Bunker Hill Mining Corp. (TSX-V:BNKR) (OTCQB:BHLL) announces that it has closed the fifth tranche of the previously announced silver loan with Monetary Metals Bond III LLC, an entity established by Monetary Metals & Co. in the principal amount of US$1,478,847, being the amount of US dollars equal to 50,198 ounces of silver as of the date such amount was advanced to the LLC.

Sam Ash, President and CEO, said: “While most of the market has been taking its holiday, Bunker Hill has completed another tranche of finance with its partner Monetary Metals, LLC, enabling critical project and resource upgrade activity to advance concurrently with our ongoing corporate financing discussions.”

Fifth Tranche of Silver Loan

As further described in the news releases dated June 7, 2024 and August 8, 2024, MM, through the LLC, has agreed to loan the Company a principal amount of US dollars equal to up to 1.2 million ounces of silver to be advanced in one or more tranches, in support of the re-start and ongoing development of the Bunker Hill Mine. On August 8, 2024, the Company closed on the first tranche of the Silver Loan in the principal amount of US$16,422,039, being the amount of US dollars equal to, as of August 8, 2024, 609,805 ounces of silver and on September 24, 2024, the Company closed on the second tranche of the Silver Loan in the principal amount of US$6,369,000, being the amount of US dollars equal to, as of September 24, 2024, 200,000 ounces of silver. As described in the news release dated November 6, 2024, an additional principal amount of US$6,321,112, the amount of US dollars equal to, as of November 6, 2024, 198,777 ounces of silver, was advanced in connection with the Silver Loan. As described in the news release dated November 13, 2024, an additional principal amount US$1,250,000, being the amount of US dollars equal to, as of the date such amount was advanced to the LLC, 39,620 ounces of silver, was advanced in connection with the Silver Loan.

As further described in the news releases dated August 8, 2024, September 25, 2024 and November 13, 2024, the Company has issued to MM: (i) 1,280,591 non-transferable bonus share purchase warrants in connection with First Tranche; and (ii) 400,000 Warrants in connection with the Second Tranche; and (iii) an aggregate 476,793 Warrants in connection with the Third and Fourth Tranche. In connection with the Fifth Tranche, the Company will, subject to prior approval of the TSX Venture Exchange, issue a total of 100,397 Warrants to MM. Each Bonus Warrant will entitle the holder to acquire one share of common stock of the Company at an exercise price of C$0.15, being the last closing price of the Company’s common stock prior to the date of issuance of the Bonus Warrants. The Bonus Warrants will be exercisable until August 8, 2027, subject to acceleration in accordance with the policies of the TSX-V and will be subject to a hold period of four months and one day from the issuance of the Bonus Warrants in accordance with applicable securities laws. The issuance of Warrant Shares is subject to the terms and conditions of the Warrants as well as the receipt of all regulatory approvals, including, without limitation, the approval of the TSX-V.

The securities referenced herein or any securities underlying or derived from the financial instruments referenced herein, including but not limited to the Warrants, the Warrant Shares, and the Silver Loan, have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”). This news release does not constitute an offer to sell or the solicitation of an offer to buy such securities, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Project Update Photographs

Procurement is 98% complete (equipment ordered, on-site or final contract signed), and activity continues on track for an H1 2025 restart of operations. Concurrent with the refurbishment of the underground access ramp between the 7-2 and 8-2 Levels, the team is working to complete the installation of the various mezzanine floors within the processing plant, the conveyor systems, and the installation of piping and electrical equipment.

Figure 1: Installation of mezzanine access floors within the concentrator building

 Figure 2: Conveyor infrastructure installed to feed the concentrate load-out facility

 Figure 3: Completed main filtration tank on site of the tailings filter press in Kellogg yard

ABOUT BUNKER HILL MINING CORP.

Under Idaho-based leadership, Bunker Hill intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating and then optimizing several mining assets into a high-value portfolio of operations centered initially in North America.