Bunker Hill Mining Corp · TSX:BNKR
Bunker Hill Mining — Investor Presentation (October 2022)
24 slides from Bunker Hill Mining's investor presentation, October 2022
Slide 1: Exceptional Value Creation Through Regeneration
BNKR:CN BNKR:CN BHLL: OTCQB A2PK9X:WKN EXCEPTIONAL VALUE CREATION THROUGH REGENERATION OCTOBER 20221
Slide 2: Cautionary Notes
BNKR:CN CAUTIONARY NOTES Cautionary Notes Regarding Forward Looking Information Certain statements in this presentation are forward-looking and involve a number of risks and uncertainties. Such forward looking statements are within the meaning of that term in Section 27A of the Securities Act of 193
Slide 3: Exceptional Value Creation Through Regeneration
BNKR:CN EXCEPTIONAL VALUE CREATION THROUGH REGENERATION Bunker Hill: Prolific cornerstone asset of a multi-asset North American portfolio STRONG TEAM OF EX-BARRICK EXECUTIVES TOP MINING JURISIDICTION LONG-TERM, SUPPORTIVE SHAREHOLDERS Coeur d’Alene Bunker Hill Mine Richard Williams Sam Ash David Wie
Slide 4: North American Growth Pipeline
BNKR:CN NORTH AMERICAN GROWTH PIPELINE Focus on regeneration of closed or distressed mines to yield financial returns and impact CURRENT LOW-ENTRY COST REGENERATION TARGETS STRATEGIC OPPORTUNITY • ~1m Closed Mine Sites in N America, containing vast amounts of useful metal to support transition to lo
Slide 5: The Bunker Hill Mine: A Brief History
BNKR:CN THE BUNKER HILL MINE: A BRIEF HISTORY Prolific past-producing US mine reborn under new management 1885 – 1981: 1981 – 2016: 2016 – 2020: 2020 – PRESENT: ICONIC USA SHUT DOWN & CARE & NEW TEAM BASE-SILVER MINE CLEAN UP MAINTENANCE RESTART UNDERWAY • Original discovery by Noah • Shut down in 1
Slide 6: Prolific Cornerstone Asset in Top Mining Jurisdiction
BNKR:CN PROLIFIC CORNERSTONE ASSET IN TOP MINING JURISDICTION District scale mineral endowment, extensive infrastructure, top mining jurisdiction (Idaho, USA) • Produced >165M oz silver and >5Mt Grades Contained Metal base metals from >35 Mt of Ore ZnEq Ag Pb Zn ZnEq Ag Pb Zn K Tons (%) (opt) (%) (%
Slide 7: Supplying Green Metals for Low-Carbon Transition
BNKR:CN SUPPLYING GREEN METALS FOR LOW-CARBON TRANSITION Zinc and silver comprise 78% of Bunker Hill M&I Mineral Resource ✓ Zinc designated as a strategic metal by US government in November 2021 ✓ Bunker Hill potentially >10% of US zinc production (lower 48 states) by 2024 Misc 4% Chemicals Galvaniz
Slide 8: Low Capex, De-Risked Restart in Top Mining Jurisdiction
BNKR:CN LOW CAPEX, DE-RISKED RESTART IN TOP MINING JURISDICTION Bunker Hill is the only new zinc-focused US mine coming online in the next 5 years Possible New North American Zinc Mines – Next 5 Years Bunker Hill Advantages: $420 ✓ Excellent jurisdiction: Idaho, USA ✓ No permitting constraints $307
Slide 9: Phase 1 Prefeasibility Restart Plan
BNKR:CN PHASE 1 PREFEASIBILITY RESTART PLAN PFS outlines high margin initial restart plan leveraging vast existing infrastructure $52 36% 2.1 $55 million million After-Tax Year Initial NPV 8% IRR Payback CAPEX After-tax Period Over 16 mo 5 Year $0.77/lb Zn >$25 High-Grade Silver Initial AISC million
Slide 10: Free Cash Flow: Prefeasibility Study vs. PEA
BNKR:CN FREE CASH FLOW: PREFEASIBILITY STUDY VS. PEA Significant improvement in cash flow generation over initial 5 years Years 1-5 Years 6-11 PFS: $131M (M&I Resources only) PFS: NA (does not include Inferred Resources) PEA: $85M (primarily M&I Resources) PEA: $180M (primarily Inferred Resources) 5
Slide 11: Large Mineral Endowment - Long Mine Life Expected
BNKR:CN LARGE MINERAL ENDOWMENT - LONG MINE LIFE EXPECTED Demonstrated reserve replacement over nearly a century of production 2022 PFS Mine Life* 3.2 12.2 6.8 4.8 4.6 4.1 4.0 3.5 4.7 4.3 4.0 6.3 4.6 3.9 4.1 5 (Last 15 Years) 5,000,000 900,000 4,500,000 800,000 4,000,000 700,000 3,500,000 Historic R
Slide 12: Focus on Shallow Resources Near Infrastructure
BNKR:CN FOCUS ON SHALLOW RESOURCES NEAR INFRASTRUCTURE ‘Phase 1’ PFS: rapidly achieve cash flow above existing water level to initiate restart UTZ Cut and Fill Level 5 – Level 6 Quill – Newgard LHOS Level 6 - Level 16 5 Level Russell Tunnel 9 Level Kellogg Tunnel 4 Level – 6 Level Tailings Storage V
Slide 13: Construction-Ready Mill & Extensive Infrastructure
BNKR:CN CONSTRUCTION-READY MILL & EXTENSIVE INFRASTRUCTURE Mill demobilization complete, adds to extensive existing infrastructure and equipment Photo 5: Balls mills, flotation • Pend Oreille mill cells and lime silo unloaded in BH demobilization and yard transport to Bunker Hill complete • Located
Slide 14: Proven, Locally-Based Executive and Operations Team
BNKR:CN PROVEN, LOCALLY-BASED EXECUTIVE AND OPERATIONS TEAM Highly skilled and motivated team, supported by partners and enthusiastic local community KEY LOCAL TEAM AND PARTNERS • Sam Ash (CEO): Ex Barrick GM, Lumwana mine • Personally overseeing all aspects of development • Brad Barnett (VP Sustain
Slide 15: Planned Development Timeline
BNKR:CN PLANNED DEVELOPMENT TIMELINE Commercial production targeted within 18 months Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 • Engineering work 22 22 22 22 23 23 23 23 o Mine plan and design: MineTech o Plant Engineering: Barr Engineering PFS results published Studies (PFS) o Geotech: Golder o Metallurgy: SGS Mill
Slide 16: Significant Phase 2 Value Creation Potential
BNKR:CN SIGNIFICANT ‘PHASE 2’ VALUE CREATION POTENTIAL Illustrative upside potential from optimization, mine life extension, metal prices, exploration BUNKER HILL MARKET CAP: $18M >200 Further optimization Mine life extension NPV (8%) (post-tax) ($M) Exploration Metal prices: >$1.25/lb Zn >$0.95/lb
Slide 17: $66 Million Project Finance Package with Sprott
BNKR:CN $66 MILLION PROJECT FINANCE PACKAGE WITH SPROTT Funds majority of expected requirements through commercial production Royalty Series 1 Series 2 Multi Convertible Convertible Convertible Metals Debenture Debentures Debentures Stream Amount $8M $6M $15M $37M Maturity Until Stream advance March
Slide 18: Shallowest Worked Depth in the Silver Valley
BNKR:CN SHALLOWEST WORKED DEPTH IN THE SILVER VALLEY Produced 160 million silver ounces to first 4,000 feet below surface Bunker Hill Sunshine Coeur Galena Star-Morning Lucky Friday 0 165 365 40 190 75 110 million million million million million million -2,000 silver silver silver silver silver silv
Slide 19: Geophysics Identifies Large-Scale, Shallow Anomalies
BNKR:CN GEOPHYSICS IDENTIFIES LARGE-SCALE, SHALLOW ANOMALIES ~1,200 acres of previously unexplored ground tested for near-surface drill targets • First ever high-res model of IP geophysical data • Two key large-scale, near-surface anomalies identified for follow-up 1. Rockford o Similar lithologic s
Slide 20: Joint Venture to Explore London Mining District
BNKR:CN JOINT VENTURE TO EXPLORE LONDON MINING DISTRICT Successful environmental remediation project opens path to sustainable redevelopment • Opportunity to earn 50% interest in mineral rights in patented land package >3,000 acre in Colorado, USA • Includes London Mine with historic production of o
Slide 21: Extensive Land Package and Exploration Targets
BNKR:CN EXTENSIVE LAND PACKAGE AND EXPLORATION TARGETS Previous exploration programs planned and never conducted Significant Exploration Potential • 3 main zones identified for future exploration • Wide range of mineralization styles, many physical and remote sensing exploration methods available •
Slide 22: ESG at Core of Innovative Value Creation Strategy
BNKR:CN ESG AT CORE OF INNOVATIVE VALUE CREATION STRATEGY Multiplying long-term regenerative impacts on local community and environment 22
Slide 23: Objectives Achieved - Rapid Restart Now in Sight
BNKR:CN OBJECTIVES ACHIEVED - RAPID RESTART NOW IN SIGHT Focus on key technical milestones to continue value creation RESULTS DELIVERED CATALYSTS COMING ✓ Revamped Board and management • Advance of $37M Stream ✓ Updated NI 43-101 Resource Estimate • Construction decision • TSX-V listing ✓ Two PEA’s
Slide 24: Bunker Hill Mining Corp.
BNKR:CN BUNKER HILL MINING CORP. EXCEPTIONAL VALUE CREATION THROUGH REGENERATION For more information, please contact Investor Relations: IR@bunkerhillmining.com +1 (208) 370-3665 Bunkerhillmining.com BNKR: CN BHLL: OTCQB A2PK9X:WKN 24
Bunker Hill Mining — Investor Presentation (October 2022) on 6ix