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Silver Bull Resources Increases the Silver Resource of the Shallow Silver Zone at the Sierra Mojada Project, Coahuila, Mexico.

Wednesday October 12, 2011, 9:00 am

VANCOUVER, British Columbia, Oct. 12, 2011 /PRNewswire/ -- Silver Bull Resources, Inc. (TSX:SVB.TO; AMEX:SVBL - News) ("Silver Bull") is pleased to provide the results that will be reported in the updated NI43-101 Technical Report ("the Technical Report") currently being completed by SRK Consulting (Canada) Inc. ("SRK") on the silver mineralization of the "Shallow Silver Zone" at the Sierra Mojada Project in Coahuila, Mexico.

The mineral resource estimate for the Shallow Silver Zone contained in the Technical Report at an economic cutoff grade of 15 g/t of silver for resources possibly accessible by open pit mining and 70 g/t of silver resources possibly amenable to underground mining have been classified as follows:

* An Indicated silver resource of 28.564 million tonnes at an average grade of 50.4 g/t - equivalent to 46.313 million troy ounces of silver for the silver Whittle pit.

* An Indicated silver resource of 0.282 million tonnes at an average grade of 110.9 g/t - equivalent to 1.007 million troy ounces of silver for the Underground workings.

* An Inferred silver resource of 9.248 million tonnes at an average grade of 44.3 g/t - equivalent to 13.188 million troy ounces of silver for the silver Whittle pit.

* An Inferred silver resource of 0.174 million tonnes at an average grade of 117.8 g/t - equivalent to 0.661 million troy ounces of silver for the Underground workings.

A summary of the mineral resource estimate as of at various silver cutoff grades is as follows;

---------------------------------------------------------------------- 
                     Inside Silver Whittle Pit 
 ---------------------------------------------------------------------- 
 Class     Cut-off  Tonnage(000's)  Ag g/t   Zn %   Silver Ounces (Moz) 
 ---------------------------------------------------------------------- 
 Indicated  >70g/t          5.497    114.6   1.06               20.263 
            >50g/t          9.691     90.5   1.05               28.191 
            >40g/t         13.228     78.2   1.03               33.270 
            >30g/t         18.250     66.3   1.01               38.887 
           >20 g/t         25.160     54.9   0.98               44.385 
           >15 g/t         28.564     50.4   0.95               46.313 
           >10 g/t         31.111     47.3   0.92               47.355 
 --------------------------------------------------------------------- 
 Inferred   >70g/t          0.977     99.5   0.47                3.127 
            >50g/t          2.780     72.4   0.38                6.475 
            >40g/t          4.442     62.1   0.42                8.873 
            >30g/t          6.419     53.7   0.42               11.087 
           >20 g/t          8.493     46.7   0.42               12.754 
           >15 g/t          9.248     44.3   0.42               13.188 
           >10 g/t          9.481     43.6   0.41               13.284 
 --------------------------------------------------------------------- 
                            Underground 
 --------------------------------------------------------------------- 
 Class      Cut-off Tonnage(000's)  Ag g/t   Zn %  Silver Ounces (Moz) 
 --------------------------------------------------------------------- 
 Indicated  >70g/t          0.282    110.9   2.84                1.007 
 Inferred   >70g/t          0.174    117.8   0.91                0.661 
 ---------------------------------------------------------------------

In order to establish a reasonable prospect of economic extraction in an open pit context, the reported silver resource falls within an optimized Whittle pit shell that uses an average silver price of US$20/oz with an estimated recovery of 62%. Pit walls are set at 50 degrees in country rock and 35 degrees in the overburden, and mining costs have been estimated at US$1.50/tonne, and processing costs at US$4.00/tonne. In addition to the resource reported within the Whittle pit boundaries, higher grade zones of silver mineralization that fall outside the Whittle pit, but have a reasonable prospect to be mined underground from the conceptual pit wall have also been included. A zero percent recovery for any other minerals that report with the silver has been assumed.

At the 15 g/t cutoff for silver, this updated resource estimate represents a 45% increase in the combined inferred and indicated silver ounces of the Shallow Silver Zone that were previously reported by Silver Bull in the NI43-101 Technical Report released in April 2011 (the "April 2011 Technical Report"). It also represents a 174% increase in the number of silver ounces of the Shallow Silver Zone that now report in the "indicated" category. The economic parameters used in this report for the Whittle pit are such that it takes in approximately 77% of the silver body defined so far in the Shallow Silver Zone and completely excludes the high grade zinc mineralization of the "Red" and "White" zinc zones which lie underneath and adjacent to the silver body.

Tim Barry, President, CEO and director of Silver Bull states, "We are very pleased with this report and plan to keep adding to this silver resource via the continued drilling of the open extensions to the Shallow Silver Zone. Our board recently approved an additional 10,000 meters of drilling in calendar year 2011 in addition to the existing 20,000 meter drill program currently underway on the Shallow Silver Zone. The majority of these additional meters are planned to step out towards the west along the strike of the known mineralized zone along the Shallow Silver Zone. In addition to the silver we also have a program underway targeting the zinc rich zones and expect to include any results this in our next resource update planned for 2012".

Silver Bull will post the Technical Report from which the above resource numbers were extracted, onto the SEDAR website (www.sedar.com) upon receipt of the completed Technical Report which is expected before the end of the month.

About the Shallow Silver Zone: The "Shallow Silver Zone" is an oxide silver deposit (+/- zinc & lead), hosted along an east-west trending fracture-karst system set in a cretaceous limestone-dolomite sequence. The mineralized body averages between 30m – 90m thick, up to 200m wide and remains open in the east, west, south and northerly directions. Approximately 60% of the current 3.2 kilometer strike length is at or near surface before dipping at around 10 degrees to the east.

About Silver Bull

Silver Bull is a US registered mineral exploration company listed on both the NYSE Amex 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 owns three mineral exploration licenses in Gabon, Africa, two of which are currently under joint venture with AngloGold Ashanti. These licenses are prospective for gold, manganese, and iron ore. Website: http://www.silverbullresources.com

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"
Tim Barry, MAusIMM
Chief Executive Officer, President and Director


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