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Bunker Hill Mining Receives Approval for Reinstatement of Lease for Bunker Hill Mine, Washington

Published: November 28, 2018 |

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Bunker Hill Mining Corp. has reached an agreement providing for reinstatement of its lease on the Bunker Hill Mine. The lease has been reinstated and became effective again on November 6, 2018.

“We are very pleased to have worked out an agreement with the mine owner, Placer Mining Corp., to enable us to continue our effort to ultimately reopen the mine and make it a productive asset. I believe the discussions we have had over the last several weeks have unified our common goal to continue to advance the project toward production. We are excited to get going on our work plan for the upcoming months and to get items accomplished on budget and on time. We will be providing timely updates to the marketplace on our progress,” said John Ryan, Interim CEO.

Reinstatement of Lease Agreement

The company achieved a substantial reduction of its monthly lease payments spanning the next twelve months. In addition, if the company achieves certain agreed goals on its work program at the mine, the payment concessions can be extended an additional six months.

The monthly payments will be $60,000 per month for the next twelve months, a reduction of 70 percent from the previous amount of $200,000. It has been agreed that the reduction in payments will be made up for by adding the accumulated reduction to the purchase price of the mine should the company choose to exercise its purchase option.

The company is also in discussions with the United States Environmental Protection Agency (EPA) on concessions with respect to the company’s payment obligations owed to the EPA. In general, those discussions to date have been highly positive. The company intends to submit a written proposal to the EPA by the end of this week, and will report further progress on these discussions as they occur.


About Bunker Hill Mining Corp.
Bunker Hill Mining Corp. has an option to acquire 100 percent of the Bunker Hill Mine.

To stop by Bunker Hill Mining’s website, CLICK HERE


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