewed, verified and
approved SBMI’s work referred to herein and is the Qualified Person for this release as per the
exchange requirements and NI 43-101 3.1. Note: The QP was not at the site for sample collection.
SBMI also announces 776,667 warrants previously issued in connection with a private placement
have been exercised at a strike price of $0.17 for proceeds of $132,033 ; 2,000,000 warrants
previously issued in connection with a private placement have been exercised at a strike price of
$0.16 for proceeds of $320,000; 625,000 warrants previously issued in connection with convertible
debentures have been exercise at a strike price of $0.16 for proceeds of $100,000; and, 200,000
warrants previously issued in connection with convertible debentures have been exercised at a
strike price of $0.18 for proceeds of $36,000.
QA/QC
The samples described in th is news release were analyzed by SBMI at its in-house facility near
Globe, Arizona. These samples 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 gold in the bead at approximately 175 degrees Fahrenheit yielding the reported silver
values A much more detailed description of the process and a picture of the assay lab can be found
at QA/QC Assay Lab – Silver Bullet Mines Corp.
For further information:
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 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", "anticipate s", "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 k ey
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.