VANCOUVER, British Columbia, July 26, 2011 /PRNewswire/ -- Silver Bull Resources, Inc. (TSX: SVB, AMEX: SVBL) ("Silver Bull") is pleased to announce it has signed a contract with SRK Consulting ( Canada) Inc. to produce an updated NI43-101 compliant resource report on the silver mineralization of the "Shallow Silver Zone" at the Sierra Mojada Project in Coahuila, Mexico.
The planned NI43-101 update is expected to be completed in the Fall of 2011 and will incorporate over 6,000m of new drilling from the 2011 drill campaign currently underway at Sierra Mojada, as well as a significant historical database that has been compiled from work completed between 1994 to 2010 by Metalline Mining Company (now SilverBull), Penoles, and North Ltd.
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 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, MAusIMMChief 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/A 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.