X0306 4 2014-09-04 0 0001031093 SILVER BULL RESOURCES, INC. SVBL 0001500592 Barry Timothy T. C/O SILVER BULL RESOURCES, INC. 925 WEST GEORGIA STREET, SUITE 1908 VANCOUVER A1 V6C 3L2 BRITISH COLUMBIA, CANADA 1 1 0 0 President & CEO Stock Option (Right to Buy) 0.26 2014-09-04 4 A 0 700000 0 A 2014-09-04 2019-09-03 Common Stock 700000 700000 D Options were granted on September 4, 2014 pursuant to Silver Bull Resources, Inc.'s 2010 Stock Option Plan, as amended. This option to purchase common stock vests in three (3) annual installments of 233,333, 233,333 and 233,334. The first installment vests on the date of grant; the second installment vests on September 4, 2015; and the third installment vests on September 4, 2016. /s/ Timothy T. Barry 2014-09-04