Bunker Hill Announces Closing of “Bought Deal” Private Placements of Units for Gross Proceeds of Approximately C$52 Million

KELLOGG, Idaho and VANCOUVER, British Columbia, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX-V: BNKR |OTCQB: BHLL) is pleased to announce that it has closed its previously announced bought deal private placement of units of the Company (the “Units”). The Company issued (i) 206,250,000 Units at a price per Unit of C$0.12 for gross proceeds of C$24,750,000 (the “CAD Offering”), which includes the full exercise of the underwriters’ over-allotment option; and (ii) 225,000,000 Units at a price per Unit of US$0.08711 for gross proceeds of US$19,599,750 (C$27,104,494¹) (the “USD Offering”, and together with the CAD Offering, the “Offering”). The total gross proceeds of the Offering, expressed in Canadian Dollars was C$51,854,494.² Teck Resources Limited (together with its affiliates, “Teck”) subscribed for 223,786,706 Units of the USD Offering.

Each Unit consists of one share of common stock of the Company (a “Common Share”) and one common share purchase warrant of the Company (a “Warrant”). Each Warrant entitles the holder thereof to purchase one Common Share (a “Warrant Share”) at an exercise price of C$0.17 per Warrant Share for 60 months after issuance.

The Offering was completed by a lead underwriter, acting on its own behalf and on behalf of a syndicate of underwriters (the “Underwriters”).

Net proceeds of the Offering are anticipated to be used to support the construction, start-up and ramp-up of the Bunker Hill Zinc-Silver-Lead Mine in the Silver Valley, Idaho.

Immediately prior to the date hereof, Teck beneficially owned, directly or indirectly, or exercised control or direction over, 219,079,378 Common Shares and warrants to purchase an additional 100,598,716 Common Shares, representing approximately 23.6% of the issued and outstanding Common Shares on a non-diluted basis and approximately 31.1% on a partially diluted basis. Upon closing of the Offering, Teck now beneficially owns, directly or indirectly, or exercises control or direction over 442,866,084 Common Shares and warrants to purchase an additional 324,385,422 Common Shares, representing approximately 32.6% of the issued and outstanding Common Shares on a non-diluted basis and, assuming the exercise of all warrants now held by Teck, approximately 45.6% on a partially diluted basis.