News


August 15, 2013

Silver Bull's Underground Sampling Extends The High Grade Mineralization On The Shallow Silver Zone With Results Up To 1620g/t Silver, 19.75% Lead, And 45% Zinc On The Sierra Mojada Project, Coahuila, Mexico

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

info@silverbullresources.com

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.