Bunker Hill closes Silver47 merger; issues 36.3M shares at 0.1724 exchange ratio

Bunker Hill Mining Corp.

• Bunker Hill acquired all Silver47 shares via a British Columbia plan of arrangement, closing November 6, 2026; Silver47 became a wholly owned subsidiary.
• Each Silver47 share converted into 0.1724 Bunker Hill shares; about 36,325,517 consideration shares were issued, equal to roughly 43% of Bunker Hill shares outstanding after closing.
• Outstanding Silver47 options and warrants were exchanged for about 2,907,755 replacement options and 10,993,476 replacement warrants; the issuance relied on Section 3(a)(10).
• Board expanded from five to seven; Galen McNamara named President and Chief Investment Officer at C$420,000 per year; Sam Ash remains CEO and ceased serving as President.
• Gary Thompson resigned as director on November 10, 2026, not due to any dispute; authorized shares rose to 400,000,000 from 100,000,000 and the company was renamed Bunker Hill Silver Corp.