HIGHLIGHTS:

• Ten separate high-grade silver mineralization results greater than 900 g/t AgEq¹, each with minimum 0.6m length, identified through targeted chip-channel sampling in newly accessible part of 9-level Deadwood vein
  • Best selected chip sample includes 0.6m at 1,100 g/t Ag and 60% Pb, representing 3,002.6 g/t AgEq¹
  • Mineralization remains open up dip, down dip and along strike from the sampling location
  • Follow-up diamond drilling is planned to test the extent of the Deadwood vein and nearby Jersey vein
• High-grade silver, lead and zinc mineralization, including 3.8m at 197 g/t Ag, 21.2% Pb and 2.7% Zn, representing 996.6 g/t AgEq¹, intersected at down-dip extension of the UTZ zone at the 5-level
• Executive Chairman Richard Williams, CEO Sam Ash, and CFO David Wiens to host live interactive 6ix virtual investor event on Wednesday, March 31st at 11:00AM ET / 8:00AM PT to discuss these results, ongoing silver exploration and other near-term catalysts. Investors are invited to register for this event at: LINK

Bunker Hill Mining Corp. (CSE: BNKR) is pleased to report multiple high-grade silver mineralization results as part of its ongoing silver-focused drilling program, and through chip-channel sampling of newly accessible areas of the Bunker Hill Mine identified through the Company’s proprietary 3D digitization program.

Sam Ash, CEO of Bunker Hill, stated: “Having completed the drilling campaign designed to support the mine restart plan and associated PEA, we have now shifted our drilling and sampling focus to high-grade silver exploration in order to bring more silver into our upper mine resources and future mine planning.

Today’s results confirm high grade silver mineralization in two distinct areas of the upper mine close to existing infrastructure. Firstly, we have confirmed the silver potential of the Deadwood vein through ten separate high-grade channel samples. Secondly, our systematic targeting methodology allowed us to confirm the presence of high-grade silver mineralization on the 5-level through drilling, within an area where no historical mining was conducted. Both of these areas, along with others, will be followed up and developed over the coming weeks.”

Channel Sampling at the 9-Level Results in Ten Separate High-Grade Silver Mineralization Results

As a result of the digitization of the historic mine data and underground reconnaissance, an area was identified on the 9-level with access to the Deadwood vein: a shallow dipping galena-quartz (“GQ”) silver-lead vein that was mined until mine closure. The vein is exposed in the footwall rib of an historic stope over roughly 35 feet horizontally, with the thickness of mineralized exposure ranging from roughly 1 to 2 meters. Chip samples were collected from 10 vertical channels on the footwall rib designed to approximately crosscut the strike of the vein. See Figure 1 showing the sample distribution and resulting grades.

Digitization and reconnaissance efforts indicate that silver-lead mineralization from the Deadwood vein remains open to testing up-dip, down dip and along strike to the west. Follow up diamond drilling is planned to test the extent of the Deadwood vein and nearby Jersey vein, another historically mined GQ silver-lead vein on the 9 Level of the mine.

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¹ Prices used to calculate Ag Eq are as follows: Zn=$1.16/lb; Pb=$0.92/lb; and Ag=$20/oz.

Figure 1: 090-23-21 Deadwood Vein Stope – Floor 4 Footwall Rib Channel Samples

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Channel sample assays results are presented in the Table 1 below.

TABLE 1: CHANNEL SAMPLE ASSAYS

(Reported widths are actual sampled interval lengths and do not state the true width of the mineralized structure. Samples were taken in a manner to reflect, as closely as possible, true structural width. Prices used to calculate AgEq are as follows: Zn=$1.16/lb; Pb=$0.92/lb; and Ag=$20/oz.)

Drilling at the 5-Level Results in Nearly 4-Meter Intercept at Approximately 1,000 g/t AgEq

Concurrently, drilling from the 5-level UTZ intersected high-grade silver-lead-zinc mineralization below the UTZ fingers zone, as part of exploring for near-surface silver targets. The Company is excited to report a 3.8m intercept with a grade of 996.6 g/t AgEq, as indicated in Table 2 below. Intercepted mineralization in hole 7069 (see Figure 2 below showing cross-section and Figure 3 below showing drill core) lies near existing rehabilitated infrastructure, providing low-cost access to the zone for mining under Bunker Hill’s Phase 1 program of the Rapid Restart Plan. Follow up drilling will explore the extent of the mineralization and increase the understanding of the geology in the area.

The drill results in the table below represent the most recent assay data available since the Company’s news release dated February 26, 2021; the Company will continue to report mineralized drill intercepts concurrent with its ongoing exploration program that is currently envisaged to comprise 10,000 to 12,000 feet in 2021.

TABLE 2: HIGH-GRADE SILVER INTERCEPT FROM HOLE 7069

(Reported widths are intercepted ore lengths and not true widths, as relationships with intercepted structures and contacts vary. Prices used to calculate AgEq are as follows: Zn=$1.16/lb, Pb=$0.92/lb, Ag=$20/oz.)

Figure 2: Cross section of hole 7069

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Figure 3: Drill Core from hole 7069

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The preliminary economic assessment aimed at assessing the mine’s rapid restart potential, remains on track to be published in early Q2 2021.

TECHNICAL INFORMATION

Chip-channel samples were collected by hand using hammer and chisel perpendicularly across exposed mineralized structures to best represent the true width and nature of the material present. Sample collar locations were surveyed using modern survey techniques to provide positioning of each sample in three-dimensional space. Bunker Hill followed standard quality assurance/quality control (“QA/QC”) practices to ensure the integrity of samples through collection, preparation and delivery of samples to the lab. All sample locations have been photographed, with channel traces spray painted to indicate the location and orientation of each sample. Standards of certified reference materials, field duplicates and blanks were inserted as samples shipped with the chip samples to the lab.

The diamond drilling program used HQ-size core. Bunker Hill followed standard QA/QC practices to ensure the integrity of the core and sample preparation through delivery of the samples to the assay lab. The drill core was stored in a secure facility, photographed, logged, split into halves and sampled based on lithologic and mineralogical interpretations. Standards of certified reference materials, field duplicates and blanks were inserted as samples shipped with the core samples to the lab.

American Analytical Services was used to provide analytical services and all results comply with both National Instrument 43-101 – Standards of Disclosure for Mineral Projects and industry standards. AAS holds an industry standard ISO 17025:2005 accreditation, specifying general requirements for laboratory performance. AAS is independent from Bunker Hill.

QUALIFIED PERSON

Mr. Scott E. Wilson, CPG, President of Resource Development Associates Inc. 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, 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 precious-metal assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com, or under the Company’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.