Bunker Hill Announces Election to Issue Shares IN Satisfaction of Interest Payment Obligations
BUNKER HILL ANNOUNCES ELECTION TO ISSUE SHARES IN SATISFACTION
OF INTEREST PAYMENT OBLIGATIONS
KELLOGG, IDAHO | VANCOUVER, BRITISH COLUMBIA, September 29, 2025 – Bunker Hill Mining Corp. (“Bunker
Hill” or the “ Company”) (TSXV:BNKR | OTCQB:BHLL) announces that it has elected to issue an aggregate of
2,236,111 shares of common stock of the Company (the “ Interest Shares”) in full satisfaction of the interest
payable in the aggregate amount of US$268,333.34 as of September 30, 2025 under certain outstanding
convertible debentures (collectively, the “ Interest Payments ”), including (i) an aggregate of 638,889 Interest
Shares to certain holders of 5.0% Series 1 secured convertible debentures (the “ Series 1 Debentures ”) for the
aggregate interest of US$76,666.67 owing thereunder and (ii) an aggregate of 1,597,222 Interest Shares to certain
holders of 5.0% Series 2 secured convertible debentures (the “Series 2 Debentures” and, together with the Series
1 Debentures, the “ Debentures”) for the aggregate interest of US$191,666.67 owing thereunder. The Series 1
Debentures and the Series 2 Debentures mature on March 31, 2028 and March 31, 2029, respectively.
In accordance with the terms of the Debentures, the Company will issue the Interest Shares at a price of USD$0.12
(approximately C$0.17) per Interest Share based on 90% of the 10-day volume weighted average trading price of
the shares of common stock of the Company on the TSX Venture Exchange (the “ TSX-V”) on the trading days
beginning on September 15, 2025 and ending on September 26, 2025 (the “Pricing Period”).
In connection with the Interest Payment s, the Company will issue an aggregate of 2,129,630 Interest Shares to
certain managed accounts of Sprott Private Resource Streaming and Royalty Corp. (“Sprott”) and, accordingly, the
issuance of such Interest Shares to Sprott will constitute a “related party transaction” within the meaning of
Multilateral Instrument 61 -101 – Protection of Minority Shareholder Approval (“MI 61 -101”). The Company
intends on relying on exemptions from the formal valuation and minority shareholder approval requirements
under MI 61 -101 as neither the fair market value of the Interest Shares to be issued to Sprott, nor the
consideration received for such Interest Shares, will exceed 25% of the Company’s market capitalization. The
Company did not file a material change report more than 21 days prior to the election to issue the Interest Shares
as the Pricing Period only ended yesterday on September 26, 2025.
The issuance of the Interest Shares is subject to the terms and conditions of the Debentures as well as the receipt
of all regulatory approvals, including, without limitation, the approval of the TSX -V. Once issued, the Interest
Shares will be subject to a four month and one-day hold period in accordance with applicable Canadian securities
laws. The Interest Shares have not been, and will not be, registered under the United States Securities Act of 1933,
as amended (the “ U.S. Securities Act”) or any U.S. s tate securities laws, and may not be offered or sold in the
United States without registration under the U.S. Securities Act and all applicable state securities laws or in
compliance with the requirements of an applicable exemption therefrom
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 a number of mining assets into a high-value portfolio of operations,
centered initially in Nort h 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
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 statemen ts”). 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 ; and the terms and
completion of the Interest Payments described herein, including the number and deemed pricing of the Interest
Shares issuable in connection therewith, and the Company receiving all regulatory and stock exchange approvals
for the Interest Payments. Forward-looking statements reflect material expectations and assumptions, including,
without limitation, expectations and assumptions relating to: Bunker Hill’s ability to complete the Interest
Payments on the terms described herein or at all; 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; Bunker Hill’s ability to
operate as a going concern and its history of losses; 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 Commissi on (the “ SEC”) and with applicable Canadian securities regulatory
authorities, and the followin g: the Company’s inability to raise additional capit al for project activities, including
through equity financings, concentrate offtake financings or otherwise; 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; f ailure 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 th e 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 estimat es 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 eve nts 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).