Silver Bullet Mines Corp. (TSX-V:SBMI, OTC:SBMCF), the mineral exploration and development company, has shifted its near-term processing focus to the Columbia and Gold Queen Complex in Arizona to satisfy a major commercial delivery contract.
The operational change follows field evaluations demonstrating that the complex can reliably produce the tonnage required to fulfill an agreement with Ocean Partners USA Inc., the commodities trading firm, for up to 36,000 tons of material per year.
Management prioritized the complex over the King Tut Mine because other company properties cannot currently deliver the necessary production volume despite carrying high mineral grades.
The company has hauled its first shipments of direct ship ore (DSO), which is high-grade mineralized material ready for immediate processing, along a newly built access road to its mill in Globe, Arizona.
Approximately 80 tons of mineralized material are now on the ground at the Globe facility, where processing into mineral concentrate has begun to optimize plant recovery rates.
Workers constructed the new road connecting the past-producing Columbia Mine to a regional highway following minor weather delays and government permitting approvals.
Crews are extending the roadway toward the past-producing Gold Queen Mine while opening an adit, which serves as a horizontal underground mine entrance, into the deposit.
During road construction, workers intercepted four additional mineralized zones, with preliminary internal assays showing elevated levels of gold, silver, copper, and iron that require further analysis before full results can be released.
Company geologists believe a limestone cap covers the property and has trapped ascending mineral veins beneath it, creating the potential for multiple high-grade gold zones across the asset.
The broader complex also includes the historical Steamboat Mine, where workers uncovered 100-year-old workings and rail infrastructure that historically transported direct-shipped ore by mule train.
To fund further development and general working capital, the company arranged a $670,000 convertible debenture, which is a debt security that can convert into common shares at $0.12 per share.
The three-year debt financing carries an annual interest rate of 12% and includes 6.7 million warrants, which grant holders the right to purchase additional shares at $0.16 each.
Separately, the company issued 114,815 common shares at $0.125 on July 24, 2026, to settle terms under an approved consulting agreement established in December 2023.