Mr. Tim Barry reports

SILVER BULL PROVIDES EXPLORATION UPDATE

Silver Bull Resources Inc. is providing an update on its exploration activities at the Sierra Mojada project in Coahuila, northern Mexico.

Silver Bull recently commenced an exploration program to target potential sulphide mineralization at depth believed to be underneath and adjacent to the main zone of mineralization already defined at Sierra Mojada. Deep structures are thought to be the conduits from which the shallow mineralization seen on the project has been emplaced and are the targets of this program. A number of drill holes have previously intercepted structurally controlled sulphide mineralization such as drill hole B11144, which intercepted 8.45 metres at 17 per cent zinc, 5.45 per cent lead and 60 grams per tonne silver, starting at 193 m. In addition, recent underground mapping and sampling identified another area of structurally controlled sulphide mineralization with underground channel samples returning grades up to 690 g/t silver, 15.25 per cent zinc, 4.8 per cent lead and 1 per cent copper.

During August and September, the company completed a 590-line-kilometre airborne magnetic geophysics survey over the main deposit at Sierra Mojada targeting structures at depth. In addition, over 20,000 m of drill core have been relogged over areas of high interest and a new structural model has been developed for the main deposit.

This work has identified a number of deep structures that are coincident with known high-grade historical silver and zinc mines in the area. Strong copper anomalies are also coincident with these structures and are thought to represent hotter fluids coming up from depth.

Based on this work, Silver Bull has applied for a drill permit to test these areas with an initial 3,000 m drill program. The program will consist of six to nine holes up to 900 m deep. Major Drilling has been contracted for this work and is expected on-site in early November, as soon as possible after the drill permits are issued.

Sample analysis and quality assurance/quality control

All samples have been analyzed at ALS Chemex in North Vancouver, B.C., Canada. Samples are first tested with the ME-ICP41m procedure which analyzes for 35 elements using a near total aqua regia digestion. Samples with silver values above 100 parts per million are reanalyzed using the Ag-GRA21 procedure which is a fire assay with a gravimetric finish. Samples with zinc, lead and copper values above 10,000 ppm (1 per cent) are reanalyzed using the AA46 procedure, which is a near total aqua regia digestion with an atomic absorption finish.

A rigorous procedure is in place regarding sample collection, chain of custody and data entry. Certified standards and blanks, as well as duplicate samples, are routinely inserted into sample shipments to ensure integrity of the assay process.

The technical information of this news release has been reviewed and approved by Tim Barry, chartered professional geologist (CP, AusIMM), a qualified person for the purposes of National Instrument 43-101.

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