Bunker Hill Mining: Progress and Promise in 2025

Bunker Hill Mining Corp. (TSX-V: BNKR | OTCQX:BHLL) has provided a comprehensive update on its operational and corporate activities, highlighting significant progress in its mine restart project. The company is actively engaged in discussions with strategic financing partners while continuing to advance the mine restart, aiming to create new American mining jobs and strengthen the North American supply chain.

Operational Milestones

Bunker Hill Mining has achieved several key operational milestones, demonstrating its commitment to safety, environmental responsibility, and efficient production. Some of the notable achievements include:

1. Safety Milestone: The company achieved an entire year without injuries in 2024, showcasing a strong focus on safety and a safe working environment.
2. Processing Plant Construction: The mechanical installation of the fully refurbished floatation circuit, moved from Teck's closed Pend Oreille Mine, is ongoing inside the Processing Plant Building. This work is being conducted concurrently with the final installation of adjacent conveyor systems, concentrate load-out bays, and the crusher tower. The next stage of construction will involve the installation of all remaining equipment, along with associated piping, pumping, and electrical infrastructure. Phased commissioning plans are in place and are ready to be initiated through H1 2025.
3. Underground Infrastructure: Rehabilitation efforts to improve underground operations are ongoing. A new ramp has been successfully upgraded, completed, and is now fully operational. Mining areas in the underground area close to the Russell Portal have also been prepared for operations, and an upgraded, modern mine ventilation system has been installed. These advancements significantly improve accessibility to the mining areas and set the stage for efficient production.
4. Mineral Estimate Report: The company is on track to issue a new mineral estimate report during Q1 2025, which will provide an updated assessment of the mine's mineral resources and reserves. This report is expected to be published in April 2025.

Environmental Bonding Commitments and Financing

Bunker Hill Mining has optimized its environmental bonding commitments by rearranging costs related to a $14 million obligation to the US EPA. This optimization is expected to return approximately C$0.6 million to support the mine restart, allowing the company to allocate more resources towards the project and potentially accelerating the timeline for the restart.

The company has also elected to issue shares in satisfaction of debenture interest payment obligations and financing cooperation fees, preserving cash for ongoing development. This transaction is subject to regulatory approvals.

Mine Restart Timeline and Processing Plant Construction

Bunker Hill Mining aims to restart operations in the second quarter of 2025, creating new American mining jobs within the Silver Valley and providing critical metal into the North American supply chain. The processing plant construction is a crucial aspect of this timeline, and the company is working diligently to ensure that it is completed on schedule.

The processing plant, when complete and operating, will have the largest capacity of any such facility within the Silver Valley, with plans to expand this capacity to 2,500 tons per day, potentially supported by the US Export-Import Bank ("US EXIM") from 2026. The mechanical installation of the fully refurbished floatation circuit, moved from Teck's closed Pend Oreille Mine, is ongoing inside the Processing Plant Building. This work is being conducted concurrently with the final installation of adjacent conveyor systems, concentrate load-out bays, and the crusher tower. The next stage of construction will involve the installation of all remaining equipment, along with associated piping, pumping, and electrical infrastructure. Phased commissioning plans are in place and are ready to be initiated through H1 2025.

The two refurbished mills, the main mill from Barrick's Golden Sunlight mine in Montana, and the smaller regrind mill from Teck's Pend Oreille mine in Washington, will start their phased commissioning once the final upgrade to their lubrication systems has been completed. The processing facility, along with its associated tailings filter plant, has been designed to remain within the footprint of the previous industrial site built upon the waste rock extracted during the 1898-1902 construction of the Kellogg Tunnel. This compact layout ensures no disturbance of any rehabilitated or greenfield ground, but it required the new buildings to be underset by deep piers to bind their foundations to the bedrock below the Kellogg Tunnel's waste rock.

Bunker Hill Mining's progress in the mine restart project demonstrates the company's commitment to responsible resource extraction, environmental management, and partnership techniques. The restart of profitable mining operations at Bunker Hill will represent a significant economic and environmental milestone, locally and nationally, creating 250 new long-term jobs within Shoshone County, Idaho. This project will contribute to the rejuvenation of a region historically dependent on mining, balancing economic development with modern environmental stewardship.