Bunker Announces Further Extension on Lease with Placer Mining Corporation
12 Agosto 2020 - 4:00PM
Bunker Hill Mining Corporation (the
“
Company”) (CSE: BNKR) is pleased to
announce that it has secured for USD 150,000 cash payment a further
extension to the lease with the option to purchase the Bunker Hill
Mine complex from the land-owner, Placer Mining Corporation. The
extension is for a further 18 months and is in addition to the
6-month extension previously announced. This extension expires on
August 1, 2022.
This extension provides the Company with more
time to invest the proceeds of the on-going financing in ways that
compile and digitize fully over 95 years of historical and
geological data, verify the historical reserves, and explore the
high-grade silver targets within the mine complex.
Dave Kriedeman, the President of Placer Mining
Corporation, comments that: "over the last 6 months there has been
more activity on the ground at Bunker Hill than in the last 20
years. The Placer Mining Corporation is very excited to be
partnered with Sam Ash and his new Bunker Hill team who we feel
will successfully highlight the remarkable untapped value in this
mine as the first step in bringing it back into production.”
On August 10, 2020, the Company announced an
increase in the size of its previously announced brokered best
efforts equity private placement to approximately
C$20,400,000. The offering led by a syndicate of agents (the
“Agents”) is a best efforts brokered private placement of up to
58,285,714 units of the Company (“Units”) at C$0.35 per Unit (the
“Offering”). Each Unit will consist of one common share of
the Company (a “Common Share”) and one Common Share purchase
warrant (a “Warrant”). Each Warrant entitles the holder to acquire
one Common Share at a price of C$0.50 per Common Share for a period
of three years. The first tranche of the Offering is
expected to close on or about August 14, 2020 and will be subject
to receipt of all necessary regulatory approvals. The Units and
securities underlying them will be subject to a six month hold
period in accordance with applicable securities laws.
About Bunker Hill Mining
Corp.
Information about the Company is available on
its website, www.bunkerhillmining.com, or within the SEDAR and
EDGAR databases.
For additional information contact:
Sam Ash, President and Chief Executive Officer+1
208 786 6999sa@bunkerhillmining.com
Cautionary Statements
Certain statements in this news release 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 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, as
well as within the meaning of the phrase ‘forward-looking
information’ in the Canadian Securities Administrators’ National
Instrument 51-102 – Continuous Disclosure Obligations.
Forward-looking statements are not comprised of historical facts.
Forward-looking statements include estimates and statements that
describe the Company’s future plans, objectives or goals, including
words to the effect that the Company or management expects a stated
condition or result to occur. Forward-looking statements may be
identified by such terms as “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. Although these statements are
based on information currently available to the Company, the
Company provides no assurance that actual results will meet
management’s expectations. Risks, uncertainties and other factors
involved with forward-looking information could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Forward looking information in this news release
includes, but is not limited to, the anticipated size of the
Offering, the Offering price, the anticipated closing date and the
completion of the Offering, the anticipated use of the net proceeds
from the Offering, the receipt of all necessary approvals, and the
Company’s intentions regarding its objectives, goals or future
plans and statements. Factors that could cause actual results to
differ materially from such forward-looking information include,
but are not limited to: an inability to complete the Offering on
the terms or on the timeline as announced or at all; the ability to
predict and counteract the effects of COVID-19 on the business of
the Company, including but not limited to the effects of COVID-19
on the price of commodities, capital market conditions, restriction
on labour and international travel and supply chains; failure
to identify mineral resources; failure to convert estimated mineral
resources to reserves; the inability to complete a feasibility
study which recommends a production decision; the preliminary
nature of metallurgical test results; delays in obtaining or
failures to obtain required governmental, environmental or other
project approvals; political risks; changes in equity markets;
uncertainties relating to the availability and costs of financing
needed in the future; the inability of the Company to budget and
manage its liquidity in light of the failure to obtain additional
financing, including the ability of the Company to complete the
payments pursuant to the terms of the agreement to acquire the
Bunker Hill Mine Complex; inflation; changes in exchange rates;
fluctuations in commodity prices; delays in the development of
projects; capital, operating and reclamation costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry; and those risks set
out in the Company’s public documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in preparing
the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law. No stock
exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
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