Bunker Hill Mining Intercepts Near Surface, High‐grade Silver
BUNKER HILL MINING INTERCEPTS NEAR SURFACE, HIGH‐GRADE SILVER
TORONTO, Feb. 26, 2021 – Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR) is pleased to report that it has
intercepted high grade silver mineralization in the UTZ area of the Bunker Hill Mine, with a silver equivalent grade of
1,206 g/t AgEq as detailed in Table 1 below. This area is near surface, in close proximity to existing infrastructure, and
located within a larger mineralized zone which was historically thought to not contain high‐grade silver.
Table 1 below: High grade silver intercept Hole 7056
From To Drilled
(M)
Recovered
(M)
AgEq g/t Ag %Pb %Zn
54.6 55.8 1.2 0.46* 1205.6 1195 0.3 0.1
59.7 60.6 0.9 0.9 604 562 1.2 0.1
*An intercept of high‐grade silver was intersected while drilling through a fault on the 05‐1 level in the UTZ. Due to poor recovery and for QA/QC
purposes, the Company chose to report assay results based only on recovered footage. Drilled footage is NOT the reported width of the
intercept. Numbers in the above table are based on the 0.46 M of recovered material instead of the 1.2 M drilled. Reported widths are
intercepted ore lengths and not true widths, as relationships with intercepted structures and contacts vary. Prices used to calculate Ag and Zn Eq
are as follows: Zn=$1.16/lb, Pb=$0.92/lb, Ag=$20/oz.
Sam Ash, CEO of Bunker Hill Mining, stated: “The presence of high‐grade silver in the upper areas of the Bunker Hill
Mine is very encouraging. Furthermore, it is within the PEA study area and has the potential to be mined within Phase
1 of our restart program, which could allow us to immediately crystalize the value. Analysis is underway to follow up
and further explore for nearby high‐grade silver mineralization.”
The Preliminary Economic Assessment (“PEA”) to assess the rapid restart program remains on track for completion in
early Q2‐2021.
Figure 1: Silver Intercept Drilling Exploration – Cross Section
Technical Information
The diamond drilling program used HQ‐size core. Bunker Hill followed standard QA/QC practices to ensure the
integrity of the core and sample preparation through to delivery of the samples to the assay lab. The drill core was
stored in a secure facility, photographed, logged and sampled based on lithologic and mineralogical
interpretations. Standards of certified reference materials, field duplicates and blanks were inserted as samples
shipped with the core samples to the lab.
ALS Global was used to provide analytical services and all results comply with both NI 43‐101 and industry standards.
ALS Global holds an industry standard ISO 17025 accreditation, specifying general requirements for laboratory
performance.
The Company advises that it does not propose to base its production decision on a feasibility study of mineral
reserves, demonstrating economic and technical viability, 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. Historically, such projects have a higher risk of economic and
technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated
production costs will be achieved. The Company further cautions that a PEA is preliminary in nature. No mining study
has been completed. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
There is no certainty that the PEA will be realized.
Qualified Person
Mr. Scott E. Wilson, CPG, President of Resource Development Associates Inc. and a consultant to the Company, is an
Independent “Qualified Person” as defined by NI 43‐101 and is acting at the Qualified Person for the Company. He has
reviewed and approved the technical information summarized in this news release.
About Bunker Hill Mining Corp.
Bunker Hill Mining Corp. has an option to acquire 100% of all saleable assets at the Bunker Hill Mine. Information
about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR
databases.
For additional information contact:
Sam Ash, President and Chief Executive Officer
+1 208 786 6999
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. Although 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; 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; capital, operating and reclamation costs varying significantly
from estimates and the other risks involved in the mineral exploration and development industry; and those risks 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 “measured 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 and 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 “inferred 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 constitute
“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.