Bunker Hill Mining (BNKR) investor relations material

Project status and development

• Project is 81% complete and on track for first production in H1 2026, with phased commissioning underway.

• Expanded land package to 6,283.7 acres, including the Ranger-Page acquisition.

• Bunker 2.0 expansion targets 2,500 tpd throughput, supported by $150M EXIM Bank funding.

• Processing plant construction is 90% complete; tailings filter plant is 60% complete.

• Fully permitted with 98% procurement concluded and strong partnerships with federal and state agencies.

Operational and financial highlights

• Positioned on the lower half of the zinc cost curve, with AISC significantly below industry risk thresholds.

• In-house low-cost mining methods and legacy infrastructure support operational efficiency.

• 1,800 tpd processing facility achieves >80% metal recovery, with clean concentrates trucked to Teck's Trail Smelter.

• Expansion to 2,500 tpd will extend mine life to 13 years and increase annual silver and zinc output by over 30%.

• Significant increase in free cash flow projected as higher-grade silver zones are accessed.

Exploration and resource potential

• Over 165 Moz silver and 5 Mt base metals historically produced; deposit remains open for expansion.

• Substantial exploration upside with multiple high-priority targets defined by recent surveys.

• Expansion plan aims to restore a 50/50 silver-base metals revenue mix and increase resource quality.

• Most of the 2,300-hectare land claim package remains underexplored, with significant depth potential.

• Integrated district geology and analog signatures indicate meaningful scale for new discoveries.