Great Bear Doubles Vertical Extent of LP Fault, Intersects High-Grade Gold at
942.20 m Downhole: 15.57 g/t Gold Over 3.05 m

March 29, 2021 – Vancouver, British Columbia,
Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Expansion of the LP
Fault

• Deep drilling has doubled the
  drill-confirmed vertical extent of the LP Fault gold zone, which begins at bedrock surface, to approximately 800 vertical metres.  The area of ongoing grid drilling extends along 4 kilometres of strike length.  Figure 1 and Figure 2.
• Three new 400 – 450 metre step-down holes drilled along 500
  metres of strike length all successfully intersected the continuation
  of the LP Fault host rocks and gold mineralization at depths of 700 – 820
  vertical metres.
• Gold grades and mineralized
  zone thickness were better at depth on two of three tested drill sections.
• Initial deep drilling tested below the most weakly
  mineralized segment of the LP Fault, formerly referred to as the “Gap” zone (February 13, 2020).
• Large scale step-out drilling at depth,
  including below areas
  of high-grade gold mineralization, will continue throughout 2021.

High-Grade Gold in the First Deep LP Fault
Drill Holes

• High-grade gold was intersected at depth in two of the three deep drill holes, with better grades and thickness than previously observed in the near surface.  All three deep drill holes contained multiple intervals of gold mineralization.  Table 1 and Table 2.
• BR-260 is the deepest LP Fault drill hole to date.  It assayed 15.57
  g/t gold over 3.05 metres from 942.20 to 945.25 metres, within a broader interval of 1.08
  g/t gold over 70.25 metres from 906.15 to 976.40 metres.  Figure
  3 and Figure
  4.
• While high-grade intervals are the primary drill targets at these depths, the dual high-grade and bulk-tonnage character of the
  LP Fault gold zone remains strongly developed at depth.
• Oriented core data collected from these initial deep holes will assist with determining controls to higher grade panels within the broad envelope of gold mineralization. 

Great Bear has now published results from 270 LP Fault drill holes and anticipates at least
130 additional LP Fault drill holes will be completed by the end of 2021, for a total of at
least 400 drill holes.

Chris Taylor, President and CEO of Great Bear said, “We drilled below the most weakly mineralized segment of the LP Fault with our first deep holes, and discovered better gold mineralization at depth.  After 270 drill holes we have yet to find the limits of the LP Fault’s gold mineralization.  Mesothermal gold systems of this type, particularly in the Red Lake area, can extend vertically over kilometres.  We are currently working with in-house and external modelers to finalize 2021 drill plans, and will provide guidance over the coming weeks on expected timing of delivery of initial estimates of mineral resources.”

Figure 1 (Top): Long section of the LP Fault zone showing the locations and depths of the new deep drill holes (labeled).
Figure 2 (Bottom) : Map of current drill results showing the location of the new deep drill holes.

Table 1: Drill holes released to date on section 21450 showing increased gold mineralization grades and widths with increasing depth in the former “Gap” zone.  See news releases of April 9, 2020 and May 4, 2020 for previously reported drill holes.
New results
from BR-260 in italics.

* Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.  Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts.  Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade. 

Table 2: New drill results from the first three deep holes into the LP Fault system along 500 metres of strike length in the “Gap” area.

* Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.  Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher grade gold intercepts.  Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade. 

Figure 3: Section 21450 showing BR-260, the deepest drill hole in the LP Fault to date.  This section is located in what was formerly referred to as the “Gap” zone.

Figure 4:  The deepest drill hole in the LP Fault to date.  73.10 g/t gold over 0.60 metres at 942.20 metres down hole in BR-260 (790 metres vertical depth).  The shear-zone hosted disseminated high-grade gold with sparse accessory sulphides within a felsic volcanic host matches mineralization at shallower depths within the LP Fault.  Image is of a selected interval and is not representative of all gold mineralization on the property.

Great Bear’s progress can be followed using the Company’s plan maps, long sections and cross sections, and through the VRIFY model posted at the Company’s web site at www.greatbearresources.ca, which will next be updated in Q2 2021.  All LP Fault drill hole highlighted assays, plus drill collar locations and orientations can also be downloaded at the Company’s web site.

Drill collar location, azimuth and dip for drill holes included in this release are provided in the table below (UTM zone 15N, NAD 83):

About the Dixie Project

The Dixie Project is 100% owned, comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible year-round via a 15 minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.

The Dixie Project hosts two principal styles of gold mineralization:

• High-grade gold in quartz veins
  and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). Hosted by mafic volcanic rocks and localized near regional-scale D2 fold axes.  These mineralization styles are also typical of the significant mined deposits of the Red Lake district.

• High-grade disseminated gold
  with broad moderate to lower grade envelopes (LP Fault).  The LP Fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property.  High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals.  The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.

About Great Bear

Great Bear Resources Ltd.
is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.  Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 330 km2 of highly prospective tenure across 5 projects: the flagship Dixie Project (100% owned), the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), the Sobel Property (earning a 100% interest), and the Red Lake North Property (earning a 100% interest) all of which are accessible year-round through existing roads.

QA/QC and Core Sampling
Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein. 

Qualified Person and NI
43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Mr. Knox Henderson
Tel: 604-646-8354
Direct: 604-551-2360
info@greatbearresources.ca
www.greatbearresources.ca

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and
certain “forward-looking information” as defined under applicable Canadian and
U.S. securities laws. Forward-looking statements and information can generally
be identified by the use of forward-looking terminology such as “may”, “will”,
“should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”,
“plans” or similar terminology. The forward-looking information contained
herein is provided for the purpose of assisting readers in understanding
management’s current expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other purposes.

Forward-looking statements and information include, but are not
limited to, statements in respect of the proposed Offering including the
proposed use of proceeds, the closing date of the Offering, receipt of
regulatory and stock exchange approvals, the timing of future drilling,
exploration and budgets.

Forward-looking information are based on management of the
parties’ reasonable assumptions, estimates, expectations, analyses and
opinions, which are based on such management’s experience and perception of trends,
current conditions and expected developments, and other factors that management
believes are relevant and reasonable in the circumstances, but which may prove
to be incorrect.

Such factors, among other things, include: impacts arising from
the global disruption caused by the Covid-19 coronavirus outbreak, business
integration risks; fluctuations in general macroeconomic conditions;
fluctuations in securities markets; fluctuations in spot and forward prices of
gold or certain other commodities; change in national and local government,
legislation, taxation, controls, regulations and political or economic
developments; risks and hazards associated with the business of mineral
exploration, development and mining (including environmental hazards, industrial
accidents, unusual or unexpected formations pressures, cave-ins and flooding);
discrepancies between actual and estimated metallurgical recoveries; inability
to obtain adequate insurance to cover risks and hazards; the presence of laws
and regulations that may impose restrictions on mining; employee relations;
relationships with and claims by local communities and indigenous populations;
availability of increasing costs associated with mining inputs and labour; the
speculative nature of mineral exploration and development (including the risks
of obtaining necessary licenses, permits and approvals from government
authorities); and title to properties.

Great Bear undertakes
no obligation to update forward-looking information except as required by
applicable law. Such forward-looking information represents management’s best
judgment based on information currently available. No forward-looking statement
can be guaranteed and actual future results may vary materially. Accordingly,
readers are advised not to place undue reliance on forward-looking statements
or information

Supply and Demand Fundamentals for Platinum and Palladium

What are Platinum Group Metals?

Platinum group metals include platinum, palladium, rhodium, ruthenium, osmium, and iridium. Efforts to reduce carbon-dioxide emissions are boosting demand for platinum group metals, including palladium and platinum, for use in autocatalysts. In 2020, platinum and palladium futures prices rose 11.1% and 28.4% to finish the year at $1,079.50 and $2,455.50 per ounce, respectively. Year-to-date through March 26, 2021, platinum futures prices increased 10.3% to $1,191.10 per ounce, while palladium futures prices increased 9.1% to $2,680.00 per ounce. Notably, palladium is experiencing a multi-year supply deficit. Palladium is mined primarily in Russia and South Africa and mostly extracted as a by-product from mining other metals, including platinum and nickel. Platinum’s share of the autocatalyst market has fallen over the last fifteen years due to the adoption of palladium-rhodium catalysts in most cars that use gasoline and a move away from diesel automobiles that use platinum. However, given the price differential, some switching may occur, although car manufacturers seem more focused on advancing electric vehicles than making changes to a catalytic converter’s cost. Most realize that such a switch is just likely to result in higher platinum prices, and the burdens of making the change may not be worth the cost savings.

Supply and Demand Fundamentals

Johnson Matthey, a global leader in sustainable technologies and the largest fabricator and recycler of platinum group metals, publishes a monthly supply and demand outlook for platinum group metals. The company recently formed a strategic partnership with Sibanye-Stillwater, a leading precious metals mining company, to identify and develop solutions to propel decarbonization and the more efficient use of critical metals such as platinum group metals and metals used in battery technology. The partnership is expected to support the development of technologies for new products and markets to underpin sustainable supply chains for a low carbon future, including hydrogen production and fuel cells.

Johnson Matthey expects supply and demand for platinum group metals to recover towards pre-pandemic levels during 2021, assuming COVID-19 disruption eases. With respect to demand, automotive platinum group metals demand is expected to increase 13%, reflecting a strong recovery in light vehicle production and the implementation of China VI legislation enforcing the use of platinum group metal catalysts on heavy-duty diesel trucks. Furthermore, industrial demand is expected to remain strong, with chemical manufacturers expected to reach record levels. Johnson Matthey expects the palladium and rhodium markets to remain in deficit, while the market balance for platinum may hinge on jewelry and investment demand. Additionally, platinum’s discount to gold may spur greater demand, along with greater use in gasoline autocatalysts and fuel cells.

The table below illustrates the supply and demand for platinum and palladium for the years 2018 through 2020.

What is evident from the table is that both metals are in supply deficit and that demand for palladium as a material for autocatalysts materially exceeds total supply. End-use markets are still largely dependent on supplies from South Africa and Russia for supplies, although for manufacturers of emissions control equipment, palladium supplies are more readily available from North American sources than platinum. Given the expected growth in demand and the long lead time for bringing new supply to the market, prices could remain strong for the foreseeable future.

Electric Vehicles Represent a Threat?

The evolution to carbon-free vehicles will likely take some time and investors should expect twists and turns when it comes to predicting the winning technology. For now, it seems that internal combustion engine vehicles may be with us for a while, along with hybrid vehicles, and both use palladium and platinum. Battery technology is making rapid advances, although the materials used in those batteries are likely to continue to evolve. What does seem likely is that due to the expected growth in demand for platinum group metals juxtaposed against limited sources of supply, pricing appears durable for the foreseeable future.

While metals associated with batteries for electric vehicles do not include palladium or platinum, demand for platinum could benefit from advancements in fuel cell technology. An interesting article in the Wall Street Journal raised the question of whether hydrogen fuel cells could become more mainstream as a low carbon power source for vehicles. Hydrogen fuel cell technology uses platinum, given its ability to withstand higher temperatures than other metals. According to the article, a fuel cell needs platinum for the catalyst that separates hydrogen into protons and electrons, which then generate the electrical current, making it an alternative to battery-powered vehicles. Of course, much like materials used for batteries, fuel cell companies will seek to hit on a combination of materials that optimize performance and lower cost, which may result in efforts to either reduce or eliminate the use of platinum in favor of lower-cost or more widely available materials. 

Take-Away

The supply and demand fundamentals for platinum group elements remain quite attractive. Large and high-grade deposits are becoming more difficult to find, particularly in favorable mining jurisdictions. As a result, new sources of palladium supply are needed to meet demand and help achieve stricter air quality standards.  Thinking more broadly, the long-term outlook for platinum group metals, along with battery metals such as cobalt, copper, lithium, and nickel demand remains favorable due to increasingly more stringent emissions standards and expected usage associated with the move toward electrification and clean energy technologies, including electric vehicles, solar power, and fuel cells.

More to Discover on Channelchek:

Interview with Palladium One Mining CEO Derrick Weyrauch	How Does Uranium Fit Into the ESG Energy Landscape?

Digging Deeper Into Gold Investments – Understanding Royalty Companies	Can Mining be Green and Sustainable?

Sources:

Johnson
Matthey and Sibanye-Stillwater form a Strategic Partnership to Secure Critical
Metals and Accelerate New Technologies for a Low Carbon Future, Press Release, Johnson Matthey, March 19, 2021.

Pgm
Market Report, Johnson Matthey, Alison Cowley et al., February 2021

Fuel
Cell Technology Lets Platinum Miners Shine Again, The Wall Street Journal, Alexandra Wexler, March 25, 2021.

For
Hydrogen Fuel Cells, Mundane Materials Might be Almost as Good as Pricey
Platinum, Princeton University, Office of Engineering Communications, Jen A. Miller, June 17, 2019.

New
Catalyst Resolves Hydrogen Fuel Cell Cost, Longevity Issues, The Source, Washington University in St. Louis, December 3, 2020.

Stay up to date. Follow us:

Stay up to date. Follow us:

Bunker Hill Announces 3.8 Meters at 997 Ag Eq g/t Drill Intercept, Ten Channel Samples Above 900 Ag Eq g/t Including 0.6 Meters at 3,003 Ag Eq

Bunker Hill Announces 3.8 Meters at 997 Ag Eq g/t Drill Intercept, Ten Channel Samples Above 900 Ag Eq g/t Including 0.6 Meters at 3,003 Ag Eq

Bunker Hill to Host a Webinar on Wednesday, March 31 @ 8:00am PT/11:00am ET

HIGHLIGHTS:

• Ten
  separate high-grade silver mineralization results greater than 900 g/t
  AgEq ¹ , each with minimum 0.6m length, identified through targeted
  chip-channel sampling in newly accessible part of 9-level Deadwood vein
• Best
  selected chip sample includes 0.6m at 1,100 g/t Ag and 60% Pb,
  representing 3,002.6 g/t AgEq ¹
• Mineralization
  remains open up dip, down dip and along strike from the sampling location
  
• Follow-up
  diamond drilling is planned to test the extent of the Deadwood vein and
  nearby Jersey vein
• High-grade
  silver, lead and zinc mineralization, including 3.8m at 197 g/t Ag, 21.2%
  Pb and 2.7% Zn, representing 996.6 g/t AgEq ¹ , intersected at
  down-dip extension of the UTZ zone at the 5-level
• Executive
  Chairman Richard Williams, CEO Sam Ash, and CFO David Wiens to host live
  interactive 6ix virtual investor event on Wednesday, March 31st at 11:00AM
  ET / 8:00AM PT to discuss these results, ongoing silver exploration and
  other near-term catalysts. Investors are invited to register for this
  event at: LINK

TORONTO, March 29, 2021 (GLOBE NEWSWIRE) — Bunker Hill Mining Corp. (CSE: BNKR) (“Bunker Hill” or the “Company”) is pleased to report multiple high-grade silver mineralization results as part of its ongoing silver-focused drilling program, and through chip-channel sampling of newly accessible areas of the Bunker Hill Mine identified through the Company’s proprietary 3D digitization program.

Sam Ash, CEO of Bunker Hill, stated: “Having completed the drilling campaign designed to support the mine restart plan and associated PEA, we have now shifted our drilling and sampling focus to high-grade silver exploration in order to bring more silver into our upper mine resources and future mine planning.

Today’s results confirm high grade silver mineralization in two distinct areas of the upper mine close to existing infrastructure. Firstly, we have confirmed the silver potential of the Deadwood vein through ten separate high-grade channel samples. Secondly, our systematic targeting methodology allowed us to confirm the presence of high-grade silver mineralization on the 5-level through drilling, within an area where no historical mining was conducted. Both of these areas, along with others, will be followed up and developed over the coming weeks.”

Channel Sampling at the
9-Level Results in Ten Separate High-Grade Silver Mineralization Results

As a result of the digitization of the historic mine data and underground reconnaissance, an area was identified on the 9-level with access to the Deadwood vein: a shallow dipping galena-quartz (“GQ”) silver-lead vein that was mined until mine closure. The vein is exposed in the footwall rib of an historic stope over roughly 35 feet horizontally, with the thickness of mineralized exposure ranging from roughly 1 to 2 meters. Chip samples were collected from 10 vertical channels on the footwall rib designed to approximately crosscut the strike of the vein. See Figure 1 showing the sample distribution and resulting grades.

Digitization and reconnaissance efforts indicate that silver-lead mineralization from the Deadwood vein remains open to testing up-dip, down dip and along strike to the west. Follow up diamond drilling is planned to test the extent of the Deadwood vein and nearby Jersey vein, another historically mined GQ silver-lead vein on the 9 Level of the mine.

______________________________
¹ Prices used to calculate Ag Eq are as follows: Zn=$1.16/lb; Pb=$0.92/lb; and Ag=$20/oz.

Figure 1: 090-23-21 Deadwood
Vein Stope – Floor 4 Footwall Rib Channel Samples
https://www.globenewswire.com/NewsRoom/AttachmentNg/6e30b1cd-59c5-4713-95c4-84a9328e8c8a

Channel sample assays results are presented in the Table 1 below.

TABLE 1: CHANNEL SAMPLE ASSAYS

(Reported widths are actual
sampled interval lengths and do not state the true width of the mineralized
structure. Samples were taken in a manner to reflect, as closely as possible,
true structural width. Prices used to calculate AgEq are as follows: Zn=$1.16/lb;
Pb=$0.92/lb; and Ag=$20/oz.)

Drilling at the 5-Level
Results in Nearly 4-Meter Intercept at Approximately 1,000 g/t AgEq

Concurrently, drilling from the 5-level UTZ intersected high-grade silver-lead-zinc mineralization below the UTZ fingers zone, as part of exploring for near-surface silver targets. The Company is excited to report a 3.8m intercept with a grade of 996.6 g/t AgEq, as indicated in Table 2 below. Intercepted mineralization in hole 7069 (see Figure 2 below showing cross-section and Figure 3 below showing drill core) lies near existing rehabilitated infrastructure, providing low-cost access to the zone for mining under Bunker Hill’s Phase 1 program of the Rapid Restart Plan. Follow up drilling will explore the extent of the mineralization and increase the understanding of the geology in the area.

The drill results in the table below represent the most recent assay data available since the Company’s news release dated February 26, 2021; the Company will continue to report mineralized drill intercepts concurrent with its ongoing exploration program that is currently envisaged to comprise 10,000 to 12,000 feet in 2021.

TABLE 2: HIGH-GRADE SILVER
INTERCEPT FROM HOLE 7069

(Reported widths are
intercepted ore lengths and not true widths, as relationships with intercepted
structures and contacts vary. Prices used to calculate AgEq are as follows:
Zn=$1.16/lb, Pb=$0.92/lb, Ag=$20/oz.)

Figure 2: Cross section of
hole 7069
https://www.globenewswire.com/NewsRoom/AttachmentNg/11b3bb0c-606c-478d-ab42-22e391a9ecb8

Figure 3: Drill Core from
hole 7069
https://www.globenewswire.com/NewsRoom/AttachmentNg/057e8c21-a292-4690-aef4-4209f48e9b08

The preliminary economic assessment (“PEA”), aimed at assessing the mine’s rapid restart potential, remains on track to be published in early Q2 2021.

WEBINAR

Bunker Hill will host a
webinar to discuss the Company’s recent results and future exploration plans.
The webinar will take place on Wednesday, March 31 at 8:00 am PT/11:00am
EST. Management will be available to answer questions following the
presentation.

To join the webinar,
register from this link (also includes dial-in instructions):
Link: UPCOMING EVENTS

Adelaide Capital Idaho Conference
April 8, 2021 @ 12:00pm ET – 4:00pm ET
Join Us: REGISTER NOW

World Gold Forum
April 13-15, 2021
https://www.worldgoldforum.com/

HC Wainwright Mining Conference

April 19-20, 2021
Join Us: REGISTER NOW

121 Mining Investment Americas
April 27-29, 2021
https://www.weare121.com/121mininginvestment-new-york/

TECHNICAL INFORMATION

Chip-channel samples were collected by hand using hammer and chisel perpendicularly across exposed mineralized structures to best represent the true width and nature of the material present. Sample collar locations were surveyed using modern survey techniques to provide positioning of each sample in three-dimensional space. Bunker Hill followed standard quality assurance/quality control (“QA/QC”) practices to ensure the integrity of samples through collection, preparation and delivery of samples to the lab. All sample locations have been photographed, with channel traces spray painted to indicate the location and orientation of each sample. Standards of certified reference materials, field duplicates and blanks were inserted as samples shipped with the chip samples to the lab.

The diamond drilling program used HQ-size core. Bunker Hill followed standard QA/QC practices to ensure the integrity of the core and sample preparation through delivery of the samples to the assay lab. The drill core was stored in a secure facility, photographed, logged, split into halves and sampled based on lithologic and mineralogical interpretations. Standards of certified reference materials, field duplicates and blanks were inserted as samples shipped with the core samples to the lab.

American Analytical Services (“AAS”) was used to provide analytical services and all results comply with both National Instrument 43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”) and industry standards. AAS holds an industry standard ISO 17025:2005 accreditation, specifying general requirements for laboratory performance. AAS is independent from Bunker Hill.

QUALIFIED PERSON

Mr. Scott E. Wilson, CPG, President of Resource Development Associates Inc. and a consultant to the Company, is an independent qualified person as defined by NI 43-101 and is acting as the qualified person for the Company. He has reviewed and approved the technical information summarized in this news release.

ABOUT BUNKER HILL MINING CORP.

Under new Idaho-based leadership, Bunker Hill Mining Corp. intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver. Information about the Company is available on its website, www.bunkerhillmining.com, or under the Company’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

For additional information contact:

Sam Ash, President and Chief Executive Officer
+1 208 786 6999
sa@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 terminology such as “may”,
“will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”,
“estimate”, “projects”, “predict”, “potential”, “continue” or other similar
expressions concerning matters that are not historical facts.

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. The key risks and uncertainties
include, but are not limited to: local and global political and economic
conditions; governmental and regulatory requirements and actions by
governmental authorities, including changes in government policy, government
ownership requirements, changes in environmental, tax and other laws or
regulations and the interpretation thereof; developments with respect to the
coronavirus disease 2019 (“COVID-19”) pandemic, including the duration,
severity and scope of the pandemic and potential impacts on mining operations;
and other risk factors detailed from time to time in the Company’s reports
filed on SEDAR and EDGAR.

Forward-looking information
and statements in this news release include statements concerning, among other things:
the Company’s intention to conduct follow up drilling to test the extent of the
Deadwood vein and nearby Jersey vein; the Company’s intention to conduct follow
up drilling from the 5-level of the mine to explore the extent of the
mineralization and increase the understanding of the geology in the area; the
timing for publishing the PEA aimed at assessing the mine’s rapid restart
potential; 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: 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 labor
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 and EDGAR. 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.

Source: Bunker Hill Mining