Bunker Hill Mining (BNKR) Corporate presentation summary

Project development and operational progress

• Restart project is 70% complete, targeting first production in H1 2026 at 1,800 tpd, with expansion to 2,500 tpd planned and $150M EXIM support secured.

• Processing plant is 88% complete, with final electrical and piping installation ongoing; tailings filter plant is 56% complete.

• Fully permitted site with 98% procurement concluded, leveraging existing infrastructure and low-cost power.

• Clean zinc and lead/silver concentrates will be trucked to Teck's Trail Smelter, with >80% metal recovery rates.

• Mine is positioned for low-cost mechanized underground mining, with significant optimization opportunities.

Resource base, expansion, and exploration

• Large mineral endowment with consistent reserve replacement over 90 years and a 5-year initial mine life per 2022 PFS.

• Expansion plan aims to extend mine life and restore a 50/50 silver-base metals revenue mix, with significant increases in free cash flow as more silver is produced.

• Measured and indicated resources total 7.0 Mt, with an additional 6.9 Mt inferred; probable reserves stand at 3.2 Mt.

• Substantial exploration upside remains, with the deposit open at depth and most of the 2,300 ha land package underexplored.

• Recent surveys have defined several high-priority targets for further drilling and resource growth.

Financials, capital structure, and peer positioning

• Strong support from strategic partners, including Teck (32% ownership), Sprott, and retail investors.

• Total debt outstanding is $76M, with $44M in total liquidity and $34M cash on hand as of January 2026.

• Well-positioned for a valuation re-rating upon achieving production, with peer comparisons showing significant upside.

• Expansion to 2,500 tpd projected to lower AISC to $0.60/lb Zn payable and increase annual AgEq production by 36%.

• Funding for expansion includes a $150M US EXIM Bank LOI, supporting rapid development and job creation.