Mr. John Carter reports

SILVER BULLET MINES TO START PHASE TWO DEVELOPMENT AT WASHINGTON MINE INCLUDING MILL EVALUATION

After a highly successful summer exploration program at the Washington mine in Idaho, Silver Bullet Mines Corp. is commencing phase 2 of its development program.

The company announced on May 1, 2025, it had completed phase 1, which included driving a 12-foot-by-12-foot adit capable of allowing access to the multiple mineralized zones and setting up underground drill stations to help further define the geometry of those zones. Based on the data from phase 1, Silver Bullet strongly believes the Washington mine has significant potential not only for near-term processing but also to support the development of a National Instrument 43-101-compliant resource, which would support a long-term mining operation.

As per Silver Bullet's news release of Aug. 20, 2025, during phase 1, the company was able to carry out detailed surface exploration and to identify multiple gold and silver targets. This included identifying the location of the Berger and the Lindgren veins and identifying what is believed to be the site of the original discovery from the 1890s. As part of this fieldwork, Silver Bullet personnel was able to pan gold from multiple surface locations along the vein structures.

To follow up on the summer's work and to begin phase 2, the company has entered into an updated agreement with its previously announced contract miner. This phase 2 program has begun and is intended to include opening up the recently discovered Subrosa adit and mining a bulk sample from it. This structure is reasonably believed to contain significant high-grade silver and gold (see news release of Aug. 20, 2025).

A key part of phase 2 will be the processing of the material to be mined from the Washington mine. Silver Bullet has received and is evaluating a proposal from a local mill to process a bulk sample of such material. The company is also evaluating the feasibility of installing one of its own designed modular mills at site to process material from the mine. There is an area on the mine site, where such a mill could be installed.

After processing the bulk sample and receiving lab results for it, the following likely steps would be to open up the Washington silver/gold zone and to access the Berger vein.

In Arizona, the company is still awaiting the results of a third party multielement analysis on the concentrate from material taken from the Super Champ mine. Upon receipt of such results, Silver Bullet will be able to advance the sales process with the buyer identified on July 9, 2025.

The company has granted four million stock options to officers, directors and consultants. The stock options vest immediately, have a five-year term and are exercisable at 30 cents.

We seek Safe Harbor.