Bunker Hill Mining's Bunker Hill project 74% complete

Executive Summary

• Bunker Hill Mining Corp. provided a project update on the restart of its Bunker Hill mine in Idaho, confirming that total project completion is at 74% and remains on schedule and within budget for a restart in the first half of 2026.
• The company highlighted substantial progress in Q3, including strengthened balance sheet via recent financing and drilling results validating resource and grade expansion optimism.
• Key operational milestones include 83% completion of the processing plant construction, 98% procurement completion, and the commencement of underground ore stockpiling ahead of ramp refurbishment.

Key Details

• Project Schedule & Budget: Total project completion is at 74%; remains on schedule and within budget for restart in H1 2026.
• Procurement: Procurement is at 98%, with most equipment already on site.
• Processing Plant: Construction is 83% complete. The critical path item is the tailings filter press; concrete foundations are set and ready to receive the steel framework and filter press mechanism that week.
• Mining Operations:
  • Full refurbishment of the access ramp to Level 8 mining areas (through the Cate fault) is progressing to schedule and budget.
  • Access to initial mining stopes is in place.
  • The paste plant is being prepared for construction in the Wardner mining base.
  • Mobile equipment fleet upgrade is pending final negotiations on a lease-to-purchase agreement.
• Resource & Planning:
  • Detailed engineering and sequencing work is optimizing access to higher-grade zones and establishing haulage routes from upper levels through the main decline to Level 8.
  • Updated cost estimates, contingency allowances, and sensitivity analyses have been incorporated into the mine plan.
  • Planning assumptions remain robust under current market conditions, designed to generate strong margins across various metal price scenarios.
• Market Context: Zinc and lead markets have stabilized due to improving industrial demand and declining inventories. Silver benefits from structural deficits and demand from solar/electronics, though prices remain volatile.
• Safety: No lost-time incidents; compliance with all environmental management commitments.
• Upcoming Event: A webinar/webcast is scheduled for Oct. 21, 2025, at 8 a.m. PST/11 a.m. EST.

Notable Quotes

• "Our Idaho-based team is focused on playing our part in strengthening the U.S. metals supply chain. During the third quarter, we have made substantial progress towards restarting the mine in the first half of 2026. Our recent financing efforts have strengthened our balance sheet, and the drilling results continue to validate our optimism about resources and grade expansion." — Sam Ash, President and CEO