Silver Bull Resources Reports Decreased Net Loss and Ongoing Financial Challenges in Q3 FY 2026

Silver Bull Resources, Inc. has reported its financial results for the third quarter of fiscal year 2026, revealing a net loss of $125,330, or approximately $0.00 per share, compared to a net loss of $405,197, or approximately $0.01 per share, for the same period in the previous year. The decrease in net loss of $279,867 was primarily attributed to a shift from other expenses to other income, which totaled $189,670 in the current quarter, compared to a loss of $249,139 in the prior year. The company continues to operate without generating any revenue, maintaining its status as an exploration stage company.

In terms of operational costs, Silver Bull reported exploration and property holding costs of $159,639 for the three months ended July 31, 2026, an increase from $142,175 in the same quarter last year. This rise was largely due to legal expenses incurred in Mexico. General and administrative expenses also saw a significant increase, totaling $155,361 compared to $16,396 in the previous year, driven by higher professional service fees and personnel costs. The company’s total liabilities increased to $9,367,700 as of July 31, 2026, up from $8,436,970 at the end of the previous fiscal year.

The company’s cash and cash equivalents decreased to $925,524 from $1,135,565 as of October 31, 2025, reflecting a working capital deficiency of $8,333,000. This decline in liquidity is attributed to increased payables and accrued liabilities, as well as rising general and administrative expenses. Silver Bull has not generated cash flows from operations since its inception and has relied on equity financing and warrant exercises to fund its activities. The company is currently assessing its options for additional financing to continue operations over the next 12 months.

Strategically, Silver Bull has faced challenges related to its Sierra Mojada Property in Mexico, where an illegal blockade has hindered access since 2019. The company has pursued arbitration against the Mexican government for compensation related to this blockade, but a recent ruling from the International Centre for Settlement of Investment Disputes dismissed the claim, leading to a potential liability of approximately $998,000 for legal costs. Following this unfavorable outcome, the company is evaluating its strategic options, including the possibility of seeking new exploration projects.

Looking ahead, Silver Bull's management is focused on resolving the blockade at the Sierra Mojada Property and maintaining its property concessions. The company plans to prepare an updated exploration program once access is restored. However, given the current financial position and ongoing challenges, there is substantial doubt regarding the company's ability to continue operations without securing additional funding. The management remains optimistic about pursuing financing options, although there are no guarantees of success.