Bunker Hill granted full operatorship rights for mine

Mar 9, 2018

2018-03-07 08:32 ET – News Release

Mr. Bruce Reid reports

EPA SIGNS AGREEMENT WITH BUNKER HILL MINING CORP. WHICH PROVIDES FULL RIGHTS OF OPERATORSHIP OF THE BUNKER HILL ZINC, LEAD, SILVER MINE

The United States Environmental Protection Agency (EPA) and the United States Department of Justice have signed an agreement with Bunker Hill Mining Corp., allowing the company or any subsidiary entities to operate the Bunker Hill zinc, lead and silver mine without incurring liability for hazardous substances, pollutants or contaminants that migrated from the mine in the past.

Specifically, Bunker Hill’s agreement with the United States, titled “settlement agreement and order on consent for response action,” in part, provides for the following.

Major obligations of Bunker Hill

Payment to the EPA over a seven-year period totalling $20-million (U.S.) for as long as Bunker Hill leases, owns and/or operates the mine (payments are on behalf of the current owner/lessor for the EPA’s prior response costs as contemplated by the lease/option on the mine);
Semi-annual payments to the EPA of $480,000 (U.S.) for continuing water treatment costs incurred at the EPA’s central treatment plant;
Specified continuing maintenance work on mine infrastructure to allow for proper management of mine effluent.

Major obligations of the United States

The United States covenants not to sue Bunker Hill for prior contamination migrating from the mine.
The EPA agrees not to enforce any lien it may have on the mine so long as Bunker Hill is in compliance with its payment and maintenance work obligations.
The EPA agrees to release any lien it may have on the mine upon the completion of Bunker Hill’s maintenance work and payment obligations.

The settlement agreement is subject to a 14-day public comment period, after which it will become effective.

Stated Bruce Reid, president and chief executive officer of Bunker Hill: “This agreement with the United States EPA and Department of Justice provides Bunker Hill or a subsidiary with the ability to operate the Bunker Hill mine. We can now accelerate the work required to reopen 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.”

About Bunker Hill Mining Corp.

Bunker Hill Mining has an option to acquire 100 per cent of the Bunker Hill mine. The Bunker Hill mine was the largest producing mine in the Coeur d’Alene zinc, lead and silver mining district in northern Idaho. Historically, the mine produced over 35 million tons of ore grading on average 8.76 per cent lead, 3.67 per cent zinc and 155 grams per tonne silver (Bunker Hill Mines annual report 1980).

We seek Safe Harbor.

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