Silver Bullet Mines Financing for High-Grade Gold and PGMs
Silver Bullet Mines Financing for High-Grade Gold and PGMs
October 21, 2022 - Burlington, Ontario – On September 26, 2022 Silver Bullet Mines Corp.
(TSXV:SBMI and OTCQB:SBMCF) (‘SBMI’ or ‘the Company’) disclosed it had found
significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate. On October
18, 2022 SBMI announced a second round of assay results proving up the palladium, platinum,
rhodium, osmium and gold in representative mineralized material from its Buckeye Silver Mine
near Globe, Arizona.
To allow SBMI to exploit the palladium, platinum, rhodium, osmium and gold, in addition to the
original silver targets, SBMI announces its intention to carry out a non-brokered financing of
Units. Each Unit will be priced at $0. 20 (twenty cents) and will comprise of one common share
and one full 30-cent (thirty cents) warrant with a 24 -month term, with each such warrant being
exercisable into a common share (the “Financing”).
The target amount for the Financing will be $ 600,000 (six hundred thousand dollars) , with the
number of Units to issue as a result of the Financing being 3,000,000. Units will be allocated on a
first come, first served basis although SBMI retains the right to accept , reject or modify
subscription agreements as it sees fit. The Financing is subject to regulatory approval.
SBMI currently owns a gravity mill near Globe, Arizona that is fully functional for the extraction
of silver. The use of proceeds from the Financing will be to determine what equipment will be
required to augment that mill’s capabilities to also extract the other elements mentioned above. All
of the existing mill will be retained. Other proceeds from the Financing will be for working capital.
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 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, actio ns 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 bu t 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; shar eholder and regulatory approvals; the presence and quantity of minerals in the Company’s properties;
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; a nd, potential dilution. SARS CoV-2 and other potential global viruses
create risks that at this time are immeasurable and impossible to define.