Bunker Hill Mine Updated PEA Technical Report And Mine Restart Project Update

TORONTO - Bunker Hill Mining Corp. reported the filing of an updated independent Preliminary Economic Assessment (PEA) for the restart of the Bunker Hill Mine in the world-class Silver Valley region of Idaho, USA, and to provide a mine restart project update. The NI 43-101 compliant technical report was filed for updated PEA. The updated PEA contemplates materially improved financial returns from prior PEA: $143M NPV (+42% increase), 35% IRR, 2.6-year payback, $25M annual average FCF (+28% increase) at $1.15/lb Zn, $0.90/lb Pb, $20/oz Ag. A restart plan continues to be refined through progression of engineering, design, test-work and trade-off studies in support of the on-going project financing process, to support a construction decision by the end of Q1 2022. Critical workstreams include infrastructure engineering, mine plan optimization, metallurgical test work, geotechnical assessment, and preliminary process plant, paste and tailings engineering.

Sam Ash, CEO, said, “Building upon the work included within the updated PEA, and concurrent with our project finance process, we continue to advance engineering studies and mine planning sufficient to support a construction decision by the end of the first quarter of 2022. We remain focused on the sustainable restart of the mine and look forward to providing regular updates on these workstreams over the next few months.”