Vancouver, British Columbia — Silver Bull Resources, Inc. (AMEX: SVBL, TSX: SVB) (“Silver Bull”) has received commitments from various investors for the sale of 21,050,000 shares of common stock at a price of $US 0.50 per share. Silver Bull is pleased to announce the closing of the sale of 20,755,000 shares of common stock at a price of $US 0.50 per share for gross proceeds of $US 10,377,500. Silver Bull expects to close the sale of the remaining 295,000 shares of common stock this week.

The offering was completed as a registered direct offering pursuant to a prospectus supplement to its currently effective shelf registration statement with the U.S. Securities and Exchange Commission (“SEC”) and a prospectus supplement to its shelf prospectus with Canadian securities regulatory authorities in the provinces of Alberta, British Columbia and Ontario. Silver Bull paid a 6% finder’s fee to a Canadian finder totaling $US 94,500 with respect to certain non-U.S. purchasers who were introduced by them. No finder’s fee, placement agent fees or underwriter fees were or are being paid with respect to any purchases by U.S. investors in the offering.

Silver Bull intends to use the net proceeds from the offering for continued drilling, metallurgical studies, and other geological work at the Sierra Mojada project, as well as payment of amounts due under option agreements to acquire certain Sierra Mojada concessions, and general corporate purposes.

About Silver Bull: Silver Bull is a U.S. 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, West Africa, two of which are currently under joint venture with AngloGold Ashanti. These licenses are prospective for gold, manganese, and iron ore.

On behalf of the Board of Directors

“Tim Barry”

Tim Barry, MAusIMM
Chief Executive Officer, President and Director