Arras Minerals Corp. News

ARRAS MINERALS FILES NI43-101 RESOURCE OF 1.75 MILLION OUNCES OF GOLD & 333.6 THOUSAND TONNES OF COPPER IN THE “INDICATED” CATEGORY, AND 1.49 MILLION OUNCES OF GOLD & 222.2 THOUSAND TONNES OF COPPER IN THE “INFERRED” CATEGORY ON THE BESKAUGA COPPER-GOLD PROJECT IN NORTH-EASTERN KAZAKHSTAN

June 20, 2022 TSX-V: ARK

Arras Minerals Corp. (TSX-V: ARK) (“Arras”, or the “Company”) is pleased to announce it has filed an updated Mineral Resource estimate report on the Beskauga copper-gold project onto the SEDAR website. Highlights of the updated Mineral Resource report include:

• An open pit constrained Indicated Mineral Resource of 111.2 million tonnes grading 0.49 g/t gold, 0.30% copper and 1.34 g/t silver for 1.75 million ounces of gold, 333.6 thousand tonnes of copper, & 4.79 million ounces of silver.

• An open pit constrained Inferred Mineral Resource of 92.6 million tonnes grading 0.50 g/t gold, 0.24% copper and 1.14 g/t silver for 1.49 million ounces of gold, 222.2 thousand tonnes of copper, & 3.39 million ounces of silver.

• The constraining pit was optimised and calculated using a Gross Metal Value (“GMV”) cut-off of $20/tonne based on a price of: $1,750/oz for gold, $3.50/lb for copper, $22/oz for silver, and with an average recovery of 85% for copper and 74.5% for gold and 50% for silver.

Tim Barry, CEO and Director of Arras states, “We are very pleased with this resource update which gives a good sense of the high-grade core of mineralization we currently see at Beskauga. It is important to note that the mineralization starts at the old paleo-surface of the bedrock and is covered by just over 40 meters of largely unconsolidated soils and gravels. The size and grade of the resource, combined with the low strip, and excellent near-by infrastructure, shows a strong viability for the project moving forward.

Work for 2022 will now focus on step-outs from the known deposit testing the largely unexplored immediate surrounding area.”

Beskauga Resource: The Beskauga resource was estimated from 118 historical diamond drill holes, totalling 45,605.8 meters drilled between 2007 and 2017 by the private Swiss company, Copperbelt AG. In addition to the historical holes included in this resource, four new drill holes totaling 3,694.2 meters drilled by Arras, in the known zone of mineralization have also been included in the resource calculation. All Holes were drilled from surface using an HQ or NQ sized core diameter and vary in depth between 150m to 1163.8m. The estimated Mineral Resource is shown in the table below.

Table 1 - Mineral Resource estimate for the Beskauga deposit with an effective date of 27 December 2021

Notes:

• A GMV $/t cut-off of $20/t was used, and the GMV formula is: GMV $/t = Au(grams)*74.5%*$56.26+ Cu(tonnes)*85%*$7.714 + Ag(grams)*50%*$0.71

• Base metal prices considered were $3.50/lb copper, $22.00/oz silver, and $1,750/oz gold.

• The Mineral Resource is stated within a pit shell using the base-case metal prices.

• Mineral Resources are estimated and reported in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves adopted 10 May 2014.

• Matthew Dumala (P.Eng.), is the independent Qualified Person with respect to the Mineral Resource estimate.

• The Mineral Resource is not believed to be materially affected by any known environmental, permitting, legal, title, taxation, socio-economic, marketing, political or other relevant factors.

• These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.

• The quantity and grade of reported Inferred Resources in this Mineral Resource estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured; however, it is reasonably expected that most of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

The reported Mineral Resource falls within an optimized Lerch-Grossman pit shell that uses the following parameters:

A Gross metal value (“GMV”) cut-off of $20/tonne was used to determine economic viability and was calculated using the following formula: “GMV $/t = Au(grams)*74.5%*$56.26+ Cu(tonnes)*85%*$7.714 + Ag(grams)*50%*$0.71”

Mineral resources were estimated by Ordinary Kriging (OK) and Inverse Distance Weighting (IDW) using Geovia GEMS software (version 6.7.2) modeling software in multiple passes using 20 meter X 20 meter X 20 meter blocks as the SMU size. Blocks have been classified as Indicated or Inferred Mineral Resources.

The mineral resource has been estimated by Matthew Dumala, P.Eng., of Archer, Cathro & Associates (1981) Limited, and David Underwood, a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No.400323/11). Both Mr. Dumala and Mr. Underwood are Qualified Persons as defined by National Instrument 43-101 and are responsible for the Technical Report filed onto the SEDAR website located at www.sedar.com.

Figure 1 - Surface projection of the Beskauga deposit showing the gold and the copper cut-offs. Also shown is the outline of the Lerch-Grossman conceptual pit.

Infrastructure: The Beskauga deposit has excellent infrastructure. All operations are based out of the nearby mining town of Ekibastuz, which services the largest coal mine in Kazakhstan and provides a highly trained workforce for Arras to draw upon. Paved road access, 1100 KVA power lines and heavy rail all lie within a 25 kilometer radius of the project. The capital city of Nur-Sultan, located approximately 300 kilometers along a double lane highway to the west of the project, has a major international airport allowing for easy access and administration of the Beskauga project.

Figure 2 - Map showing the location of infrastructure near the Beskauga deposit. The project is based out of the nearby mining town of Ekibastuz.

Changes in the resource: The NI43-101 resource update completed by Arras supersedes a NI43-101 resource filed by Silver Bull Resources in February 2021. With significant movement in the metal prices of gold, copper, and silver, since February 2021, the new resource calculation represents a recalibration of Beskauga in the current price environment.

Compared to the resource report of February 2021, a new grade shell was created to incorporate a better understanding of the geology of the Beskauga deposit. The new resource calculation also included an increase from US$2.80/lb to $US3.50/lb for copper, US$1,500/oz to $US1,750/oz for gold and US$17.25/oz to $US22 for silver. An increase in metal recovery of 81.7% to 85% for copper, 51.8% to 75% for gold and a decrease from 51.8% to 50% for silver was also included in the calculation. The February 2021 resource used an NSR cutoff calculation of $5.70/t with a pit shell factor of 1.25 above metal prices, whereas this resource update used a “Gross Metal Value” cutoff of $20/t.

These changes described above have resulted in a new resource on Beskauga deposit having lower tonnage, but significantly a higher grade for both gold and copper.

Table 3 - Comparison between the Beskauga resource filed by Silver Bull Resources in February 2021 and Arras’s resource update filed in February 2022

About the Beskauga Deposit: The Beskauga deposit is a gold-copper-silver deposit with a NI 43-101 compliant “Indicated” Mineral Resource of 111.2 million tonnes grading 0.49 g/t gold, 0.30% copper and 1.34 g/t silver for 1.75 million ounces of contained gold, 333.6 thousand tonnes of contained copper, and 4.79 million ounces of contained silver and an “Inferred” Mineral Resource of 92.6 million tonnes grading 0.50 g/t gold, 0.24% copper and 1.14 g/t silver for 1.49 million ounces of contained gold, 222.2 thousand tonnes of contained copper, and 3.39 million ounces of contained silver. This resource is based on 122 drill holes completed between 2007 and 2021. For further details regarding the Mineral Resource estimate at the Beskauga project, please see the technical report entitled “Beskauga Copper-Gold Project, Pavlodar Province, Republic of Kazakhstan, dated February 20, 2022 and filed on the Company’s website and on the Company’s SEDAR profile at www.sedar.com.

The constraining pit was optimised and calculated using a NSR cut-off based on a price of: $1,750/oz for gold, $3.50/lb for copper, $22.00/oz for silver, and with an average recovery of 85% for copper and 74.5% for gold and 50% for silver.

Assay and QAQC Procedures : All sample preparation and geochemical analysis of the diamond drill core referenced in the drill assay results described above was undertaken by ALS Global at its laboratories in Karaganda (Kazakhstan) and Loughrea (Republic of Ireland), respectively.

After drying and fine crushing, a 250 g split was pulverised to 85 % passing a -75-micron screen. A 30 g split of the pulp was analysed for gold using fire assay and Atomic Absorption Spectroscopy (AAS) finish (ALS method Au-AA25™) at ALS Karaganda. A second pulp split was then air freighted to ALS Loughrea and analysed for 48 elements by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) after 4-acid digestion on a 0.25 g aliquot (ALS method ME-MS61™). Where samples exceeded 1% copper, they were re-analysed using a 4-acid digest ICP-MS ore grade method (ALS method Cu-OG62™). ALS Global and its laboratories are entirely independent of Arras Minerals Corp.

Arras operates according to its rigorous Quality Assurance and Quality Control (QA/QC) protocol, which is consistent with industry best practices. This includes insertion of certified standards, blanks, and field duplicates comprising of quarter drill core at an insertion rate of 2.5%, 2.5% and 5% respectively, which is deemed appropriate for this stage of exploration. The blanks and standards are Certified Reference Materials (CRM’s) supplied by Ore Research and Exploration, Australia, who are entirely independent of Arras Minerals Corp. Internal QA/QC samples were also inserted by the analytical laboratories and reviewed by the Company prior to release. No material QA/QC issues have been identified with respect to sample collection, security and assaying.

Qualified Person

The technical disclosure presented in this news release has been reviewed and approved by Tim Barry, CEO and Director of Arras Minerals Corp., a Chartered Professional Geologist (MAusIMM CP Geo) with the Australasian Institute of Mining and Metallurgy and a “Qualified Person” for the purposes of National Instrument 43-101.

On behalf of the Board of Directors

"Tim Barry"

Tim Barry, CPAusIMM

Chief Executive Officer and Director

I NVESTOR RELATIONS:

+1 604 687 5800

info@arrasminerals.com

About Arras Minerals Corp.

Arras Minerals Corp. is British Columbia incorporated public company trading on the TSX-V exchange under the symbol “ARK.” The Company is advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Option Agreement on the Beskauga copper and gold project.

Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This press release uses the terms “measured resources”, “indicated resources”, and “inferred resources” which are defined in, and required to be disclosed by, NI 43-101. The Company advises U.S. investors that these terms are not recognized by the SEC. The estimation of measured, indicated and inferred 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 measured and 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 Arras’ 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, and the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding the use of net proceeds from the recent private placement, plans and expectations of the drill program Arras is in the process of undertaking, including the expansion of the Mineral Resource, and other aspects of the Mineral Resource estimates for the Beskauga project. These statements are based on current expectations, estimates, forecasts, and projections about Arras’ exploration projects, the industry in which Arras operates and the beliefs and assumptions of Arras’ 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 management’s control, including undertaking further exploration activities, the results of such exploration activities and that such results 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 the Non-Offering Prospectus filed on the Company’s profile on SEDAR on May 31, 2022 and in the Company’s Annual Report on Form 20-F for the fiscal year ended October 31, 2021 filed with the U.S. Securities and Exchange Commission filed on February 17, 2022 available on www.sec.gov. 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 the Company in this release is based only on information currently available and speaks only as of the date on which it is made. The Company undertakes 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.

June 13, 2022

Tue, 14 Jun 2022 04:25:29 GMT

Arras Minerals to begin trading on TSX Venture Exchange & provides corporate update

ARRAS MINERALS TO BEGIN TRADING ON TSX VENTURE EXCHANGE & PROVIDES CORPORATE UPDATE

Tue, 14 Jun 2022 02:32:38 GMT

June 13, 2022

Vancouver, British Columbia – Arras Minerals Corp. ( “Arras”; TSX-V:ARK, “the Company” ) is pleased to announce that the Company’s common shares have been approved for listing on the TSX Venture Exchange under the symbol “ARK.” Arras expects the shares to commence trading effective on the opening of the markets on Tuesday, June 14, 2022.

Darren Klinck, President, commented, “ We are excited about the bright future ahead for Arras and our sole focus on the highly prospective copper-gold belt in NE Kazakhstan where we have assembled more than 2,500 square kilometres of mineral exploration licenses. We would like to thank our supportive shareholders who have provided the foundation for our rapid advancement in the country over the past 15 months and look forward to building on this as we seek to add shareholder value and increase the profile of Arras’ mineral exploration and development initiatives in Kazakhstan as a publicly listed company.”

Corporate Update

Private Placement Financing

On May 30, 2022, the Company completed a private placement financing issuing 1,091,000 shares at C$1.50 per share for gross proceeds of C$1,636,500. Net proceeds from the financing will be used to fund exploration activities at the Company’s projects in NE Kazakhstan and for general corporate purposes.

All securities issued pursuant to the private placement are subject to a hold period under applicable Canadian securities laws, which will expire four months plus one day from the date of closing of the Private Placement and will be restricted securities for purposes of U.S. securities laws.

Kazakhstan Exploration Activities Summary

In 2021, Arras established a local technical team based in Ekibastuz, Pavlodar as well as a small administrative office in Almaty.

Exploration and development activities during 2021 comprised of a full review of the historical work completed on Beskauga as well as commencement of diamond drilling utilizing two rigs for H2 2021. An airborne geophysics (magnetics) program was initiated and completed at Beskauga in H2 2021. The geophysics program on the regional licenses has continued in H1 2022.

Initial drill assay results from Hole BG21001 and BG 21002 were announced in January and February 2022 respectively. Highlights from Hole BG21001 starting from 44m were 972.3m @ 0.56 g/t Au & 0.33% Cu & 1.89g/t Ag (see Arras’ Website for News Release dated January 31, 2022). Hole BG21002 starting from 43m reported 995m@ 0.33 g/t Au & 0.13% Cu & 1.32 g/t Ag and included 431m @ 0.53 g/t Au & 0.23% Cu & 1.32 g/t Ag starting from 595 m (see Arras’ Website for News Release dated February 23, 2022).

The Company has established mineral exploration licenses totalling 2,500 square kilometres in the Pavlodar region which are highly prospective for copper-gold mineralisation. The Arras technical team focused over Q4 2021 and Q12022 on evaluating and analysing historical data available for these license areas and a field program has commenced in Q2 2022.

Drilling activities on the Beskauga license have continued in H1 2022 focusing on expanding the current Beskauga resource (summarized below) and testing adjacent targets, many of which have not been tested previously.

Tim Barry, CEO commented, “ Arras accomplished a great deal in 2021 as we established the Company in Kazakhstan and built-up a solid local team of professionals; successfully permitted a 30,000 metre drill program; permitted and commenced an airborne geophysics program; and started drilling at Beskauga. This year we are continuing to build on our strong start in 2021 and in addition to working at Beskauga are expanding our focus across the broader Arras mineral tenement package. Thus far, the business environment and the geological prospectivity in Kazakhstan continues to be very positive and exciting and we look forward to continuing to expand our knowledge in what we believe to be one of the few remaining, underexplored copper-gold belts globally.”

About the Beskauga Deposit: The Beskauga deposit is a gold-copper-silver deposit with a NI 43-101 compliant “Indicated” Mineral Resource of 111.2 million tonnes grading 0.49 g/t gold, 0.30% copper and 1.34 g/t silver for 1.75 million ounces of contained gold, 333.6 thousand tonnes of contained copper, and 4.79 million ounces of contained silver and an “Inferred” Mineral Resource of 92.6 million tonnes grading 0.50 g/t gold, 0.24% copper and 1.14 g/t silver for 1.49 million ounces of contained gold, 222.2 thousand tonnes of contained copper, and 3.39 million ounces of contained silver. This resource is based on 122 drill holes completed between 2007 and 2021. For further details regarding the Mineral Resource estimate at the Beskauga project, please see the technical report entitled “Beskauga Copper-Gold Project, Pavlodar Province, Republic of Kazakhstan, dated February 20,2022 and filed on the Company’s website and on the Company’s SEDAR profile at www.sedar.com.

Assay and QAQC Procedures: All sample preparation and geochemical analysis of the diamond drill core referenced in the drill assay results described above was undertaken by ALS Global at its laboratories in Karaganda (Kazakhstan) and Loughrea (Republic of Ireland), respectively.

Qualified Person

On behalf of the Board of Directors

"Tim Barry"

Tim Barry, CPAusIMM

Chief Executive Officer and Director

INVESTOR RELATIONS:

+1 604 687 5800

info@arrasminerals.com

About Arras Minerals Corp.

March 3, 2022

Fri, 04 Mar 2022 05:22:30 GMT

Arras Minerals Announces Appointment of Vera Kobalia to the Board of Directors

February 23, 2022

Thu, 24 Feb 2022 04:46:47 GMT

Arras Minerals Intercepts 431 Meters Grading 0.68% CuEq and Extends High Grade Mineralization to Over 900 Meters in Depth on the Beskauga Project in Northeastern Kazakhstan

January 31, 2022

Tue, 01 Feb 2022 04:25:33 GMT

Arras Minerals Intercepts 973.2m @ 0.82% CuEq, Including 531M @ 1.14% CuEq Starting from 44M Below Surface on the Beskauga Project in Northeastern Kazakhstan

January 17, 2022

Tue, 18 Jan 2022 03:57:45 GMT

Arras Minerals Provides Corporate Update on the Recent Unrest in Kazakhstan

December 20, 2021

Tue, 21 Dec 2021 03:55:10 GMT

Arras announces private placement for gross proceeds of C$10m

November 29, 2021

Tue, 30 Nov 2021 03:51:44 GMT

Arras Minerals Reports 633m @ 1.02% CuEq, Including 187m @ 2.34% CuEq from Reassays of Historical Drillholes on the Beskauga Project in Northeastern Kazakhstan

October 7, 2021

Fri, 08 Oct 2021 02:49:26 GMT

Arras Minerals Reports 633m @ 1.02% CuEq, Including 187m @ 2.34% CuEq from Reassays of Historical Drillholes on the Beskauga Project in Northeastern Kazakhstan

October 5, 2021

Wed, 06 Oct 2021 02:31:13 GMT

Arras Minerals Reports 752m @ 0.73% CuEq Including 93m @ 1.73% CuEq Starting at 46.9m From Reassays of Historical Drillholes on the Beskauga Project in Northeastern Kazakhstan

October 1, 2021

Sat, 02 Oct 2021 02:15:59 GMT

Arras Announces the Start of 30,000 Meter Drill Program on the Beskauga Deposit, Northeastern Kazakhstan

Vancouver, British Columbia -- Silver Bull Resources, Inc. (TSX: SVB, NYSE MKT: SVBL) ("Silver Bull") is pleased to announce the drill results for the first batch of drill holes from the underground d

website@sitemodify.com (Website Editor) — Fri, 11 Jan 2013 02:18:15 GMT

Vancouver, British Columbia -- Silver Bull Resources, Inc. (TSX: SVB, NYSE MKT: SVBL) ("Silver Bull") is pleased to provide 2012 year-end review and road map for the 2013 calendar year ahead. The Silver Bull management team is focused on advancing the company's flagship Sierra Mojada silver-zinc project, located in the historic Sierra Mojada mining district in Coahuila State, northern Mexico.

2012 saw significant volatility and uncertainty of the global markets which overshadowed the strong progress the Silver Bull team made at Sierra Mojada.

2012 Technical Achievements

Completed 19,400 meters of surface drilling -- aimed at defining and extending the Centenario and Shallow Silver Zone. Mineralization remains open to the north, south, east and westerly directions of the deposit.
Discovered a massive sulphide zone grading 16.98% zinc, 5.45% lead and 57.29g/t silver over 8.45 meters in a previously undrilled area 500 meters to the north of the Shallow Silver Zone. Management believes this sulphide discovery presents an exciting exploration target of potential deep rooted "feeder structures" that likely emplaced much of the secondary oxide mineralization seen at the Shallow Silver Zone.
Released a third NI43-101 resource update on the project in July 2012, increasing the size of the silver resource to 72.1Moz silver in the "measure and indicated" category, and 10.4Moz in the "inferred" category. This represented a 39% increase in the resource size over a period of 6 months of drilling.
Increased the understanding of the genesis of the mineralization seen at Sierra Mojada allowing us to better model the deposit and identify areas with high prospectivity for exploration.
Completed a 6,500 meter underground twinning drill program, using company owned drill rigs, aimed at confirming a historical drilling data set of over 2,700 long holes (a type of rock chip drill used by previous management teams) amounting to 39,000 meters of drilling that defined a high grade silver and high grade zinc zone. The 2,700 long hole data set had been severely restricted or discarded from the July 2012 NI43-101 resource report. Assay results to date have confirmed a variability of less than 4% overall between the new core drill holes and historic long hole data. Management is confident the twinning program will have a significant impact on the upcoming NI43-101 resource calculation for both the silver and zinc ore bodies and due for completion in Q1 2013.
Conducted an ongoing full-scale metallurgical program focused on processing the silver and zinc rich ore at Sierra Mojada. Preliminary metallurgical results included Bottle Roll tests simulating an agitated leach circuit recovered up to 89% silver with average recovery of 83% using samples from the Centenario Zone (represents approx. 1/3 of the silver mineralization seen at Sierra Mojada). Pyrometallurgical test work on the zinc oxide mineralization achieved up to 98.9% removal of zinc from a waelz kiln via fuming at a 1,300 degree roasting temperature -- producing an almost pure zinc oxide concentrate (approx. 80% zinc concentrate).

2012 Corporate Achievements:

Management successfully collected $3.4M USD of historical value added tax balances from the Mexican government dating back to 2007, which helped fund exploration activities through the challenging capital markets environment of 2012.
Completed negotiations with various mineral claim owners, tying together the remaining mineral titles in the area to allow for future development of the mineralization at Sierra Mojada.
Strengthened ties with the local communities by providing access to water for farmers' livestock throughout drought conditions, holding regular community events, and contributing to a local mining museum. We also remain the largest employer of local people in the area.

The Road Forward in 2013

Silver Bull is quickly moving towards a number of key project milestones in 2013.

Q1 2013: NI43-101 Resource Update
Q3 2013: Maiden Preliminary Economic Assessment

In Q1 2013 Silver Bull will release its 4th NI43-101 resource update on the project, which will include drill results from the 2012 underground twinning program. The objective of the program was to twin approximately 15% of the historic 2,700 long hole data set that equated to 39,000 meters in order to increase the confidence of this data. Management deemed this to be a very important program as the data defines a high grade silver and a high grade zinc zone, each with a strike of over 1.5km, expected to add considerable ounces and an increase in grade to the resource.

The final hole from the twinning program was completed in mid December 2012 and the company is awaiting assay results from the laboratories at ALS Chemex in North Vancouver, BC, Canada. To date, the company has released 9 of 10 sets of holes from the high grade silver zone and 1 of approximately 5 sets of holes from the high grade zinc zone.

Based on the updated resource report figures, management will proceed to complete the maiden Preliminary Economic Assessment on the Sierra Mojada project in Q3 2013. The maiden PEA will incorporate ongoing work on metallurgical optimization, hydrology, and geotechnical studies; in addition to detailed mine plan studies. After completion of the preliminary economic assessment, the remainder of 2013 will be dedicated to mine feasibility study programs in contemplation of an initial feasibility study on the project in 2014.

Exploration Upside

Sierra Mojada remains a project with significant upside potential. The Shallow Silver Zone and Zinc Zone are considered to be a small component of a much a larger Carbonate Replacement Deposit (CRD) type system, typical of northern Mexico. Our geologic team has highlighted a number of high quality exploration targets that will be pursued in 2013 in the context of the financial markets.

Palamos Negros: A historic mining zone 9 kilometers to the west of the Shallow Silver Zone and also hosted on the Sierra Mojada fault. Positive geochemical results paired with extensive historic mine workings (similar to those seen at the Shallow Silver Zone) make this an exciting prospect that has never been drilled.

Massive Sulphide Zone: Further exploration is warranted to better define the massive sulphide discovery made in 2012. Follow up work will include borehole geophysics to generate parameters for follow up drilling.

Shallow Silver Zone Infill & Extensional Drilling: The main zone of mineralization remains open in all directions and warrants additional step out drilling to define the boundaries of mineralization. High grade silver mineralization (100+g/t Ag) hosted in east-west trending structures within the Shallow Silver Zone has been demonstrated to extend via extensive channel sampling from underground. Reconditioning of underground workings will enable drilling of these extensions with the company owned Termite drill rigs that have been used in the 2012 twinning program.

Outlook for 2013

We at Silver Bull remain extremely bullish on the fundamentals for both silver and zinc. The world's financial troubles are not likely to go away anytime soon and silver (along with gold) will continue to be a haven for wealth preservation. Furthermore, with the imminent closing of a number of major zinc mines expected in the next 3 years, coupled with both a lack of new zinc mines coming on line to replace this lost production and an expected increase in zinc demand we see a tightening in the zinc supply over the short to medium term.

At Sierra Mojada we are fortunate to have exposure to both the precious and base metal space. In addition to the growing silver resource, Silver Bull controls a very significant zinc resource sitting less that 500 meters from a functioning railway -- there are not many of these in the world.

It is also not insignificant that many countries around the world are becoming less and less viable for mining and exploration activities due to increasing political risk. Mexico however is not one of these countries and remains one of the top mining jurisdiction in the world.

I would like to take this opportunity to thank you for your ongoing support of Silver Bull Resources and we look forward to the continued development of the Sierra Mojada during 2013. We invite you to stay informed about Silver Bull by contacting us by email at info@silverbullresources.com or by calling 1-604-687-5800.

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

I NVESTOR RELATIONS:
Matt Hallaran
+1 604 336 8096

info@silverbullresources.com

Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated and Inferred Resources: This press release uses the terms "measured resources", "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 measured and 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 measured and 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 measured, indicated and inferred resource estimates, the timing of the next resource update, the ability to demonstrate a high correlation and increase the confidence of the long hole data set, the ability to incorporate the long hole data set in the next resource update and the ability to delineate a zinc resource in the zinc exploration target, the exploration of potential deep rooted "feeder structures" as a result of the sulphide discovery, timing of the preliminary economic assessment, the ability to increase ounces and grade of the resource, timing and potential completion of the feasibility study, potential of the Shallow Silver Zone to be a small component of a much larger CRD system, the exploration potential of Palamos Negros, the expectation of an increase in demand and tightening zinc supply in short to medium term, Mexico's continued favorable political risk environment and ability to remain a top mining jurisdiction. 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 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.