Mr. Sam Ash reports

BUNKER HILL ON TRACK FOR JUNE RESTART. PROVIDES CORPORATE UPDATE AND COMMISSIONING PROGRESS

Bunker Hill Mining Corp. has provided a corporate update highlighting continued and safe progress toward the restart of the Bunker Hill mine in Idaho's Silver Valley anticipated in June, 2026.

"As our growing team continues to execute safely to plan, we remain on track for the restart of Bunker Hill mine in June, delivering critical metal into the U.S. metals supply chain and creating U.S. mining jobs at a vital time," said Sam Ash, chief executive officer and president.

Commissioning progress and path to production

The company continues to advance commissioning across key circuits, with recent activities focused on mill, filter plant and systems testing, representing important milestones in the transition from construction to operations. These efforts are designed to validate system performance, optimize throughput and further derisk the project ahead of initial production. Bunker Hill remains focused on a disciplined, methodical commissioning process, with sequential system activation and testing proceeding in line with internal expectations.

Mining method update

Bunker Hill will access all underground mining areas via the enlarged and refurbished Russell Portal adjacent to the mining camp located above Warder. This portal is the gateway to a newly built internal ramp, which extends three kilometres from the portal entrance on the 4 Level down to the 9 Level and the Kellogg Tunnel, providing efficient vehicle access to these upper levels for mechanized mining.

The mining team intends to use longhole stoping as its primary underground mining method. This proven and efficient bulk mining technique is well suited to the geometry and continuity of the deposit. It enables the extraction of larger ore blocks with a high degree of mechanization, ensuring high productivity, lower unit costs and enhanced safety. The average stope size will be six metres (m) (width) by 12 m (height) by 30 m (length). The company's mine plan incorporates modern design and sequencing to optimize ore recovery while maintaining geotechnical stability.

A key component of the mining operation is the use of paste backfill, enabled by the company's tailings filtration plant. This new, state-of-the-art facility removes the water from the waste generated by the processing plant to produce a filter cake that can be combined with binders and returned underground to backfill mined-out stopes. This approach not only reduces geotechnical risks but also materially reduces the volume of tailings requiring surface storage in the company's dry-stack facility. It also supports improved water management by reducing free water in the tailings stream and lowering water treatment costs.

Supported by its recently procured and modern CAT mining fleet, the expanded mining team is now working 24 hours a day, seven days a week to complete the final development, expand the stockpiles to support commissioning and prepare the early stopes for mining; all of which is on track to support the anticipated restart in June.

This approach is endorsed by the United States federal and Idaho state regulatory frameworks governing mine operations, water quality and tailings management. By returning a significant portion of processed material underground, the company expects to minimize its surface disturbance footprint as requested by agencies including the U.S. Environmental Protection Agency and the Idaho Department of Environmental Quality.

"The combination of longhole stoping and paste backfill maximizes efficiency, safety and sustainability in ways that can optimize free cash flow generation," said Sam Ash, president and chief executive officer of the company. "It also aligns with regulatory expectations in the U.S., reduces our surface tailings footprint, and leverages existing permitted infrastructure, including the tailings filtration plant."

Silver-focused exploration program

The company is pleased to announce the start of an underground drill program from stations located on the 7 and 8 levels. This is specifically designed to support near-term mine planning and production readiness, while also targeting galena mineralization and the higher-grade silver therein with the goals of both expanding and upgrading the company's mineral resource base.

The initial phase will focus on infill and confirmation drilling within key areas of the current mine plan, with the objective of enhancing geological confidence, improving grade control and supporting detailed stope design as the company advances toward its targeted June, 2026, production restart. In addition, select stepout drilling will test extensions of known mineralization with the potential to add near-mine resources and exploration of several higher-grade silver targets located near infrastructure in the upper areas of the mine.

The underground drill program is expected to comprise approximately 25,000 feet of diamond drilling over the coming months, with results to be released on a continuing basis as they are received and compiled.

This underground campaign is to be joined by drilling from surface within both the Bunker Hill and Ranger Page properties from June, to investigate near-surface galena mineralization and high-grade silver targets for subsequent development.

"The start of this drill program marks an important step as we transition from development into production readiness," said Sam Ash, Bunker Hill's president and chief executive officer. "Our focus is on derisking the mine plan in advance of our targeted June, 2026, restart, while also seeking to unlock additional value through resource growth and increasing the silver content. The Bunker Hill mine is a prolific asset that produced 160 million ounces of silver before closing in 1981, and we see a meaningful opportunity to both enhance near-term cash generation and extend the mine's life."

The company will continue to provide updates as drilling progresses and as assay results become available.

U.S. cornerstone consortium and U.S. defence industrial base consortium membership

The company is pleased to announce that it has joined both the U.S. Cornerstone Consortium and the U.S. Defense Industrial Base Consortium, initiatives of the United States Department of War. Participation in these consortia is expected to provide the company with access to collaborative opportunities, funding pathways and strategic partnerships aligned with strengthening critical mineral supply chains and supporting U.S. defence industrial base priorities.

Formal registration for both consortia was completed recently. Management believes this engagement represents a major step in positioning the company within key U.S. government-supported frameworks focused on domestic resource security and industrial resilience.

The Cornerstone Consortium focuses on accelerating the development and commercialization of critical technologies and materials essential to national security, with an emphasis on fostering collaboration among industry, government and research institutions. The Defence Industrial Base Consortium, meanwhile, is designed to streamline engagement between private-sector participants and the U.S. Department of War, enabling more efficient access to funding opportunities, prototyping initiatives and programs that strengthen and scale domestic industrial capacity.

"Joining the Cornerstone Consortium and the Defense Industrial Base Consortium underscores the strategic importance of domestically sourced silver, zinc and lead to the U.S. defence and industrial base," said Bradley Barnett, interim chief financial officer of the company. "Zinc is essential for galvanization and corrosion protection across critical infrastructure and military applications, while also playing a role in emerging battery technologies. Lead remains a key material in energy storage, shielding and munitions. The emerging structural deficit in the silver market and stockpiling of physical silver in China underscore its strategic importance in electronics and technology applications. As we advance toward production, we believe our participation in these initiatives positions the company to play a meaningful role in reinforcing secure, North American supply chains for these vital materials."

Company completes the Toronto Stock Exchange uplisting

The company's recent uplisting to the Toronto Stock Exchange (TSX) marks a significant milestone in a turnaround journey that began with this new management team in 2020. Management expects that the uplisting will enhance Bunker Hill's visibility and accessibility to a broader base of institutional and retail investors. The uplisting is expected to support improved trading liquidity and facilitate increased engagement with the global mining investment community.

Warrant expiry

The company announces that a total of 263,096 common share purchase warrants with an exercise price of $5.25 expired on March 27, 2026. Prior to expiry, an aggregate of 1,475,249 (82 per cent) of the warrants originally issued were exercised for gross proceeds of approximately $6,363,807.

Management notes that the incremental capital provides limited but non-dilutive support to the company's near-term liquidity as it continues advancing commissioning and restart activities. Importantly, the removal of the warrant overhang simplifies the company's capital structure and may enhance investor clarity and positioning as the company approaches its targeted June, 2026, production restart at the Bunker Hill mine.

Qualified person

Sam Bourque, PGeo, chief geologist of Bunker Hill, is the company's designated qualified person for this news release within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and has reviewed and validated that the information contained in the release is accurate.

About Bunker Hill Mining Corp.

Bunker Hill is an American mineral exploration and development company focused on revitalizing its historic mining asset: the renowned silver, zinc and lead asset in northern Idaho's prolific Coeur d'Alene mining district (the Bunker Hill mine). This strategic initiative aims to breathe new life into a once-productive mine, leveraging modern exploration techniques and sustainable development practices to unlock the potential of this mineral-rich land package. Bunker Hill Mining aims to maximize shareholder value while responsibly harnessing the mineral wealth in their share of the Silver Valley mining district by concentrating its efforts on the restart of this high-potential mine.

We seek Safe Harbor.