Silver BULL Announces Board Changes
March 13, 2023 OTCQB: SVBL, TSX: SVB
SILVER BULL ANNOUNCES BOARD CHANGES
Vancouver, British Columbia – Silver Bull Resources, Inc. (OTCQB: SVBL, TSX: SVB) ( “Silver Bull”) wishes
to announce changes to its Board of Directors.
Effective March 2, 2023, Daniel Kunz has resigned from the Board of Directors , as he was not st anding
for re-election at the Company’s upcoming Annual General Meeting . Mr. Kunz has been a member of
the Board since 2011. To replace Mr. Kunz, Mr. William Matlack has been appointed to the Board.
Brian Edgar, Cha irman of Silver Bull commented, “We’d l ike to t hank Dan for his insight and many
contributions over the past 12 years and wish him well in the future. We have been very fortunate to
have Dan on the Board of Directors , and acting as our Audit Committee chair since 2011. His deep
knowledge and exper tise of the mining and exploration business has been a terrific asset for the
Company.” Mr. Edgar continued, “ We welcome Bill to the Board of Directors. Bill has been a supporter
of Silver Bull for many years, and we look forward to having his expertise and contributions on the Silver
Bull Board going forward.”
About William Matlack
Mr. Matlack, 68, is a veteran geologist over a 20 -year career in the mining industry, working primaril y
with Santa Fe Pacific Gold Corp. (now Newmont Mining) and Gold Fields. Mr. Matlack was involved in
the exploration and development of several world-class gold discoveries in Nevada and California. Later,
he was an equity research analyst in metals & min ing with Citigroup and BMO Capital Markets, and an
investment banker in m etals & mining with Scarsdale Equities. From 2012 to 2018, he was interim CEO
and a director of Klondex Mines Limited during its transformation from an explorer to gold producer in
Nevada. Mr. Matlack has served as a director of Timberline Resources Corp. since October 2019.
Stock Option Grant
Coinciding with Mr. Matlack’s appointment to the Board, t he Company announces the grant of 150,000
stock options that are exercisable for a p eriod of five years at a price of C$0 .195 per share. The options
will be subject to vesting over two years.
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 regar ding forward looking statements: This news release contains f orward-looking statements regarding
future events a nd Silv er Bull’s and Arras ’s future results th at are subject to th e sa fe harbors created under t he 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 est imates for
the Sierra Mojada projects and the development of the project. These statements are based on current expectations, estimates,
forecasts, and projections about Silver Bull’s and Arras’s exploration projects, the industry in which S ilver Bull operates and the
beliefs and assumptions of Silver Bul l’s management. W ords such as “ expects,” “anticipates,” “targets,” “goals,” “projects,”
“intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expressions and
references to future periods, are intend ed to 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 contr ol, including such factors as whether
management’s focus will be as described in this news relea se, the results of exploration activities and whet her the results
continue to support continued explorati on activities, unexp ected variations in ore grade, types and metallurgy, volatility and
level of commodit y pr ices, the ava ilability of su fficient future financing, an d other matters discussed under the caption “Risk
Factors” in Silver Bull ’s Annual Rep ort on Form 10 -K for the fiscal year ended October 31, 202 2 and our other pe riodic 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 statements are not guar antees of future performance and that
actual results or d evelopments may differ m aterially from tho se expressed or implied in the forward-looking statements. Any
forward-looking statement made by us in this release is based only on informatio n 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 written
or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.