Bunker Hill closes Ranger-Page asset acquisition

Executive Summary

• Bunker Hill Mining Corp. (via subsidiary Silver Valley Metals) has closed the acquisition of the Ranger-Page project and a 75% interest in the Blackhawk property from Silver Dollar Resources, consolidating approximately 1,205 acres in Idaho’s Silver Valley.
• The transaction consideration is approximately $2.4 million USD, paid entirely in 23,333,334 shares of Bunker Hill common stock, subject to a contractual escrow and a six-month-and-one-day hold period.
• The company also announced a partnership with Vrify Technology to utilize AI-enabled exploration intelligence software (Dora) to analyze extensive historical geological data and prioritize drill targets for the Bunker Hill and Ranger-Page projects.

Key Details

• Acquisition Assets:
  • Ranger-Page Project: Option to acquire up to 100% interest in mineral interests covering six past-producing underground high-grade silver-lead-zinc mines adjacent to the Bunker Hill mine.
  • Blackhawk Property (Government Gulch): 75% interest acquired; includes surface and mineral interests.
  • Land Consolidation: Increases mineral claim package by approximately 1,205 acres (4.8 sq km).
  • Data: Includes an extensive historical geological database.
• Transaction Consideration & Structure:
  • Total Value: ~$2.4 million USD.
  • Payment: 23,333,334 shares of Bunker Hill common stock.
  • Escrow: Shares are subject to a contractual escrow payment schedule.
  • Hold Period: Six-month-and-one-day hold period from issuance date.
  • Amendments: First amending agreement (Nov 14, 2025) clarified escrow release terms and allowed limited third-party transfers of payment shares. Second amending agreement (Nov 21, 2025) extended due diligence to Nov 28, 2025, and termination date to Dec 12, 2025.
  • Finder’s Fee: None paid.
• Option Agreements Acquired:
  • Deadwood Land LLC Option:
    • Allows exercise by paying $1.5 million USD at any time before Nov 17, 2031.
    • Conveys 100% of mineral interests held by Deadwood; no surface rights currently, but rights to surface as reasonably necessary for mining.
    • Parties to negotiate in good faith for full surface rights acquisition.
  • Blackhawk Exploration LLC Option:
    • Company can acquire remaining 25% interest by negotiating terms with Blackhawk before Dec 31, 2025.
    • If not acquired, company retains 75% interest under joint venture terms.
• Royalty Obligations (NSR):
  • Blackhawk Property: Upon exercise of option, company must issue 0.5% NSR royalty to underlying vendors (0.5% can be bought down for $500,000 USD).
  • Deadwood Property: Upon exercise of option, company must issue 1.0% NSR royalty to underlying vendors.
  • JV NSR: If Blackhawk interest drops below 10%, the non-participating party is entitled to a 2% NSR royalty (1% may be bought back for $1 million USD).
• Vrify AI Partnership:
  • Objective: Enhance exploration efficiency using Vrify’s AI and machine-learning technology (Dora software).
  • Data Ingested:
    • 57,356 drill and trench assays.
    • 1,689 USGS rock samples.
    • 151 USGS stream sediment samples.
    • 46 geophysics layers (IP, airborne magnetics, gravity).
    • 12 bands of Sentinel 2 imagery.
    • 111 feature-engineered data layers.
    • 46 stream sediment geochemical layers.
    • 18 rock geochemical layers.
    • Four fault distance/disturbance maps.
    • 35 filter maps (Haralick and ResNet).
    • Six lineament density/complexity maps.
  • Strategy: Use AI to uncover patterns, refine exploration targets, and prioritize drill targets for near-mine extensions and depth extensions at Bunker Hill, and Page vein system at Ranger-Page.
• Corporate Governance Update:
  • Board approved increase in authorized common shares from 2.5 billion to 3.5 billion.
  • Approved by written consent of stockholders representing 53.36% of voting power.
  • Approved by TSX Venture Exchange.

Notable Quotes

• Sam Ash, President and CEO: "We are pleased to have completed the Ranger-Page transaction, which consolidates a highly prospective land package adjacent to our existing geological and operational footprint. The project's historical workings, established access and favourable structural trends provide a compelling platform for systematic resource definition and future mine-planning optionality."
• Sam Ash, President and CEO: "Integrating AI into our exploration tool kit represents an important step forward in our strategy to unlock the full potential of the Bunker Hill mine responsibly... positioning Bunker Hill among a select group of explorers pioneering AI-assisted mineral discovery."
• Steve de Jong, CEO of Vrify: "Dora... ensures every piece of project data contributes to identifying areas of high-potential mineralization... By combining deep geological expertise with advanced software that reveals structural relationships and subtle patterns across massive data sets, we're uncovering significant potential in collaboration with the Bunker Hill technical team."