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Bunker Hill Announces Agreement to Issue Shares for DSU Settlement

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Bunker Hill Mining Corp.
Bunker Hill Mining Corp.

VANCOUVER, British Columbia, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX-V: BNKR; OTCQB: BHLL) announces that it has entered into an agreement with a former director of the Company (the “Recipient”) with respect to the settlement of an aggregate of 1,051,787 vested deferred share units of the Company (the “DSUs”) previously granted to the Recipient for services rendered as a director of the Company for the 2022 and 2023 fiscal years (the “Settlement Agreement”).

Pursuant to the terms of the Settlement Agreement, the Company has agreed to issue 1,039,403 shares of common stock of the Company (the “DSU Shares”) to the Recipient at a deemed issue price of C$0.16 per DSU Share, representing the closing price of the shares of common stock of the Company (“Common Shares”) on the TSX Venture Exchange (the “TSX-V”) on October 7, 2024, in full settlement and satisfaction of the C$166,304.41 cash payment (the “Redemption Amount”) payable to the Recipient upon its redemption of the DSUs. The Company intends to issue the DSU Shares to preserve its cash for the potential restart and ongoing development of the Bunker Hill Mine.

The transaction remains subject to the receipt of all regulatory approvals, including, without limitation, the approval of the TSX-V. Once issued, the DSU Shares will be subject to a four month and one day hold period from the date of issuance in accordance with applicable Canadian securities laws in addition to any applicable U.S. hold periods. The DSU Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or in compliance with the requirements of an applicable exemption therefrom.

ABOUT BUNKER HILL MINING CORP.

Under Idaho-based leadership, Bunker Hill intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating and optimizing several mining assets into a high-value portfolio of operations initially centered in North America. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR+ and EDGAR databases.

On behalf of Bunker Hill Mining Corp.

Sam Ash
President and Chief Executive Officer

For additional information, please contact:

Brenda Dayton
Vice President, Investor Relations
T: 604.417.7952
E: brenda.dayton@bunkerhillmining.com