Mr. Sam Ash reports

BUNKER HILL PROVIDES PROJECT RESTART UPDATE FEBRUARY 2024

Bunker Hill Mining Corp.'s project restart activities have accelerated in early 2024 with early stage construction activities about to commence in support of new purpose-built process and filtration plant buildings.

Early 2024 milestones

• Arrival of mill and other key components from the shuttered Golden Sunlight mine brings the procurement of processing plant equipment past the 80-per-cent threshold.
• Power cables and infrastructure have now been "dropped" underground, bringing all parts of the mine -- surface and subsurface -- onto low-cost, hydroelectric-dominated mainline electric grid power.
• Drilling contract for resource definition and expansion to commence in Q2 2024 has been awarded to Dynamic Drilling Inc. of Osburn, Idaho.

Remaining Q1 2024 events

• Demolition of the old mining offices to create space for a new, purpose-built filtration plant is under way and due to complete by the end of Q1 2024.
• LFI of Hutchinson, Kan., is due to deploy in early March to commence drilling of auger-cast piles as part of the prefoundation work for the process plant and filtration plant buildings.

PDAC Conference -- Metro Toronto Conference Centre (March 3 to March 6, 2024)

• Bunker Hill Mining will be represented at its company stand 3214 within the Metro Toronto Conference Centre, and attended by the executive chair, chief executive officer, chief financial officer, chief geologist and director: finance.

"With underground infrastructure preparations already well advanced this is a particularly exciting time at our main site in Kellogg as we transition out of engineering and design and into preliminary construction activities," said Sam Ash, Bunker Hill's chief executive officer, adding that, "All is progressing very nicely in what will be a tremendously exciting year for Bunker Hill."

Process plant equipment procurement passes 80 per cent

Early in 2024 Bunker Hill contracted Barnhart Crane & Rigging, which had previously helped the company successfully and safely dismantle and transport the Pend Oreille mill from Metaline Falls, Wash., to Kellogg, Idaho, to perform a similar role with critical components purchased from the Golden Sunlight mine. Most conspicuous among these components was a Rod mill that will be repurposed as the primary Ball mill in the new process plant to potentially enable the 1,800-tonne-per-day operational milling throughput with significant upside capacity (cf. Bunker Hill 2.0). With these parts now on site, as well as the full suite of Pend Oreille mill equipment, procurement of equipment for the new process plant was at 81 per cent as at Feb. 22, 2024.

Taking power underground

After the connection of the Wardner base of mining operations to the overland power grid in late 2024, on Feb. 21 the Bunker Hill mining team safely dropped power underground as part of the first stage of connecting the highest levels of the mine (those that will be mined in the first three years after restart) to mainline electrical power. In the coming weeks this power will be used to start the main seven-foot ventilaton fan that has already been procured and is ready to go, and to power the first fully automated mine doors ever to be installed in the Bunker Hill mine. Iterative power drops will continue throughout the year to ensure all parts of the mine between levels 5 and 9 that are integral to the mine plan will be ready to support the full suite of mining activities on restart.

In addition to these activities a drilling contact with Dynamic Drilling Inc. was recently executed in support of a drill program that will commence in April, 2024, and last for much of the year in support of both resource definition and resource expansion.

Drilling of deep piers

On March 4, 2024, LFI from Kansas will deploy rigs onto the main Kellogg site to commence the drilling of auger-cast piles. This is a prefoundation, preparation of the land activity with drilling due to commence on the west side of the yard before advancing to the east side. In preparation for this work the building previously used by team members as an office building, a prewar building dating from the early 20th century, is in the process of being demolished (with a period of abatement preceding actual demolition).

Whilst not formally classified as construction activities, this drill program will nevertheless mark the start of a transition out of an extensive engineering and design phase and into physical activity on the ground. The prefoundational design work for this has been a collaborative effort by Barr Engineering Company (the group that has been designing the process plant) and LFI, a company that specializes in auger-cast piles.

Qualified person

Scott E. Wilson, CPG, president of RDA and a consultant to the company, is an independent qualified person as defined by National Instrument 43-101 and is acting as the qualified person for the company. He has reviewed and approved the technical information summarized in this news release.

The qualified person has verified the information disclosed herein, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties that could be expected to affect the reliability or confidence in the information discussed herein.

About Bunker Hill Mining Corp.

Under new Idaho-based leadership, Bunker Hill Mining intends to sustainably restart and develop the Bunker Hill mine as the first step in consolidating a portfolio of North American mining assets with a focus on silver and critical metals.

We seek Safe Harbor.