SILVER BULL RESOURCES, INC. : Change of Directors or Principal Officers, Submission of Questions to a Vote of Securityholders, Financial Statements and Supporting Documents (Form 8-K)

Article 5.02 Departure of directors or certain officers; Election of directors;

           Appointment of Certain Officers; Compensatory Arrangements of Certain

On April 19, 2022, Silver Bull Resources, Inc. (“Silver Bull” or the “Company”) held its annual meeting of shareholders (the “Annual Meeting”). Pursuant to the vote described in item 5.07 below, shareholders approved an amendment to the Company’s 2019 Stock Option and Stock Incentive Plan (the “2019 Plan”) to increase the number of Silver Bull ordinary shares issuable under the 2019 Plan and, upon such approval, the 2019 Plan, as amended, became effective. The 2019 Amendment changes the limit on the number of Silver Bull ordinary shares issuable under the 2019 Plan from the lesser of (A) 750,000 shares or (B) 10% of the total shares outstanding at any time to 10% of the total number of shares outstanding at any time. The amendment to the 2019 plan also increases the number of common shares of Silver Bull issuable under the 2019 plan for issuance as incentive stock options by 2,948,352 shares (adjusted for one-for-eight reverse stock split completed on September 18, 2020) to 15,000,000 shares (i.e. 10% of the authorized number of ordinary shares of Silver Bull), subject to the aggregate limitation on the number of shares which may be reserved for issuance under the Map 2019.

The foregoing description of the 2019 Plan Amendment is not complete and is qualified in its entirety by reference to the text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein. present. by reference.

Section 5.07 Submission of Matters to a Vote of Securityholders.

As indicated in point 5.02 above, the annual meeting was held on April 19, 2022. At the Annual Meeting, five proposals were submitted for shareholder approval, as set forth in the Company’s definitive proxy statement filed with the
Security and Exchange Commission on February 25, 2022. On the date of registration,
February 22, 2022, a total of 35,055,652 shares of Silver Bull common stock were outstanding and eligible to vote. A total of 15,598,424 shares of Silver Bull common stock were present in person or represented by proxy at the annual meeting, representing approximately 44.49% of the shares outstanding and eligible to vote as of the record date.

At the annual meeting, the shareholders approved each of the five proposals submitted, (i) electing the list of four persons to the board of directors of the Company, (ii) ratifying and approving Smythe LLP, Chartered Professional Accountants, as a registered public accounting firm independent of the Company, (iii) approve, on a non-binding advisory basis, the compensation of the Named Executive Officers of the Company, (iv) approve and adopt an amendment to the 2019 Plan to increase the number of common shares of Silver Bull issuable under the 2019 Plan, and (v) approve the rights not granted under the 2019 Plan, whether amended or nope. In each of the director elections and the non-binding advisory vote on executive compensation, there were a total of 4,389,023 broker non-votes. Votes on the proposals were cast as shown below:

1. Proposal No. 1 – Election of Directors. The shareholders elected the entire list of directors presented to the shareholders. Accordingly, the Company’s Board of Directors is made up of the four people elected at the annual meeting.

Name                  For     Withheld
Brian D. Edgar     10,829,832 379,569
Timothy T. Barry   10,827,432 381,969
Daniel J. Kunz     10,830,821 378,580
David T. Underwood 10,833,956 375,445


2. Proposal No. 2 – Ratification and approval of the appointment of the
Smythe LLPchartered professional accountants, as the company’s independent registered public accounting firm for the year ending October 31, 2022.

   For     Against Abstain
15,392,503 20,101  185,820

3. Proposal no. 3 – Approval, in a non-binding advisory capacity, of the compensation of the Company’s appointed executive officers.

   For     Against Abstain
10,531,387 568,766 109,248

4. Proposal No. 4 – Approval and adoption of an amendment to the 2019 Plan to increase the number of ordinary shares of Silver Bull issuable under the 2019 Plan.

   For     Against Abstain
10,442,723 677,334 89,344

5. Proposal no. 5 – Approval of the rights not granted under the 2019 Plan, modified or not.

   For     Against Abstain
10,472,908 637,445 99,048

Item 9.01 Financial statements and supporting documents.

(d) Exhibits.

Exhibit No.   Description
   10.1+        Amendment to the Silver Bull Resources, Inc. 2019 Stock Option and
              Stock Bonus Plan, dated as of April 19, 2022
    104       Cover Page Interactive Data File (formatted as Inline XBRL and
              contained in Exhibit 101).

+ Indicates a management contract or compensatory plan, contract or arrangement.


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