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Bunker Hill Mining (CSE:BNKR) Agreement signed with the United States Environmental Protection Agency

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Under the terms of the agreement, Bunker Hill Mining, and any of its subsidiaries, are authorized to operate the Bunker Hill Mine without incurring liability for hazardous substances, pollutants or contaminants that may previously have migrated from the Mine.

Additional Information:

Company: Bunker Hill Mining
Website: http://www.bunkerhillmining.com
Stock Symbol: CSE: BNKR
Date Published: Mar 7, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Bunker Hill Mining, which prior to November 29, 2017, traded as Liberty Silver on the Canadian Securities Exchange, has signed an agreement with the United States Environmental Protection Agency, and can move forward with the operation of the well-known Bunker Hill Mine.

Under the terms of the agreement, Bunker Hill Mining, and any of its subsidiaries, are authorized to operate the Bunker Hill Mine without incurring liability for hazardous substances, pollutants or contaminants that may previously have migrated from the Mine.

Bunker Hill Mining has an option to acquire 100% of the Bunker Hill Mine, the largest producing mine in the Coeur D’Alene zinc, lead and silver mining district in northern Idaho.

According to the 1980 Bunker Hill Mines Annual Report, the mine produced more than 35 million tons of ore grading on average 8.76% lead, 3.67% zinc, and 155 grams per tonne silver.

The property has significant Non NI 43-101 compliant proven and probable reserves from 1991.

Bruce Reid, President and CEO, stated: “We can now accelerate the work required to re-open the mine. We will work together with the EPA to operate the mine in a way that will provide economic benefits for the local community in an environmentally prudent fashion.”

Under the terms of the agreement, Bunker Hill is obligated to:
Pay the EPA a total of US$20 million over 7 years, as long as it owns and/or operates the mine
Pay the EPA US$480,000 semi-annually for ongoing water treatment costs
Perform specified ongoing maintenance work to allow for proper management of mine effluent

In return, the EPA undertakes the following:
Covenants not to sue Bunker Hill for prior contamination
Agrees not to enforce any lien on the mine as long as Bunker Hill is in compliance with its obligations
Agrees to release any lien upon completion of Bunker Hill’s obligations

The settlement agreement is subject to a 14 day public comment period.

The company is well financing, with $5.3 million cash on hand as at December 31, 2017.

The shares are trading at $2.20.

For more information, please visit the company’s website www.bunkerhillmining.com, contact Bruce Reid, President and CEO, at 647-500-4495 or email br@bunkerhillmining.com or contact Nicholas Konkin, Marketing and Communications, at 416-567-9087 or email nk@bunkerhillmining.com.

I’m Samantha Deutscher for Investmentpitch Media