Bunker Hill Mining and Silver47 Exploration Complete Merger to Form Bunker Hill Silver Corp

Bunker Hill Mining Corp. (TSX: BNKR) and Silver47 Exploration Corp. (TSXV: AGA) completed their merger on November 6, 2026, creating a combined U.S.-focused silver and critical minerals producer. The deal was structured as a court-approved plan of arrangement under British Columbia's Business Corporations Act, with Bunker Hill acquiring all outstanding Silver47 shares. The combined company will be renamed Bunker Hill Silver Corp. and will continue trading on the Toronto Stock Exchange.

Under the terms of the arrangement, Silver47 shareholders received 0.1724 Bunker Hill shares for each Silver47 share held, implying consideration of approximately US$0.67 (C$0.93) per Silver47 share based on Bunker Hill's closing price on August 20, 2026, when the definitive agreement was signed. Upon completion, existing Bunker Hill shareholders hold roughly 57% of the combined company, with Silver47 shareholders owning the remaining 43%.

Bunker Hill shareholders had voted to approve the transaction at a special meeting held October 28, 2026, in Kellogg, Idaho. The company separately announced around that time that it had drawn down the remaining amounts available under its concentrate prepayment facility with Ocean Partners UK Ltd. and a standby facility provided by Teck Resources Limited, generating aggregate proceeds of US$20 million to support a ramp-up to commercial production targeted for the end of the fourth quarter of 2026. The combined entity is positioned as a domestically focused silver producer, branding itself as a "Made in America" U.S. silver and critical minerals champion.