Silver Bullet Mines Updates on Washington Mine in Idaho and Updates Financing

Core Viewpoint - Silver Bullet Mines Corp. (SBMI) is optimistic about the potential of the Washington Mine in Idaho, believing it could become a significant mining operation again based on recent exploration results and historical data [1]. Group 1: Exploration and Findings - The geological team has identified historical workings at the Washington Mine, particularly the original high-grade gold discovery area, with samples showing a red hue associated with gold [2]. - Down dip portions of the gold shoot are documented and may serve as high-priority drill targets to outline the extension of the original high-grade gold discovery from the early 1890s, which was purported to be 1 oz/ton [3]. - Historical reports indicate that the Subrosa Adit at the Washington Mine had silver grades of 32 oz/ton and gold grades of 0.13 oz/ton over 65 feet, with current efforts focused on safely opening this adit for sampling [4]. Group 2: Current Operations and Future Plans - The company has engaged a contract miner to expose the Berger Vein at surface, with ongoing detailed mapping and soil sampling indicating the presence of fine gold [5]. - A plan for underground mining is being developed, targeting a significant bulk sample for processing in the coming weeks, which may lead to a resource report compliant with NI 43-101 standards [6]. Group 3: Financing and Use of Proceeds - SBMI has closed a strategic financing round, issuing 6,782,143 units at $0.21 per unit, raising gross proceeds of $1,424,250, with cash commissions of $43,379 and additional finders warrants [7]. - Proceeds from the financing will be allocated to further site work at the Super Champ, expand the King Tut Gold Mine footprint, advance the Washington Mine, and for general working capital [8].