Bunker Hill Announces Increase to the Previously Announced Promissory Note to Ensure Sufficient Liquidity as it Continues Toward Closing its Private Placements and Major Capital Restructuring
Bunker Hill Announces Increase to the Previously Announced Promissory
Note to Ensure Sufficient Liquidity as it Continues Toward Closing its Private
Placements and Major Capital Restructuring
KELLOGG, Idaho and VANCOUVER, British Columbia, May 22, 2025 -- Bunker Hill Mining Corp. (“Bunker Hill ” or the
“Company”) (TSX-V: BNKR |OTCQB: BHLL) is pleased to announce that the Company and Teck Resources Limited (“Teck”)
have agreed to amend and restate the unsecured promissory note previously provided by Teck to increase the maximum
aggregate principal amount thereunder from US$3.4 million to US$4.4 million (as amended and restated, the “ Promissory
Note”). The Promissory Note ensures sufficient short-term funding until the previously announced brokered and non-brokered
private placements close, and bears interest at a rate of 12% per annum, with such interest being capitalized and added to the
principal amount outstanding monthly under the Promissory Note. The Promissory Note is available in multiple advances, at
the discretion of Teck, and is payable by the Company in cash on demand from Teck. No bonus securities of the Company
will be issued to Teck in connection with the Promissory Note, nor is the Promissory Note convertible into securities of the
Company.
ABOUT BUNKER HILL MINING CORP.
Bunker Hill 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 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 Venture Exchange (“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, the expectation that the Promissory Note will
provide sufficient short-term funding and the closing of brokered and non-brokered private placements. Forward-looking
statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating
to: Bunker Hill’s ability to close the private placements and ongoing capital restructuring and to receive sufficient project
financing for the restart and development of the Project on an acceptable timeline, on acceptable terms, or at all; our ability to
service our existing debt and meet the payment obligations thereunder, including following the restructuring transactions, if
completed; further drilling and geotechnical work supporting the planned restart and operations at the Bunker Hill Zinc-Silver-
Lead Mine (the “Project”); 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: Bunker Hill’s ability to operate as a going
concern and its history of losses; Bunker Hill’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; further
geotechnical work not supporting the continued development of the Project or the results described herein; failure to convert
estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the Company’s ability to raise
sufficient project financing, on acceptable terms or at all, to restart and develop the Project 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; the Company requiring additional capital expenditures than
anticipated, resulting in delays in the expected restart timeline; 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 Project 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, or whether and when the Company will achieve its operational and construction targets. 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).