Bunker Hill appoints Barnett as interim CFO, secretary

Executive Summary

• Bunker Hill Mining Corp. announced changes to its executive finance team, with Gerbrand Van Heerden resigning as CFO and being replaced by Bradley Barnett as interim CFO, alongside the promotion of Mark McBride to VP of Finance, to align leadership with U.S.-based operations.
• The company clarified details regarding its recently completed LIFE (listed issuer financing exemption) offering, specifying the number of units issued, warrant terms, and compensation options granted to agents.
• The restructuring aims to concentrate executive leadership in the USA to support the company's strategy of restarting operations in the first half of 2026 and transitioning to an operating mining company.

Key Details

• CFO Resignation: Gerbrand Van Heerden resigned as CFO and corporate secretary effective March 10, 2026, to return to southern Africa.
• Interim CFO Appointment: Bradley Barnett appointed as interim CFO and corporate secretary effective immediately. Barnett is a U.S. citizen and former VP of Sustainability at Bunker Hill, with over 30 years of experience including roles at Barrick Gold and in Afghanistan.
• VP Finance Promotion: Mark McBride promoted to Vice-President, Finance, effective immediately.
• Search for Permanent CFO: Company initiating a formal search for a U.S.-based permanent CFO.
• LIFE Offering Clarification:
  • Total units issued: 159,735,000 LIFE units (preconsolidated).
  • Brokered portion: 150,808,332 units.
  • Non-brokered portion: 8,926,668 units.
  • Unit Structure: Each unit consists of one common share and one common share purchase warrant.
  • Warrant Terms (Post-Reverse Split): Every 35 warrants entitle holder to purchase one common share at $10.50 per share for 36 months.
  • Compensation Options (Brokered): 8,773,833 options issued to agents and 265,667 options to ZED Financial Partners.
  • Compensation Option Terms: Every 35 options entitle holder to purchase one common share at $6.30 per share for 24 months.
  • Potential Dilution (Post-consolidated): Up to 4,563,857 common shares, up to 2,281,928 shares upon warrant exercise, and up to 258,272 shares upon option exercise.
• Strategic Context: Leadership changes support the goal of restarting operations in H1 2026 and achieving positive cash flow.

Notable Quotes

• "Gerbrand has done a superb job at Bunker Hill, helping to strengthen our balance sheet, building robust financial systems capable of supporting our transition into an operating mining company and ensuring the restart of operations in the first half of 2026. As the company seeks to have its team located in the USA, it became clear that a transition was the best path for both Gerbrand and the company and we wish him well in his next endeavours," — Richard Williams, Executive Chairman.
• "We welcome back Bradley Barnett as interim CFO and corporate secretary... As a seasoned, hard-charging executive, well known to our team and completely familiar with the realities of U.S. commercial, government and capital markets, he is very well placed to support our ramp-up to commercial production, positive cash flow and growth thereafter." — Richard Williams, Executive Chairman.