None
SEDAR Interim Financial Statements
SBMI · Price
[
{
"companyName": "Silver Bullet Mines Corp.",
"reportingPeriodEnd": "2025-12-31",
"reportStatus": "Unaudited",
"auditorName": null,
"auditorKeyMatters": [],
"balanceSheet": {
"cashAndEquivalents": 365686,
"miscellaneousReceivables": 25434,
"prepaidExpensesAndDeposits": 154397,
"totalCurrentAssets": 545517,
"propertyMillAndEquipment": 3019479,
"totalAssets": 3564996,
"accountsPayableAndAccruedLiabilities": 1476314,
"convertibleDebt": 308385,
"notePayable": 68531,
"loanPayable": 308385,
"totalCurrentLiabilities": 2161615,
"convertibleDebentures": 0,
"totalLiabilities": 2161615,
"shareCapital": 22443614,
"contributedSurplus": 1306148,
"warrants": 1914237,
"equityComponentOfConvertiblePromissoryNote": 0,
"accumulatedOtherComprehensiveLossIncome": 8222,
"deficit": -24268840,
"totalShareholdersEquity": 1403381,
"totalLiabilitiesAndShareholdersEquity": 3564996,
"cashPerShare": 0.0026,
"workingCapitalPerShare": -0.0115
},
"incomeStatement": {
"mineralPropertyDevelopmentExpense": 1553274,
"explorationExpense": 35412,
"generalAndAdministrative": 329740,
"depreciationExpense": 66528,
"professionalFees": 73812,
"financeExpense": 69065,
"shareBasedCompensation": 795096,
"netLossForThePeriod": -2922927,
"exchangeDifferencesArisingOnTranslationOfForeignOperations": -10989,
"comprehensiveLossForThePeriod": -2911938,
"basicAndDilutedLossPerShare": -0.02,
"weightedAverageSharesOutstanding": 131892000
},
"cashFlowStatement": {
"netLoss": -2922921,
"accretion": 36757,
"depreciation": 66528,
"unrealizedForeignExchange": 3449,
"sharesForService": 60000,
"shareBasedCompensation": 795096,
"miscellaneousReceivables": -10461,
"prepaidExpenses": -110415,
"accountsPayableAndAccruedLiabilities": -207992,
"netCashUsedInOperatingActivities": -2289965,
"additionsOfPropertyMillAndEquipment": -20621,
"netCashUsedInInvestingActivities": -20621,
"issuanceOfCommonShares": 1424250,
"shareIssueCosts": -55092,
"repaymentOfNotePayable": -53182,
"exerciseOfWarrants": 1076434,
"exerciseOfOptions": 30000,
"convertibleDebenturesNet": 0,
"netCashProvidedByFinancingActivities": 2422410,
"foreignExchangeEffectOnCashAndCashEquivalents": 14780,
"netChangeInCashAndCashEquivalents": 126604,
"cashAndCashEquivalentsBeginningOfPeriod": 239082,
"cashAndCashEquivalentsEndOfPeriod": 365686
},
"investmentsAndOtherAssets": [
{
"type": "Mineral Property",
"description": "Buckeye Silver Mine (lease on patented land)",
"ownershipPercentage": null,
"value": null,
"notes": "Subject to escalating lease payments and 5% gross royalty on metal production."
},
{
"type": "Mineral Property",
"description": "Super Champ Mine Property (option to lease exercised)",
"ownershipPercentage": null,
"value": null,
"notes": "Indefinite term lease with gross royalty on product sold; acquired 11 contiguous unpatented claims."
},
{
"type": "Mineral Property",
"description": "King Tut Mine (acquired July 23, 2025)",
"ownershipPercentage": null,
"value": null,
"notes": "Past-producing high-grade gold mine on BLM land (~80 acres)."
},
{
"type": "Mineral Property",
"description": "Washington Mine Property (Idaho)",
"ownershipPercentage": 100,
"value": null,
"notes": "100% interest in 48 ha property; development expenses incurred."
},
{
"type": "Exploration Property",
"description": "Black Diamond Property (Arizona)",
"ownershipPercentage": 100,
"value": null,
"notes": "232 unpatented mineral claims; annual BLM payments required."
},
{
"type": "Exploration Property",
"description": "Nevada Property",
"ownershipPercentage": 100,
"value": null,
"notes": "12 unpatented mineral claims in Esmeralda and Nye Counties; annual BLM payments required."
}
],
"shareStructure": {
"authorizedShares": "unlimited",
"issuedShares": 144315554,
"classesOfShares": ["common shares"],
"warrants": [
{
"number": 819042,
"exercisePrice": 0.17,
"expiryDate": "2026-01-09"
},
{
"number": 6500000,
"exercisePrice": 0.35,
"expiryDate": "2026-08-11"
},
{
"number": 400000,
"exercisePrice": 0.16,
"expiryDate": "2027-05-08"
},
{
"number": 8500000,
"exercisePrice": 0.16,
"expiryDate": "2027-05-13"
},
{
"number": 150000,
"exercisePrice": 0.18,
"expiryDate": "2027-10-02"
},
{
"number": 8400000,
"exercisePrice": 0.18,
"expiryDate": "2027-10-16"
},
{
"number": 4283333,
"exercisePrice": 0.16,
"expiryDate": "2027-12-27"
},
{
"number": 1450000,
"exercisePrice": 0.16,
"expiryDate": "2028-01-10"
},
{
"number": 14462663,
"exercisePrice": 0.16,
"expiryDate": "2028-02-14"
},
{
"number": 4016160,
"exercisePrice": 0.22,
"expiryDate": "2028-05-20"
},
{
"number": 755500,
"exercisePrice": 0.22,
"expiryDate": "2028-06-20"
},
{
"number": 5337143,
"exercisePrice": 0.28,
"expiryDate": "2028-08-14"
},
{
"number": 1445000,
"exercisePrice": 0.28,
"expiryDate": "2028-08-19"
}
],
"options": [
{
"number": 428571,
"exercisePrice": 0.3,
"expiryDate": "2026-12-31"
},
{
"number": 1150000,
"exercisePrice": 0.15,
"expiryDate": "2027-12-31"
},
{
"number": 800000,
"exercisePrice": 0.1,
"expiryDate": "2028-06-30"
},
{
"number": 1000000,
"exercisePrice": 0.16,
"expiryDate": "2029-02-12"
},
{
"number": 1000000,
"exercisePrice": 0.35,
"expiryDate": "2026-02-15"
},
{
"number": 4000000,
"exercisePrice": 0.3,
"expiryDate": "2030-09-19"
}
],
"rightsConvertibleInstruments": "Convertible debentures and promissory notes with equity conversion features."
},
"managementCompensation": {
"currency": "CAD",
"periods": {
"sixMonthsEndedDecember312025": {
"salaries": 165090,
"shareBased": 0,
"total": 165090
},
"sixMonthsEndedDecember312024": {
"salaries": 218348,
"shareBased": 0,
"total": 218348
}
},
"namedIndividuals": [],
"otherRelatedPartyTransactions": [
{
"counterparty": "Silver Sevens Exploration LLC",
"description": "Administrative services and sub-contract labour provided by entity controlled by Vice President Mining",
"amount": 1282280,
"period": "Six months ended December 31, 2025"
},
{
"counterparty": "Officers of the Company",
"description": "Amounts owing included in accounts payable and accrued liabilities",
"amount": 795782,
"period": "As at December 31, 2025"
}
]
},
"subsequentEvents": [
{
"eventDate": "2026-01-06",
"description": "Issued 310,000 common shares pursuant to exercise of warrants for cash proceeds of $52,700",
"impactValue": 52700
},
{
"eventDate": "2026-01-09",
"description": "Issued 466,667 common shares pursuant to exercise of warrants for cash proceeds of $79,333",
"impactValue": 79333
},
{
"eventDate": "2026-01-09",
"description": "42,375 warrants and 21,700 broker warrants expired unexercised",
"impactValue": null
},
{
"eventDate": "2026-01-19",
"description": "Acquired Columbia Mine and Gold Queen Mine for nominal cash consideration",
"impactValue": null
},
{
"eventDate": "2026-01-22",
"description": "Paid $25,000 USD against note payable",
"impactValue": -25000
},
{
"eventDate": "2026-01-30",
"description": "Issued 2,625,000 common shares pursuant to exercise of warrants for cash proceeds of $456,000",
"impactValue": 456000
}
]
}
]
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