News & Events zu Silver Bow Mining Corp (SBMT)SBMTSilver Bow Mining Corp

Silver Bow Mining Announces Drill Results from Rainbow Block Project

Silver Bow Mining announced assay results from drill holes SBM26-03 and SBM26-04 from its ongoing 25,000-foot diamond drilling program at the Rainbow Block Project in Butte, Montana. Highlights: SBM26-03 - Badger Vein: 4.0 m grading 994.2 g/t silver equivalent including 2.3 m grading 1,586.1 g/t AgEq. SBM26-04 - Jessie Vein: 2.0 m grading 693.1 g/t AgEq. SBM26-04 - State Vein: 1.6 m grading 502.0 g/t AgEq. Three surface drill rigs are operating at the Rainbow Block with approximately 13,500 feet of the previously announced 25,000-foot Phase I diamond drill program now complete. The results from SBM26-03 and SBM26-04 follow the Company's June 22 drill results and provide additional evidence of high-grade polymetallic mineralization within the Badger Vein. The Badger Vein intercept from SBM26-03 is located approximately 125 meters beyond the boundary of the current Inferred Mineral Resource estimate and approximately 125 meters from the Badger Vein intercept in SBM26-01, which returned 3.7 meters grading 651.0 g/t AgEq. "The 4-meter intercept in SBM26-03 grading 994.2 g/t AgEq, including a 2.3-meter core at 1,586.1 g/t AgEq, is the strongest interval we have drilled to date at the Rainbow Block," said Phillip Nickerson, PhD, CPG, Vice President of Exploration. "Beyond the grades themselves, what stands out is that this intercept sits approximately 125 meters, or 400 feet, west of the high-grade intersection in our first hole of the season, SBM26-01, which returned 651.0 g/t AgEq over 3.7 meters. These results provide further evidence of potential high-grade mineralization not only along the Badger Vein, but also across several sub-parallel vein systems, and support our continued work to expand the current resource estimate. We believe we are still in the early stages of characterizing the scale and extent of the mineralized system at the Rainbow Block."

Silver Bow Mining Acquires Montana Goldfields Assets

Silver Bow Mining entered into a definitive asset purchase agreement with Montana Goldfields, or MTGF, and Montana Tunnels Mining, to acquire an integrated metallurgical complex containing two distinct mineral processing circuits, together with the historic Montana Tunnels M-Pit located in Jefferson County, Montana. The Jefferson County Metallurgical Complex, MontanaThe Jefferson County Metallurgical Complex is located approximately 55 miles by road northeast of Butte and includes 15,000-tpd and 1,000-tpd mineral processing circuits, crushing and ore storage facilities, tailings facilities, and associated infrastructure within an approximate 5,000-acre land position. Silver Bow Mining is actively exploring its Butte Project assets including the Rainbow Block Project, which hosts an Inferred Mineral Resource estimate of 11.48 million tons grading 14.8 ounces per short ton silver equivalent, or AgEq, containing 170 million AgEq ounces (49.26 million ounces silver, 0.55 million ounces gold, 1.05 billion pounds of zinc, and 287 million pounds of lead). See the Company's news release dated June 30, 2025 for further details. The Jefferson County Metallurgical Complex is being acquired through a Chapter 11 sale process involving Montana Tunnels Mining, Inc., which filed for bankruptcy protection on July 27. The Company has sufficient cash resources to satisfy its closing obligations and continue its current planned operations while it is evaluating a range of financing alternatives, with a preference for structures that minimize dilution to existing shareholders, in order to preserve financial flexibility as it advances its broader exploration and, if warranted, development plans. Under the terms of the Agreement, Silver Bow Mining will acquire 100% ownership of the Complex at Final Closing, free and clear of liens. The Agreement provides a staged transaction structure, including an Initial Closing and a subsequent Final Closing following satisfaction or waiver of the applicable closing conditions. The Company will fund approximately $28.6M to satisfy specified creditors associated with the acquired assets, including approximately $4.27M to satisfy amounts owing to Jefferson County and approximately $20.8M to satisfy specified obligations owing to the Montana Department of Environmental Quality. In consideration for the funding, at the Initial Closing Montana Tunnels Mining, will issue to the Company a senior secured note secured against the real property interests, fixtures and tangible personal property at the Jefferson County Metallurgical Complex. Following receipt of necessary approvals, at Final Closing, Silver Bow Mining will issue 3,500,000 contingent value rights; each Final Closing CVR convert into one common share of Silver Bow Mining 180 days following Final Closing, subject to certain terms and limitations as set forth in the Final Closing CVR terms. The Agreement also provides for the issuance to MTGF of 11,500,000 additional deferred compensation CVRs, representing potential future consideration contingent on future contingent milestones, including potential M-Pit exploration, development and commercial production. Following Final Closing, the Company has agreed to undertake specified technical work programs associated with the acquired Complex. These include a $5M work program directed toward completion of a Feasibility Study on the M-Pit Expansion, and a $3M program to advance detailed engineering and regulatory work associated with the Clancy Creek Bypass Channel.

Silver Bow Mining Re-establishes Underground Access at Rainbow Block Project

Silver Bow Mining announces that it has re-established underground access at its high-grade Rainbow Block Silver-Zinc Project through completion of the rehabilitation of the historic Chief Joseph Portal. "The achievement marks a significant operational milestone for the Company and represents the first underground exploration undertaken in the Butte Mining District, Montana, in approximately 35 years," the company said.