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

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 15, 2013) - Silver Bull Resources, Inc. (SVB.TO)(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 Bull 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."

To view a location map (Figure 1) of the areas sampled, click the following link: http://media3.marketwire.com/docs/814svb.jpg.

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, MAusIMM

Chief Executive Officer, President and Director

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.