Silver BULL Announces Reverse Stock Split of Common Stock
4758739.6
September 15, 2020 OTCQB: SVBL, TSX: SVB
SILVER BULL ANNOUNCES REVERSE STOCK SPLIT OF COMMON STOCK
VANCOUVER, BC – (September 15, 2020) – Silver Bull Resources, Inc. (TSX: SVB; OTCQB: SVBL) ( "Silver
Bull" or the "Company") announced today that its board of directors has approved a 1 -for-8 reverse
stock split of the Company 's issued and outstanding common stock. The reverse stock split will be
effective prior to the stock market opening on Friday, September 18, 2020 , subject to receipt of all
necessary regulatory approvals, including the final approval of the T oronto Stock Exchange ( "TSX") and
the Nevada Secretary of State ("NSS").
In the reverse stock split, every eight pre -split shares of issued and outstanding common stock of the
Company will be convert ed into one post -split share of common stock, with all fractional shares being
rounded up to the nearest whole share. No fractional shares will be issued in connection with the
reverse stock split. In connection with the reverse stock split, the 300,000,00 0 pre -split authorized
shares of Silver Bull common stock will be proportionately reduced to 37,500,000 post -split authorized
shares of Silver Bull common stock. Proportional adjustments will also be made to the Company 's
outstanding stock options.
As a result of the reverse stock split, each shareholder 's percentage ownership interest in the Company
and proportional voting power will remain virtually unchanged, except for minor adjustments that may
have resulted from rounding fractional shares into whole s hares. In addition, the rights and privileges of
the holders of Silver Bull common stock will be unaffected by the reverse stock split.
The reverse stock split will become effective as of 12:01 a.m. PT on September 18, 2020, and Silver Bull
common stock will begin trading on the TSX and the OTCQB on a post -split basis at the open of trading
on Friday, September 18, 2020 , subject to receipt of all necessary regulatory approvals , including the
approval of the TSX and the NSS . The Company 's ticker symbol on th e OTCQB will remain unchanged,
although a "D" will be placed at the end of the SVBL ticker symbol (SVBLD) for 20 business days following
the reverse stock split. Silver Bull common stock will also be identified under a new CUSIP number
(827458209).
Any shareholder of Silver Bull common stock who holds its shares in book-entry or other electronic form
does not need to take any action, as the effect of the reverse stock split will automatically be reflected in
its account. Any shareholder of Silver Bull commo n stock who hold its shares in certificated form will be
mailed a letter of transmittal providing instructions for how to exchange its existing stock certificate for
a stock certificate with a stamp indicating the new CUSIP number.
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 .
Silver Bull recently signed an option to purchase agreement for the "Beskauga" copper-gold project in
Kazakhstan. This agreement is still subject to on the ground due diligence when safe travel due to COVID
to the region allows. In addition, Silver Bull owns the Sierra Mojada Project which is located 150
kilometers north of the city of Torreon in Coahuila, Mexico, and is highly prospective for silver and zinc
and is currently under a joint venture option with South32 Ltd.
About the Sierra Mojada deposit: Sierra Mojada is an open pittable oxide deposit with a NI43 -101
compliant measu red and indicated "global" resource of 70.4 million tonnes grading 3.4% zinc and
38.6g/t silver at a $13.50 NSR cutoff giving 5.35 billion pounds of zinc and 87.4 million ounces of silver.
Included within the "global" resource is a measured and indicated "high grade zinc zone" of 13.5 million
tonnes with an average grade of 11.2% zinc at a 6% cutoff, giving 3.336 billion pounds of zinc, and a
measured and indicated "high grade silver zone " of 15.2 million tonnes with an average grade of
114.9g/t silver at a 50g/t cutoff giving 56.3 million ounces of silver. Mineralization remains open in the
east, west, and northerly directions. Approximately 60% of the current 3.2 kilometer mineralized body is
at or near surface before dipping at around 6 degrees to the east.
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 to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This
news 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 United States Securi ties and Exchange Commission (the "SEC"). The estimation of measured, indicated and
inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of
proven and probable reserves. U.S. investors are cauti oned not to assume that measured and indicated mineral
resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to
their existence 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 measured 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 do es not constitute "reserves" by SEC standards as in
place tonnage and grade without reference to unit measures. Accordingly, the information contained in this news
release may not be comparable to similar information made public by U.S. companies that are not subject NI 43 -
101.
Cautionary Note regarding Forward-looking Statements: This news release contains forward -looking statements
regarding future events and Silver Bull 's future results that are subject to the safe harbors created under the U.S.
Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Securities
Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward -looking statements include,
among others, statements re lating to the tim ing and other aspects of the proposed reverse stock split . These
statements are based on current expectations , beliefs and assumptions of Silver Bull 's management. Words 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 intended
to identify such forward -looking statements. Forward -looking statements are subject to a number of assump tions,
risks and uncertainties, many of which are beyond our control, including such factors as obtaining the requisite
approvals from the Toronto Stock Exchange, the Financial Industry Regulatory Authority and others to effectuate
the reverse stock split and other matters discussed under the caption "Risk Factors" in our Annual Report on Form
10-K for the fiscal year ended October 31, 2019, our Quarterly Reports on Form 10-Q for the interim period s ended
January 31, 2020 and April 30, 2020, and our other p eriodic and current reports filed with the SEC and available on
www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned
that forward-looking statements are not guarantees of future performance and that act ual results or developments
may differ materially from those expressed or implied in the forward -looking statements. Any forward -looking
statement made by us in this release is based only on information currently available to us and speaks only as of
the d ate 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.