Silver BULL Completes a 5,297 LINE Kilometer Airborne Geophysical Survey ON the Sierra Mojada Project, Coahuila, Mexico.
November 20, 2018 OTCQB: SVBL, TSX: SVB
SILVER BULL COMPLETES A 5,297 LINE KILOMETER AIRBORNE
GEOPHYSICAL SURVEY ON THE SIERRA MOJADA PROJECT, COAHUILA,
MEXICO.
Vancouver, British Columbia – Silver Bull Resources, Inc. (OTCQB: SVBL, TSX: SVB) (“Silver Bull”)
is pleased to announce it has completed a 5,297 line kilometer helicopter-borne Versatile Time
Domain Electro Magnetic (VTEM) and Magnetic Geophysical Survey over the Sierra Mojada
Project in Coahuila, Mexico.
The survey provides complete geophysical coverage over 4 main regional prospects in
the licence area, including over the main deposit at Sierra Mojada.
It targets over 50 kilometers of the San Marcos fault which is believed to be the main
control of mineralization in the district.
Successful track record: VTEM surveys are recognized as a successful exploration tool in
other CRD systems in Mexico and around the globe.
The VTEM survey was conducted as part of the work program under a Joint Venture option with
South32 Limited (ASX/JSE/LSE: S32) ("South32"). The survey will aid in refining the design of an
upcoming drill program expected to commence in the first quarter of 2019.
South32 Joint Venture Option: In June 2018 Silver Bull signed an agreement with a wholly owned
subsidiary of South32 whereby Silver Bull has granted South32 an option to form a 70/30 joint
venture with respect to the Sierra Mojada Project. To maintain the option in good standing,
South32 must contribute minimum exploration funding of US$10 million ("Initial Funding")
during a 4 year option period with minimum aggregate exploration funding of US$3 million, US$6
million and US$8 million to be made by the end of years 1, 2 and 3 of the option period
respectively. South32 may exercise its option to subscribe for 70% of the shares of Minera
Metalin S.A. De C.V. ("Metalin"), the wholly owned subsidiary of Silver Bull which holds the claims
in respect of the Sierra Mojada Project, by contributing US$100 million to Metalin for Project
funding, less the amount of the Initial Funding contributed by South32 during the option period.
About Silver Bull : Silver Bull is a well-financed 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.
About the Sierra Mojada deposit: Sierra Mojada is an open pittable oxide deposit with a NI43 -
101 compliant measured 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 114.9 g/t silv er at a 50g/t cutoff giving 56.3 million ounces of silver.
Mineralization remains open in the east, west, and northerly directions. Appr oximately 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 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 United
States Securities 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 cautioned 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 m ineral 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 measures. Accordingly, the information contained in this press 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 (the "Securities Act"), and
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and applicable Canadian securities laws.
Forward-looking statements include, among others, statements regarding mineral resource estimates and timing of
expected drilling. These statements are based on current expectations, estimates, forecasts, and projections about
Silver Bull's exploration projects, the industry in which S ilver Bull operates and the 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 assumptions, risks and uncertainties, many of which are beyond our control, including such factors as
the results of exploration activities and whether the results continue to support continued exploration activities,
unexpected 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 Factors" in our Annual Report on
Form 10-K for the fiscal year ended October 31, 201 7 and our Quarterly Report on Form 10 -Q for the interim period
ended April 30, 2018 , as amended, a nd our other periodic 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 performanc e and that actual 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 on ly 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.