CORPORATE PRESENTATION

2

Forward Looking Statements

Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources: This press release uses the terms "measured resources", "indicated resources", and "inferred resources" which are defined

in, and required to be disclosed by, NI 43-101. We advise U.S. investors that these terms are not recognized by the United States Securities and Exchange Commission (the "SEC"). The estimation of measured, indicated and

inferred resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that measured and indicated

mineral resources will be converted into reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S.

investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources. Under Canadian securities laws, estimates

of inferred mineral resources may not form the basis of feasibility or other economic studies.

.

Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations, however the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as

in place tonnage and grade without reference to unit measures. Accordingly, the information contained in this press release may not be comparable to similar information made public by U.S. companies that are not subject

to National Instrument 43-101.

Cautionary note regarding forward looking statements: This news release contains forward-looking statements regarding future events and Silver Bull's future results that are subject to the safe harbors created under the U.S.

Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended (the "Securities Act"), and the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and applicable Canadian securities

laws. Forward-looking statements include, among others, statements regarding mineral resource estimates and, the potential for open pit or below ground development. These statements are based on current expectations,

estimates, forecasts, and projections about Silver Bull's exploration projects, the industry in which Silver Bull operates and the beliefs and assumptions of Silver Bull's management. Words such as "expects," "anticipates," "targets,"

"goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements.

Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including such factors as the results of exploration activities and whether the results continue

to support continued exploration activities, unexpected variations in mineralization grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters

discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended October 31, 2016, as amended, and our other periodic and current reports filed with the SEC and available on

www.sec.gov and with the Canadian securities commissions available on www.sedar.com. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or

developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by us in this release is based only on information currently available to us and

speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new

information, future developments or otherwise.

The technical information of this presentation has been reviewed and approved by Tim Barry, a Chartered Professional Geologist (CPAusIMM), and a qualified person for the purposes of National Instrument 43-101.

3

Corporate Snapshot

Silver Bull Resources Inc. Corp. Presentation May 2018

Capitalization

Shares Outstanding 204,739,342

Options/Warrants 34,515,325

Shares Fully Diluted 239,254,667

Share Price (C$/share) $0.18

52 Wk High – Low (C$/share) $0.09-$0.29

3 Mth Avg. Volume (TSX+OTC) 1.2M

Market Capitalization (C$) $35M

Cash as of Mar-18 (US$) $0.3M

Shareholders

Directors/Officers 3.5%

Lazarus Investment Fund 8.7%

Sprott 2.8%

US Global 2.0%

Management & Directors

Tim Barry: President, CEO & Director

Brian Edgar: Chairman

Daniel Kunz: Director

John McClintock: Director

Sean Fallis: CFO

Juan Manuel Ramirez: Operations Manager

4

Investment Highlights & Catalysts

Joint Venture with South32 – one of the worlds largest Mining Companies (Mrk Cap of ~$20B

$10M in exploration to be funded by South32 over the next 4 years and an additional $90M to be funded by South32 should they elect to move forward with the project

Commodity price optionality due to sizeable Zn & Ag resource

M&I Zinc Zone: 4.7Blbs Zn, high-grade core of 2.5Blbs @ 11% Zn – trades at US$0.007/lb Zn

M&I Silver Zone: 90.8Moz Ag, higher grade core of 63Moz @ 102.5g/t – trades at US$0.37/oz Ag

Arizona Mining’s Taylor Deposit provides direct analogue and sulphide prospectivityproven by:

Identification of Sulphide Zone

Successful testing of Eastern Extension of Zinc and Silver Zone orebodies – sulphide mineralization identified

Near term catalysts include drill results from ongoing Sulphide Zone exploration program

5

Joint Venture with one of the largest mining companies in the world - $20B

market cap

$10M to go into exploration over the next 4 years at Sierra Mojada

At the end of 4 years South 32 have the option to for a 70:30 joint venture

company which will own the Sierra Mojada asset

South 32 will then to invest an additional $90M to earn their70%

Should South32 elect not to proceed with the 70:30 joint Venture the project

will return back to SilverBull 100%

South 32 Joint Venture

6

CRDs are 2nd largest contributor to Mexican silver production

Located on +2,000km long belt of carbonate rocks from SE Arizona (e.g., Arizona Mining’s Taylor) to SE Mexico

Sierra Mojada has typical CRD characteristics:

Fold/thrust control, carbonate host rocks, high temperature Zn-Ag-Pb-Cu mineralization, forms mantos, chimneys

High-grade with weathering to +100m forming non-sulphide zinc deposit of +4.7Mlbs and separate silver deposit of 90.8Moz

StrategyExplore for Sulphide Zn-Ag-Pb-Cu Mineralization

Silver Bull Resources Inc. Corp. Presentation May 2018

Source: Discovery Metals Corp.

Taylor

Source: Discovery Metals Corp.

7

Sierra Mojada Location Map

8

Extensive Historic Mining Activity120 years of continuous mining - Demonstrates Size & Grade of District

9

Sierra Mojada NI43-101 ResourcesSpatially Separate Zn Zone & Ag Zone Deposits

10

Abundant InfrastructureAccess, Power, Water

2 Paved Road

4 Penoles Chemical Plant With Gas Pipeline

1 Rail Load Out Facilities

3 Camp

N

20km

1

2

3

4

11

Sulphide Zones – East and West Zones

4km

East Zone

West Zone

??

??

12

Sulphide Zone Prospect Location

13

West Zone Discovery OutcropsUnderground High-Grade Ag+Zn+Cu+Pb Sulphide Mineralization

495g/t Ag, Zn 7.1%, Cu 1.1%, Pb 27% Ag-Cu-Pb-Zn Sulphide Mineralization

14

West Zone Sulphide Target

15

West Zone - Sulphide ZoneCross Section

16

West Zone - Sulphide Zone DiscoveryUnderground sampling 31.5m @ 22.36% Zn & 134g/t Ag

17

T17002 – 25.5 meters @ 294g/t Ag and 0.96% Cu

T17003 – 16 meters @ 396g/t Ag and 1.61% Cu

T17004 – 7 meters @ 370g/t Ag and 0.85% Cu

T17006 – 4.8 meters @ 352g/t Ag and 0.58% Cu

T17009 – 3 meters @ 537g/t Ag and 1.06% Cu

T17010 – 9 meters @ 20.7% Zn, 1.0% Pb. 98g/t Ag, 0.26% Cu

T17013—17 meters @ 301g/t Ag and 1.75% Cu

T17014—7.1 meters @ 163g/t Ag and 0.57% Cu

T17015—1 meter @ 312g/t Ag and 1.83% Cu

T17019 – 2 meters @ 1,300g/t Ag, 13.52% Zn, 2.95% Pb. 3.87% Cu

T17021—6 meters @ 5.8% Zn, and 0.57% Cu

T17022 – 6 meters @ 802g/t Ag, 5.87% Zn, 0.54% Pb, 3.3% Cu

West Zone - Sulphide ZoneRecent Drill Results

18

West Zone - Drill Results – Plan View

19

West Zone - Sulphide ZoneIn-situ Sulphide Ag±Zn±Pb±Cu Mineralization

1m 0.5m

20

Sulphide ZoneNew Extension adds an additional 350m Along Strike to the area

recently drilled

SELECT CHANNEL SAMPLE RESULTS FROM NEW ZONE• N342060 @ 27.5% Zn, 80.5g/t Ag, 4.18% Pb, 0.17% Cu• N342068 @ 27.2% Zn, 149g/t Ag, 14.5% Pb, 0.26 Cu• N342072 @ 26.6% Zn, 160g/t Ag, 9.23% Pb, 0.33% Cu• N342063 @ 25.3% Zn, 105g/t Ag, 4.13% Pb, 0.09% Cu• N342069 @ 22.2% Zn, 101g/t Ag, 16.05% Pb, 0.14% Cu

• N342071 @ 22.1% Zn, 182g/t Ag, 9.79% Pb, 0.49% Cu• N342075 @ 21.8% Zn, 159g/t Ag, 17.6% Pb, 0.36% Cu• N342064 @ 20.7% Zn, 146g/t Ag, 4.58% Pb, 0.12% Cu• N342067 @ 20.2% Zn, 69.5g/t Ag, 4.23% Pb, 0.12% Cu• N342074 @ 19.45% Zn, 90.2g/t Ag, 7.47% Pb, 0.13% Cu• N342058 @ 17.25% Zn, 175g/t Ag, 3.34% Pb, 0.52% Cu• N342051 @ 15.65% Zn, 53.9g/t Ag, 4.91% Pb, 0.17% Cu

SELECT CHANNEL SAMPLE RESULTS FROM NEW ZONE• N342078 @ 11.7% Zn, 606g/t Ag, 2.16% Pb, 0.40% Cu• N342077 @ 1.23% Zn, 514g/t Ag, 1.18% Pb, 1.19% Cu• N342085 @ 1.565% Zn, 251g/t Ag, 5.02% Pb, 0.25% Cu• N342086 @ 2.61% Zn, 242g/t Ag, 0.765% Pb, 0.37% Cu• N342087 @ 1.49% Zn, 182g/t Ag, 0.362% Pb, 0.31% Cu• N342088 @ 0.44% Zn, 178g/t Ag, 0.21% Pb, 0.27% Cu• N342082 @ 2.19% Zn, 160g/t Ag, 1.23% Pb, 0.36% Cu• N342089 @ 0.327% Zn, 154g/t Ag, 0.17% Pb, 0.20% Cu• N342079 @ 2.92% Zn, 116g/t Ag, 0.75% Pb, 0.35% Cu

• N342083 @ 20.6% Zn, 104g/t Ag, 0.17% Pb, 0.37% Cu• N342084 @ 1.535% Zn, 98.5g/t Ag, 2.56% Pb, 0.08% Cu 2017 DRILL STATION

2017 DRILL STATION

21

West Zone - Drill Target900m Gap to be Tested immediately

22

West Zone – 2km Sulphide target

23

Sulphide Zones – East and West Zones

4km

East Zone

West Zone

??

??

24

East Zone – Sulphide Extension of oxide ore

body

25

Eastern ExtensionHigh Grade Sulphide Mineralization

1m

1m

26

Sulphide Zones – Open to the East and West

4km

Sulphide Mineralization

Open

Sulphide Mineralization

Open

27

Sierra Mojada Project Map+30km Strike of Known Ag-Zn-Pb-Cu Mineralization

28

Palomas Negros

29

Palomas Negros – Key Licence Acquired

30

Palomas Negros – Recent Sampling

31

Palomas Negros Target

31

3.5km

32

Investment Highlights & Catalysts

Joint Venture with South32 – one of the worlds largest Mining Companies (Mrk Cap of ~$20B

$10M in exploration to be funded by South32 over the next 4 years and an additional $90M to be funded by South32 should they elect to move forward with the project

Commodity price optionality due to sizeable Zn & Ag resource

M&I Zinc Zone: 4.7Blbs Zn, high-grade core of 2.5Blbs @ 11% Zn – trades at US$0.007/lb Zn

M&I Silver Zone: 90.8Moz Ag, higher grade core of 63Moz @ 102.5g/t – trades at US$0.37/oz Ag

Arizona Mining’s Taylor Deposit provides direct analogue and sulphide prospectivityproven by:

Identification of Sulphide Zone

Successful testing of Eastern Extension of Zinc and Silver Zone orebodies – sulphide mineralization identified

Near term catalysts include drill results from ongoing Sulphide Zone exploration program – Potential for a large scale discovery

33

APPENDIX

34

Sierra Mojada is a CRD deposit

Zn-Ag-Pb-Cu discovered and

mined from 1879-1990

2015 NI43-101 global M&I oxide

resource of 4.7Blbs Zn & 90.8Moz

Ag

Separate and cohesive higher

grade Zinc & Silver Zone Deposits

New sulphide zones with Zn-Ag-

Pb-Cu identified 2017 –

contiguous to existing resources

Sierra Mojada Project SummaryLarge Oxide Resource, Sulphide Prospectivity Proven

Silver Bull Resources Inc. Corp. Presentation May 2018

Silica Alteration

4: Sierra Mojada Zn-Ag-Pb-Cu mineralization deposited then oxidized near surface

1: Old E-W basin bounding fault

2: South Verging Thrust Fault

3: Mineralizing event reactivates regional deep structures

?

5: What happens at depth and along E-W strike

Sulphide Zone

Bottom of Limestone

???

NI43-101 Resource

Schematic Mineralization Model Cross-

Section Looking South

35

Global Resource – June 2015NI43-101 Technical Report On The Resources Of The Sierra Mojada

Project Coahuila, Mexico

CategoryTonnes (Mt)

Ag (g/t) Zn (%) Cu (%) Pb (%) NSR ($/t)Ag

(Moz)Zn

(Mlb)Cu

(MLb)Pb

(Mlb)

Measured 36.5 48.5 4.6 0.05 0.3 46.9 55.0 3,689.7 36.8 277.1

Indicated 22.2 51.6 2.0 0.04 0.2 32.4 35.8 980.6 19.4 115.7

Total M&I 58.7 50 3.6 0.04 0.3 41.4 90.8 4,670.2 56.3 392.8

Inferred 0.5 44.7 4.7 0.02 0.5 26.5 0.3 54.3 0.2 6.0

The “Global Resource” is the addition of the resource defined by the LG optimized pit at $13.50/tonne NSR cut-off and for the underground resource at a 6% Zn cut-off.

NSR, Ag grades, and Ag ounces are from the LG optimized pit only.

Mineral resources are not reserves and do not have demonstrated economic viability.

Mineral resources are reported using a commodity price of US$ 18.00/oz silver and US$1.00/lb zinc and a 75% recovery for silver and a 41% recovery for zinc (no copper or lead is assumed to have been recovered in calculating this resource).

Tonnages are reported to the nearest 100,000 tonnes, grades are rounded to the nearest decimal place for Ag, Zn and Pb, and the nearest two decimals for Cu.

Rounding as required by reporting guidelines may result in apparent summation differences between tonnes, grade and contained metal.

Tonnage and grade are in metric units; contained metal for Zn Cu, & Pb are in imperial pounds.

Tonnage and grades are as reported directly from block model, with mined out areas removed.

36

Silver Zone ResourceSensitivity to Grade Cut-Off

CategoryAg Cutoff

(g/t)

Tonnes

(Mt)

Ag

(g/t)

Zn

(%)

Cu

(%)

Pb

(%)

Ag

(Moz)

Zn

(Mlb)

Cu

(Mlb)

Pb

(Mlb)

Me

asu

red

25.00 19.50 79.50 2.40 0.08 0.46 49.80 1,027.30 32.30 198.10

35.00 15.10 93.80 2.20 0.09 0.50 45.60 718.30 30.20 166.20

45.00 11.90 108.30 2.10 0.11 0.52 41.60 543.20 28.00 137.80

50.00 10.60 115.90 2.00 0.11 0.53 39.50 471.70 26.70 124.60

55.00 9.50 123.30 2.00 0.12 0.54 37.70 414.20 25.80 113.10

60.00 8.60 130.50 1.90 0.13 0.54 35.90 364.00 24.80 102.20

65.00 7.70 137.70 1.90 0.14 0.54 34.30 328.50 23.80 93.10

70.00 7.00 145.00 1.90 0.15 0.55 32.70 293.80 22.70 84.40

75.00 6.40 151.40 1.90 0.15 0.54 31.40 270.90 21.80 76.90

Ind

ica

ted

25.00 17.50 60.10 1.30 0.05 0.20 33.90 490.20 17.80 91.20

35.00 13.60 68.60 1.30 0.05 0.20 30.10 377.30 16.10 75.00

45.00 9.90 79.60 1.30 0.06 0.30 25.30 279.50 13.30 57.10

50.00 8.30 85.60 1.30 0.06 0.30 22.90 233.20 11.80 48.80

55.00 7.00 92.00 1.20 0.07 0.30 20.60 192.00 10.30 41.90

60.00 5.70 99.50 1.30 0.07 0.30 18.30 159.90 9.00 35.30

65.00 4.90 106.20 1.30 0.08 0.30 16.60 136.90 8.00 31.20

70.00 4.20 112.70 1.20 0.08 0.30 15.10 113.90 7.20 27.20

75.00 3.60 119.50 1.20 0.08 0.30 13.70 97.30 6.50 23.50

Infe

rre

d

25.00 0.20 52.90 0.50 0.03 0.10 0.30 1.90 0.10 0.37

35.00 0.10 59.30 0.40 0.02 0.06 0.30 1.10 0.07 0.19

45.00 0.10 67.80 0.20 0.02 0.03 0.20 0.40 0.04 0.07

50.00 0.10 71.80 0.20 0.01 0.03 0.20 0.40 0.02 0.05

55.00 0.10 75.20 0.20 0.01 0.03 0.20 0.30 0.02 0.05

60.00 0.10 80.00 0.10 0.01 0.03 0.10 0.10 0.01 0.04

37

Zinc Zone Resource

Sensitivity to Grade Cut-Off

CategoryZn Cutoff

(%)

Tonnes

(Mt)

Zn

(%)

Ag

(g/t)

Cu

(%)

Pb

(%)

Zn

(Mlb)

Ag

(Moz)

Cu

(Mlb)

Pb

(Mlb)M

ea

sure

d4.00 13.10 9.10 23.90 0.02 0.37 2,637.30 10.10 5.80 106.30

6.00 8.80 11.20 19.70 0.02 0.34 2,171.60 5.60 3.10 66.80

8.00 6.20 13.00 16.40 0.01 0.30 1,774.60 3.30 1.90 41.10

10.00 4.40 14.70 13.00 0.01 0.25 1,409.70 1.80 1.30 24.30

11.00 3.60 15.60 11.90 0.01 0.24 1,233.20 1.40 1.00 19.30

12.00 3.00 16.40 11.00 0.01 0.24 1,080.50 1.10 0.90 15.80

13.00 2.40 17.40 10.00 0.01 0.23 918.40 0.80 0.70 12.00

14.00 1.90 18.30 9.20 0.01 0.21 779.60 0.60 0.60 9.00

Ind

ica

ted

4.00 2.40 7.10 33.70 0.04 0.32 382.40 2.60 2.00 17.00

6.00 1.20 9.30 26.40 0.03 0.29 251.80 1.00 0.80 7.90

8.00 0.60 11.80 24.00 0.03 0.26 156.70 0.50 0.30 3.50

10.00 0.30 14.10 22.20 0.02 0.25 105.50 0.20 0.10 1.90

11.00 0.30 15.20 21.80 0.02 0.21 87.90 0.20 0.10 1.20

12.00 0.20 16.10 22.50 0.02 0.20 74.80 0.20 0.10 0.90

13.00 0.20 17.00 23.20 0.02 0.15 63.40 0.10 0.10 0.60

14.00 0.10 18.10 24.00 0.02 0.12 52.00 0.10 0.10 0.40

Infe

rre

d 4.00 0.02 10.00 - 0.00 0.08 3.50 - 0.00 0.03

6.00 0.01 13.90 - 0.00 0.02 2.60 - 0.00 0.00

8.00 0.01 13.90 - 0.00 0.02 2.60 - 0.00 0.00

38

Silver Zone & Zinc Zone DepositsSummary Metallurgical Options

Metallurgical testwork demonstrates technically viable processing options

for Silver Zone and Zinc Zone deposits

Leach•Crush, grind, VAT leach

MC

•Merrill Crow -> silver dore

•75% Ag recovery

SART

•Zn concentrate, 41% recovery

•+98% cyanide regeneration

1200oC

• 3:1 C:Zn; 12.5% Zn, 86.9% fumed (100g)

1200oC

• 4:1 C:Zn; 18.75% Zn, 93.9% fumed (150g)

1300oC

• 3:1 C:Zn; 12.5% Zn, 98.9% fumed (100g)

39

Silver Zone Metallurgical Testwork

Conventional 3 stage crush → primary ball mill grind → cyanide leach (24

hrs) → Merril Crowe silver precipitation → bio-SART process plant and

reagent facility → cyanide destruction → Ag dore (75% recovery) & Zn

sulphide (64% Zn concentrate)

SART (sulfidization, acidification, recycling and thickening)

Used to manage and recycle cyanide, particularly in deposits with cyanide

consuming minerals e.g., Newcrest’s Telfer and Kinross’ Maricunga

Sulfuric acid added to zinc complexed cyanide solution to break the cyanide-

zinc bond, sulphide reagent (H2S) added to precipitate Zn

Barren cyanide solution re-neutralized with lime, recycled back to Ag leaching

process as free cyanide

Source: 13-Nov-13 Sierra Mojada Silver Zone PEA.

40

Zinc Zone Processing Options

Key Takeaway – there is a viable processing route for the Zinc Zone deposit using a rotary kiln, the Waelz Kiln (which was first used in the early 1900s), to recovery Zn via volatization

SVB tested samples with recoveries of +90% at temperatures of 1,200 to 1,300oC

The deposit is also amenable to conventional flotation, but produces a concentrate that is ~40% Zn vs the +52% required by smelters, however the infrastructure (rail head) and proximity of smelters in Mexico means that the may be potential offtake partners

The deposit is also amenable to acid leach, but the presence of acid consuming limestone results in prohibitive acid consumption. SVB has submitted samples for dense media separation studies with the aim of removing the acid consuming gangue mineralogy similar to the approach being used by Nevada Zinc:

Lone Mountain Project – oxide (non-sulphide) Zn case study

Similar deposit type to SVB’s Sierra Mojada Zn deposit

Successfully rejected 90% of acid consuming gangue mineralogy (dolomite and carbonate) using dense media separation (DMS) – this pre-concentration reduces acid consumption resulting in amenability for acid leaching