VANCOUVER, British Columbia,
May 18, 2011 /PRNewswire/ -- Silver
Bull Resources Inc. (NYSE Amex: SVBL, TSX: SVB) ("Silver Bull") is
pleased to announce that Coeur d'Alene Mines Corporation (NYSE:
CDE, TSX:CDM) ("Coeur d'Alene") has executed a term sheet to make a
US$5 million investment in Silver
Bull. Coeur d'Alene intends to purchase 7,352,941 shares of Silver
Bull common stock at $0.68 per share
in a private placement transaction. Closing of the transaction is
subject to the execution of a definitive agreement, and approval of
the NYSE Amex Stock Exchange and the Toronto Stock Exchange.
Tim Barry, President and CEO
states, "We are extremely pleased to have a company with the
reputation and stature of Coeur d'Alene invest in Silver Bull and
this financing will allow us to complete our planned 2011
exploration program at Sierra
Mojada. We feel this investment is a solid endorsement of
the work we have completed to date, and of the potential at the
Sierra Mojada project."
About Silver Bull
Silver Bull is focused on the acquisition, exploration and
potential development of mineral properties. Silver Bull currently
owns mineral concessions in the municipality of Sierra Mojada, Coahuila, Mexico and holds
exploration licenses in Gabon,
Africa. To obtain more information
on Silver Bull visit the web site at
www.silverbullresources.com.
On behalf of the Board of Directors,
"Tim Barry"
Tim Barry,
MAusIMM
Chief Executive Officer, President and Director
Cautionary note regarding forward looking statements. This
news release contains forward-looking statements regarding future
events and Silver Bull's future results that are subject to the
safe harbours created under the Securities Act of 1933 (the
"Securities Act") and the Securities Exchange Act of 1934 (the
"Exchange Act"). These statements are based on current
expectations, estimates, forecasts, and projections about the
industry in which Silver Bull operates and the beliefs and
assumptions of Silver Bull's management. Words such as "expects,"
"anticipates," "targets," "goals," "projects," "intends," "plans,"
"believes," "seeks," "estimates," "continues," "may," variations of
such words, and similar expressions, are intended to identify such
forward-looking statements. In addition, any statements that refer
to projections of Silver Bull's future financial performance,
Silver Bull's anticipated growth and potential in its business and
other characterizations of future events or circumstances are
forward-looking statements. Such statements are subject to a number
of assumptions, risks and uncertainties, including such factors as
the volatility and level of commodity prices, currency exchange
rate fluctuations, uncertainties in cash flow, expected acquisition
benefits, exploration mining and operating risks, competition,
litigation, environmental matters, the potential impact of
government regulations, and other matters discussed under the
caption "Risk Factors" in our Annual Report on Form 10-K for the
fiscal year ended October 31, 2010
and subsequent periodic reports, many of which are beyond our
control. Readers are cautioned that forward-looking statements are
not guarantees of future performance and that actual results or
developments may differ materially from those expressed or implied
in the forward-looking statements.
SOURCE Silver Bull Resources Inc.