Bunker Hill Announces Filing of Updated Technical Report
BUNKER HILL ANNOUNCES FILING OF UPDATED TECHNICAL REPORT
TORONTO, December 29, 2021 – Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR, OTCQB: BHLL) is pleased
to announce the filing of an independent Technical Report (“Technical Report”), containing an updated Mineral
Resource Estimate for the Bunker Hill Mine in the world-class Silver Valley region of Idaho, USA.
The Technical R eport, dated December 29, 2021 and entitled " Technical Report And Preliminary Economic
Assessment For Underground Milling and Concentration of Lead, Silver and Zinc at the Bunker Hill Mine , Coeur
d’Alene Mining District, Shoshone County, Idaho, USA" with an effective date of November 29, 2021, was prepared
in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
The Company’s news release (“Prior News Release”) dated November 30, 2021 (entitled “Bunker Hill Announces
Mineral Resource Update, Including 59% Increase in M&I to 1.1 Billion Zinc Eq Pounds at Higher Grades ”)
summarizes key results, assumptions and estimates contained in the Technical Report with respect to the updated
Mineral Resource Estimate . There are no differences between the key results, assumptions and estimates
contained in the Technical Report and the Prior News Release.
The preliminary economic assessment (“PEA”) contained in the Technical Report is unchanged from the PEA
contained in the technical report dated June 4, 2021 and entitled, " Technical Report and Preliminary Economic
Assessment for Underground Milling and Concentration of Lead, Silver and Zinc at the B unker Hill Mine, Coeur
d’Alene Mining District, Shoshone County, Idaho, USA" with an effective date of April 19, 2021.
The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative
geologically to have the eco nomic considerations applied to them that would enable them to be categorized as
mineral reserves, and there is no certainty that the PEA will be realized.
The Technical Report is available on our website at www.bunkerhillmining.com and has been filed on SEDAR under
the Company's issuer profile at www.sedar.com.
QUALIFIED PERSON
Mr. Scott E. Wilson, CPG, President of RDA and a consultant to the Company, is an independent “qualified person”
as defined by NI 43-101 and is acting as the qualified person for the Company. He has reviewed and approved the
technical information summarized in this news release.
Dr. Deepak Malhotra, SME of Pro Solv LLC, is an independent “qualified person” as defined by NI 43-101 and has
approved the metallurgical data utilized in the updated Technical Report and Mineral Resource Estimate.
MineTech developed the mine infrastructure, capital expenditures and operating expenditures related portions
of the PEA, as well as portions of the mine plan and operating schedules in coordination with RDA and Pro Solv
Consulting, LLC. Robert Todd, P.E. is a Principal of MineTech, a registered engineer in Idaho, consultant to the
Company and an independent “qualified person” as defined by NI 43-101.
The qualified persons have verified the information disclosed herein, including the sampling, preparation, security
and analytical procedures underlying such information, and are not aware of any significant risks and uncertainties
that could be expected to affect the reliability or confidence in the information discussed herein.
ABOUT BUNKER HILL MINING CORP.
Under new Idaho -based leadership the Bunker Hill M ining Corp, intends to sustainably restart and develop the
Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus
on silver. Information about the Company is available on its website, www.bunker hillmining.com, or within the
SEDAR and EDGAR databases.
For additional information contact:
David Wiens, CFA
CFO & Corporate Secretary
+1 208 370 3665
Cautionary 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 Securities Act of 1933, as
amended, and Section 21E of the 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. 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”, or “plan”. Since forward -looking statements are based on assumptions and
address future events and conditions, by their very nature they involve inherent risks and uncertainties. A lthough
these statements are based on information currently available to the Company, the Company provides no
assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved
with forward-looking information could cause actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such forward-looking information.
Forward looking information in this news release includes, but is not limited to, the Company’s intentions regarding
its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from
such forward-looking information include, but are not limited to: the ability to predict and counteract the effects
of COVID-19 on the business of the Company, including but not limited to the effects of COVID -19 on the price of
commodities, capital market conditions, restriction on labour and international travel and supply chains; failure
to identify mineral resources; failure to convert estimated mineral resources to reserves; the inability to complete
a feasibility study which recommends a production decision; 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, in cluding 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 mate rial 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 obtai ning 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 exch ange rates; fluctuations in commodity prices; delays in the development of
projects; capital, operating and reclamation costs varying significantly from estimates and the other risks involved
in the mineral exploration and development industry; and those r isks set out in the Company’s public documents
filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward -
looking information in this news release are reasonable, undue reliance should not be placed on such 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.
Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred
Resources
This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada,
which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve
estimates included in this press release have been disclosed in accordance with NI 43 -101 and the Canadian
Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves.
NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public
disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian disclosure
standards, including NI 43 -101, differ significantly from the requirements of the United States Securities and
Exchange Commission (“SEC”), and resource and reserve information contained in this press release may not be
comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality
of the foregoing, the term “resource” does not equate to the term “reserves”. Under U.S. standards, mineralization
may not be classified as a “reserve” unless the determination has been made that the mineralization could be
economically and legally produced or extracted at the time the reserve determination is made. The SEC’s disclosure
standards normally do not permit the inclusion of information concerning “measur ed mineral resources”,
“indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization
in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. Investors
are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into
reserves. U.S. investors should also understand that “inferred mineral resources” have a great amount of
uncertainty as to their existence an d great uncertainty as to their economic and legal feasibility. It cannot be
assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Investors
are cautioned not to assume that all or any part of an “inferr ed mineral resource” exists or is economically or
legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian
regulations; however, the SEC normally only permits issuers to report mineralization that does not con stitute
“reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements
of NI 43-101 for disclosure of “reserves” are also not the same as those of the SEC, and reserves disclosed by the
Company in accordance with NI 43 -101 may not qualify as “reserves” under SEC standards. Accordingly,
information concerning mineral deposits contained in our website may not be comparable with information made
public by companies that report in accordance with U.S. standards.