Silver Bull closes $5 million private placement with Coeur d’Alene Mines

Silver Bull Resources Inc.  (SVB – TSX, SVBL – NYSE – Amex) is pleased to announce the closing of its recently announced private placement financing with Coeur d’Alene Mines Corporation (NYSE: CDE, TSX: CDM). Coeur d’Alene purchased 7,353,000 shares of Silver Bull common stock at $0.68 per share for total gross proceeds of US$5.4 million.

“The closing of this financing with Coeur d’Alene is significant as we have secured the funds necessary for our current exploration program at Sierra Mojada and now have a strategic partner that is the largest U.S.-based primary silver producer with experience in developing several silver mines worldwide, including Mexico, ”  said Tim Barry, President and CEO of Silver Bull.

The proceeds of the financing will be used in the continued exploration and advancement of Silver Bull’s flagship Sierra Mojada silver-zinc project in Mexico and for general corporate purposes.

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 licences in Gabon, Africa. To obtain more information on Silver Bull visit the web site at www.silverbullresources.com.