Silver Bow Mining Corp. has received a U.S. Bankruptcy Court order approving the sale of specified assets of Montana Tunnels Mining, Inc. known as the Jefferson County Metallurgical Complex, and has completed the initial closing under its definitive asset purchase agreement.

Prior to the initial closing, Silver Bow Mining funded approximately US$28.58 million into an escrow account to cover specified creditor obligations. That total includes approximately US$4.27 million owed to Jefferson County, Montana, and about US$20.78 million directed to the Montana Department of Environmental Quality. As part of the initial closing mechanics, Silver Bow Mining issued instructions to release those funds, while Montana Goldfields, Inc. issued a senior secured note to the company, guaranteed by Montana Tunnels Mining and secured against real property interests, fixtures, and tangible personal property at the complex.

Located roughly 55 road miles northeast of Butte, the 5,000-acre Jefferson County Metallurgical Complex contains 15,000-tpd and 1,000-tpd mineral processing circuits, crushing and storage facilities, and tailings infrastructure. Silver Bow Mining intends to apply the 1,000-tpd processing circuit toward treating mineralized material from its flagship Rainbow Block Project.

“Bankruptcy Court approval and completion of the Initial Closing mark an important step toward securing strategic processing infrastructure in Montana,” said Travis Naugle, Chairman and Chief Executive Officer of Silver Bow Mining.

The initial closing does not transfer ownership of the complex to Silver Bow Mining. Acquiring ownership remains subject to a final closing, which depends on customary closing conditions, including shareholder approval for the issuance of common shares underlying contingent value rights and NYSE American stock exchange approval.

Silver Bow Mining previously announced the definitive asset purchase agreement for the complex on August 24, 2026. Alongside the acquisition process, Silver Bow Mining is advancing its 25,000-foot Phase I diamond drill program at the Rainbow Block Project, where three surface rigs are operating to support ongoing exploration.

Read the full announcement: Silver Bow Mining Receives Bankruptcy Court Approval and Completes Initial Closing for Acquisition of Jefferson County Metallurgical Complex