Mr. Ehsan Agahi reports

BULLET EXPLORATION INC. AMENDS OPTION TERMS FOR JEFFERSON GOLD PROPERTY

Bullet Exploration Inc. has successfully amended the payment terms with respect to the option agreement underlying the Jefferson gold property.

Bullet, through its wholly owned subsidiary 1365826 Nevada LLC ("136 Nevada"), is a party to an option agreement for the acquisition of a 100% interest in certain mineral claims knows and the Jefferson Property (the "Property"), which is situated within the established Moors Creek mining district of Nye County, Nevada. The Property spans 1,068 hectares (2,640 acres) and contains 132 claims, strategically located among some of the most productive mines in the region.

Pursuant to the terms of the original option agreement, 136 Nevada had the exclusive right to earn an undivided 100-per-cent interest in and to the Property by making the following payments:

Original Payment Terms:

July 5, 2022: $65,000 (U.S.) (paid);

July 5, 2023: $85,000 (U.S.) (paid);

July 5, 2024: $105,000 (U.S.);

July 5, 2025: $3,745,000 (U.S.).

Pursuant to the amendment, the Revised Payment Terms are as follows:

July 5, 2022: $65,000 (U.S.) (paid);

July 5, 2023: $85,000 (U.S.) (paid):

July 5, 2024: $135,000 (U.S.)

July 5, 2025: $315,000 (U.S.)

July 5, 2026: $600,000 (U.S.)

July 5, 2027: $2,900,000 (U.S.)

In addition, the option agreement calls for a 1-per-cent net smelter return tied to the Property until the aggregate payments of the NSR total $10-million (U.S.), after which time the NSR will cease.

"We are pleased to have successfully negotiated a drastic reduction in near term cash payments for the Jefferson Gold Property," stated Ehsan Agahi President and CEO. He continued, "We are eager to test the prospectivity of the Property and look forward to actively advancing our exploration efforts over the coming months."

We seek Safe Harbor.