202616 releases
Silver Bow Mining Signs Term Sheet with Ocean Partners for Potential US$88 Million Funding and Credit Support Package and Ten-Year Zinc and Lead Concentrate Offtake Agreements
A non-binding term sheet with Ocean Partners UK Limited covers an integrated package totalling approximately US$88 million: a US$40 million concentrate prepayment facility in three tranches (US$10 million, US$20 million, US$10 million) priced at 12-month SOFR plus 6.75%, about US$43.1 million of reclamation bond guarantees, and a US$5 million lead equity commitment. A binding US$5 million pre-closing bridge is to be funded within five business days.
FinancingSilver Bow Mining Intersects Massive Sulfide Mineralization Grading 8.20% CuEq over 0.82 Meters at the Rainbow Block
Drill hole SBM26-09 at the Rainbow Block Project in Butte, Montana intersected 0.82 meters (2.7 feet) of copper-bearing massive sulfide on the Black Rock Copper Vein from 662.15 to 662.97 meters downhole, grading 8.20% CuEq (6.22% Cu, 207.1 g/t Ag, 0.27% Zn). True width is estimated at 50% to 60% of downhole length. The intercept lies about 30 meters below a historical Anaconda unmined copper-silver block. Assays for the Rainbow, Boston and Jersey Blue veins are pending, and follow-up hole SBM26-10 has been started from surface.
Drill resultsSilver Bow Mining Receives Bankruptcy Court Approval and Completes Initial Closing for Acquisition of Jefferson County Metallurgical Complex
The U.S. Bankruptcy Court for the District of Montana approved the Section 363 sale of Montana Tunnels Mining, Inc.'s Jefferson County Metallurgical Complex to Silver Bow Mining and subsidiary Silver Bow Tunnels Corp. on September 4, 2026, and the initial closing under the August 24, 2026 asset purchase agreement is complete. Silver Bow funded about US$28.58 million into escrow for creditor obligations, including roughly US$4.27 million to Jefferson County and US$20.78 million to the Montana Department of Environmental Quality. Ownership transfers only at final closing, subject to shareholder and NYSE American approvals.
AcquisitionSilver Bow Mining Intersects 994.2 g/t AgEq Over 4.0 m, including 1,586.1 g/t AgEq Over 2.3 m, from the Rainbow Block in Butte, Montana
Drill hole SBM26-03 at the Rainbow Block Project in Butte, Montana returned 4.0 m grading 994.2 g/t AgEq (309.0 g/t Ag, 1.85 g/t Au, 9.98% Zn, 5.75% Pb), including 2.3 m at 1,586.1 g/t AgEq, from the Badger Vein about 125 m beyond the current Inferred Mineral Resource. SBM26-04 returned 2.0 m at 693.1 g/t AgEq from the Jessie Vein and 1.6 m at 502.0 g/t AgEq from the State Vein. About 13,500 feet of the 25,000-foot Phase I program is complete, with an updated resource estimate planned for the first half of 2027.
Drill resultsSilver Bow Mining Signs Definitive Agreement to Acquire the Jefferson County Metallurgical Complex in Montana
A definitive asset purchase agreement has been signed with Montana Goldfields, Inc. and Montana Tunnels Mining, Inc. to acquire the Jefferson County Metallurgical Complex in Jefferson County, Montana, comprising 15,000-tpd and 1,000-tpd milling and flotation circuits, tailings and other infrastructure on about 5,000 acres, plus the Montana Tunnels M-Pit. Consideration includes roughly US$28.6 million in cash to creditors, about US$4.27 million to Jefferson County and US$20.8 million to the Montana DEQ, 3,500,000 Final Closing CVRs and 11,500,000 milestone-contingent CVRs. Closing requires bankruptcy court, shareholder and NYSE American approvals.
AcquisitionSilver Bow Mining Re-Establishes Underground Access at Its High-Grade Rainbow Block Silver-Zinc Project
Underground access has been re-established at the Rainbow Block Silver-Zinc Project in the Butte Mining District, Montana, following rehabilitation of the historic Chief Joseph Portal, measuring approximately 12 feet wide by 14 feet high. MSHA has issued Federal Mine ID No. 24-02827 under the name Silver Bow Mine, authorizing underground activities. Next steps include rehabilitating the Chief Joseph Decline and establishing underground drill stations on the 200 Level, plus surface preparation for a new 16.5-foot by 16.5-foot Rainbow Portal about 1,000 feet north.
CorporateSilver Bow Mining Appoints Montana Mining Executive Doug Stiles as President
Doug Stiles has been appointed President of Silver Bow Mining Corp., reporting to Chairman and CEO Travis Naugle. Stiles has served as Vice President of Regulatory and External Affairs since February 2026 and has more than 25 years of experience permitting, developing, operating and remediating Montana mining projects, including Rock Creek, Montanore and the Troy Mine, and previously held roles at Hecla Mining Company and Revett Silver Company. The company is advancing the silver-zinc Rainbow Block Project in Montana's Butte Mining District.
ManagementSilver Bow Mining Added to Russell 3000, MicroCap Indexes
Silver Bow Mining Corp. (NYSE American: SBMT) has been selected for inclusion in the Russell 3000 and Russell MicroCap Indexes, effective June 26, 2026, following its May 1 IPO. The company is exploring the Butte Mining District in Montana, holding approximately 4,210 acres of patented mineral claims and approximately 1,427 acres of surface lands. Its Rainbow Block hosts an inferred resource of 11.48 million short tons grading 14.8 oz/ton AgEq, effective December 31, 2024.
CorporateSilver Bow Mining Reports Initial Assay Results from Drill Program
The first two holes of a 25,000-foot surface diamond drilling program at the Rainbow Block Project in Butte, Montana returned intercepts including 7.0 feet at 16.10 opt Ag in the Silver City Vein, 11.9 feet at 11.23% Zn with 9.38 ppm indium, and 3.8 feet at 7.90% Zn with 86.7 ppm indium in the Badger Vein. SBM26-01 and SBM26-02 totalled about 2,065 feet and stepped out 640 to 2,270 feet beyond the inferred Mineral Resource Estimate boundary. Two additional drill rigs have been mobilized.
Drill resultsA Message from Travis Naugle: Letter to Silver Bow Mining Shareholders
Silver Bow Mining Corp. (NYSE American: SBMT) published its first shareholder letter as a public company, from Travis Naugle, covering vision, work programs and priorities; the letter is available as a PDF. The company is exploring the Butte Mining District of Montana, holding approximately 4,210 acres of patented mineral claims and approximately 1,427 acres of surface lands. The Rainbow Block hosts an inferred resource of 11.48 million short tons grading 14.8 oz/ton AgEq (4.28 oz/ton Ag, 0.05 oz/ton Au, 4.59% Zn, 1.25% Pb), effective December 31, 2024.
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