Bunker Hill Announces Decision to Issue Shares to Settle Financing Charge Page 1

VANCOUVER, British Columbia, Sept. 5, 2024 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (“Bunker Hill“ or the “Pursue”) (OTCQB: BHLL) announces that it has resolved to issue 506,775 ordinary shares (the “Shared times”) at a deemed issue price of C$0.16 per share to a designated creditor of the Company (the “Creditors”) to pay in full the financing cooperation fee owed to the Creditor in the total amount of US$60,000 for a period of three (3) months beginning on April 1, 2024 and ending on June 30, 2024 (the “Q2 Cooperation fee”) under the terms of a financing cooperation agreement dated 27 September 2022 (the “Cooperation agreement“) between the company and the creditor.

The Cooperation Agreement provides, among other things, that the Creditor and its subsidiaries will provide certain securities to enable the Company to provide certain guarantees in respect of the Bunker Hill Mine (the “Collateral”). In exchange for the security, the Company is obligated to pay the creditor a financing fee of $20,000 per month during the term of the Cooperation Agreement. The Company has elected to issue the shares in lieu of a cash payment for the Q2 Cooperation Fee in order to preserve its cash for the potential restart and ongoing development of the Bunker Hill Mine.

The transaction is subject to all regulatory approvals, including but not limited to the approval of the TSX Venture Exchange (the “TSX-V”). Following issuance, the Shares will be subject to a four-month and one-day hold period under applicable Canadian securities laws. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or U.S. state securities laws and may not be offered or sold in the United States absent registration under the U.S. Securities Act and all applicable state securities laws or the requirements of an applicable exemption therefrom.

ABOUT BUNKER HILL MINING CORP.

Under Idaho's leadership, Bunker Hill intends to sustainably rebuild and develop the Bunker Hill Mine. This is the first step in consolidating and subsequently optimizing a number of mining assets into a high-quality operating portfolio that will initially be located in North America. Information about the Company can be found on its website at www.bunkerhillmining.com or on SEDAR+ and EDGAR databases.