Slide 1: Corporate Presentation
CORPORATE TSX: BNKR OTCQB: BHLL PRESENTATION
Slide 2: Cautionary Notes
CAUTIONARY NOTES Reader Advisory – Industry and Market Data This presentation includes market and industry data obtained from various publicly available sources and other sources believed by Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) to be true. Although the Company believes it to be
Slide 3: Cautionary Notes - continued
CAUTIONARY NOTES - continued the expected economic returns of the planned restart of the Bunker Hill Mine; the expected potential impact of the restart plan to create jobs, ensure long-term environmental-management partnerships, and drive the long-term development of the Bunker Hill Mine’s resources
Slide 4: Bunker Hill Mining Restart
BUNKER HILL MINING RESTART Project is now complete Expanded land package to 6,283.7 acres Exploration to restore historic 50/50 silver to zinc ratio Bunker 2.0 expansion to 2,500 tpd with US$150M EXIM support Additional Silver Valley synergies and other consolidation potential TSX:BNKR | OTCQB:BHLL
Slide 5: Project Location, Synergies and Advantages
PROJECT LOCATION, SYNERGIES AND ADVANTAGES Located in a world-leading mining jurisdiction in the USA - suitable for consolidation PROCESSING CAPACITY IN THE SILVER VALLEY (TPD) • 100% private land, 406 patented mining claims • 1,800 tpd Plant, $0.06/kWh grid power and highway access to Trail Smelter
Slide 6: 1,800 tpd Processing Facility to Feed Teck's Trail Smelter
1,800 TPD PROCESSING FACILITY TO FEED TECK’S TRAIL SMELTER Complete with phased commissioning of Processing Plant underway New 1,800 tpd processing facility at Kellogg Primary & secondary crushing feeds mill and >80% recovery rate for all Site differential flotation circuits to produce zinc and meta
Slide 7: Positioned on the Lower Half of the Cost Curve
POSITIONED ON THE LOWER HALF OF THE COST CURVE With significant optimization opportunities • In-house low-cost mining: Long-hole, open-stoping with paste backfill • Portal access, simple local logistics and access to the Spokane industrial centre • Residential management • Legacy advantages: Vast qu
Slide 8: Expansion Potential Beyond Mine Restart
EXPANSION POTENTIAL BEYOND MINE RESTART To extend LOM while returning to a 50/50 silver-base metals revenue mix • Increase the mine life: Expansion plan based on M, I, Grades Contained Metal and M & I within PFS and assumes 75% conversion rate ZnEq Ag Pb Zn ZnEq Ag Pb Zn K Tons of Indicated, 50% con
Slide 9: Expansion Potential Beyond Mine Restart
EXPANSION POTENTIAL BEYOND MINE RESTART Existing plan shows significant increase in cash flow generation as more silver produced Years 1-5 Years 6-11 Based on 75% drill conversion rate of inferred resources 55 Increase in free cash flow generation achieved by access to higher-grade galena mineraliza
Slide 10: Significant Exploration Upside to Be Unlocked
SIGNIFICANT EXPLORATION UPSIDE TO BE UNLOCKED Established but under-explored part of a major silver district Bunker Hill produced >165 Moz silver and >5Mt base metals from >35Mt of ore, deposit remains open for expansion Significant exploration potential with higher-grade silver open at depth Substa
Slide 11: Integrated District Geology
INTEGRATED DISTRICT GEOLOGY Widely considered the most prospective unexplored opportunity in the Silver Valley ✓ Increase Throughput by 38% from 1800 to 2500 TPD ✓ 54% increase in annual Silver Produced, to 920Koz Over 2000’ unexplored ✓ 22% reduction in AISC mineralized strike length TSX:BNKR | OTC
Slide 12: VRIFY Zn-Ag + Radiometric Highs + Geologic Lineaments
VRIFY ZN-AG +RADIOMETRIC HIGHS + GEOLOGIC LINEAMENTS VPS correlation over IP chargeability highs • Bunker Hill–analog signature: Coincident IP chargeability highs and VRIFY Prospectivity Score integrating radio metrics (U, Th, REE), structural lineaments, and elevated Ag–Zn geochemistry. • Highly pr
Slide 13: Significant Exploration Upside Remains
SIGNIFICANT EXPLORATION UPSIDE REMAINS Significant exploration potential with higher- grade silver mineralization open at depth TSX:BNKR | OTCQB:BHLL | www.bunkerhillmining.com Page 13
Slide 14: 2026 Exploration Program
2026 EXPLORATION PROGRAM Target #1 - Motor Vein Target #2 Ranger Page Target #3 Government Gulch Greenfield Near Mine Silver Target Follow Up on 2025 Page Mine-Wyoming Vein New Large-Scale Greenfields Discovery Potential Drilling Success • >8,000 feet of drilling planned • Initial testing with 7,500
Slide 15: Discovery of New High-Grade Silver-Lead Veins
DISCOVERY OF NEW HIGH-GRADE SILVER-LEAD VEINS Francis Vein: 972k tons at 11.84% Pb, 5.68 oz/ton Ag and 4.47% Zn, containing 115.1k tons lead, 5.52M ounces of silver and 43.4k tons of zinc Francis FW Vein: 117.6 k tons at 8.2% Pb, 4.47 oz/ton Ag, and 1.56% Zn, containing 9.6k tons lead, 525.7k ounces
Slide 16: Peer Positioning
PEER POSITIONING Well-positioned to re-rate to junior silver production peers $523 $500 EV/Production Production 16.0 $450 14.5 14.0 $412 $404 $400 $377 $369 12.0 $349 $350 EV/Production (US$/oz AgEq) 2025 Production (Moz AgEq) 9.9 10.0 $300 Average EV/Production: US$276/oz AgEq $250 8.0 7.5 Signifi
Slide 17: Bunker Hill 2.0 Expansion Project
BUNKER HILL 2.0 EXPANSION PROJECT Using existing mineral inventory, a 2,500 tpd operation with a 13-year LOM US EXIM Bank LOI US$150M Illustrative Bunker Hill 2.0 Expansion Project Current Mineral Resource (before M&I: 7 Mt @ 1.00 opt Ag, 2.40% Pb, 5.44%Zn The funding will enable the Company to expe
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TSX:BNKR | OTCQB:BHLL | www.bunkerhillmining.com Page 18
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Slide 21: Eric Sprott
Eric Sprott TSX:BNKR | OTCQB:BHLL | www.bunkerhillmining.com Page 21
Slide 22: Looking Ahead
LOOKING AHEAD Multiple opportunities for re-rating over short-term PRODUCTION VALUATION RE-RATING SILVER UPSIDE RE-RATING ORGANIC EXPANSION RE-RATING Mine to be in production in H1|26; Exploration to return mine to its historic Expansion funded with cash flow ramping up to1,800 tpd 50/50 silver-base
Slide 23: Capital Structure & Shareholders
CAPITAL STRUCTURE & SHAREHOLDERS Strong support from strategic partners SHARE STRUCTURE – SEPTEMBER 2026 Current Basic Shares Outstanding 47.2M Warrants 17.9M Options 1.1M RSU’s 0.3M CURRENT SHAREHOLDERS Teck Resources Limited 27% Retail 40% Sprott Resource Streaming & Royalty 19% Institutions 13% M
Slide 24: Experienced Leadership
EXPERIENCED LEADERSHIP Tier One Management Team Richard Williams Sam Ash Bradley Barnett Executive Chairman President & CEO Chief Financial Officer Directors Richard Williams Mark Cruise Kelli Kast Sam Ash Pam Saxton Tom Francis Mark Hayes Brenda Dayton General Manager General Counsel VP Investor Re
Slide 25: Brenda Dayton
Brenda Dayton Vice President, Investor Relations T: 604.417.7952 brenda.dayton@bunkerhillmining.com Page 25