SBMI.V · 2023-01-31 12:00:00

Silver Bullet Mines Corp. Updates Copper Values at Black Copper

Corporate Updates

January 31, 2023 - Burlington, Ontario - Silver Bullet Mines Corp. (TSXV:SBMI and

OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) is pleased to update the assay results from its Black

Copper occurrence, reported earlier on January 31, 2023.

In SBMI’s January 17, 2023 press release, SBMI advised third part geologic consultants including

the QP had visited the Black Copper occurrence in late November and early December , 2022.

Black Copper is situated on SBMI’s Black Diamond property roughly one point five kilometres

south of the Buckeye Mine and is referred to in the January, 2021 Geologic Report. Samples from

Black Copper were taken and reported the following results:

Sample number Au (ppb) Cu ppm

342151 615 >1000

342152 192 >1000

342153 941 >1000

342154 654 >1000

The over -detection limit for copper on these samples was 1000 parts per million. These four

samples were sent for further analysis which returned:

Sample number Cu ppm Cu %

342151 22400 2.24

342152 37400 3.740

342153 34000 3.400

342154 54900 5.490

The press release from earlier today incorrectly stated the values in parts per million as a result of

manual data entry into the press release. A copy of the Actlabs certificates for these samples is

attached.

QAQC For SBMI

All the samples above were collected by Robert Komarechka and John Corkery. Samples were

collected and placed in sample bags with their appropriate tag and personally taken to the courier

and shipped to Actlabs in Thunder Bay, Ontario for assaying. Certified standards and blanks were

used both by the Company and Actlabs.

All samples analyzed by Actlabs were by Fire Assay ICPOES (Induced coupled plasma arc with

optical emission spectroscopy).

The multi-element analysis was by digestion with a combination of hydrochloric, nitric, perchloric

and hydrofluoric acids.

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.

With respect to the Company’s press release concerning seeking an extension of the Warrants (as

that term is defined in that release), SBMI advises it is seeking an extension on a total of 8,528,081

Warrants with new expiry dates ranging from February 6, 2024 to July 8, 2024.

For further information, please contact:

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 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 c an 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.

Quality Analysis ... Innovative Technologies

Report No.: A22-18819-Final3

Report Date: 27-Jan-23

Date Submitted: 15-Dec-22

Your Reference: Buckeye/Richmond Basin Silver Bullet

545 Granite Street

Sudbury Ontario P3C 2P4

Canada

ATTN: John Carter

CERTIFICATE OF ANALYSIS

18 Rock samples were submitted for analysis.

The following analytical package(s) were requested: Testing Date:

8-4 Acid-Tbay Total Digestion QOP Total Assay (Code 8-4 Acid Total Digestion

Assays)

2023-01-26 18:48:27

REPORT A22-18819-Final3

This report may be reproduced without our consent. If only selected portions of the report are reproduced, permission must be obtained. If no instructions were

given at time of sample submittal regarding excess material, it will be discarded within 90 days of this report. Our liability is limited solely to the analytical cost

of these analyses. Test results are representative only of material submitted for analysis.

Notes:

CERTIFIED BY:

Mark Vandergeest

Quality Control Coordinator

LabID: 673

ACTIVATION LABORATORIES LTD.

1201 Walsh Street West, Thunder Bay, Ontario, Canada, P7E 4X6

TELEPHONE +807 622-6707 or +1.888.228.5227 FAX +1.905.648.9613

E-MAIL [email protected] ACTLABS GROUP WEBSITE www.actlabs.com

Page 1/3

Results Activation Laboratories Ltd. Report: A22-18819

Analyte Symbol Cu

Unit Symbol %

Lower Limit 0.001

Method Code 4Acid

ICPOE

I342151 2.24

I342152 3.74

I342153 3.40

I342154 5.49

Page 2/3

QC Activation Laboratories Ltd. Report: A22-18819

Analyte Symbol Cu

Unit Symbol %

Lower Limit 0.001

Method Code 4Acid

ICPOE

MP-1b Meas 2.97

MP-1b Cert 3.07

CPB-2 Meas 0.131

CPB-2 Cert 0.1213

CZN-4 Meas 0.411

CZN-4 Cert 0.403

CCU-1e Meas 23.0

CCU-1e Cert 22.9

Method Blank < 0.001

Page 3/3

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