Bullet Exploration Applies for Extension to Term of Warrants

Vancouver, October 10, 2024 - Bullet Exploration Inc. (TSXV: AMMO) ("Bullet" or the "Company") announces that it has made application to the TSX Venture Exchange (the "Exchange") to extend the term of an aggregate of 19,200,000 outstanding common share purchase warrants (the "Warrants") due to expire on October 24, 2024. The Warrants were issued in connection with a private placement of units that closed on October 24, 2023, and are currently exercisable at $0.15 per common share. Under the proposed amendment to the Warrants, the Company proposes to extend the expiry date for an additional two years to October 24, 2026, with all other terms of the Warrants remaining the same. The proposed extension to the term of the Warrants remains subject to approval by the Exchange.

Bullet also announces that, on October 8, 2024, it received an exercise of common share purchase warrants resulting in the issuance of an aggregate of 2,190,000 common shares of the Company at a price of $0.075 per share for gross proceeds of $164,250.

About Bullet Exploration Inc.

Bullet Exploration Inc. is a TSX Venture-listed company focused on high-potential gold and silver projects in the Southwest United States. The flagship Jefferson North Gold-Silver project in Nevada, near major producers like Kinross's Round Mountain, spans 1,068 hectares and 132 claims, offering significant exploration potential. Bullet also holds the Copper Canyon Property in British Columbia, targeting a copper-gold porphyry deposit. With a tight capital structure and a long-term vision for growth, Bullet is committed to advancing its projects and creating lasting shareholder value.

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Reader Advisory

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the proposed extension to the term of the Warrants and the approval of the Exchange. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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