Mr. Tim Barry reports

SILVER BULL PROVIDES UPDATE ON SIERRA MOJADA

Silver Bull Resources Inc. has provided an update on its efforts to restore clear legal ownership on the Sierra Mojada silver-zinc project in Coahuila, Mexico. Management continues to believe that the scale of the deposit and its higher-grade silver and zinc zones provide a meaningful foundation for potential long-term shareholder value.

Legal update: As previously announced, the company's international arbitration claim against Mexico for the amount of $374.9-million (U.S.) (including interest) in damages was dismissed on jurisdictional and time-limitation grounds.

During the 3.5-year arbitration process, a local individual third party pursued proceedings in the lower Mexican courts seeking control of the Sierra Mojada project through actions the company considers improper and without merit. These proceedings resulted in an adverse ruling against the company and a lien over the project's mineral licences. Although the licences are now subject to this disputed encumbrance, Silver Bull remains their registered owner and is pursuing legal remedies to protect its rights and shareholders' interests. These efforts involve risk and may not succeed.

Subject to resolving these matters, the company's objective is to advance Sierra Mojada toward feasibility and potential development, potentially alongside a strong industry partner. Management remains committed to protecting the company's interests and pursuing a practical path to realize the project's value for shareholders.

Tim Barry, president and chief executive officer, commented: "The arbitration outcome was a setback, but Sierra Mojada's substantial mineral resource, valued two years ago at greater than $374.9-million (U.S.) is now valued substantially higher due to the rise in silver and zinc prices, remains the basis for our efforts to protect and recover unchallenged title to the project. Years of exploration, whereby the company incurred more than $80-million (U.S.) in costs, have defined a large silver-zinc deposit with distinct higher-grade zones and further exploration potential. Our immediate priority is to restore clear title and access. If successful, our objective is to evaluate a path towards feasibility and development, potentially with a strong industry partner. We remain committed to pursuing that opportunity for shareholders while recognizing the legal, technical and financial work still required."

The Sierra Mojada deposit: Silver Bull's only asset is the Sierra Mojada deposit located in Coahuila, Mexico. Sierra Mojada is an open pittable oxide deposit with a National Instrument 43-101-compliant measured and indicated "global" mineral resource of 70.4 million tonnes grading 3.4 per cent zinc and 38.6 g/t silver for 5.35 billion pounds of contained zinc and 87.4 million ounces of contained silver. Included within the global mineral resource is a measured and indicated high-grade zinc zone of 13.5 million tonnes with an average grade of 11.2 per cent zinc at a 6-per-cent cut-off, for 3.336 billion pounds of contained zinc, and a Measured and Indicated "high grade silver zone" of 15.2 million tonnes with an average grade of 114.9 g/t silver at a 50 g/t cut-off for 56.3 million contained ounces of silver. Mineralization remains open in the east, west and northerly directions.

We seek Safe Harbor.