Silver Bullet talks sampling plans at Washington

Executive Summary

• Silver Bullet Mines closed a strategic financing of 6,782,143 units at $0.21 per unit, raising gross proceeds of $1,424,250.
• The company provided extensive updates on field exploration and surface work at its wholly‑owned Washington mine in Idaho, including mapping of historic high‑grade gold zones and preparation for underground bulk sampling.
• Proceeds from the financing will fund continued work at the Super Champ project, expansion of the King Tut gold mine, advancement of the Washington mine, and general working capital.

Key Details

• Financing Structure: 6,782,143 units issued at $0.21 per unit; each unit includes one common share and one warrant exercisable at $0.28 per share for three years.
• Gross Proceeds: $1,424,250.
• Commission & Finder’s Warrants: Cash commissions of $43,379 paid; 208,067 finder’s warrants issued in connection with the financing.
• Use of Proceeds: Site work at Super Champ, expansion of King Tut gold mine footprint, advancement of Washington mine (Idaho), and general working capital.
• Washington Mine Exploration – Union Patent: Recent geological survey identified historic high‑grade gold workings; panned samples show red hue associated with gold; sampling for assay underway; detailed mapping initiated.
• High‑Grade Targets: Down‑dip extensions of the original 1890s discovery (≈1 oz/ton Au) identified as priority drill targets.
• Subrosa Adit: Historically reported 32 oz/ton Ag and 0.13 oz/ton Au over 65 ft; surface exposure completed; backhoe operator preparing adit for safe access and sampling.
• Berger Vein & Lindgren Zone: Surface exposure of Berger vein confirmed on May 1, 2025; ongoing detailed mapping and soil‑grid sampling; zone yields fine gold in panned material; potential targeting of adjacent Lindgren zone.
• Underground Mining Plan: Contract miner engaged to develop underground bulk sample extraction at Washington mine; work expected to commence within weeks.
• Future Resource Reporting: Management may commission a NI 43‑101 compliant resource report for the Washington mine based on accumulated data.

Notable Quotes

“The work and results in this phase of development coupled with the extraordinary results of previous work here leads us to believe the Washington mine has the potential to again be a significant mine,” – A. John Carter, CEO, Silver Bullet Mines Corp.