Mr. Sam Ash reports

BUNKER HILL STARTS SURFACE DRILLING AT ITS RECENTLY ACQUIRED PAGE PROPERTY INTERSECTING 15' OF NEAR SURFACE CONTINUOUS SULFIDE MINERALISATION WITH FIRST HOLE

Having successfully completed the 14,300-foot, 39-hole underground campaign at the Cate-8 vein, Bunker Hill Mining Corp. has now started a 3,200 ft surface drilling program at the recently acquired Page property in the Silver Valley, three miles away from Bunker Hill's processing facility.

"As our operations team continue the steady ramp up to commercial production by the end of 2026, it is exciting to report that, following the positive results of their Cate-8 underground drilling campaign, the exploration team has hit, with their first drill hole, another area of highly prospective Galena-Siderite and Sphalerite mineralization near surface at our recently acquired Page property," said Sam Ash, president and chief executive officer of Bunker Hill. "This further supports the potential to be unlocked by the Bunker team in our 6,284-hectare portion of the prolific Silver Valley."

Exploration update

Bunker Hill's current exploration program is focused on identifying targets that could expand mineral resources in a cost-effective manner, with priority given to targets near surface and near existing mine infrastructure across its recently expanded property. These targets are identified primarily by analysis of historical mining and exploration data collected over 100 years, which Bunker Hill is reinterpreting using modern methods, including the use of AI (artificial intelligence) tools where appropriate. Historical data have not been fully verified by a qualified person, and there is no certainty that exploration of these targets will result in the delineation of additional mineral resources.

• The Cate-8 vein: The data collected from 14,300 ft of drilling over 39 shallow holes and samples collected from development that cut the mineralization are being assayed, collated and processed to support inclusion within an updated resource statement expected to be issued by end of Q4 2026.
  • Subject to further analysis and given its proximity to existing mine development, it is expected that any Cate-8 mineral resources will be included within the 2027 mine plan to be issued within the company's production guidance expected to be released at the end of Q4 2026.
• Initial Page exploration: Following up on historical surface drilling results achieved in 2025 by the previous owners of the property in the vicinity of the Page mine, the Bunker Hill exploration team has started 3,200 ft (975 m) of shallow drilling from 10 holes from surface. This is expected to take six weeks to complete. This site is accessed by paved and forest roads and is the same distance from the Bunker Hill processing plant as the Russell portal in Wardner.
  • Based on visual assessment, the initial results from the first hole indicate 15 ft of continuous Galena-Siderite and Sphalerite mineralization at a depth from surface of approximately 200 ft. Visual estimates of mineralization are not a substitute for laboratory assays and should not be relied upon as an indication of grade or the extent of mineralization, which can only be determined through assay results to be completed as the Page exploration campaign progresses.

Ramp up to commercial production

Active mining operations are being conducted within the upper area of the Bunker Hill mine, including development being cut through the recently discovered Cate-8 vein. Ore is being transported to the operating processing plant in line with the ramp-up schedule, and the commissioning of the processing plant and ramp up of mining are progressing in line with the company's target of achieving commercial production by the end of 2026. Safety remains a priority, with the company recording 553 consecutive days without a reportable incident.

During September, Bunker Hill fully commissioned the paste plant and on-boarded the fourth mining crew, enabling the start of continuous 1,800 tonnes per day (tpd) underground mining operations. Having used low-grade stockpiles for the early phases of plant commissioning, the underground team is now feeding run of mine ore into the plant at targeted head grade, from two active stopes on the 5 and 8-2 levels. Operating performance, including costs, remains in line with preproduction estimates.

To stretch the team's performance and mirror commissioning best practice, the company has revised its definition of commercial production, previously defined as achieving at least 65 per cent of 1,800 tpd nameplate throughput capacity only, to include metal recovery targets as well. From now, the operations required by end of Q4 2026 to achieve commercial production are: throughput of at least 65 per cent of nameplate capacity, and zinc/lead/silver recovery of at least 70 per cent, for 60 days.

2027 mine planning update

Subject to further analysis, including the results of the updated resource statement and further technical and economic evaluation, the mine planners are preparing to incorporate Cate-8 mineral resources into the 2027 to 2030 mine plan. The team is also investigating ways to overcome the existing single access/single egress constraint on mine haulage, which currently consists of the Russel portal in Wardner, located 3.5 miles from the processing plant.

To that end, studies are continuing now to evaluation the potential construction of a second 6,000 ft portal, located just over a mile from the processing plant with direct access to the 10 Level to enable a more efficient ore and waste haulage system. The company is also studying modifications to the processing plant to increase capacity to 2,500 tpd. In support of this, the company recently acquired 60 acres of land adjacent to and uphill from the processing facility for potential use as a dry-stack tailings facility.

The company currently expects to issue its production guidance for 2027 by the end of Q4 2026.

Qualified person

Sam Bourque (AIPG CPG No. 11775), 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. Mr. Bourque has reviewed and approved the technical information contained herein.

About Bunker Hill Mining Corp.

Bunker Hill Mining is a United States-based exploration and development company focused on the restart of its flagship asset -- the historic Bunker Hill mine in northern Idaho's prolific Silver Valley. This renowned silver, zinc and lead deposit is being advanced using modern exploration techniques and responsible development practices to unlock its full potential.

The company's strategy is centered on efficiently revitalizing this high-quality asset to deliver long-term value, while upholding strong environmental and operational standards. Bunker Hill is committed to maximizing shareholder returns through the disciplined redevelopment of one of North America's most storied mining operations.

We seek Safe Harbor.