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Bunker Hill Mine

Mineral Resource

The ongoing drilling campaign is being informed using its recently completed 3D geologic model which leverages historical mine data collected over a 95-year period. Data has been inputted from over 180,000 meters of drilling from 3,500 historic drill-holes and hundreds of detailed historic mine geology maps capturing all major faults and veins, alterations, mineralization and stratigraphy.

The Bunker Hill Mineral Resource, effective November 29, 2021, reported at a zinc cutoff grade of 3.3% is described below:

    Grades Contained Metal
  K Tons ZnEq
(%)
Ag
(opt)
Pb
(%)
Zn
(%)
Ag
(koz)
Pb
(klbs)
Zn
(klbs)
                 
Measured (M) 2,229 8.39% 1.04 2.51% 5.52% 2,309 111,975  246,046
Indicated (I) 4,385 8.42% 1.02 2.42% 5.63%   4,484 212,519 493,902
Total M&I 6,614 8.41% 1.03 2.45% 5.59% 6,793  324,495 739,948
Inferred 6,749 8.58% 1.54 2.91% 5.01% 10,410 392,757 669,358

Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resource will be converted into Mineral Reserves. Bunker Hill Mineral Resource Estimate-Mineralization Underground Accessible – Economic at Metal Selling Prices of $23 Per Ounce Ag, $1.00 Per Pound Zinc and $0.80 Per Pound Lead. Resources Estimated at a 3.30% Zinc Cutoff Grade. Qualified Person: RDA, Scott Wilson, CPG; Effective November 29, 2021.

The Company’s ongoing exploration drilling program from surface and underground focused on targets in the upper levels of the mine located in close proximity to existing infrastructure, is aimed at expanding the resource base for the PEA. Recently completed drill results have increased the Company’s confidence in its capacity to continue to grow the resource base.

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