Bunker Hill Mining Corp. (CSE: BNKR) (OTCQB: BHLL) is pleased to announce a new loan facility from Sprott Private Resource Streaming & Royalty Corp. and provide an update regarding ongoing efforts to fully finance the Bunker Hill mine restart including securing the advance of the $37,000,000 multi-metals stream from Sprott Streaming, and up to $15,000,000 of concentrate offtake financing.

NEW $5,000,000 FACILITY WITH SPROTT STREAMING AND STREAM FINANCING UPDATE

The Company is pleased to announce that it has received investment committee approval from Sprott Streaming for a new $5,000,000 loan facility. The Facility will be utilized for the payment of $3,500,000 to the Environmental Protection Agency for currently outstanding water treatment services for the 2019-2021 period, $560,000 to the Idaho Department of Environmental Quality for monthly water treatment payments to be made from November 2022 through February 2023, and $940,000 for project costs and working capital.

The Facility will be secured by the security package currently in place between the parties, will bear interest at a rate of 10.5% per annum, and will mature at the earlier of (i) the advance of the Stream, or (ii) June 30, 2024. In addition, the minimum quantity of metal delivered under the Stream, if advanced, will increase by 5% relative to amounts previously announced. The advance of the Facility is conditional on the completion of definitive documentation for the Facility and the launch of an equity financing by the Company.

Concurrently, the Company is finalizing discussions with Sprott Streaming regarding the advance of the Stream. Following satisfactory conclusion of definitive documentation relating to the Stream, full project funding for the Bunker Hill mine restart and certain other conditions precedent, the Company expects the advance of the Stream to take place in the first quarter of 2023.

CONCENTRATE OFFTAKE FINANCING DISCUSSIONS

The Company is also pleased to report that it is in discussions with Teck Resources Limited (“Teck”), as holder of the exclusive option to acquire 100% of zinc and lead concentrate produced in the first 5 years at the Bunker Hill Mine, and Sprott Streaming, to facilitate the potential provision of concentrate offtake financing from third parties as the final tranche of capital to finance the Bunker Hill mine restart, alongside the Stream and equity financing. The Company is evaluating several non-binding term sheets from metals traders envisaging the provision of up to $15 million of offtake finance.

MINE RESTART PROJECT REMAINS ON TRACK

As described in the Company’s news releases of November 3, 2022 and September 20, 2022, the mine restart project is on track to achieve several key milestones by the end of 2022, including the abatement and demolition of the existing maintenance building, the completion of the underground decline connecting the 5 and 6 levels within the upper parts of the mine, and completion of the purchase of the ball mill capable of increasing annual production throughput to 2,100 tons per day, subject to future detailed engineering and mine planning.

QUALIFIED PERSON

Mr. Scott E. Wilson, CPG, President of RDA and a consultant to the Company, is an independent “qualified person” as defined by NI 43-101 and is acting as the qualified person for the Company. He has reviewed and approved the technical information summarized in this news release.

ABOUT BUNKER HILL MINING CORP.

Under new Idaho-based leadership the Bunker Hill Mining Corp, intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American mining assets with a focus on silver.