Silver Bullet Mines Corp. Commences Processing Operations at Columbia / Gold Queen
Silver Bullet advances first Columbia/Gold Queen shipments and secures a $670,000 debenture to fund the project ramp-up.
Silver Bullet Mines Corp. has shifted its primary processing focus to the newly acquired Columbia/Gold Queen Complex in Arizona to fulfill a commitment to ship up to 36,000 tons annually to Ocean Partners USA Inc. Approximately 80 tons of mineralized material from the Columbia Mine are currently at the mill for processing, marking the first shipments from this complex.
The company announced a $670,000 convertible debenture financing to fund further development of the complex and working capital. Terms include a 12% annual interest rate, a three-year term, conversion at $0.12/share, and 6.7 million warrants exercisable at $0.16/share.
Exploration during new access road construction intercepted four high-grade gold zones with initial internal assays showing elevated gold, silver, copper, and iron values. Comprehensive third-party assays are pending.
The company issued 114,815 common shares at $0.125 to a consultant pursuant to a long-term agreement.
Silver Bullet Mines Corp. (SBMI) announced a $670,000 debenture, a financing structure featuring a 12% interest rate and warrant coverage that is standard for early-stage mining companies in the ramp-up phase. This development represents an expected, incremental step in the company's "hub-and-spoke" operational plan, following the February 2026 acquisition of the Columbia and Gold Queen mines and the March 2026 offtake agreement with Ocean Partners.
While the announcement validates management's execution on infrastructure and offtake commitments, the exploration hits remain preliminary and based on internal assays. Without independent verification or NI 43-101 compliant resource estimates, the material impact on valuation is limited at this stage, and the fundamental pre-revenue status reflected in the provided financials remains unchanged.
Silver Bullet Mines Corp. operates a "hub-and-spoke" model centered on its wholly-owned modular mill in Globe, Arizona. The hub processes material from multiple "spoke" mines, including the KT Mine, Super Champ Mine, Washington Mine in Idaho, and the recently acquired Columbia and Gold Queen Mines in Arizona. The strategy focuses on acquiring past-producing or near-production assets with existing permits, rapidly ramping up high-grade gold, silver, and copper concentrate production, and selling directly to refiners or offtake partners.