Bunker Hill Mining adds $6M debt, lifts Cate-8 target
BHLL boosts liquidity with US$6 million of high-cost draws and reports higher-grade, larger Cate‑8 exploration target near its Idaho mine.
Rhea-AI Filing Summary
Bunker Hill Mining Corp. (BHLL) has increased its available liquidity by drawing an additional US$2.0 million on August 28, 2026 under its uncommitted Teck standby prepayment facility and US$4.0 million on September 1, 2026 under its concentrate prepayment facility with Ocean Partners UK Limited. The Teck facility now has US$8.0 million outstanding out of an aggregate maximum of US$10.0 million, bears interest at 13.5% per year to June 30, 2027 and 15.0% thereafter, and is repayable on demand with first-ranking security over substantially all obligor assets. The Ocean Partners facility provides up to US$10.0 million, with the first US$4.0 million draw bearing interest at 7.0% per year plus three‑month SOFR. Proceeds support working capital and the ramp‑up of the Bunker Hill Mine toward expected full commercial production by the end of 2026.
Separately, new underground drilling at the Cate‑8 zone returned high silver‑equivalent grades, including intervals up to 24.43 oz/ton AgEq, and an updated Cate‑8 Target Model at a 50 g/t AgEq cutoff shows 522,178 tons at 183.20 g/t AgEq, or 2,790,141 silver‑equivalent ounces, with the company noting a 55% tonnage increase and 34% AgEq ounce increase versus prior conceptual estimates.
Positive
- US$6.0 million of new debt draws (Teck and Ocean Partners) provide near-term working capital to support mine ramp-up and operations toward targeted full commercial production by the end of 2026.
- Updated Cate‑8 Target Model shows stronger exploration potential, with tonnage up 55% and silver‑equivalent ounces up 34% at a 50 g/t AgEq cutoff, totalling 522,178 tons and 2,790,141 oz AgEq near existing infrastructure.
Negative
- Incremental borrowing is expensive and secured, with Teck facility interest of 13.5% rising to 15.0% per year plus up to 3.0% default premium and a first-ranking security interest over substantially all obligor assets.
- The Ocean Partners prepayment facility adds leverage at a floating rate of 7.0% per year plus three‑month SOFR, with an additional 3.0% default margin, increasing exposure to both interest-rate and operational performance risk.
Filing Explained
The disclosed draws add borrowing, including US$8 million owed to Teck and secured by assets, repayable on demand.
This Form 8-K records two completed facility draws:
The Teck balance outstanding is now
The press release says the company expects to draw the remaining
As of
Sources and calculations
- Bunker Hill Mining Corp. Form 8-K, including Exhibit 99.1 (2026-09-03)
- Form 8-K purpose (2026-07-17)
- Bunker Hill Mining Corp. latest quarterly fundamentals (2026Q4)
- Available liquidity against the last reported quarterly operating outflow, in days at that rate $6,657,131 / ($11,865,318 / 91) = 51.1 days
8-K Event Classification
Key Figures
Key Terms
standby prepayment facility financial
concentrate prepayment facility financial
silver-equivalent financial
NI 43-101 regulatory
Qualified Person regulatory
secured overnight financing rate financial
FAQ
What new debt did Bunker Hill Mining Corp. (BHLL) incur in this 8-K?
What are the key terms of BHLL’s Teck standby prepayment facility?
What interest rate applies to Bunker Hill’s Ocean Partners facility?
How large is the updated Cate-8 Target Model for BHLL?
What notable drill results did BHLL report from Cate-8 in this filing?
When does BHLL expect full commercial production at the Bunker Hill Mine?
How much capacity remains under BHLL’s key credit facilities after these draws?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
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| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Teck Facility Draw
On August 28, 2026, Bunker Hill Mining Corp. (the “Company”) drew an additional US$2.0 million under its uncommitted demand revolving standby prepayment facility established pursuant to the Standby Prepayment Facility Agreement, dated as of June 5, 2025 (the “Facility”), by and among the Company, Silver Valley Metals Corp. (together with its successors and permitted assigns, “SV Borrower”), and Teck Metals Ltd. (the “Lender”). Following the draw on August 28, 2026, the total draw on the Teck Facility outstanding is US$8.0 million. The proceeds from the drawdown will be used to support working capital requirements and ongoing operational activities as the Company advances toward full commercial production.
As previously disclosed in the Company’s Form 8-K as filed on June 11, 2025, the Facility permits revolving draws up to an aggregate maximum principal amount of US$10.0 million and is uncommitted and repayable on demand. The availability period ends on the earliest of (i) June 30, 2028, (ii) the date on which the project reaches 90% of nameplate capacity, and (iii) termination of the facility by the Lender, in each case subject to the terms and conditions therein. Amounts repaid may be reborrowed during the availability period, and each advance must be at least US$500,000. Amounts drawn bear interest at 13.5% per annum from their funding date to June 30, 2027, and a rate equal 15.0% per annum thereafter, subject to automatic increases. Interest is calculated on a 360-day year and capitalized quarterly in arrears. Upon an event of default, default interest accrues at the applicable rate plus 3.0% per annum.
The Company’s obligations under the Facility are secured by a first-ranking security interest over substantially all property and assets of the obligors, subject to permitted liens.
The foregoing description of the material terms of the Facility is qualified in its entirety by reference to the Standby Prepayment Facility Agreement, dated June 5, 2025, which was filed as Exhibit 10.34 to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on June 27, 2025 and the description of the Facility contained in the Company’s 8-K as filed on June 11, 2025, which is incorporated herein by reference.
Ocean Partners Facility Draw
On September 1, 2026, the Company drew US$4.0 million under its Prepayment Agreement (the “Prepayment Agreement”) by and among the Company, SV Borrower and Ocean Partners UK Limited (“Ocean Partners”) pursuant to which Ocean Partners agreed to provide the Company with a concentrate prepayment facility of up to US$10.0 million (the “Ocean Partners Facility”). This is the first draw under the Ocean Partners Facility. The proceeds from the drawdown will be used for working capital at the Bunker Hill Mine in Idaho.
As previously disclosed in the Company’s Form 8-K as filed on August 25, 2026, the amounts outstanding under the Ocean Partners Facility bear interest at a rate equal to 7.0% per annum plus the three-month secured overnight financing rate as published by the CME Group, representing the forward-looking cost of borrowing cash overnight collateralized by U.S. Treasury securities, as determined based on actual transactions in the repurchase agreement market. Interest accrues daily and is payable monthly in arrears on the first business day of the next month. During an event of default, the applicable interest rate increases by an additional 3.0% per annum computed on the basis of a 360 day year. Interest is payable at the option of the Borrower by either (i) setoff against any payments owed against concentrates or (ii) in cash.
The foregoing description of the material terms of the Ocean Partners Facility is qualified in its entirety by reference to the Prepayment Agreement, dated August 20, 2026, which was filed as Exhibit 10.1 to the Company’s Form 8-K filed with the Securities and Exchange Commission on August 25, 2026 and the description of the Ocean Partners Facility contained in the Company’s Form 8-K as filed on August 25, 2026, which is incorporated herein by reference.
Item 7.01 Regulation FD.
On August 31, 2026, the Company issued a press release discussing its draw from the Facility.
A copy of the press release is attached to this report as Exhibit 99.1. In accordance with General Instruction B.2 of Form 8-K, the information set forth herein and in the press release is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information set forth in Item 7.01 of this report shall not be deemed an admission as to the materiality of any information in this report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
Item 9.01 Exhibits.
Exhibit Number |
Description | |
| 99.1 | Press Release dated August 31, 2026 | |
| 104 | Cover Page Interactive Data File-the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
SIGNATURES
In accordance with the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| BUNKER HILL MINING CORP. | ||
| DATE: September 3, 2026 | By: | /s/ Sam Ash |
| Sam Ash | ||
| President and Chief Executive Officer | ||
Exhibit 99.1
BUNKER HILL INTERSECTS ADDITIONAL HIGH-GRADE SILVER IN THE CATE-8 VEIN;
INDIVIDUAL DRILL SAMPLES TO 16.3 OZ/TON SILVER, 41.1% LEAD, 7.41% ZINC;
UNDERGROUND CHANNEL SAMPLING RETURNS 46 FEET OF 8.19 % LEAD, 2.49 OZ/TON SILVER, 1.18% ZINC (4.83 OZ/TON AgEq)
(14.03 M AT 166 G/T AgEq)
KELLOGG, IDAHO | VANCOUVER, BRITISH COLUMBIA — August 31, 2026 — Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX: BNKR | OTCQB: BHLL) is pleased to announce additional assay results from its ongoing underground exploration drilling program in the Bunker Hill Mine (the “Bunker Hill Mine”), with combined silver-equivalent metal grades up to 24.43 oz/ton or 837.74 g/t AgEq, see below for calculations (41.1% lead, 13.8 oz/ton silver, 2.86% zinc).
The latest drill results continue to confirm the continuity and scale of high-grade silver-polymetallic mineralization at the recently discovered Cate-8 zone while supporting the Company’s objective of completing an initial resource estimate for Cate-8 by the end of the year.
HIGHLIGHTS
| ● | New silver-lead-zinc drill intercepts continue to expand the Cate-8 mineralized system to over 1100 feet along strike and 1250 feet downdip |
| ● | BHD26-17: 12.5 feet at 2.94 oz/ton Ag, 3.2% Pb (3.75 oz/ton AgEq), including 7 feet at 4.75 oz/ton Ag, 4.4% Pb (5.82 oz/ton AgEq) |
| ● | BHP26-24: 3.2 feet at 4.19 oz/ton Ag, 10.6% Pb (6.78 oz/ton AgEq), including 0.7 feet at 15.7 oz/ton Ag, 33.7% Pb and 1.1% Zn (23.89 oz/ton AgEq) |
| ● | Channel sampling from a recently completed underground drift on the Cate-8 zone cut 46 ft of continuous lead - silver mineralization. |
| ● | Cate-8 Exploration Target Estimate shows 55% growth in tonnage and a 34% increase in contained silver-equivalent ounces from the prior calculation (July 15, 2026, Bunker Hill Mining news release) |
| ● | At a cut-off grade of 50 g/t AgEq, the current Cate-8 Target model includes 522k tons at a grade of 5.34 oz/ton AgEq for 2.79M ounces of silver equivalent metal (see details below) |
“These are some truly spectacular intercepts from Cate-8 and continue to demonstrate the tremendous exploration upside that exists immediately adjacent to our existing operation,” said Sam Bourque, Chief Geologist. “From an exploration perspective, to have a target go from discovery drill hole to sampling the vein underground in four months’ time is about as exciting as it gets. The consistent geometry, thickness, and grades we’re seeing in the 9-1 Level crosscut continue to strengthen our confidence in the Cate-8 system while supporting rapid advancement toward an initial resource estimate.”
The Company has also drawn an additional US$2,000,000 from its standby credit facility (“Standby Facility”) with Teck Metals Ltd. (“Teck”), providing additional financial flexibility as commissioning activities progress at the Bunker Hill Mine.
BUILDING TOWARD NEAR-TERM RESOURCE GROWTH
The current drilling program is designed to expand the mineralized footprint and increase drill density across the Cate-8 using spacing consistent with the Company’s current Measured and Indicated resource, sufficient for a future Measured and Indicated level resource estimate across the full up-dip projection of the target between the 7 and 9.5 Levels (Figure 3).
33 core holes totalling 11,700 feet have been completed from the 8 Level drill station since April 18, 2026, up from only six drill holes in the initial exploration plans, due to continued encouraging results (Figure 1 below). The underground drill rig is currently moving up to the 7-3 Level of the Mine, where an additional 3,500 feet of drilling is planned in five holes to provide full coverage of up-dip potential, and infill at more ideal intercept angles to the structure than holes drilled from the 8 Level to assist with metallurgical testing, geologic modeling and resource estimation (Figure 2).
SUPPORTING FUTURE MINE PLANNING
As part of evolving the Cate-8 Exploration Target Estimate (the “Target Estimate, Cate-8 Target”), the technical team is utilizing the same block model and estimation methodology that will underpin the forthcoming resource estimate. Ongoing modeling of the Cate-8 Target supports the concept of a mineralized zone adjacent to current mine development, outside of known resources, with sufficient grades and thickness to be incorporated into near-term mine plans with continued successful exploration results. The Cate-8 Target was recalculated using new drill intercepts across a range of theoretical cut-off grades and shows a 55% increase in tonnages and a 34% increase in silver-equivalent ounces compared to previous estimates at a 50 g/t AgEq cutoff grade (details listed below; see July 15, 2026 news release for previous estimates).
At a cut-off grade of 50 g/t AgEq, the current Cate-8 Target model (the “Cate-8 Target Model”) includes 522k tons at a grade of 5.34 oz/ton AgEq for 2.79M ounces of silver equivalent metal (details in Table 1 below) Located adjacent to existing underground infrastructure, Cate-8 represents a compelling opportunity to leverage existing mine development while expanding the Company’s long-term production potential. Consequently, Bunker Hill is evaluating options to access and extract the mineralization from existing mine workings for potential incorporation in the short-term production profile (Figure 7 below).
This conceptual planning is forward-looking; no mineral resource estimate exists for the Cate-8 Target; there is no guarantee that economic mineralization for these mining methods will be identified in the Cate-8 Target Model through further drilling and resource estimation; and no production decisions have been made based on the Target Model Estimate.
Sam Bourque states, “We are focused on unlocking the full potential of the Bunker Hill mineral system by testing proven geologic concepts with cutting-edge technology and methods. Prior geologists supplied a wealth of detailed structural and stratigraphic studies and concepts before the mine shut down in 1981; we are the first group to place these concepts and the underlying data into modern 3D geologic models. Known post-mineral fault offsets, vein patterns, and distribution strongly suggest that, even after 90 years of continuous work, mining has tested only approximately one quarter of the original mineralized system, which remains open for expansion. By targeting high-grade silver mineralization both adjacent to existing workings like the Cate-8 Target, and across our broader land package as at the Page project, we’re not only increasing geological confidence for near-term mine planning but also identifying opportunities to potentially expand resources, extend mine life and enhance the long-term value of our broader land package.”
SUMMARY OF NEW DRILL RESULTS
Table 1: Significant intercepts in recent underground drillholes at the Cate-8 Target
| HoleID | From | To | Length ft | Length m | Zn % | Pb % | Ag opt | Ag g/t | AgEq g/t | AgEq oz/t | ||||||||||||||||||||||||||||||
| BHD26-17 | 317.5 | 330 | 12.5 | 3.81 | 0.20 | 3.17 | 2.94 | 100.77 | 128.65 | 3.75 | ||||||||||||||||||||||||||||||
| including | 323 | 330 | 7 | 2.13 | 0.12 | 4.36 | 4.75 | 162.96 | 199.40 | 5.82 | ||||||||||||||||||||||||||||||
| BHD26-18 | No Significant Intercepts | |||||||||||||||||||||||||||||||||||||||
| BHP26-19 | 203 | 208 | 5 | 1.52 | 5.93 | 1.88 | 1.03 | 35.31 | 125.41 | 3.66 | ||||||||||||||||||||||||||||||
| 237.5 | 240.5 | 3 | 0.91 | 0.10 | 5.93 | 3.15 | 108.14 | 156.83 | 4.57 | |||||||||||||||||||||||||||||||
| BHD26-20 | No Significant Intercepts | |||||||||||||||||||||||||||||||||||||||
| BHP26-21 | 158.7 | 167.5 | 8.8 | 2.68 | 1.69 | 4.08 | 1.58 | 54.24 | 108.24 | 3.16 | ||||||||||||||||||||||||||||||
| 226.8 | 237.6 | 10.8 | 3.29 | 0.08 | 2.07 | 0.99 | 33.46 | 50.99 | 1.49 | |||||||||||||||||||||||||||||||
| Including | 226.8 | 227.4 | 0.6 | 0.18 | 0.01 | 27.80 | 11.10 | 380.57 | 602.79 | 17.58 | ||||||||||||||||||||||||||||||
| 236.5 | 237.6 | 1.1 | 0.34 | 0.44 | 3.28 | 2.71 | 92.91 | 124.72 | 3.64 | |||||||||||||||||||||||||||||||
| BHP26-22 | 320.5 | 326.7 | 6.2 | 1.89 | 0.99 | 3.44 | 1.11 | 37.94 | 77.94 | 2.27 | ||||||||||||||||||||||||||||||
| 337.3 | 343 | 5.7 | 1.74 | 0.43 | 3.53 | 1.09 | 37.51 | 71.10 | 2.07 | |||||||||||||||||||||||||||||||
| 355.4 | 368 | 12.6 | 3.84 | 0.88 | 2.85 | 1.02 | 34.95 | 68.88 | 2.01 | |||||||||||||||||||||||||||||||
| including | 362.2 | 365.2 | 3 | 0.91 | 1.25 | 6.18 | 2.12 | 72.69 | 137.89 | 4.02 | ||||||||||||||||||||||||||||||
| BHD26-23 | Assays Pending | |||||||||||||||||||||||||||||||||||||||
| BHP26-24 | 202 | 209.8 | 7.8 | 2.38 | 1.50 | 4.44 | 1.65 | 56.64 | 111.12 | 3.24 | ||||||||||||||||||||||||||||||
| 234.2 | 234.9 | 0.7 | 0.21 | 2.86 | 41.10 | 13.80 | 473.14 | 837.74 | 24.43 | |||||||||||||||||||||||||||||||
| 245.8 | 255 | 9.2 | 2.80 | 0.28 | 4.36 | 1.69 | 57.92 | 96.21 | 2.81 | |||||||||||||||||||||||||||||||
| including | 245.8 | 249 | 3.2 | 0.98 | 0.29 | 10.62 | 4.19 | 143.79 | 232.31 | 6.78 | ||||||||||||||||||||||||||||||
| which includes | 245.8 | 246.5 | 0.7 | 0.21 | 1.09 | 33.40 | 15.70 | 538.29 | 818.95 | 23.89 | ||||||||||||||||||||||||||||||
Due to the polymetallic nature of the mineralization, silver-equivalent grades were determined for each sample interval. Silver equivalent grade (AgEq) was calculated using long-term metal price forecasts of US$76.36/troy ounce silver, $0.89/lb lead and $1.41/lb zinc, with recovery rates of 91.6% for silver, 88.6% for lead and 86.8% for zinc (from Bunker Hill Mining 2022 PFS). Using these parameters, the metal equivalent factors are 1% zinc = 12.66 g/t AgEq, and 1% lead = 7.99 g/t AgEq, with total AgEq calculated with the formula:
AgEq g/t=Ag g/t + (Zn% * 12.66) + (Pb% * 7.99)
Notes: Intercepts listed are drilled length; true thickness is unknown from current data and is estimated from 3D modeling at 50-60% of drilled length for BHD26-17, 18, and BHP26-22; 75% for BHP26-20; and 85-95% for BHP26-19, 21 and 24. Core recovery was good (>95%) in mineralized zones for all holes reported here other than BHD26-17 and BHP26-20, which had recovery from 30-50% in rubble zones adjacent to the Cate Fault.
To avoid coarse versus fines bias in rubble zones and expedite sample processing on resource infill holes, whole core sampling was employed on all the holes reported here. Further infill drilling is planned for these zones from more ideal intercept angles from a drill station on the 7 Level. Half of the core will be preserved from these holes for metallurgical work and as reference material for future resource calculations.
Figure 1: Plan View of Cate-8 drilling and channel sampling showing lead values. Current mine workings from 7 to 9 Level shown in black outline; Cate-8 Crosscut is blue outline, 100-foot grid
Figure 2: Cross section of Cate-8 Vein with drill traces and channel samples in new 9-1 Level crosscut showing lead values. View is 700 feet wide, flat at 354 azimuth, section centered on crosscut, grid spacing 100 feet
Figure 3: Isometric view (123 azimuth, -9 dip) of Cate-8 Exploration Target Block Model showing AgEq g/t values, completed holes drilled from the 8 Level and planned holes to be drilled from the 7 Level. Current mine workings shown in black outline, historic workings in grey
Figure 4: Plan view of 9-1 Level Cate-8 Crosscut showing lead values in channel sampling. Note proximity to March Stope on parallel vein structure. 100-foot grid
Figure 5: ~18” thick argentiferous galena-quartz-siderite lens in >30-foot-thick Cate-8 Vein
Figure 6: Silver-lead mineralization in cut core from BHE26-26 (not assayed yet)
Figure 7: Conceptual design of potential extraction strategies for Cate-8 Vein mineralization adjacent to existing underground workings. View flat at 123 azimuth, 700-foot-thick slice, 100-foot vertical grid spacing
Table 2: Tonnage and grade estimates for Cate-8 Target at a range of AgEq cut-off grades
Cutoff Grade AgEq gt | AgEq g/tt | Tonnage | AgEq_ Ounces | |||||||
| 0 | 43.28 | 2,433,278 | 3,071,689 | |||||||
| 25 | 140.55 | 739,190 | 3,030,278 | |||||||
| 50 | 183.20 | 522,178 | 2,790,141 | |||||||
| 75 | 221.35 | 397,133 | 2,563,951 | |||||||
| 100 | 255.94 | 316,820 | 2,365,028 | |||||||
| 125 | 290.16 | 255,634 | 2,163,427 | |||||||
| 150 | 331.43 | 201,271 | 1,945,616 | |||||||
| 175 | 375.94 | 160,181 | 1,756,379 | |||||||
| 200 | 416.01 | 132,132 | 1,603,233 | |||||||
| 225 | 461.31 | 107,828 | 1,450,816 | |||||||
| 250 | 477.36 | 100,609 | 1,400,774 | |||||||
| 275 | 492.47 | 93,969 | 1,349,746 | |||||||
| 300 | 499.89 | 90,694 | 1,322,328 | |||||||
BUNKER HILL DRAWS US$2 MILLION UNDER STANDBY FACILITY TO SUPPORT MINE RAMP-UP
Bunker Hill also announces that it has drawn an additional US$2,000,000 under the existing Standby Facility, provided to the Company by Teck Metals Ltd., providing additional financial flexibility as the Company continues the ramp-up of operations at the Bunker Hill Mine.
The Company expects to draw on the remaining US$2,000,000 under the Standby Facility as well as US$7,000,000 available under the previously announced concentrate prepayment facility (the “Prepayment Facility”) with Ocean Partners UK Ltd. (collectively, the “Drawdowns”) from time to time during the months of September and October 2026. The proceeds from the Drawdowns will be used to support working capital requirements and ongoing operations as the Company advances toward full commercial production, expected by the end of 2026.
The Standby Facility and Prepayment Facility form part of the Company’s broader financing strategy and provide additional capital flexibility during the initial years of operations. The Company continues to prudently manage its liquidity while focusing on safely increasing production, optimizing plant performance and generating sustainable cash flow.
Future drawdowns under the Standby Facility and the Prepayment Facility are subject to the conditions precedent set forth in the applicable facility agreements.
QUALITY ASSURANCE / QUALITY CONTROL (“QA/QC”)
The Company has implemented rigorous QA/QC protocols, including the insertion of blanks and standards in all sample batches. QA samples inserted into the assay batches for holes reported here all passed analyses of blanks and certified reference standards. Core sample intervals were selected based on visual geology and mineralization, and were cut, bagged and delivered to the lab by Bunker Hill geologists. Samples were split and cut on a core saw where necessary, following a cut line placed by the geologist dividing visible mineralization into equal proportions. In areas of poor drill recovery, sampling was conducted from run block to run block to avoid any spatial bias within the interval.
Samples were prepared and analyzed at SVL Lab located in Smelterville, Idaho, using standard industry grind, split, and pulp preparation, followed by microwave digestion and Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES) analysis, with overlimit samples assayed by fire assay with a gravimetric finish for silver. SVL Analytical, Inc. is a full-service environmental and geochemical laboratory and holds ISO/IEC 17025 accreditation for Fire Assay and Geochemistry. SVL’s QA program meets the quality requirements set forth in the ISO/IEC 17025:2017 Standard, as evidenced by the inclusion and reporting of internal quality control samples with all results.
QUALIFIED PERSON
Sam Bourque (AIPG CPG #11775), Chief Geologist of Bunker Hill, is the Company’s designated Qualified Person for this news release within the meaning of NI 43-101. Mr. Bourque has reviewed and approved the technical information contained herein.
ABOUT BUNKER HILL MINING
Bunker Hill Mining Corp. is a U.S.-based mining company focused on the restart and operation of its flagship asset, the historic Bunker Hill Mine in northern Idaho’s prolific Silver Valley. One of North America’s most storied mining districts, the Bunker Hill Mine is being redeveloped as a modern producer of zinc, lead and silver concentrates through responsible mining practices and a disciplined approach to operational execution.
The Company’s strategy is centered on creating long-term value through the efficient restart, optimization and expansion of this high-quality asset while maintaining strong environmental stewardship, safety performance and community engagement. Bunker Hill is committed to delivering sustainable growth and maximizing shareholder returns by successfully redeveloping a cornerstone mining operation in the United States.
Additional information is available at www.bunkerhillmining.com, on SEDAR+, and on EDGAR.
On behalf of Bunker Hill Mining Corp.
Sam Ash
President and Chief Executive Officer
For additional information, please contact:
Brenda Dayton
Vice President, Investor Relations
T: 604.417.7952
E: brenda.dayton@bunkerhillmining.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase “forward-looking information” in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations (collectively, “forward-looking statements”). Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “plan” or variations of such words and phrases.
Forward-looking statements in this news release include, but are not limited to, statements regarding: additional zones of mineralization; the preparation and completion of an initial resource estimate, with the aim of including in the production plan; the Cate-8 Target and Cate-8 Target Model; future drill, exploration and testing programs; geological interpretations and resource calculations; incorporation of the Cate-8 Target into short-term mine plans; the Company’s intention to draw under its existing credit facilities; the timing, amount, and use of proceeds for such drawdown(s); and the Company’s general objectives, goals or future plans, and any similar statements. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: sufficiency of project financing for the ramp up of commercial production of the Bunker Hill Mine on acceptable terms or at all; the future price of metals; and the stability of the financial and capital markets. Factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, those risks and uncertainties identified in public filings made by Bunker Hill with the U.S. Securities and Exchange Commission (the “SEC”) and with applicable Canadian securities regulatory authorities, including its latest annual report on Form 10-K as filed with the SEC on March 6, 2026, and the following: the Company’s inability to raise additional capital for project activities, including through equity financings, concentrate offtake financings or otherwise; capital market conditions; failure to identify mineral resources; failure to convert estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the Company’s ability to ramp up the Bunker Hill Mine to commercial production and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability . Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on such statements or information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Readers are cautioned that the foregoing risks and uncertainties are not exhaustive. Additional information on these and other risk factors that could affect the Company’s operations or financial results are included in the Company’s annual report and may be accessed through the SEDAR+ website (www.sedarplus.ca) or through EDGAR on the SEC website (www.sec.gov).