Bunker Hill Mining Corp. (TSX-V:BNKR) (OTCQB:BHLL) announces that it has closed the fourth 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$1,250,000, being the amount of US dollars equal to 39,619.6513 ounces of silver as of the date such amount was advanced to the LLC.

President and CEO Sam Ash stated, “Thanks to the backing of our valued partners, notably Monetary Metals and the exceptional Silver Valley community, we are making steady progress on the new Bunker Hill mine. Our ongoing drill campaign has revealed promising opportunities, allowing us to refine our restart plan for the first half of 2025. This optimization ensures we are well-positioned to maximize the mine’s potential upon reopening.”

Construction of the concentrator nears completion, with approximately 98% of its components on site ready for installation. The concrete foundations of the tailings filter press are being set, and the construction of the tails thickener tanks has started. Bunker Hill continues to advance the underground drilling required to inform an updated resource statement in the first quarter of 2025.

Concurrently, the company is preparing to start a new drill program focused on the high-grade silver target in the upper level of the mine described in the news release dated October 22, 2024, while also conducting the preliminary work required to unlock the US EXIM finance in the second half of 2025.

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 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 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 198,777 ounces of silver, was advanced in connection with the Silver Loan.

As further described in the news releases dated August 8, 2024 and September 25, 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. In connection with the Third Tranche and the Fourth Tranche, the Company will, subject to prior approval of the TSX Venture Exchange, issue a total of 476,793 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$0.12, being equal to the last closing price of the Company’s common stock. 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 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.

ABOUT BUNKER HILL MINING CORP.

Bunker Hill Mining Corp., under the guidance of its Idaho-based leadership team, is embarking on a strategic initiative to revitalize and develop the Bunker Hill Mine. This endeavor represents the initial phase of a comprehensive plan to consolidate and optimize multiple mining assets and create a high-value operational portfolio primarily focused in North America.