FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Kunz Daniel J
2. Issuer Name and Ticker or Trading Symbol

SILVER BULL RESOURCES, INC. [ SVBL ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)

C/O SILVER BULL RESOURCES, INC., 777 DUNSMUIR STREET, SUITE 1610
3. Date of Earliest Transaction (MM/DD/YYYY)

2/2/2021
(Street)

VANCOUVER BC, A1 V7Y 1K4
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 2/2/2021  M  25000 A$0.48 188125 D  
Common Stock 2/2/2021  F  13761 D$0.85 (1)174364 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option (Right to Buy) $0.48 (2)(3)2/2/2021  M     25000 (2)  (4)2/22/2021 Common Stock 25000 (2)$0.00 0 D  

Explanation of Responses:
(1) Price shown is in US$ and was converted based on the foreign currency exchange rate as of February 1, 2021 (CDN$1.00=US$0.7808).
(2) The exercise price or share amount was adjusted to reflect the one-for-eight reverse stock split of the shares of SVBL common stock completed on September 18, 2020.
(3) This option to purchase common stock was priced in CDN$ at CDN$0.075. Exercise price shown is in US$ and was converted based on the foreign currency exchange rate as of February 23, 2016 (CDN$1.00=US$0.7277).
(4) This option to purchase common stock vested in three (3) annual installments of 8,333, 8,333 and 8,334. The first installment vested on February 23, 2016, the second installment vested on February 23, 2017, and the third installment vested on February 23, 2018.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Kunz Daniel J
C/O SILVER BULL RESOURCES, INC.
777 DUNSMUIR STREET, SUITE 1610
VANCOUVER BC, A1 V7Y 1K4
X



Signatures
/s/ Daniel J. Kunz2/4/2021
**Signature of Reporting PersonDate

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