Silver Bullet Mines Enters Long Term Supply Agreement with Ocean Partners US Inc.

The most recent news (March 2, 2026) announces a five-year framework supply agreement with Ocean Partners US Inc. This agreement covers the sale of high-grade mineralized material and concentrates from all of SBMI’s Arizona mines. Key terms include the supply of up to 36,000 tons of product per annum. Furthermore, Ocean Partners expressed interest in the Washington Mine in Idaho as it moves toward production. Operationally, the company confirmed its mill is running five days a week, and it has received payment for the first of five concentrate shipments recently sent to a refiner.

This news is Material - Positive because it solves the "last mile" risk for a junior producer: the guaranteed path to market. - Revenue Visibility: The 36,000 tons per annum capacity provides a clear ceiling for growth and revenue generation, transitioning the company from an explorer/developer to a commercial producer with a steady offtake partner. - Validation: Partnering with a global firm like Ocean Partners provides significant third-party validation of SBMI’s concentrate quality, which was previously a point of uncertainty. - Cash Flow: The confirmation of payment for the first shipment and the bi-weekly shipping target (mentioned in historical news) suggests the company is finally addressing its chronic working capital deficit. - Strategic Expansion: The inclusion of interest in the Idaho assets suggests the relationship could fund or facilitate the reopening of the Washington Mine.

SBMI operates a "hub and spoke" model in Arizona, centered around its 100%-owned mill in Globe, Arizona. - Flagship Project: The Buckeye Silver Mine and the KT (King Tut) Gold Mine in Arizona. - Secondary Project: The Washington Mine in Idaho, a past producer currently undergoing rehabilitation and exploration. - Model: The company aims to process high-grade material from multiple small-scale mines at its central facility to minimize capital expenditure per project.