HIGHLIGHTS:

• Shallow, high-grade zinc mineralization encountered in 26.1 meters drilled in Hole 7055:
  –  2.4m recovered (of 6.9m drilled) at 16.9% Zn, 38.4 g/t Ag and 2.8% Pb representing 20.2% Zn Eq
  –  Mineralization is located in the upper levels of the mine and outside the current resource boundary
  –  19.2m at 3.5% Zn, 21.3 g/t Ag and 1.6% Pb representing 5.3% Zn EqExpected to increase the resource base for the initial stage of mining in the PEA
• Drilling focused on resource expansion for the PEA to support the rapid restart program is now complete
• Ongoing drilling is now being directed to high grade silver exploration. The program for 2021 currently envisages 10,000-12,000 meters of drilling
• The PEA remains on track for completion in early Q2-2021

Bunker Hill Mining Corporation (CSE: BNKR) is pleased to report that it has intercepted strong zinc mineralization over significant widths in the upper levels of the Bunker Hill Mine. These intercepts in hole 7055 are above the water level and in close proximity to existing infrastructure. They are also outside the current resource boundary, and as such are expected to increase the resource base for the Preliminary Economic Assessment  which remains on track for completion in early Q2-2021.

Sam Ash, CEO of Bunker Hill Mining, stated: “We are encouraged by the continued progress of our drill program, and in particular this shallow, high-grade result which will support the PEA we are completing. Our strategy is yielding results, with a dual focus on rapidly restarting the Bunker Hill Mine while concurrently exploring its significant high grade silver potential. Over the coming weeks we look forward to publishing further drill results in this regard.”

All of the remaining drilling program for 2021 will now be focused on exploring high-grade silver targets in the upper levels of the mine. Drilling is complete for the campaign focused on delivering a rapid and phased restart of the mine, to be contemplated in the PEA. The 2021 drilling program, currently envisaged to be 10,000-12,000 meters in total, is being informed by the recently completed 3D geologic model which leverages historical mine data collected over a 95-year period. Data has been input from over 180,000 meters of drilling from 3,500 historic drill-holes and hundreds of detailed historic mine geology maps capturing all major faults and veins, alterations, mineralization and stratigraphy. A video summarizing the digitization process can be viewed at the following link https://youtu.be/8X3FrWfbGl4?t=229. In addition, further information is available on our newly launched website.

Figure 1: Zinc Intercept Drilling Exploration – Cross Section

https://www.globenewswire.com/NewsRoom/AttachmentNg/98d6c8f1-f9a1-4d42-817f-b3abea366167

Figure 2: Silver Intercept Drilling Exploration – Cross Section

https://www.globenewswire.com/NewsRoom/AttachmentNg/faa438c8-ad02-49d2-b272-8fee210f9423

Recent drill results are presented in the tables below.

SIGNIFICANT ZINC INTERCEPTS

ZnEq – Hole 7055

An intercept of high-grade zinc was intersected while drilling through a fault on the 05-2 level in the UTZ. Due to poor recovery throughout the faulted portion and for QA/QC purposes, the company chose to report assay results based only on recovered footage. Drilled footage is NOT the reported width of the intercept. Numbers in the above table are based on the 2.4 M of recovered material instead of the 6.9 M drilled.

SIGNIFICANT SILVER INTERCEPTS

AgEq – Hole 7047

AgEq – Hole 7056

AgEq – Hole 7057

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

Technical Information

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 to delivery of the samples to the assay lab. The drill core was stored in a secure facility, photographed, logged 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.

ALS Global was used to provide analytical services and all results comply with both NI 43-101 and industry standards. ALS Global holds an industry standard ISO 17025 accreditation, specifying general requirements for laboratory performance.

The Company advises that it does not propose to base its production decision on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved. The Company further cautions that a PEA is preliminary in nature. No mining study has been completed. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that the PEA will be realized.

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 at the Qualified Person for the Company. He has reviewed and approved the technical information summarized in this news release.

About Bunker Hill Mining Corp.

Bunker Hill Mining Corp. has an option to acquire 100% of all saleable assets at the Bunker Hill Mine. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases.