Mr. Sam Ash of Bunker Hill reports

BUNKER HILL SHAREHOLDERS VOTE TO APPROVE BUSINESS COMBINATION WITH SILVER47 EXPLORATION CORP, AS COMPANY COMPLETES DRAWDOWNS OF OCEAN PARTNERS AND TECK FACILITIES SUPPORTING RAMP-UP TO COMMERCIAL PRODUCTION BY END Q4 2026

Bunker Hill Mining Corp. stockholders approved all matters voted on at the special meeting of stockholders held today in Kellogg, Idaho, including the charter amendment and share issuance resolutions in connection with the proposed business combination with Silver47 Exploration Corp.

The company is also pleased to announce that it remains on track to achieve commercial production by the end of fourth quarter 2026, supported by the drawing down of the remaining amounts available under its concentrate prepayment facility with Ocean Partners U.K. Ltd. and its existing standby facility provided by Teck Resources Ltd., together with its affiliates. Together, the drawdowns provided aggregate proceeds of $20-million (U.S.) to the company.

Sam Ash, president and chief executive officer of Bunker Hill, stated: "I wish to thank the combined Bunker Hill and Silver47 shareholders for supporting this exciting transaction that will materially improve their exposure to U.S.-based silver and critical metals. This is a source of remarkable U.S.-based investment value to be unlocked by the reinvestment of cash flow generated by the Bunker Hill mine, which remains on track to achieve commercial production by the end of 2026, supported by the drawdowns from the existing Teck and Ocean Partners facilities."

Special meeting

A total of 27,295,759 shares of common stock were represented in person or by proxy at the meeting, representing approximately 57.82 per cent of the company's issued and outstanding common shares as of the record date for the meeting.

All matters submitted to stockholders for approval as set out in the company's proxy statement dated Sept. 23, 2026, were approved by the requisite majorities of votes cast at the meeting.

Of the votes cast at the meeting: (i) 25,847,044 common shares, representing 94.69 per cent, were voted in favour of the charter amendment proposal (as defined in the proxy statement); and (ii) 25,949,684 common shares, representing 95.07 per cent, were voted in favour of the share issuance proposal (as defined in the proxy statement). The detailed voting results for the meeting will be available under the company's SEDAR+ profile.

In addition to the approval by Bunker Hill stockholders, the Silver47 shareholders approved the transaction at its special meeting of shareholders held on Oct. 27, 2026. Closing of the transaction remains subject to satisfaction of certain customary conditions, including receipt of final court and stock exchange approvals. Subject to the satisfaction of these conditions, the company anticipates that closing of the transaction will occur on or about Nov. 5, 2026. Further details regarding the transaction, including the principal closing conditions and the anticipated benefits of the transaction, can be found in the proxy statement, which can be found on the company's SEDAR+ profile and on EDGAR.

Ramp-up to commercial production

The operation is transporting zinc and lead-silver concentrates to market -- the zinc to Trail, B.C., and the lead-silver through Ocean Partners to various buyers. Other highlights include:

• The safety of the expanding Bunker Hill team remains the highest priority. It is now 569 days since the last reportable injury. The quality of front line supervision and individual commitment to safety and operational improvement remain outstanding and reflective of the exceptional human mining talent available in the remarkable Silver Valley.
• The underground mining operation is meeting tonnage and grade requirements for this stage of ramp-up through mining both UTZ on the 5-level and part of the recently discovered Cate-8 on the 8-level. It recently blasted its largest long-hole-transverse stope to date: 7,000 tonnes of ore moved from a 60-foot-long-by-40-foot-wide-by-50-foot-deep section, a breakthrough to a new level of efficiency and productivity.
• The average throughput in the plant is now above 1,100 tonnes per day (excluding downtime) with recoveries for both lead and zinc averaging greater than 70 per cent, with plant availability targets improving as the maintenance systems evolve, training of the new team advances and mechanical optimization work is executed to plan. This places the plant on track to achieve its commercial targets by the end of 2026.

2027 business planning

The update to the resource and reserve table is being worked on, to incorporate the Cate-8 and other near-mine discoveries. The company plans to issue this update by the end of 2026.

Working with Ausenco and Tierra Group, the Bunker Hill technical team is progressing its study of a ramp-up of production to 2,500 tonnes per day from 2027, through the construction of a new 6,000-foot portal nearer to the processing plant, minor enhancements to the existing processing plant and enhancements to the on-site dry-stack tailings facility.

The company currently expects to issue production guidance for 2027, taking account of the ramp-up to commercial production, exploration and study progress, and associated mine planning by the end of 2026.

Facility drawdowns

The proceeds of the drawdowns will support the final phases of ramp-up to commercial production at the Bunker Hill mine, including mechanical optimization in the plant, underground development and general working capital through the first concentrate sales cycles.

Ocean Partners concentrate prepayment facility

As previously announced on Aug. 21, 2026, Bunker Hill entered into a concentrate prepayment agreement with Ocean Partners, a current shareholder of Bunker Hill, for a concentrate prepayment facility of up to $10-million (U.S.). The company has drawn the full $10-million (U.S.) available under the Ocean Partners facility. The Ocean Partners facility further strengthens the company's partnership with Ocean Partners, a global provider of trading services for miners, smelters and refiners.

Teck standby facility

The company also announces that it has drawn the remaining $2-million (U.S.) available under the standby facility, such that the standby facility, in the aggregate principal amount of $10-million (U.S.), is fully drawn. The standby facility forms part of the company's broader financing strategy and is intended to provide additional capital flexibility during the initial years of operations.

The company continues to prudently manage its liquidity while focusing on safely increasing production, optimizing plant performance and generating sustainable cash flow.

As Teck and its affiliates have beneficial ownership of, or control or direction over, directly or indirectly, more than 10 per cent of the shares of common stock of the company, the drawdown between the company and Teck described above constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). This drawdown and previous drawdowns of the standby facility will be exempt from the minority shareholder approval requirements of MI 61-101 pursuant to Section 5.7(1)(a) as neither the fair market value of the subject matter of, nor the fair market value of the drawdown for, the transactions involving related parties, will in the aggregate exceed 25 per cent of the company's market capitalization. The board of directors of the company has approved the standby facility, the related-party transactions with Teck and all other ancillary matters.

About Bunker Hill Mining Corp.

Bunker Hill is a United States-based exploration and development company focused on the restart of its flagship asset, the historic Bunker Hill mine in northern Idaho's prolific Silver Valley. One of North America's most storied mining districts, the Bunker Hill mine is being redeveloped as a modern producer of zinc, lead and silver concentrates through responsible mining practices and a disciplined approach to operational execution.

The company's strategy is centred on creating long-term value through the efficient restart, optimization and expansion of this high-quality asset while maintaining strong environmental stewardship, safety performance and community engagement. Bunker Hill is committed to delivering sustainable growth and maximizing shareholder returns by redeveloping a cornerstone mining operation in the United States.

We seek Safe Harbor.