In this InvestorNews interview with host Tracy Weslosky, John Carter, CEO and Director of Silver Bullet Mines Corp. (TSXV: SBMI | OTCQB: SBMCF), delves into the unique origin story of the company and its innovative approach to mining and silver production. Carter recounted a story linking their McMorris Mine to the legendary Lone Ranger series, shedding light on the mine’s history. He explained that the author of the Lone Ranger book “actually came out to the McMorris Mine and bought silver directly from the mine, which they used to make silver bullets for promoting the Lone Ranger series.” This historical tidbit not only underscores the mine’s storied past but also serves as a testament to its long-standing significance in silver production.

Further into the discussion, Carter highlighted SBMI’s unconventional strategy towards mining and financial sustainability. With over 40 years of experience, Carter has witnessed the cyclic challenges of the sector, including the need for continuous capital raising and its dilutive effects on shareholders. SBMI’s strategy circumvents these issues by reactivating past-producing mines and utilizing existing resources to fund further exploration and development, rather than relying solely on external financing. This model is currently being applied in Arizona and Idaho, with the company already “producing silver” in Arizona and planning to use the generated revenues to bolster exploration efforts.

Furthermore, the recent strategic business alliance with Countryman Investments and the appointment of Dave Richardson to SBMI’s Advisory Board signal a significant strengthening of the company’s financial and operational capabilities.

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About Silver Bullet Mines Corp.

Silver Bullet Mines Corp. (SBMI) is making headway in the gold and silver production industry. SBMI recently revealed a third potential revenue stream through a partnership to process around 900 pounds of high-grade gold concentrate at its Globe, Arizona facility, benefiting from its advanced gravity circuit. Besides this, SBMI’s primary operations focus on silver extraction from the Buckeye Silver Mine and silver/gold production at its Washington Mine in Idaho, to be processed at its fully operational mill. The company recently reported promising high-grade silver findings from the Treasure Room and is working on a financing strategy for its operations. An ambitious goal is to stabilize the Treasure Room for deeper exploration. Another highlight was the successful interception of a mineral-rich zone at the Buckeye Mine, known as “Zone1,” believed to contain higher-grade silver. The company plans to continue mining this vein and refine the material at its Globe mill. Recent developments position SBMI as a leading player in silver mining, suggesting a bright future for the company and its investors.

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Disclaimer: Silver Bullet Mines Corp. is an advertorial member of InvestorNews Inc.

This interview, which was produced by InvestorNews Inc. (“InvestorNews”), does not contain, nor does it purport to contain, a summary of all material information concerning the Company, including important disclosure and risk factors associated with the Company, its business and an investment in its securities. InvestorNews offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This interview and any transcriptions or reproductions thereof (collectively, this “presentation”) does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase any securities in the Company. The information in this presentation is provided for informational purposes only and may be subject to updating, completion or revision, and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any information herein. This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. This presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisors. Each person to whom this presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. Prospective investors are urged to review the Company’s profile on SedarPlus.ca and to carry out independent investigations in order to determine their interest in investing in the Company.

I really like the story behind the company I’m going to discuss today. Now don’t confuse this with investment advice or a recommendation to rush out and buy the stock. I’m simply talking about the history of the property and the derivation of the company name as it relates to its flagship mining asset. The company is Silver Bullet Mines Corp. (TSXV: SBMI | OTCQB: SBMCF) and it actually has a traceable history to the Lone Ranger and his calling card, the silver bullet. If you want more fun and interesting historical facts about the company’s flagship Black Diamond Property please go and have a read here. If that has no appeal to you then no worries, we’ll get on with what’s attracting investor interest today.

As interesting as the back story is, the latest news out of Silver Bullet has far more appeal from an investor’s perspective, although a little operational background may be useful here. The Black Diamond property is located in Gila County, Arizona about ten miles north of the town of Globe and is centered on the mining area referred to as the Richmond Basin. The property covers approximately 4,793 acres (1,940 ha) and is host to several past producing underground primary silver mines. The Buckeye patent is contained within the east central part of the Black Diamond claim block and hosts the past producing Buckeye Mine, which was re-opened and test mined in 2017. Fast forward to July, 2022 and Silver Bullet announced it had successfully completed commissioning of its wholly owned 125 MTPD state of the art mill. By mid-July the Company announced it had successfully produced silver, which is remarkable considering they spent less than C$3 million building this fully functional mill.

However, after Silver Bullet processed roughly 60 tons of Buckeye Mine material at its 100%-owned mill, they encountered challenges in pouring proper silver dore bars to satisfy the outstanding sample run order. Further review of what caused these challenges turned into the kind of problem we all wished we could have. To help identify the possible source of the issues, the Company sent samples from its concentrates to Lone Pine Analytical, a third-party lab, for further analysis. That analysis revealed significant quantities of palladium and gold in the mineralized material. Like I said, as far as problems go, that’s a pretty good one to encounter.

For reference below, note that one ppm (part per million) is equivalent to one gram per ton and there are 28.34 grams in one ounce.

Source: Silver Bullet Mines Inc. September 26, 2022 Press Release

Early on Silver Bullet made the decision to build their mill in Arizona to high standards, and as a result they were able to immediately recognize there were significant amounts of elements other than silver in this material. Standard exploration techniques would not have found the gold or palladium without the expenditure of millions of exploration dollars, thus the company was able to achieve this more quickly and for much less money. Silver Bullet has found a potential buyer for the concentrates, who is likely able to process the palladium in addition to the gold and silver, but before making final decisions the company is waiting on further assay data and input from metallurgists, engineers and others.

Another exciting aspect about these newly discovered materials, aside from the fact that both gold and palladium sell for a significantly higher price than silver, is that palladium, platinum and most of the other materials identified above are on the critical minerals list. Readers can correct me if I’m wrong, but I believe the only significant producer of palladium in the U.S. is Sibanye-Stillwater in Montana, so this has broad reaching ramifications as “on-shoring” and security of supply increase in importance. There is anecdotal evidence of Pt-Pd production as a by-product of porphyry mining in the Globe area which could be a possible game-changer, not just for Silver Bullet but for mining in Arizona. And we all know how a rising tide lifts all boats when a specific geographic region becomes the focal point for an area play. Even better if it’s a critical mineral.

It’s exciting times for the team at Silver Bullet Mines. Stumbling upon high values minerals contained in your already high grade silver (a recent grab sample returned one assay graded 2,214.4 oz/t silver and another at 2,363.8 oz/t silver) is about as good as it gets for a junior miner. With a market cap of just under C$13 million it will be interesting to see how much cash flow the company can start generating when it figures out what to do with those pesky but incredibly valuable bonus materials.

In this InvestorIntel interview with host Chris Thompson, Silver Bullet Mines Corp.’s (TSXV: SBMI) VP Capital Markets and Director Peter Clausi provides an update on the recent assay results from Silver Bullet Mines’ Buckeye Mine in Arizona which returned values as high as 24,226 g/t silver.

In the interview, which can also be viewed in full on the InvestorIntel YouTube channel (click here), Peter Clausi talks about the production timeline for the Buckeye Silver Mine with pilot silver production anticipated within 2 months. Peter also talks about Silver Bullet Mines’ recently closed financing which was significantly oversubscribed, and provides an update on Silver Bullet Mines’ high-grade past-producing Washington gold-silver mine in Idaho.

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About Silver Bullet Mines Corp.

Silver Bullet Mines Corp. is a silver and copper exploration and development company with projects in the western USA. Their flagship project is the Black Diamond, close to 5,000 acres in the Miami-Globe copper camp and centered on the Richmond Basin. The basin is the site of the original 1870s native silver discoveries that brought prospectors to the now significant Globe copper camp. The story goes that a scouting party was fired upon by Apache Indians using bullets made of hammered native silver. Thus inspiring the company name – Silver Bullet Mines. The Richmond Basin is the location of several historic high grade silver-copper mines including: McMorris, La Plata, Helena, Silver Sevens, Buckeye and numerous associated prospects. Little work or extraction came from this area since the early 20th century as the camp focused on big copper mines. But these mine anchor this section of what is called the Arizona Silver Belt that extends from the famous Silver King near Superior, AZ and parallels the trend of the major copper deposits including the Magma mine. They believe the high grade silver is still there waiting for discovery.

It is well known in the mining industry that the old timers did not get all the gold and silver at their past producing mines. Modern day miners have the advantage of sophisticated equipment that is better able to find and track zones of mineralization. With that in mind, today’s company owns 5 past producing silver mines in Arizona, a former producer in Idaho on patented lands, and a greenfield site in Nevada.

Silver Bullet Mines Inc. (TSXV: SBMI) (“Silver Bullet”) is a junior miner looking to bring several past producing silver mines back into production. Silver Bullet’s flagship Black Diamond Property consists of almost 4,900 acres plus a 15.5-acre patented claim, plus a 65-acre site for its own mill. The Black Diamond Property is located in the major mining camp of Globe, Arizona, USA.

The Black Diamond Property

The Black Diamond Property is host to 5 past producing silver mines which include multiple shafts and over 74 adits. The 5 past producing silver mines are: McMorris Mine, McClellan Mine, Silver Seven Mine, La Plata Mine, and the Buckeye Mine. Silver Bullet’s plan is to have the Buckeye in pilot production in Q1 2022.

Historical records show McMorris Mine produced approximately 500,000 ounces at 250 oz/ton in direct shipping ore until 1893. In 2017, 5 tons were mined at Buckeye, from which 500 ounces of silver were produced as proof of concept of the mine’s potential to make a comeback.

A sample of the source of the legendary ‘lone ranger silver bullets’ produced from a neighboring mine

Current stage and next steps for Silver Bullet

Silver Bullet has already made major steps in preparing the Buckeye Mine for a restart of production. These include upgrades to the office, storage pad, assay lab, security and site roads, and an investment into the evaporation pond, water tank and septic system. The underground infrastructure has been prepared with a central decline portal secured and cleared to the vein face.

Silver Bullet is currently constructing a 125 ton per day state of the art pilot plant and anticipates bulk sample mining to commence in Q1 2022. The plan after that is to progress to full-scale production.

As the Buckeye Mine is being reopened, Silver Bullet intends to carry out confirmatory and exploration drilling at high grade targets at the McMorris Mine. At McMorris historical grades from underground sampling include 45 oz/ton in ore shoots and an average grade in remaining veins estimated at 10 oz/ton. Silver Bullet is targeting bringing the McMorris Mine back into production within 2 years.

In the public domain is a geological report completed in 1987 (predating NI 43-101), which indicated the potential for US$487.3 million of in-situ silver and gold on the McMorris property. The report’s author used commodity prices of US$450/oz gold and US$7/oz silver. McMorris represents only ~20% of SBM’s total land package; more exploration work must be carried out before that report can be confirmed.

Note: Investors should not rely on historical resources/reports until they are updated to meet NI 43-101 requirements.

The longer-term plan is to assess the full Black Diamond property and potentially increase production from either the other 3 past producing mines or from any new discovery. In addition, Silver Bullet also plans to explore its other property, the Washington Mine Property in Idaho.

Silver Bullet Mines working to restart the Buckeye Mine on their Black Diamond Property in Arizona, USA

Closing remarks

Silver Bullet Mines is a serious junior with very near-term plans to re-start its past producing Buckeye Mine. Beyond that, the Company intends to further explore and hopefully restart the McMorris Mine, where there appears to be enormous potential for both gold and silver.

Silver Bullet Mines now trades on the TSXV exchange after listing 2 days ago on December 6, 2021, following an oversubscribed offering raising C$6 million, with 55 million shares outstanding (29 million in escrow). Based on yesterday’s close at C$0.33 and 55 million shares outstanding the market cap would be C$18.15 million. Stay tuned.