Core Viewpoint - Bunker Hill Mining Corp. has made significant foundational progress in 2025, focusing on advancing the Bunker Hill Mine towards production and free cash generation, with a strong emphasis on safety and operational readiness as it prepares for a mine restart in 2026 [2][10]. Group 1: 2025 Year in Review - The company achieved zero Lost Time Injuries (LTIs) for the third consecutive year, maintaining 100% compliance with environmental permits [6]. - Key milestones included the optimization of the mine restart plan, increased silver content, and collaboration with VRIFY for enhanced mineral discovery [3][4][6]. - Metallurgical test work indicated expected recoveries of 89% for silver, 87% for lead, and 92% for zinc [6]. Group 2: Financial Strengthening - Bunker Hill completed a refinancing package that reduced outstanding debt by approximately 39% and lowered the effective cost of capital from 11.85% to 5% [9]. - The company secured incremental funding of US$68 million to finance remaining project milestones, enhancing liquidity and positioning for initial production [9]. Group 3: 2026 Outlook - The company is focused on production, positive cash generation, and resource expansion, with an emphasis on increasing the silver content in the mine plan [10]. - Processing plant construction is 88% complete, with phased commissioning starting in January 2026, aiming for a mine restart in the first half of 2026 [12]. - The tailings filter press construction is 56% complete, also on track for the expected mine restart [12]. Group 4: Market Environment - Metal prices for silver, zinc, and lead have strengthened significantly compared to previous assumptions, which could positively impact project economics [14][15]. - The company’s exposure to silver and base metals, along with its brownfield restart profile, provides leverage to favorable commodity markets [16].

Core Insights - Canterra Minerals Corporation has identified multiple large-scale, high-priority anomalies at its Buchans Project in Central Newfoundland through a deep-penetrating 3D Induced Polarization survey, indicating potential for significant mineral discoveries [1][4][5] Survey Results - The 3D IP survey defined five primary large-scale anomalies with geophysical signatures comparable to known mineralized zones, suggesting the presence of significant sulphide accumulations [5] - The survey successfully imaged the subsurface to depths of up to 800 meters, surpassing the limits of most historical exploration efforts [5] Drilling Program - Canterra has initiated Phase 3 of its fully funded 10,000-meter drill program, with 6,000 meters currently underway targeting the highest-priority IP anomalies [2][9] - New drill targets include Sandfill Deep, Clementine South, West Clementine, and Nu Area, each characterized by significant geophysical anomalies [10] Historical Context - The historic Buchans Mine was one of the world's highest-grade VMS deposits, producing 16.2 million tonnes at an average grade of 14.5% Zn, 7.6% Pb, 1.3% Cu, 1.37 g/t Au, and 126 g/t Ag [5] Project Overview - The Buchans Project spans 95 km² and includes both the past-producing Buchans Mine and the undeveloped Lundberg deposit, which is characterized by near-surface stockwork sulphide mineralization suitable for open-pit development [12]