Silver Bullet sees 27 oz/t Au at KT mine

Executive Summary

• Silver Bullet Mines reports a substantial increase in concentrate gold grade at its KT mine to >27 oz/ton, with visible gold observed in recent blast material.
• Underground assay results show a head grade of 0.8 oz/ton Au; roughly 150‑200 tons of high‑grade material are ready for shipment.
• The company completed key underground safety and access work, issued consulting shares, and confirmed ongoing cash‑flow plans to fund mill upgrades, exploration, and working capital.

Key Details

• Concentrate Grade: Latest high‑grade concentrate from KT mine measured at >27 oz/ton Au (visual inspection shows distinct gold line on shaker table).
• Visible Gold (VG): Significant VG discovered in material from the latest blast; 150–200 tons of this material staged for shipment to mill.
• Underground Assays: Head grade from underground work reported at 0.8 oz/ton Au as of 25 Sept 2025.
• Processing Summary: Approximately 125 tons processed (mix of waste and new ore), yielding >2 tons of high‑grade concentrate.
• Site Work Completed:
• Timbered adit opening & fire‑proofing.
• Blasted floor (~4 ft) for better underground access.
• Installed ventilation system.
• Prepared rock‑bolting plan as mining advances.
• Implemented required safety improvements (MSHA & Department of Mines).
• Future Plans:
• Anticipated revenue from KT (gold) and SC (silver) concentrates to fund mill capacity expansion, sulphide processing, and assay facility upgrades.
• Planned detailed Arizona exploration program slated for late 2025/early 2026.
• Goal to avoid additional financing until potential copper porphyry decision.
• Consulting Agreement: Consultant engaged on 1 Dec 2023 for 36 months at $10,000/month payable in common shares; issued 187,500 shares @ $0.16 (27 Jun 2025) and 113,208 shares @ $0.265 (22 Sept 2025).
• Third‑Party Analysis: Awaiting multielement assay results for KT concentrate; pending results will enable advancement of SC concentrate sales identified on 9 July 2025.
• Safety Incident Note: Recent historic rain event in Globe, AZ caused community fatalities and damage; Silver Bullet’s operations remained undamaged and continue running.

Notable Quotes

“Historically, small mines made up the backbone of the mining industry, and we believe that is coming back. We believe that SBMI will be one of the leaders in this renaissance of small‑scale high‑grade precious/base metal mining.” – John Carter, CEO

Materiality Assessment: Material – Positive (significant grade improvement and operational advancements likely to impact future revenue and investor perception).