Location

Vancouver, British Columbia — Silver Bull Resources, Inc. (TSX: SVB, NYSE MKT: SVBL) (“Silver Bull”) is pleased to announce the results of underground channel samples targeting the north, east, and western extensions to the Shallow Silver Zone on the Sierra Mojada Project in Coahuila, Northern Mexico.

Channel sample highlights include:


  • NORTH EXTENSION: 1620g/t Ag over 1 meter, 1530g/t Ag over 0.6 meters, 1520g/t Ag over 1 meter, 1055g/t Ag over 1.27 meters, 781 g/t Ag over 2 meters.
  • EAST EXTENSION: 1035g/t Ag & 28.3% Zn over 1 meter, 527g/t Ag & 17.4% Pb over 1 meter, 801g/t Ag & 19.6% Pb over 1.3 meters, 433g/t Ag & 18.95% Pb over 1 meter.
  • WEST EXTENSION: 566g/t Ag & 10.15% Zn over 1.5 meters, 391g/t Ag & 1.16% Cu over 1.5 meters, 327g/t Ag & 2.59% Zn over 1.5 meters, 307g/t Ag & 1% Cu over 1.5 meters.
  • All channel samples were taken along the walls of historical underground workings and lie outside the present silver resource of 162.9 million ounces of indicated silver (25g/t cutoff) and show the continued extension of the high grade mineralization in the north, east and westerly directions.
The channel samples mentioned in this news release target the extension of the high grade mineralization previously defined within the Shallow Silver Zone. Continuous 1 to 2 meter long chip samples were taken along the walls of historical underground workings at the north, east and western extents of the Shallow Silver Zone. The purpose of the program was to extend the high grade mineralization of the Shallow Silver Zone, better understand the geology and controls on the mineralization, and confirm the overall grades of the silver and zinc historically mined.

Approximately 440 meters of underground workings were sampled along the eastern extension, 330 meters along the northern extension, and 160 meters along the western extension. Of the 527 channel samples taken, 82 samples recorded values over 100g/t silver with a peak value of 1620g/t silver, 142 samples recorded values over 3% zinc with a peak value of 45% zinc, and 53 samples recorded values over 25% lead with a peak value of 19.75% lead.

Tim Barry, President and CEO of Silver states, “It is important to realize that all of these channel samples fall outside the present 162.9 million ounce silver resource and clearly show that there is significant upside still left to be developed at Sierra Mojada. In the current market conditions the focus of the company right now is to finish up our metallurgical program and put out a Preliminary Economic Assessment on the significant silver and zinc resource we have defined at Sierra Mojada to date. We expect to have this report to the market out towards the end of September.”

A location map of the areas sampled is shown below.



Figure 1. The locations of the channel samples in relation to the Shallow Silver Zone (blue). Approximately 440m of underground workings of Eastern extension, 330m of the Northern extension and 160 meters of the Western extension were sampled.

A selection of results are shown below




































































































































































































































































































































































































































































































































































































































































































































































































































Area

Sample Type

Channel ID

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

North Extension

Channel

CH1608

1620

0.12

0

0.03

North Extension

Channel

CH1512

1530

0.3

0

0.04

North Extension

Channel

CH1405

1520

0.13

0

0.03

North Extension

Channel

CH2003

1055

0.06

0

0.01

North Extension

Channel

CH1310

781

0.14

0

0.03

North Extension

Channel

CH1709

664

1.5

0

0.03

North Extension

Channel

CH1710

641

0.3

0

0.03

North Extension

Channel

CH1309

638

0.1

0

0.03

North Extension

Channel

CH1503

633

0.16

0

0.03

North Extension

Channel

CH1405

597

0.16

0.06

0.03

North Extension

Channel

CH2403

503

0.16

0.01

0.05

North Extension

Channel

CH1705

482

0.09

0

0.02

North Extension

Channel

CH1512

450

0.42

0.02

0.05

North Extension

Channel

CH2506

434

0.1

0

0

North Extension

Channel

CH1414

283

0.15

0

0.04

North Extension

Channel

CH2908

281

1.12

0

0.02

North Extension

Channel

CH1610

252

0.09

0.08

0.04

North Extension

Channel

CH2909

244

0.55

0

0.01

North Extension

Channel

CH1308

229

0.23

0.01

0.06

North Extension

Channel

CH2905

217

0.88

0

0.01

North Extension

Channel

CH1411

207

0.07

0

0.04

North Extension

Channel

CH1704

203

0.36

0

0.07

North Extension

Channel

CH2801

198

0.09

0

0.01

North Extension

Channel

CH1603

191

0.06

0

0.27

North Extension

Channel

CH2907

188

0.18

0

0.02

North Extension

Channel

CH1704

184

0.02

0

0

North Extension

Channel

CH2505

176

0

0

0

North Extension

Channel

CH2504

166

0.2

0

0

North Extension

Channel

CH2802

163

0.13

0

0.01

North Extension

Channel

CH2401

160

0.12

0

0

North Extension

Channel

CH1706

153

0.35

0

0.05

North Extension

Channel

CH1505

151

0.5

0

0.02

North Extension

Channel

CH1407

150

0.15

0

0.04

North Extension

Channel

CH2402

150

0.04

0

0

North Extension

Channel

CH1606

150

0.17

0

0.04

North Extension

Channel

CH1609

144

0.25

0

0.03

North Extension

Channel

CH1707

134

0.73

0

0.06

North Extension

Channel

CH2503

130

0.08

0.01

0.01

North Extension

Channel

CH3010

130

0.12

0

0.03

North Extension

Channel

CH1503

100

0.16

0

0.02

West Extension

Channel

CH25693

566

2.25

1.73

10.15

West Extension

Channel

CH40687

391

1.16

0.11

0.69

West Extension

Channel

CH25695

327

0.74

0.50

2.59

West Extension

Channel

CH25703

307

1.02

0.08

0.94

West Extension

Channel

CH40686

287

2.63

0.90

8.29

West Extension

Channel

CH25725

216

0.21

1.56

0.51

West Extension

Channel

CH40689

171

0.29

0.47

0.44

West Extension

Channel

CH25672

170

0.00

1.30

8.34

West Extension

Channel

CH40685

166

1.53

5.02

6.13

West Extension

Channel

CH25722

156

0.85

1.89

1.94

West Extension

Channel

CH25714

150

0.76

0.25

0.65

West Extension

Channel

CH40679

147

0.30

0.06

0.78

West Extension

Channel

CH25713

128

1.92

0.12

3.46

West Extension

Channel

CH25674

114

0.01

0.75

6.96

West Extension

Channel

CH25726

110

0.41

0.78

2.04

West Extension

Channel

CH25710

109

0.37

2.08

17.90

West Extension

Channel

CH25704

86

0.32

0.06

0.69

West Extension

Channel

CH40683

76

0.50

0.54

3.37

West Extension

Channel

CH25686

76

0.74

0.05

1.66

West Extension

Channel

CH25709

72

0.14

0.12

0.43

West Extension

Channel

CH25712

66

0.04

2.46

9.75

West Extension

Channel

CH25685

65

1.53

0.29

1.97

West Extension

Channel

CH40680

62

0.34

0.14

3.20

West Extension

Channel

CH25699

62

0.04

0.39

1.62

West Extension

Channel

CH25680

59

1.28

0.17

0.92

West Extension

Channel

CH25669

45

0.04

1.25

23.50

West Extension

Channel

CH25716

37

0.04

2.16

7.08

West Extension

Channel

CH25718

34

0.34

0.04

0.94

West Extension

Channel

CH40682

32

0.03

0.16

0.67

West Extension

Channel

CH25697

31

0.03

0.26

1.90

East Extension

Channel

CH2503

1035

0.00

4.29

28.30

East Extension

Channel

CH1328

801

0.00

19.60

32.10

East Extension

Channel

CH1136

527

0.00

17.40

16.45

East Extension

Channel

CH1375

433

0.00

18.95

0.84

East Extension

Channel

CH1905

336

0.00

2.17

1.12

East Extension

Channel

CH3002

318

0.00

1.81

21.00

East Extension

Channel

CH1309

314

0.00

3.10

19.40

East Extension

Channel

CH1323

278

0.00

19.75

1.58

East Extension

Channel

CH2508

228

0.00

1.68

11.55

East Extension

Channel

CH1140

225

0.00

10.70

21.30

East Extension

Channel

CH2704

206

0.00

3.64

15.85

East Extension

Channel

CH1903

204

0.00

2.72

1.56

East Extension

Channel

CH1137

196

0.00

3.03

9.33

East Extension

Channel

CH1914

177

0.00

2.56

13.05

East Extension

Channel

CH1507

176

0.00

5.27

11.30

East Extension

Channel

CH1803

166

0.00

6.50

36.52

East Extension

Channel

CH1804

150

0.00

4.95

45.30

East Extension

Channel

CH1506

142

0.00

5.02

17.40

East Extension

Channel

CH1901

129

0.00

3.45

6.64

East Extension

Channel

CH1909

120

0.00

0.45

4.05

East Extension

Channel

CH1314

87

0.00

1.14

1.76

East Extension

Channel

CH1904

84

0.00

0.84

1.12

East Extension

Channel

CH1142

83

0.00

2.19

19.40

East Extension

Channel

CH1802

76

0.00

6.91

29.71

East Extension

Channel

CH1808

73

0.00

5.45

22.20

East Extension

Channel

CH1910

69

0.00

4.16

2.76

East Extension

Channel

CH1267

62

0.00

0.32

0.54

East Extension

Channel

CH1310

59

0.00

1.71

13.40

East Extension

Channel

CH2509

56

0.00

2.15

14.50


About the Shallow Silver Zone: The “Shallow Silver Zone” is an oxide silver deposit (+/- zinc, lead & copper), hosted along an east-west trending fracture-karst system set in a cretaceous limestone-dolomite sequence. At a 25g/t cutoff grade the Shallow Silver Zone has an indicated resource of 72.9 million tonnes at an average grade of 69.5 g/t for 162.9 million contained troy ounces of silver. The mineralized body averages between 30m — 90m thick, up to 200m wide and remains open in all directions. Approximately 60% of the current 3.8 kilometer strike length is at or near surface before dipping at around 6 degrees to the east.

Sample Analysis and QA/QC: All samples have been analyzed at ALS Chemex in North Vancouver, BC, 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 100ppm are re-analyzed using the Ag-GRA21 procedure which is a fire assay with a gravimetric finish. Samples with zinc, lead, and copper values above 10,000ppm (1%) are re-analyzed 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 all sample shipments to ensure integrity of the assay process.

About Silver Bull: Silver Bull is a US registered mineral exploration company listed on both the NYSE MKT and TSX stock exchanges and based out of Vancouver, Canada. The flag ship “Sierra Mojada” project is located 150 kilometers north of the city of Torreon in Coahuila, Mexico, and is highly prospective for silver and zinc. Silver Bull also has 2 mineral licenses in Gabon, Central Africa, which are prospective for gold, manganese, and iron ore.

The technical information of this news release has been reviewed and approved by Tim Barry, MAusIMM, a qualified person for the purposes of National Instrument 43-101.

On behalf of the Board of Directors

“Tim Barry”

Tim Barry, MAusIMM
Chief Executive Officer, President and Director

INVESTOR RELATIONS:
Matt Hallaran
+1 604 336 8096

[email protected]

Cautionary Note to U.S. Investors concerning estimates of Indicated and Inferred Resources: This press release uses the terms “indicated resources” and “inferred resources” which are defined in, and required to be disclosed by, NI 43-101. We advise U.S. investors that these terms are not recognized by the United States Securities and Exchange Commission (the “SEC”). The estimation of indicated resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that indicated mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies.

Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject NI 43-101.

Cautionary note regarding forward looking statements: This news release contains forward-looking statements regarding future events and Silver Bull’s future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding indicated and inferred resource estimates and the timing of the preparation and completion of the metallurgical program and a Preliminary Economic Analysis. These statements are based on current expectations, estimates, forecasts, and projections about Silver Bull’s exploration projects, the industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull’s management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including such factors as the results of exploration activities and whether the results continue to support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended October 31, 2012, as amended, and our other periodic and current reports filed with the SEC and available on www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

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Layne, A Granite Company, provides sustainable solutions for water resources and mineral exploration. Originally established in 1882, Layne offers a rich history of delivering safe, professional, and reliable water and minerals solutions throughout North and South America. Granite acquired Layne and its subsidiaries in the fall of 2018, to further Granite’s strategy to grow through acquisition and diverse end market expansion.