Bunker Hill Announces Closing of the Third Tranche of Silver Loan Facility
Bunker Hill Announces Closing of the Third Tranche of Silver Loan Facility
KELLOG, Idaho and VANCOUVER, British Columbia, Nov. 06, 2024 -- Bunker Hill Mining Corp. (“ Bunker Hill ” or the
“Company”) (TSX-V: BNKR; OTCQB: BHLL) announces that it has closed the third tranche of the previously announced silver
loan with Monetary Metals Bond III LLC (the “ LLC”), an entity established by Monetary Metals & Co. (“ MM”), in the principal
amount of US$6,321,112, being the amount of US dollars equal to, as of November 6, 2024, 198,777 ounces of silver.
Silver Loan
As described in the news releases dated June 7, 2024, August 8, 2024 and September 25, 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 (the “Silver Loan ”). 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, as of August 8, 2024, 609,805 ounces of silver. On September 25, 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, as of
September 24, 2024, 200,000 ounces of silver.
DSU Settlement
Further to its news release dated October 7, 2024 , the Company issued 750,000 shares of common stock of the Company
(the “DSU Shares”) instead of 1,039,403 DSU Shares as previously disclosed, at a deemed issue price of C$0.16 per DSU
Share to a former director of the Company in partial satisfaction of the C$166,304.31 cash payment payable to such director
upon their redemption of outstanding deferred share units. The Company settled the remaining C$46,304.31 with a cash
payment. This transaction remains subject to the receipt of the final approval of the TSX Venture Exchange (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 Silver Loan and the DSU Shares, 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.
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
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 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, including the restart and development of the Bunker Hill Mine; the achievement of future
short-term, medium-term and long-term operational strategies; the Silver Loan; the advancement of additional tranches of the
Silver Loan; and the Company receiving TSX-V approval for the issuance of the DSU Shares. 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 not receiving the approval of the TSX-V
for the issuance of the DSU Shares; the Company’s inability to raise additional capital for project activities, including through
equity financings, concentrate offtake financings or otherwise; the fluctuating price of commodities; capital market conditions;
restrictions on labor and its effects on international travel and supply chains; 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; political risks; 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; inflation; changes in exchange rates; fluctuations in commodity prices; 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).