Burlington, Ontario--(Newsfile Corp. - May 4, 2023) - Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) ('SBMI' or 'the Company') is pleased to announce it has received the previously announced cash advance on its first order for its silver products from a third-party (the "Purchaser").
SBMI has received the sum of USD$225,000 from the Purchaser as a cash advance against the order for 500 kg of silver, to be delivered to the Purchaser in tranches or all at once. At today's pricing this first order represents more than USD$430,000 (more than CDN$570,000).
The Purchaser has indicated it intends to purchase 500 kg from SBMI each month for six months, including this order.
The first order is currently being processed from the stockpile at the mill and SBMI anticipates shipping it in whole or in part within 30 days. The Company continues to work with the Purchaser and other potential purchasers to develop a customer base for its silver/gold production.
At the Buckeye Mine, mining is ongoing. As per SBMI's January 16, 2023 press release, SBMI continues to drift along the vein to an area believed to contain higher grade mineralization (see page 8 of the Geologic Report dated January 8, 2021). The Company expects to encounter that area in the near future, although given the uncertainties inherent in mining no exact date can be given.
For further information, please contact:
Silver Bullet Mines Corp., CEO
Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
+1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of mineralized material; the presence of mineable economic mineralized material; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI's properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164802