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Tuesday, February 25, 2014 10:39:26 AM
Silver Bull Receives Water Permits For Flagship Sierra Mojada Silver-Zinc Project, Coahuila, Mexico
Vancouver, British Columbia - February 25, 2014 -- Silver Bull Resources, Inc. (TSX: SVB, NYSE MKT: SVBL) ("Silver Bull") is pleased to announce it has been granted water permits to access water of up to 3,500,000 cubic meters per annum for use on its Sierra Mojada Project in Coahuila, Mexico.
The National Water Commission of Mexico ("CONAGUA"), an agency of the Ministry of Environment and Natural Resources, has granted 6 permits to a subsidiary of Silver Bull for water wells with capacity to draw up to 3,500,000m3 annually from the regional aquifer.
The Preliminary Economic Assessment on the Sierra Mojada project, filed November 15, 2013 (and available for download at www.silverbullresources.com), outlined an 8,500 tonne per day mill throughput operation with an estimated annual industrial water requirement for 2,000,000m3 and annual potable water requirement of 500,000m3, resulting in an estimated total annual regional water requirement of 2,500,000m3.
A hydrological report commissioned by Silver Bull in November 2012 shows the Sierra Mojada project sits on the edge of the Laguna del Ray Aquifer which covers an estimated area of 3,097km2 and can easily accommodate the water requirements for the project.
Tim Barry, President and CEO of Silver Bull states, "This is another major step forward for the project. One of the major killers of projects in dry regions can often be access to enough water; we do not have this problem at Sierra Mojada. Hydrological studies completed on the area clearly indicate that there is sufficient water available to support our operations as well as future growth for nearby communities as a result of the jobs we create in the region. This is yet another key milestone to de-risk this project and advance it forward."
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 company's flagship "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. For more information, visit us at http://www.silverbullresources.com/
On behalf of the Board of Directors
"Tim Barry"
Tim Barry, MAusIMM
Chief Executive Officer, President and Director
INVESTOR RELATIONS:
Matt Hallaran
+1 604 336 8096
info@silverbullresources.com
http://www.silverbullresources.com/s/news.asp?ReportID=626829
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