Silver BULL WINS Lawsuit IN Mexico
March 31, 2021 OTCQB: SVBL, TSX: SVB
SILVER BULL WINS LAWSUIT IN MEXICO
Vancouver, British Columbia – Silver Bull Resources, Inc. (TSX: SVB, OTCQB: SVBL) (“Silver Bull” or the
“Company”) is pleased to announce it has won a definitive and conclusive decision in its favor in a lawsuit
filed by a local mining co-operative called Minera Norteños in relation to the Sierra Mojada project . The
decision was made by the unanimous vote of three judges in the third Federal Circuit Court of Chihuahua.
Tim Barry, President, CEO and director of Silver Bull states, “ This ruling is welcome d, but not
unanticipated. This is the fourth time that the courts have ruled in our favor on this issue. Unfortunately,
we believe the plaintiff, Minera Norteños, was manipulated and ill advised by legal and other advisers .
Our legal team in Mexico is to be commended for patiently making progress in the face of numerous
tactics to delay a judgement on the merits of the case.
Despite the fact that the C ompany has at all times proceeded in accordance with the law, the Sierra
Mojada project remains under a n illegal blockade manned by a small group of radical members from
within Minera Norteños. We believe their actions do not represent the view of the vast majority of the
Minera Norteños members and wider local community , and we are working with authorities to resolve
the situation in a safe, fair, and timely manner. We remain committed to good faith dialogue with selected
members from Minera Norteños to find a solution that facilitates the resumption of the drilling program
halted by the blockade more than one year ago.
We are optimistic we will find a solution to the blockade and look forward to continuing our exploration
program with our exploration partner, South32 Limited (“South32”). Sierra Mojada remains one of the
largest undeveloped silver-zinc projects in Mexico. The silver-zinc mineralization sits largely at surface and
is open pittable and has excellent infrastructure close by. These types of deposits are rare.”
South32’s Option: In June 2018 , Silver Bull signed an agreement with a wholly owned subsidiary of
South32 whereby Silver Bull 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 b e 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.
Despite the blockade, South32’s option remains in good standing but is under a force majeure pause.
About Silver Bull: Silver Bull is a Vancouver -based mineral exploration company whose shares are listed
on the TSX and trade on the OTCQB in the United States. In addition to the Sierra Mojada project, Silver
Bull recently signed an Option Agreement to acquire the Beskauga Copper-Gold Project, located in North
Eastern Kazakhstan. The Beskauga deposit is an open pittable gold-copper-silver deposit with a NI 43-101
compliant “Indicated Mineral Resource” of 207 million tonnes grading 0.35 g/t gold, 0.23% coppe r and
1.09 g/t silver for 2.33 million contained ounces of gold, 476.1 thousand contained tonnes of copper &
7.25 million contained ounces of silver and an “Inferred Mineral Resource” of 147 million tonnes grading
0.33 g/t gold, 0.15% copper and 1.02 g/t silver for 1.56 million contained ounces of gold, 220.5 thousand
contained tonnes of copper & 4.82 million contained ounces of silver.
For additional details, please refer to the Beskauga Copper -Gold Project NI 43 -101 Technical Report
prepared by CSA Global Mining Industry Consultants dated February 8, 2021, which is available on SEDAR
at www.sedar.com and on the Company’s website at www.silverbullresources.com.
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 no t 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 sec urities 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 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 amend ed
(the "Exchange Act"), and applicable Canadian s ecurities laws. Forward -looking statements include, among others, statements
regarding finding a solution to the blockade, and the resumption of the drilling program, .at the Sierra Mojada project, and mineral
resource estimates. These statements are based on current expectations, estimates, forecasts, and projections about Silver Bull's
exploration projects, the industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull's management. Words
such as "expects," "anticipates," "targe ts," "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 forw ard-
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 s upport
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 R eport
on Form 10-K for the fiscal year ended October 31, 2020, our Quarterly Report on Form 10-Q for the interim period ended January
31, 2021, and 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 performance and that actual results or developments may differ materially from those expressed or implied in the
forward-looking statements. Any forw ard-looking statement made by us in this 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.