Bunker Hill Mining Corp. (TSX-V:BNKR | OTCQB:BHLL) announces that it has closed the second 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$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 releases dated June 7, 2024, and August 8, 2024, MM 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 number of US dollars equal to, as of August 8, 2024, 609,805 ounces of silver. In connection with the First Tranche, the Company also issued 1,280,591 non-transferable bonus share purchase warrants to MM as consideration for the First Tranche.

In connection with closing of this Second Tranche, the Company will, subject to prior approval of the TSX Venture Exchange, issue a total of 400,000 Warrants to MM. Each Tranche 2 Warrant will entitle the holder to acquire one share of common stock of the Company at an exercise price of C$0.16, being the last closing price of the Company’s common stock prior to the date hereof. The Tranche 2 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 Tranche 2 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.

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. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR+ and EDGAR databases.