Silver BULL Announces Private Placement of CDN$1,700,000, with Commitments of CDN$1,330,000 Including CDN$200,000 from Sprott
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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
SILVER BULL ANNOUNCES PRIVATE PLACEMENT OF CDN$1,700,000, WITH
COMMITMENTS OF CDN$1,330,000 INCLUDING CDN$200,000 FROM SPROTT
VANCOUVER, BC – (June 23, 2017 ) – Silver Bull Resources, Inc. (TSX: SVB; OTCQB: SVBL)
(“Silver Bull” or the “ Company”) is pleased to announce its intention to complete a private placement
(the “ Private Placement ”) of up to 21,398,550 units (the “ Units”) of the Company at a price of
CDN$0.08 per Unit. Each Unit will consist of one common share in the capital of the Company (a
“Common Share”) and one Common Share purchase warrant (a “ Warrant”). Each Warrant entitles the
holder to acquire one Common Share at a price of CDN$ 0.13 until the second anniversary of closing of
the Private Placement.
The Company has currentl y received commitments for 16,625 ,000 Units, for gross proceeds of
CDN$1,330,000. Included in them, is a commitment from a member of the Sprott Group of Companies
for 2,500,000 Units. The Private Placement is expected to close on or before July 7, 2017 , subject to
receipt of the necessary approvals, including approval of the Toronto Stock Exchange (“TSX”).
The net proceeds of the Private Placement will be used by Silver Bull for general working capital
purposes and exploration of the Sierra Mojada Project. The Company has agreed to pay aggrega te cash
commissions of CDN$93,1 00 and issue an aggregate of 1,163,750 non-transferable common share
purchase warrants (the “ Finders’ Warrants”), subject to approval of the TSX. Each Finder s’ Warrant
entitles the holder to acquire one Common Share for CDN$0.10 until the second anniversary of closing of
the Private Placement.
Tim Barry, Silver Bull President and CEO, stated, “ We are ve ry pleased to announce this private
placement. The purpose the Private Placement is to pursue a new zone of high grade sulphide
mineralization identified in recently reconditioned underground workings. The high grade sulphide
mineralization occurs along an east-west trending zone just to the north of the main Sierra Mojada deposit
and yield results from channel samples grading up to 680g/t silver, 15% Zinc, 15% lead, and 1% copper.
This area has never been drilled and is thought to represent feeder zone for the mineralization we see in
the area.”
All securities issued pursuant to the Private Placement are subject to a hold period under applicable
Canadian securities laws, which will expire four months plus one day from the date of closing of the
Private Placement, and U.S. securities laws, which will expire six months from the date of the closing of
the Private Placement.
The securities issued under the Private Placement have not been, and will not be, registered under the
United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws,
and accordingly, may not be offered or sold within the United States except in compliance with the
registration requirements of the U.S. Securities Act and applicable state securit ies requirements or
pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of
an offer to buy any of Silver Bull’s securities in the United States.
About Silver Bull: Silver Bull is a mineral exploration company whose shares are listed on the Toronto
Stock Exchange and trade on the OTCQB in the United States, and is based out of Vancouver, Canada.
The Sierra Mojada Project is located 150 kilometers north of the city of Torreon in Coahuila, Mexico, and
is highly prospective for silver and zinc.
The technical information of this news release has been reviewed and approved by Tim Barry, a
Chartered Professional Geologist (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, President and Director
INVESTOR RELATIONS:
+1 604 687 5800
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release are “forward-looking” within the meaning of applicable securities
legislation. Forward -looking statements can generally be identified by the use of forward -looking
terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate ”, “believe”, “continue”,
“plans” or similar terminology. Forward -looking statements include, but are not limited to, statements
relating to the anticipated closing of the Private Placement, the receipt of approval of the TSX and the
expected use of procee ds from the Private Placement. Forward -looking statements are necessarily based
upon the current belief, opinions and expectations of management that, while considered reasonable by
the Company, are inherently subject to significant business, economic, com petitive, political and social
uncertainties and other contingencies. Many factors could cause the Company’s actual results to differ
materially from those expressed or implied in the forward -looking statements. These factors include,
among others, market prices, metal prices, availability of capital and financing, general economic, market
or business conditions, as well as other risk factors set out under the heading “Risk Factors” in the Annual
Report on Form 10 -K for the year ended October 31, 2016 , whic h is available on SEDAR at
www.sedar.com. Investors are cautioned not to put undue reliance on forward -looking statements due to
the inherent uncertainty therein.