Liberty Silver Provides an Update on Its Progress Regarding the Bunker Hill Zinc, Lead, Silver Mine
Liberty Silver Provides an Update on Its Progress Regarding the Bunker Hill
Zinc, Lead, Silver Mine
TORONTO, Nov. 15, 2017 -- Liberty Silver Corp. (CSE:LSL) (“Liberty” or the “Company”) is pleased to provide an update on its
progress regarding the Bunker Hill Zinc, Lead, and Silver Mine (“Bunker Hill”). The Bunker Hill Mine was the largest producing
mine in the Coeur D'Alene zinc, lead and silver mining district in northern Idaho. Historically, the mine produced over 35M
tonnes of ore grading on average 8.76% lead, 3.67% zinc, and 155 g/t silver (Bunker Hill Mines Annual Report 1980).
President and CEO, Bruce Reid, stated: “I am pleased with our progress in undertaking Bunker Hill Mine development
activities. The size and scope of this endeavour necessitates a slow and systematic process.”
Highlights of Progress at Bunker Hill:
• Ongoing Development Activities: The groundwork is being laid for completion of a NI 43-101 resource estimate in Q2
2018.
• EPA: The Company and the EPA are currently in the final stages of documenting an agreement to pay for and operate
a water treatment facility, and to indemnify the Company for all environmental liability related to activities by previous
owners.
• Lease and Option to Purchase: Certain lease repayment terms have been re-negotiated.
Ongoing Development Activities at Bunker Hill
a. Resource Estimate: The Company is currently digitizing existing data including level plans, drill hole and sampling
assays. Discussions have begun with an independent engineering consultant regarding additional data requirements for
a NI 43-101 resource estimate. Liberty expects to complete required drilling and channel sampling and to prepare a
resource estimate during the second quarter of 2018.
b. Processing Plant: Additionally, the Company has started identifying appropriate plants for both toll milling and owner-
operated scenarios. Several possibilities are currently being evaluated.
c. Smelters: The Company has been fielding numerous enquiries from both North American and internationally located
smelters regarding the availability of future Bunker Hill concentrate for feed in their plants. Historically, the concentrate
produced at Bunker Hill has been of high quality (good grades, no deleterious elements), and that is reflected in the
amount of interest shown to-date from various parties.
EPA
The Company and the EPA are working together to document a previously agreed to arrangement whereby the EPA is
compensated for past and future operation of the water treatment facility existing at the Bunker Hill Mine. In return for these
payments by the Company to the EPA, the EPA will (a) provide the Company with a water use permit, the only permit required
to initiate a mine re-start, and (b) A Consent Decree that will indemnify the Company for all historical environmental liability
relating to past operating activities by previous owners.
The Company and the EPA are in advanced negotiations, and the general tone of the process has been exceedingly positive
and cooperative. The Company looks forward to executing the final documents in the next several months, and to working
together with the EPA as the Company re-starts and operates the Bunker Hill mine in an environmentally sensitive manner.
Lease and Option to Purchase
The vendor of Bunker Hill has been very supportive of the Company’s endeavours, and has agreed to a re-scheduling of certain
upfront lease and acquisition payments, reflecting the conclusion of financing activities currently underway by the Company
(see press release dated October 25, 2017).
Status of Name Change
The Company has recently taken all necessary corporate law steps to complete a name change of the Company to Bunker
Hill Mining Corp. The remaining step is to obtain electronic eligibility for trading settlement under the new name which is
expected in early 2018.
Qualified Person
The technical information in this press release has been reviewed and approved by Peter Karelse P.Geo., a consultant to the
Company, who is a Qualified Person as defined by NI 43-101. Mr. Karelse has more than 30 years of experience in exploration
and development.
About Liberty Silver Corp.
Liberty has entered into a lease and option agreement to acquire the Bunker Hill Mine Complex. Information about Liberty is
available on its website, www.libertysilvercorp.com, or in the SEDAR and EDGAR databases.
For additional information contact:
Bruce Reid, Chief Executive Officer
(647) 500-4495
Nicholas Konkin, Marketing & Communications
(416) 567-9087
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. The forward looking statements made herein are based on information currently available to the Company and the
Company provides no assurance that actual results will meet management's expectations or assumptions with respect to,
among other things, the ability of Liberty to successfully complete the acquisition of the Bunker Hill Mine Complex on the
terms as announced or other satisfactory terms or at all, and fund the initial payments for which Liberty does not have funds at
this time, the ability of Liberty to preserve its interests in the Trinity Silver Project which is dependent on the completion of a
feasibility study, the Company’s present and future financial condition, the Company’s ability to secure financing, and the state
of financial markets. 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”, and may include statements regarding, among other things, the terms of the Bunker Hill Mine
Complex acquisition and funding of the acquisition. Since forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to,
among other things, results of exploration, project development, and the Company’s financial condition and prospects, could
differ materially from those currently anticipated in such statements for many reasons such as: the inability of Liberty to
successfully acquire the Bunker Hill Mine Complex on the terms as announced or other satisfactory terms or at all, and fund
the payments for which Liberty does not have funds at this time; the inability of Liberty to complete a feasibility study pursuant
to the terms of the Trinity Silver Project earn-in agreement; the inability of the Company to budget and manage its liquidity in
light of the failure to obtain additional financing; the inability of the Company to develop or sustain an active public market for
its securities; development of changes in general economic conditions and conditions in the financial markets; changes in
demand and prices for precious metals; litigation, legislative, environmental and other judicial, regulatory, political and
competitive developments; operational difficulties encountered in connection with the activities of the Company; and other
matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-
looking statements. These and other factors made in public disclosures and filings by the Company should be considered
carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not
undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf,
except in accordance with applicable securities laws.