Silver BULL and Arras Minerals Appoint Darren Klinck as President
September 29, 2021 OTCQB: SVBL, TSX: SVB
SILVER BULL AND ARRAS MINERALS APPOINT DARREN KLINCK
AS PRESIDENT
Vancouver, British Columbia – Silver Bull Resources, Inc. (OTCQB: SVBL, TSX: SVB) ( “Silver Bull ”) and
Arras Minerals Corp. ( “Arras”) are pleased to announce the appointment of Darren Klinck to both
companies as President, effective October 1, 2021. Mr. Klinck will also be joining the Board of Directors
of Arras.
Mr. Klinck is an acc omplished mining executive with considerable management experience throughout
Australasia & The Americas. He was most recently President & CEO of Bluestone Resources, following
the acquisition of the Cerro Blanco gold project in Guatemala in 2017, where he led the team that
financed and advanced the proj ect through reso urce expansion, feasibility and engineering phases of
project development.
He also spent more than ten years wi th OceanaGold as a member of the Executive Committee that
achieved significant growth and bus iness expansion to become a mul ti-mine, international gold mining
company, growing from a market capitalization of less than C$100M to one greater than C$3B.
Over the past 20 years, Darren has been instrumental in negotiating both equity and debt financing
packages totaling more than $800 m and has signi ficant experience leading teams in emerging markets
with a strong focus on Corporate Social Responsibility (CSR) and community engagement programs, as
well as extensive government relations activities.
Mr. Klinck has a Bachelor of Comme rce degree from the Haskayne School of Business at The University
of Calgary. He is a Director of ValOre Metals Corp and Gold Basin Resources Corp.
Mr. Klinck commented, “I look forward to working closely with Tim and the team as we advance from a
solid base already in p lace in Mexico at Silver Bull but also as w e begin to emerge with Arras in
Kazakhstan. The team has done a terrific job through this challenging global pandemic to evaluate
opportunities focusing on high-quality geological potential in jurisdictions that we lcome mineral
development. The significant opportunity established in Kazakhstan by Arras over the past year has
positioned the company to be an early mover in one of th e few copper-gold belts remaining globally
that has not benefitted from significant modern exploration and focus. Pleasingly, Beskauga is already a
significant deposit in its own right and provides a solid base from which to build on in the future within a
country that is the most advanced economy in Central Asia; has r ecently modernized t heir mining
regulations based on Western Australian code; and is now seeing new entrants comprising of the largest
players in our industry.”
Brian Edgar, Chairman of Silver Bull stated “This is an important s tep forward for Silver Bull and Arras.
Darren’s appointment significantly strengthens and diversifies our existing m anagement team. He has a
track record of creating shareholder value and a broad range of experience in management, corporate
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finance and inv estor relation s. Silver Bull and Arras have two exceptional project s which provide
exposure to silver and zinc, and gold and copper , respectively, and Darren’s capital markets expertise,
coupled with management’s technical expertise, positions the Companies for significant success.”
Silver Bull and Arras Moving Forward: On September 24, 2021, Silver Bull completed the distribution of
shares of Arras to its shareholders. Silver Bull continues to own approximately 4% of Arras, on a non -
diluted basis.
Silver Bull will continue to focus on the Sierra Mojada p roject and surrounding area in Mexico an d
managing the joint venture option with South32. It will continue to trade under the symbol “SVB” on the
TSX, and “SVBL” on the OTCQB.
Arras as a standalone entity will focus on the Beskauga deposit in Northeastern Kazakhstan.
The exploration activities of b oth companies will continue to be m anaged by current management and
will be headquartered in Vancouver.
A summary of Arras’s Beskauga proj ect in Kazakhstan, and the Sierra Mojada Project in Mexico is
provided below.
Beskauga Deposit, Kazakhstan: The Beskauga deposit is an open pitta ble gold-copper-silver deposit
with a NI 43 -101 compliant “Indicated” Mineral Resource of 207 million tonnes g rading 0.35 g /t gold,
0.23% copper and 1.09 g/t silver for 2.33 million oun ces of contained gold, 476.1 thousand tonnes of
contained copper, and 7.25 million ounces of contained silver and an “Inferred” Mineral Resource of 147
million tonnes grading 0.33 g /t gold, 0.15 % co pper and 1.02 g/t silver for 1.56 million ounces of
contained gold, 220.5 thousand tonnes of contained copper, and 4.82 million ounces of contained silver.
The constraining pit was optimised and calculated using a NSR cut-off based on a price of: $1,500/oz for
gold, $2.80/lb for copper, $17.25/oz for silve r, and with an average recovery of 81.7% for copper and
51.8% for both gold and silver. Mineralization remains open in all directions as well as at depth.
Table 1. Pit-constrained Mineral Resource estimate for the Beskauga copper-gold project
CATEGORY TONNAGE (MT) CU % AU G/T AG G/T AU (MOZ) CU (KT) AG (MOZ)
Indicated 207 0.23 0.35 1.09 2.33 476.1 7.25
Inferred 147 0.15 0.33 1.02 1.56 220.5 4.82
For a full summary of the Beskauga resource please refer to Silver Bull’s press release dated January 28,
2021 and filed on its profile at www.SEDAR.com, or by visiting the following link:
https://www.silverbullresources.com/news/silver-bull-announces-maiden-ni-43-101-resource-of-2.33-
million-ounces-of-gold-476-thousand-tonnes-of-copper-in-the-indicated/
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Sierra Mojada deposit , Mexico : Sierra Mojada is an open pittable oxide dep osit with a NI 43-101
compliant Measured and I ndicated “global” Mineral Resource of 70.4 million tonnes gradin g 3.4% zinc
and 38.6 g/t silver for 5.35 billion pounds of contained zinc and 87.4 million ounces of contained silver.
Included within the “ global” Mineral Resource is a Measured and Indicated “high grade zinc zone ” of
13.5 million tonnes with an average g rade of 11.2% zinc at a 6% cut off, for 3.336 billion pounds of
contained zinc, and a Measured and Indic ated “high grade silver zone ” of 15.2 millio n tonnes with an
average grade of 1 14.9 g/t s ilver at a 50 g/t cutoff for 56.3 mil lion contained ounces of si lver.
Mineralization remains open in the east, west, and northerly directions.
The constraining pit was optimised and calculated using a NSR cut -off based on a silv er price of
US$15/oz, and a zinc price of US $1.20/lb and assumed a recover y for silver of 75 % and a recov ery for
zinc of 4 1%. Approximately 60% of the current 3.2 kilo meter mineralized body is at or near surface
before dipping at around 6 degrees to the east.
CATEGORY TONNES (MT) AG (G/T) CU (%) PB (%) ZN (%) AG
(MOZS)
CU
(MLBS)
PB
(MLBS)
ZN
(MLBS)
MEASURED 52.0 39.2 0.04% 0.3% 4.0% 65.5 45.9 379.1 4,589.3
INDICATED 18.4 37.0 0.03% 0.2% 1.9% 21.9 10.8 87.0 764.6
TOTAL M&I 70.4 38.6 0.04% 0.3% 3.4% 87.4 56.8 466.1 5,353.9
INFERRED 0.1 8.8 0.02% 0.2% 6.4% 0.02 0.04 0.4 10.7
For a full summary of the Sierr a Mo jada resource, please refer to Silver Bull ’s press release dated
October 31, 2018 and filed on its profile at www.SEDAR.com, or by visiting the following link:
https://www.silverbullresources.com/news/silver-bull-resources-announces-5.35-billion-pounds-zinc-
87.4-million-ounces-silver-in-updated-sierra-mojada-measured-and/
The technical information of this news r elease has been reviewed and approved by Tim B arry, a
Chartered Professional Geolo gist (CPAusIMM), and a qualified person for the purposes of National
Instrument 43-101.
On behalf of the Board of Directors
“Tim Barry”
Tim Barry, CPAusIMM
Chief Executive Officer and Director
INVESTOR RELATIONS:
+1 604 687 5800 [email protected]
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Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred R esources: This press release
uses the terms “measured resources”, “indicated resources”, and “inferred resources” which are defined in, and required to be
disclosed by, NI 43 -101. We advise U.S. investors that these terms are not recognized by the SEC. The estimation of measured,
indicated and inferred resources involv es greater uncertainty as to their existence and econom ic feasibility than the estimation
of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicate d mineral resources will
be converted into reserves. The estimation of inferred resources involves far greater uncertai nty as to their e xistence and
economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that
estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measure d or indicated mineral
resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other
economic studies.
Disclosure of “ contained ounces” in a resource is permitted disclosure under Canadian regulations, however the SEC normally
only permits issuers to report mineralization that does not constitute “ reserves” by SEC standards as in place tonnage and grade
without reference to unit measure s. Accordingly, the information contained in this press release m ay not be comparable to
similar information made public by U.S. companies that are not subject NI 43-101.
Cautionary note regar ding forward looking statements: This news release contains forw ard-looking statements regarding
future events and Silv er Bull’s and Arras ’s future results th at are subject to th e safe harbors created under the U.S. Private
Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian
securities laws. Forward -looking statements include, among others, statements rega rding the Mineral Resource estimates for
the Beskauga and Sierra Mojada projects and the development of both such pro jects. These state ments are based on current
expectations, estimates, forecasts, and projections about Silver Bull ’s and Arras ’s exploration projects, the in dustry in which
Silver Bull and Arras operate and the beliefs and assumptions of Silver Bull’s and Arras’s management. Words such as “expects,”
“anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations
of such words, and similar e xpressions and references to future periods, are intended t o identify such forward-looking
statements. Forward-looking statements are subject to a number of assumptions , risks and uncert ainties, many of which are
beyond our control, including such factors as whether management’s focus will be as described in this news release, the results
of exploration activities and whether the results c ontinue to support continued exploration activities, unexpect ed variations in
ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other
matters discussed under the caption “ Risk Fa ctors” in Silver Bull ’s Annual Rep ort on Form 10 -K for the fiscal year ended
October 31, 2020 and our Quarterly Report on Form 10-Q for the interim periods ended January 31, 2021, April 30, 2021, July 31,
2021, and our other periodic and current reports filed with t he SEC and available on www.sec.gov and with the Canadian
securities commiss ions available on www.sedar .com. Readers are cautioned that forward- looking statem ents are not
guarantees of f uture performance and that actual results or developments may differ m aterially from tho se exp ressed or
implied in the forward- looking statements. Any forward- looking statem ent made by us in this release is based only on
information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly
update any forward -looking statement, whether writte n or oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.