Bunker Hill Mining Corp. provided an update on its planned resource conversion and exploration activities for 2024. Project Update: Engineering of the main Process Plant is advancing on track with deep pier establishment scheduled to commence in the next month as part of geotechnical stabilization and preparation of the land for the construction of the Process Plant and Tailings Filtration Plant within the Bunker Hill Yard.

Preparations are ongoing to move all administrative and other staff out of the existing office buildings before they are demolished next month. This will create extra space in the yard for the Tailings Filtration Plant and associated material handling. Administrative and Technical Staff will be moving into new facilities, adjacent but outside to the processing Yard, thereby reducing foot and vehicle traffic within the processing yard.

Up the hill from the Bunker Yard, and adjacent to the expanded Russell Tunnel, the Wardner Mining Operating Yard has recently received an office building which was transferred from Teck?s Pend Oreille closed mine site. This mining operating base is also benefiting from additional investment into surface maintenance facilities and supporting infrastructure, sufficient to support ongoing and planned refurbishment of the underground infrastructure. This includes the installation of refurbished ventilation systems, before starting planned UG Resource Conversion, Expansion and Exploration drilling.

Exploration Value-Creation Strategy: The graphic below outlines the three components of the planned 2024 exploration plan: (1) Resource Conversion, (2) Near Mine Resource Expansion and (3) New Target Exploration. The planned work program for 2024 is expected to cost $715K and is expected to include 2500m of core drilling. Following the establishment of upgraded UG ventilation systems, and starting in April 2024, a 2500m UG drilling program is planned to commence which intends to convert 6.9M tons of inferred mineralization into M&I resources.

A conversion rate of >75% is anticipated, which has the potential to add >5 years to the current life of mine. The results of this drilling is expected to inform an updated resource statement which the Company plans to issue in fourth quarter of 2024.