Burlington, Ontario — February 18, 2026 — Leads & Copy — Silver Bullet Mines Corp. is reporting on its autumn exploration program at its wholly owned Washington Mine in Idaho.
The company (TSXV: SBMI) (OTCQB: SBMCF) said the Washington Mine is on patented lands in the placer gold district in Idaho.
The autumn work at the Washington Mine is in addition to the mining and development being carried out at the KT Mine and the SC Mine, and the development of the recently acquired Columbia and Gold Queen Mines, all past producers in Arizona.
Work done at the Washington Mine by the SBMI geological team and mine contractor in the autumn of 2025 included rehabilitation of a historical adit, back face core holes testing the Subrosa silver-gold structure, and extraction of a near-surface bulk sample from the Washington Silver Vein. The bulk sample remains on site within a locked location along with the recent core pending assaying. Rehabilitating the historical adit provides SBMI with two routes to access the historical underground workings and what it believes to be mineralized material.
Thirteen surface samples were collected along a steep slope about 110 feet from the Washington Mine shaft in a 5.5 foot wide quartz vein parallel to the Washington Vein. An overall average of the 13 samples assayed 33.9 ounces Ag per ton with assay values ranging from trace to a high of 269 ounces Ag per ton. The company said these assay results are similar to those reported by a prior mine owner/operator who direct shipped truckloads of Washington Silver Vein material to a smelter in 1981, as previously reported by the Company. These grades are also similar to the results of the Company’s own bulk sample reported January 18, 2022.
Following panning efforts which returned gold from altered material at the back face of the Subrosa adit, a limited end-of-season NQ2 core underground drilling program was launched. Logging, evaluation and assaying of the core is in progress. Evidence to date supports gold mineralization being associated with the boundaries of an 11 foot wide, dark intrusive dike. Continuation of core drilling to test the westerly trend of the Subrosa vein structure is being planned.
In addition to planning core drilling to test the westerly trend of the Subrosa vein structure, planning is in progress for a spring 2026 core drilling of the Washington Vein to determine grade and to confirm the mineralized volume in preparation for mining. Following removal of a bulk sample and further refinement of economics, SBMI will work with a mineral processor to finalize the metallurgical process. Preliminary positive metallurgical test work was completed by Montana Technological University (see SBMI news release February 14, 2022). The Company intends to initially mine additional material for testing purposes. This phase of property development is scheduled to commence in spring, 2026. The start date will be based upon conditions including weather and contractor availability.
CEO John Carter said the Company is very optimistic about the results of the program as it further demonstrates the property has potential to contain high-grade precious metals. SBMI is planning the next phase of development of the mine and is keen to advance exploration on a number of known gold and silver occurrences that remain untested.
The Company also announced 776,667 warrants previously issued in connection with a private placement have been exercised at a strike price of $0.17 for proceeds of $132,033; 2,000,000 warrants previously issued in connection with a private placement have been exercised at a strike price of $0.16 for proceeds of $320,000; 625,000 warrants previously issued in connection with convertible debentures have been exercise at a strike price of $0.16 for proceeds of $100,000; and, 200,000 warrants previously issued in connection with convertible debentures have been exercised at a strike price of $0.18 for proceeds of $36,000.
The samples described in the release were analyzed by SBMI at its in-house facility near Globe, Arizona.
Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed, verified and approved SBMI’s work referred to and is the Qualified Person for this release as per the exchange requirements and NI 43-101 3.1.
Source: Silver Bullet Mines Corp.
