Silver Bullet Mines shifts Arizona processing to Columbia and Gold Queen to meet major supply contract

Silver Bullet Mines Corp., a mineral exploration and development company listed on the TSX-V and OTC markets, has reconfigured its near-term processing priorities to concentrate on the Columbia and Gold Queen Complex in Arizona to meet a significant delivery contract with Ocean Partners USA Inc. Extensive field evaluations revealed the complex's capacity to consistently produce up to 36,000 tons of material annually for the commodities trading firm.

Management opted to prioritize this complex over the King Tut Mine, as other assets lacked the necessary production volume despite containing high mineral grades. The company transported its first shipments of direct ship ore (DSO) via a newly constructed access road to its mill in Globe, Arizona. About 80 tons of mineralized material are currently on-site, with processing into mineral concentrate underway.

Construction of the access road linking the Columbia Mine to a regional highway has been completed, albeit with minor weather-related delays and government permitting approvals. Workers are extending the roadway towards the Gold Queen Mine and have installed an adit, a horizontal mine entrance, into the deposit. During construction, they discovered four additional mineralized zones, with initial assays indicating elevated levels of gold, silver, copper, and iron, awaiting further analysis.

Geologists believe a limestone cap traps ascending mineral veins beneath it, suggesting the potential for multiple high-grade gold zones within the asset. The complex also encompasses the historical Steamboat Mine, where 100-year-old workings and rail infrastructure were discovered, previously used for transporting direct-shipped ore by mule train.

To finance development and working capital, Silver Bullet Mines arranged a $670,000 convertible debenture, a debt security convertible into common shares at $0.12 per share, bearing a 12% annual interest rate and including 6.7 million warrants for additional shares at $0.16 each. The company also issued 114,815 common shares on July 24, 2026, to settle terms under an approved consulting agreement established in December 2023.