Item 1.02 Termination of a Material Definitive Agreement.

On August 31, 2022, Silver Bull Resources, Inc. ("Silver Bull" or the "Company") and its subsidiary Minera Metalin S.A. de C.V. ("Minera Metalin") entered into a termination agreement (the "Termination Agreement") with South32 International Investment Holdings Pty Ltd ("South32") pursuant to which agreement the parties will terminate that certain Option Agreement (the "Option Agreement"), dated as of June 1, 2018 and amended on March 20, 2019, among Silver Bull, Minera Metalin, South32, and Contratistas de Sierra Mojada S.A. de C.V., which merged with an into Minera Metalin on August 26, 2021. As a condition precedent to the termination of the Option Agreement, and as reimbursement for project-related costs and expenditures incurred or expected to be incurred in relation to the Option Agreement, South32 must pay Silver Bull $518,000 in cash. Pursuant to the Termination Agreement, upon termination of the Option Agreement, Silver Bull and Minera Metalin will release South32, and South32 will release Silver Bull and Minera Metalin, from any claims, including in relation to their respective obligations arising from the Option Agreement.

The Option Agreement has been under a force majeure since October 11, 2019 due to an ongoing blockade of the Sierra Mojada property located in Coahuila, Mexico, by a cooperative of local miners called Sociedad Cooperativa de Exploración Minera Mineros Norteños, S.C.L.

Item 7.01 Regulation FD Disclosure.

On September 1, 2021, the Company issued a press release regarding the termination of the Option Agreement. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

The information set forth in this Item 7.01, including the information set forth in Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.



Exhibit No.   Description
   99.1         News release, dated as of September 1, 2022
    104       Cover Page Interactive Data File (formatted as Inline XBRL and
              contained in Exhibit 101).






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