Bunker Hill Mining Corp · TSX:BNKR
Bunker Hill Mining — Investor Presentation (May 2023)
23 slides from Bunker Hill Mining's investor presentation, May 25, 2023
Slide 1: Value Creation Through Regeneration
BNKR:CN BNKR:CN BHLL: OTCQB A2PK9X:WKN VALUE CREATION THROUGH REGENERATION MAY 25, 20231
Slide 2: Cautionary Notes
BNKR:CN CAUTIONARY NOTES Reader Advisory - General Prospective investors should rely only on the information contained in final prospectus dated February 13, 2023 (the “prospectus") of Bunker Hill Mining Corp. (the "Company" or "Bunker Hill") including the documents incorporated therein by reference
Slide 3: Cautionary Notes (Continued)
BNKR:CN CAUTIONARY NOTES (CONTINUED) “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Slide 4: Value Creation Through Regeneration
BNKR:CN VALUE CREATION THROUGH REGENERATION Bunker Hill: Cornerstone asset of a multi-asset North American portfolio STRONG TEAM OF EX-BARRICK EXECUTIVES TOP MINING JURISIDICTION SHAREHOLDER BASE Sprott Retail 9% 32% Teck Coeur d’Alene 8% Bunker Hill Mine Merk Richard Williams Sam Ash David Wiens Br
Slide 5: 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 6: The Bunker Hill Mine: A Brief History
BNKR:CN THE BUNKER HILL MINE: A BRIEF HISTORY 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 1981, • Op
Slide 7: Cornerstone Asset in Top Mining Jurisdiction
BNKR:CN CORNERSTONE ASSET IN TOP MINING JURISDICTION Large scale mineral endowment, extensive infrastructure, strong mining jurisdiction (Idaho) • 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) (%) (%) (klbs) (koz)
Slide 8: 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 9: Phase 1 Prefeasibility Restart Plan
BNKR:CN PHASE 1 PREFEASIBILITY RESTART PLAN Key metrics $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 Avg Exploration LOM Annual Upside Further Optimization Free Cash Flow Pot
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 De-risks project execution Photo 5: Balls mills, flotation • Pend Oreille mill onsite in cells and lime silo unloaded in BH secure storage yard • Mill site prepared for civil work to begin • Long lead procurement underway (PEMB, Bunker Hill
Slide 14: Proven Executive and Operations Team
BNKR:CN PROVEN EXECUTIVE AND OPERATIONS TEAM Highly skilled and motivated team, supported by partners and enthusiastic local community SENIOR MANAGEMENT TEAM KEY PARTNERS • CMC (Mine Contractor): Highly respected Silver Valley miners • Recently completed underground decline to 6-Level • Hoffman Manu
Slide 15: 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: $39M >200 Further optimization Mine life extension NPV (8%) (post-tax) ($M) Exploration Metal prices: >$1.25/lb Zn >$0.95/lb
Slide 16: Sprott Partnership Expanded +$67M to $96M
BNKR:CN SPROTT PARTNERSHIP EXPANDED +$67M TO $96M $34m advanced to date; $46 million in June 2023; $21 million available thereafter Royalty Series 1 Series 2 Bridge Loan Multi Debt Convertible Convertible Convertible Metals Facility Debenture Debenture Debenture Stream Amount $8M $6M $15M $5M* $46M*
Slide 17: 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 18: 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 19: 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 20: 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 21: 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 21
Slide 22: Objectives Achieved - Rapid Restart Now in Sight
BNKR:CN OBJECTIVES ACHIEVED - RAPID RESTART NOW IN SIGHT Focus on execution to continue value creation for shareholders RESULTS DELIVERED CATALYSTS ✓ Revamped Board and management • Closing and funding of $46M Stream ✓ Delineated NI 43-101 Resource Estimate • TSX-V listing application ✓ Two PEA’s +
Slide 23: Bunker Hill Mining Corp.
BNKR:CN BUNKER HILL MINING CORP. 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 23
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