An anonymous director reports

BUNKER HILL ANNOUNCES ELECTION TO ISSUE SHARES IN SATISFACTION OF DEBENTURE INTEREST PAYMENT OBLIGATIONS

Bunker Hill Mining Corp. has elected to issue an aggregate of 6,398,439 shares of common stock of the company (the interest shares) to certain holders of 7.5 per cent convertible debentures (the Series 1 convertible debentures) and 10.5 per cent convertible debentures (the Series 2 convertible debentures and, together with the Series 1 convertible debentures, the convertible debentures) in full satisfaction of the interest payable thereunder as of March 31, 2024, in the aggregate amount of $511,875 (U.S.) (the interest payment). The convertible debentures mature on March 31, 2026.

In accordance with the terms of the convertible debentures, the company will issue the interest shares at a price of eight U.S. cents per interest share based on 90 per cent of the 10-day volume-weighted average trading price of the shares of common stock of the company on the TSX Venture Exchange on the trading days beginning on March 8, 2024, and ending on March 21, 2024.

In connection with the interest payment, the company will issue an aggregate of 6,161,459 interest shares to certain managed accounts of Sprott Private Resource Streaming and Royalty Corp. (Sprott Streaming) and, accordingly, the issuance of such interest shares to Sprott Streaming will constitute a related-party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Shareholder Approval. The company will rely on exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 as neither the fair market value of the interest shares to be issued to Sprott Streaming, nor the consideration received for such interest shares, will exceed 25 per cent of the company's market capitalization. The company did not file a material change report more than 21 days prior to the election to issue the interest shares as the pricing period only ended yesterday on March 21, 2024.

The issuance of the interest shares is subject to the terms and conditions of the convertible debentures as well as the receipt of all regulatory approvals, including, without limitation, the approval of the TSX Venture Exchange. Once issued, the interest shares will be subject to a four-month-and-one-day hold period in accordance with applicable Canadian securities laws and certain restrictions in accordance with applicable United States securities laws.

Additional details regarding the convertible debentures can be found in the company's news releases dated Dec. 20, 2021, Jan. 31, 2022, June 20, 2022, and June 26, 2023, all of which are available under the company's profiles on SEDAR+ and on EDGAR.

About Bunker Hill Mining Corp.

Under new Idaho-based leadership, Bunker Hill intends to sustainably restart and develop the Bunker Hill mine as the first step in consolidating and then optimizing a number of mining assets into a high-value portfolio of operations, centred initially in North America.

We seek Safe Harbor.