Silver Bullet Mines Corp. (TSX-V: SBMI) (OTCQB: SBMCF)  is pleased to announce it has closed on the Debenture financing announced August 2, 2024. Please see that press release for the characteristics of the Debenture. The amount closed upon is $1,118,000.

Cash commissions of $13,500 were paid and 135,000 broker warrants were issued in connection with this financing.

The use of proceeds is to continue work at the Buckeye Silver Mine in Arizona, to continue work at the former producing Washington Mine in Idaho, to mine and process material from the third party property as described in the Company’s news release of September 24, 2024, and for working capital.

In its news releases of September 24, 2024 and October 9, 2024, the Company announced it had entered into a relationship with an arm’s length third party for the processing of mineralized material from that third party’s nearby property. The Company has completed its due diligence review of the Land with regards to the mineralized silver material it may contain. As a result of the positive results of that due diligence, the Company is pleased to announce it has entered into a lease agreement for the Land. Such lease has no end date and can only be terminated by SBMI, in consideration for a gross royalty on the sale of product produced by SBMI from the Land.

Due to what SBMI reasonably believes to be better economic efficiencies, SBMI intends to focus the majority of its resources on producing saleable product from the Land. The closing of the financing referred to above gives SBMI the ability to also work at the Buckeye Mine and at the Washington Mine in Idaho.