Bunker Hill Announces Amendment of Royalty Agreement with Sprott Streaming
Bunker Hill Announces Amendment of Royalty Agreement with Sprott
Streaming
KELLOGG, Idaho and VANCOUVER, British Columbia, Feb. 25, 2025 -- Bunker Hill Mining Corp. (“Bunker Hill ” or the
“Company”) (TSX-V:BNKR | OTCQX:BHLL) announces that the Company, its wholly-owned subsidiary Silver Valley Metals
Corp. (“Silver Valley ”) and an affiliate of Sprott Private Resource Streaming & Royalty Corp. (“ Sprott Streaming ”) entered
into a first amendment agreement to royalty agreement dated December 12, 2024 (the “First Amendment”) in connection with
the royalty agreement dated June 23, 2023 (the “Existing Royalty Agreement ”) previously entered into by the parties.
Under the Existing Royalty Agreement, Silver Valley granted Sprott Streaming certain gross revenue royalty interests
(collectively, the “Royalty”) on certain primary, residual and other claims comprising the Bunker Hill Mine located in Idaho,
USA (the “Land Package ”).
Under the First Amendment, the Royalty will now also apply to certain additional surface and mineral parcels (the “ Additional
Claims”) between patented mining claims that are within the existing boundaries of the Land Package. The Additional Claims
in aggregate cover an immaterial portion of the total land package and were identified by the Company as part of its annual
review of the Land Package to ensure there are no gaps in the claims comprising the Land Package.
The First Amendment constitutes a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of
Minority Security Holders in Special Transactions (“MI 61-101 ”). The transaction is exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101 pursuant to the exemptions provided under Section 5.5(g) and 5.7(1)
(e) of MI 61-101, respectively.
Further information regarding the terms of the Existing Royalty Agreement can be found in the Company’s news release of
June 26, 2023. Other than as outlined above, all other terms of the Existing Royalty Agreement are unchanged from those
previously announced. The consummation of the First Amendment remains subject to the approval of the TSX Venture
Exchange (“TSX-V”).
ABOUT BUNKER HILL MINING CORP.
Bunker Hill Mining Corp. is an American mineral exploration and development company focused on revitalizing our historic
mining asset: the renowned zinc, lead, and silver deposit in northern Idaho's prolific Coeur d'Alene mining district. This
strategic initiative aims to breathe new life into a once-productive mine, leveraging modern exploration techniques and
sustainable development practices to unlock the potential of this mineral-rich region. Bunker Hill Mining Corp. aims to
maximize shareholder value while responsibly harnessing the mineral wealth in the Silver Valley mining district by
concentrating our efforts on this single, high-potential asset. Information about the Company is available on its website,
www.bunkerhillmining.com, or within the SEDAR+ and EDGAR databases.
On behalf of Bunker Hill
Sam Ash
President, Chief Executive Officer and Director
For additional information, please contact:
Brenda Dayton
Vice President, Investor Relations
T: 604.417.7952
Cautionary Statements
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this news release.
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 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: the Company’s
objectives, goals or future plans; the consummation of the First Amendment, including TSX-V approval for the First
Amendment; and the achievement and expected timing of future short-term, medium-term and long-term operational
strategies. Forward-looking statements reflect material expectations and assumptions, including, without limitation,
expectations and assumptions relating to: Bunker Hill’s ability to receive sufficient project financing for the restart and ongoing
development 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, and the following: the
Company’s inability to raise additional capital for project activities, including through equity financings, concentrate offtake
financings or otherwise on acceptable terms or at all; capital market conditions; the Company requiring more capital
expenditures than expected for the planned project restart, resulting in delays or the inability to complete the restart by the
timeline previously disclosed or at all; the necessity of further amendments to the Existing Royalty Agreement, including those
associated with the Company’s ongoing cleanup efforts relating to the claims comprising the Land Package; future payments
of the Royalty relating to the Land Package; 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 restart and develop the
Bunker Hill Mine and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating
economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure
which are associated with this production decision including, among others, areas that are analyzed in more detail in a
feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of
specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community
impacts 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, with no
guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved; failure to
commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to
fund operations; failure to achieve the anticipated production costs would have a material adverse impact on the Company's
cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project
approvals; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the
inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the
ability of the Company to complete the payments pursuant to the terms of the agreement to acquire the Bunker Hill Mine
complex; delays in the development of projects; and capital, operating and reclamation costs varying significantly from
estimates and the other risks involved in the mineral exploration and development industry. 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, including as to whether or when
the Company will achieve its project finance initiatives, or as to the actual size or terms of those financing initiatives. 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).