September 20th, 2023 – Bullet Exploration Inc. (the “Company”) (TSXV: AMMO) announces that, further to the Company’s news release dated August 28, 2023, the Company will consolidate its common shares (the “Shares”) on the basis of three (3) pre-consolidation Shares for one (1) post-consolidation Share of the Company (the “Consolidation”).

The Company’s post Consolidation Shares are expected to begin trading on the TSX Venture
Exchange on September 22, 2023. The name of the Company and trading symbol will remain the
same after the Consolidation. The new CUSIP number will be 12023A204 and the new ISIN number
will be CA12023A2048 for post Consolidation.

The Consolidation will result in the number of issued and outstanding Shares being reduced from
21,416,465 to 7,138,822 Shares. Any fractional Shares resulting from the Consolidation will be
rounded to the nearest whole Share, with any fraction of 0.5 or above rounded up and any fraction of less
than 0.5 will be rounded down.

A letter of transmittal will be mailed to registered shareholders by the Company’s transfer agent,
Computershare Investor Services Inc. The letter of transmittal contains instructions on how
registered shareholders can exchange their share certificates evidencing their pre-consolidation
shares for new share certificates representing the number of post-consolidation shares to which they
are entitled. Beneficial shareholders holding their shares through a brokerage may be subject to
different procedures for obtaining their post-consolidation shares. If shareholders have any questions
in this regard, they are encouraged to contact their respective brokerage or intermediary.

For Further information, please contact:
Anthony Zelen
Chief Executive Officer
T: 778-388-5258

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

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