Silver47 Exploration Corp · TSXV:AGA
Silver47 Exploration — Bunker Hill Mining — Merger or Acquisition (August 2026)
29 slides from Silver47 Exploration's merger presentation, August 2026
Slide 1: Bunker Hill Mining & Silver47 Exploration: Made in America
BUNKER HILL MINING SILVER47 EXPLORATION BUNKER HILL MINING & SILVER47 EXPLORATION Made in America: A New Champion in U.S. Silver & Critical Minerals August 2026 TSX: BNKR / OTC: BHLL TSXV: AGA / OTC: AAGAF
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 timing of the closing of the transaction between the Company and Silver47 by way of court approved plan of arrangement (the “Transaction”) or whether the Transaction will be completed at all; the timing of the special meetings of the shareholders of the Company and S
Slide 4: Transaction Rationale & Benefits
TRANSACTION RATIONALE & BENEFITS Creating a New U.S. Silver Champion: 100% U.S. asset base combining Bunker Hill’s imminent cash - flow engine with a high - quality development pipeline. The Company is currently listed on the TSX, is pursuing a listing on the NYSE American, and a name change to Bunk
Slide 5: Transaction Summary
TRANSACTION SUMMARY • Proposed Transaction will be implemented by way of court approved plan of arrangement Transaction pursuant to the Business Corporations Act (British Columbia) Structure • Proposed pro forma name change to Bunker Hill Silver Corp. • Exchange ratio of 0.1724 Bunker Hill shares fo
Slide 6: Made in America: A U.S. Champion
MADE IN AMERICA: A U.S. CHAMPION 100% U.S. Platform: Four projects across Idaho, Nevada, New Mexico and Alaska; established mining jurisdictions with clear permitting frameworks, at a time when jurisdiction risk is repricing the sector. Bunker Hill America’s Silver Deficit: The U.S. imports ~77% of
Slide 7: Pro Forma Capital Structure
PRO FORMA CAPITAL STRUCTURE Increased Capital Markets Scale Strong Support from Strategic Partners Increased Capital Markets Scale & Strong Support from Strategic Partners Pro Forma Pro Forma Ownership CAPITAL Company 36% STRUCTURE (Bunker Hill Silver) 3% Institutions & Corporates Directors & Office
Slide 8: Tier One Pro Forma Management Team
TIER ONE PRO FORMA MANAGEMENT TEAM Board of Directors • Former COO of Barrick Gold (2015–2018), • Former Executive GM of Barrick's Lumwana delivering an 80% increase in operating profit Mine in Zambia, delivering over $100M in free Richard Williams and leading the reset of Barrick's relationship For
Slide 9: Significant Resource in the USA
SIGNIFICANT RESOURCE IN THE USA Pro Forma Company Boasts a Large High - Grade Endowment Located 100% Within the USA Pro Forma Resource Build -Up Developer Resource Producer Resource M&I Resource (Moz AgEq) Inferred Resource (Moz AgEq) M&I Resource (Moz AgEq) Inferred Resource (Moz AgEq) 450 Inferred
Slide 10: Pro Forma Positioning
PRO FORMA POSITIONING Substantial Re - Rate Potential as a Developer & Producer Developer Market Capitalization Developer Peer P/NAV Producer Peer P/NAV AbraSilver $1,895M AbraSilver 0.95x Aya 1.11x Vizsla $1,380M Capitan 0.74x Silver Tiger $410M Blackrock $335M Silver Mountain 0.65x Endeavour 1.05x
Slide 11: Creating a U.S. Champion of Silver & Critical Minerals Production & Development
CREATING A U.S. CHAMPION OF SILVER & CRITICAL MINERALS PRODUCTION & DEVELOPMENT Bunker Hill (Idaho): • 1,800 tpd Ag-Zn-Pb asset with first production achieved in June 2026, currently ramping up to commercial production • Bunker Hill 2.0 expansion to 2,500 tpd pushes annual production from +2,500 koz
Slide 12: Pro Forma Consensus Production Profile
PRO FORMA CONSENSUS PRODUCTION PROFILE PRO FORMA CONSENSUS PRODUCTION PROFILE SMOOTHING THE LASSONDE CURVE WITH DIVERSIFIED ASSET DEVELOPMENT TIMELINES • On the path to becoming a major U.S. silver producer with extensive upside across the entire portfolio • Results from ongoing Bunker Hill silver -
Slide 13: The Silver Valley: 1.2 Boz of American Silver
THE SILVER VALLEY: 1.2 BOZ OF AMERICAN SILVER America’s most productive and longest-lived silver district1 — and Bunker Hill holds one of its largest land package America’s most productive and longest - lived silver district 1 — and Bunker Hill holds one of its largest land package High -Grade, Long
Slide 14: Bunker Hill: Back in Production
BUNKER HILL: BACK IN PRODUCTION A 165 Moz historic silver producer restarted in June 2026, ramping to 1,800 tpd on 6,284 acres of private land 1,800 tpd Ag- Zn- Pb asset with first Current Ramp -Up Targeted Output Mix production now complete, currently ramping up to commercial production 1,800 165 M
Slide 15: New 1,800 tpd Mill – The Largest in the Silver Valley
NEW 1,800 TPD MILL – THE LARGEST IN THE SILVER VALLEY Construction complete; phased commissioning underway, with design capacity for 2,500 tpd 1,800 tpd Mill Largest in the Silver Valley District New 1,800 tpd processing facility at Primary & secondary crushing feeds mill and PROCESSING CAPACITY IN
Slide 16: Expansion Potential Beyond Mine Restart
EXPANSION POTENTIAL BEYOND MINE RESTART To extend LOM while returning to a 50/50 silver - base metals revenue mix Grades ContainedMetal • Increase the mine life: Expansion plan based on M,I, and M ZnEq Ag Pb Zn ZnEq Ag Pb Zn K Tons (%) (opt) (%) (%) (klbs) (klbs) & I within PFS and assumes 75% conve
Slide 17: The System Is Bigger Than the Mine
THE SYSTEM IS BIGGER THAN THE MINE A century of mining left high - grade intercepts unmined beside the workings, half the property unexplored and Ranger -Page Bunker Hill everything below 3,850 ft untouched Unmined historical intercepts around the workings 6 4 7 1. 741 g/t AgEq over 4.6m (375 g/t Ag
Slide 18: Hughes Project Highlights
HUGHES PROJECT HIGHLIGHTS Robust Resource on the Prolific Walker Lane INDICATED Significant Resource 10.26M upside with drilling in AgEq progress N Contained within 0.96 Mt 333 g/t AgEq TONOPAH WEST Over 90% of the PROJECT resource occurs HUGHES INFERRED PROJECT within Private Land 32.91M AgEq Conta
Slide 19: Extending the Historic Tonopah District
EXTENDING THE HISTORIC TONOPAH DISTRICT 7,000 m of drilling on - going pursuing Emerald main structure east of the district Strong Alteration Historic Tonopah Mining District 175M oz Ag, 1.86M oz Au Potential to extend prolific Tonopah 679 g/t Ag, 7.3 g/t Au** District an additional 4.2 km Eastern E
Slide 20: Hughes Tailings
HUGHES TAILINGS Near- Term, Low- Capital Production Potential from Historic Tailings INFERRED: TAILINGS 2.74M Metallurgical Testwork Ongoing AgEq Contained within 1.26 Mt to Confirm Reprocessing Potential of Historic Mine Tailings 68 g/t AgEq Located exclusively on Potential Low -Capital opportunity
Slide 21: Red Mountain Highlights
RED MOUNTAIN HIGHLIGHTS INFERRED 10,000 m drill program K 168.6M AgEq ongoing to target both Tons Contained within 15.6 Mt resource growth and new 336 g/t AgEq polymetallic occurrences Grade: Both Resource zones host multiple intercepts over 2,000 g/t AgEq * Scale: Only 2 out of 35 mineralized prosp
Slide 22: Dry Creek Long Section
DRY CREEK LONG SECTION LEGEND DC18-79 DC98 -40 DC25-111 1,988 g/t AgEq over 6.10m DC25-108 Drill Hole Pierce Point 216 g/t AgEq over 12.35m 672 g/t AgEq over 36.10m >500 AgEq* 344 g/t AgEq over 12.30m >150 AgEq* K <150 AgEq* Tons Surface Planned Pit Shell DC18-77 DC25-113 1,333g/t AgEq over 6.80m 60
Slide 23: 2026 Exploration Program
2026 EXPLORATION PROGRAM DRY CREEK DEPOSIT LAST CHANCE CORRIDOR DRY CREEK SYNCLINE Targeting Resource Growth SILVER47 DRILLING at Dry Creek : 3,000 m will • 24.5 m of 486 g/t AgEq * focus on expanding the (55 g/t Ag, 1.99 g/t Au, 4.08% Zn, 1.32% Pb, 0.10% Cu) inferred 168.6 million silver • 22.3 m o
Slide 24: Mogollon Project Highlights
MOGOLLON PROJECT HIGHLIGHTS Total Size: 7,730 acres 3,652 g/t AgEq* INFERRED 221 g/t Ag, 39.3 g/t Au, 0.8% Cu (Dump) 32.08M AgEq Contained within 2.72 Mt N 6,956 g/t AgEq* 367 g/t AgEq 471 g/t Ag, 71.1 g/t Au, 4.2% Cu (Dump) 8,475 g/t AgEq* MRE covers only 2.4 of the 77 km 873 g/t Ag, 5.39 g/t Au, 4
Slide 25: Mogollon Project Long Section
LEGEND Drill hole pierce point Historic underground sample MOGOLLON PROJECT LONG SECTION >500 g/t AgEq* >100 g/t AgEq* Critical Mass Window on 2 km of Private Land >50 g/t AgEq* <50 g/t AgEq* 393 g/t AgEq* 7.4m Intercept Length MOG23-20 MOG23-21 MOG22-10 MOG22-05 393* 2,735* 1,133* 445* 640* 448* 1,
Slide 26: Bunker Hill Production Anchors a Catalyst-Rich Growth Pipeline
BUNKER HILL PRODUCTION ANCHORS A CATALYST -RICH GROWTH PIPELINE Q3 2026 Q4 2026 Q1 2027 Q2 2027 Production Re -Rating First Concentrate Produced at Bunker Commercial Production Achieve Commercial Production Operating Guidance Operating Guidance to be Provided Cate 8 Vein Extension Resource, Addition
Slide 27: Company Highlights
COMPANY HIGHLIGHTS U.S. Precious and Critical Minerals Strengthened Balance Sheet and Access to Developer and Producer Capital to Advance Exploration/Expansion Substantial Re -Rate Potential Greater Potential for Index Inclusion , Follow as Production Commences at Bunker Hill On Buying, and Further
Slide 28: Pro Forma Mineral Resource & Reserve Summary
PRO FORMA MINERAL RESOURCE & RESERVE SUMMARY BUNKER HILL MINERAL RESOURCE Tonnes Ag Zn Pb ZnEq AgEq Ag Zn Pb ZnEq AgEq CLASSIFICATION (Mt) (g/t) (%) (%) (%) (g/t) (Moz) (kt) (kt) (kt) (Moz) MEASURED 2.4 32 5.4 2.5 8.3 308 2.4 255 117 392 23.5 INDICATED 4.7 31 5.5 2.4 8.3 309 4.7 511 221 773 46.4 TOT
Slide 29: Brenda Dayton, Galen McNamara
Brenda Dayton Vice President, Investor Relations brenda.dayton@bunkerhillmining.com Galen McNamara CEO & Director info@silver47.ca
Bunker Hill Mining — Merger or Acquisition (August 2026) on 6ix