SVB.TO · 2024-02-27 12:00:00

Silver Bull Provides Update on Its Arbitration Claim Against Mexico

Legal & Disputes

VANCOUVER, British Columbia, Feb. 27, 2024 -- Silver Bull Resources, Inc. (“ Silver Bull ” or the “Company”) provides an

update on progress with its international arbitration claim against the United Mexican States (“Mexico ”).

Since our previous update on September 26, 2023, a number of important steps have been achieved in the arbitration process.

These include:

• The appointment of a three-person arbitration panel (the “Tribunal”) by the International Centre for Settlement of

Investment Disputes (“ICSID”). The Tribunal convened its first session with the parties on February 13, 2024.

• Engagement of a quantum expert by the Company to assess the Company’s claim. The evaluation is underway and will

serve as the foundation for determining the value of Silver Bull’s claim against Mexico.

• Establishment of a definitive timeline agreed upon by both parties and the ICSID Tribunal. Silver Bull anticipates filing its

Memorial in May 2024, with the Arbitration hearing slated for October 2025.

• The Company and its legal representatives at Boies Schiller Flexner continue to prepare the case. Document analysis

and interviews with pertinent personnel are progressing as scheduled.

For background on the basis for the arbitration and ongoing updates with respect to the arbitration, please refer to the

Company’s website www.silverbullresources.com/news.

Regarding the arbitration proceedings, Silver Bull is being represented by the global law firm, Boies Schiller Flexner, and is

financially supported by Bench Walk Advisors via a Litigation Funding Agreement for up to US$9.5 million to finance the case.

On behalf of the Board of Directors

“Tim Barry”

Tim Barry, CPAusIMM

Chief Executive Officer and Director

INVESTOR RELATIONS:

Cautionary note regarding forward looking statements: This news release may contain certain information that is forward-

looking and is subject to important risks and uncertainties (such statements include statements regarding the final approval

of the Private Placement by the Exchange and other statements implying a future state which are usually accompanied by

words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Any forward

-looking statements in this document are intended to provide Silver Bull security holders and potential investors with

information regarding Silver Bull, including management's assessment of Silver Bull’s future plans and financial outlook. Any

forward-looking statements reflect Silver Bull's beliefs and assumptions based on information available at the time the

statements were made and as such are not guarantees of future performance. As actual results could vary significantly from

the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-

oriented information or financial outlooks for anything other than their intended purpose. There is no guarantee that the

Company will be successful in obtaining Exchange approval in respect of the Private Placement, that any investors shall

invest in the Private Placement on the terms outlined herein or at all. For additional information on the assumptions made, and

the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Company’s

filings under Silver Bull’s profile on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at

www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance 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 news 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 written

or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.