Ranger-Page Silver (Zn-Pb) Project
Located in Idaho's prolific Silver Valley, Silver Dollar acquired the Ranger-Page Project on August 7, 2024 (see news release) and announced an agreement to sell the Project to Bunker Hill Mining on October 27, 2025 (see news release) in an all-stock transaction. Under the terms of the agreement, Bunker Hill will acquire all of Silver Dollar's interest in the Ranger-Page Project and associated claims from Silver Dollar for total consideration of CAD$3.5 million, payable by the issuance of 23,333,334 Bunker Hill Common Shares at a deemed price of CAD$0.15 per share. The transaction closed on December 11, 2025 (see news release), and the value of the Bunker Hill shares at the time of closing was approximately $5.8 million.
Figure 1: Location of the Ranger-Page and Bunker Hill projects in the Coeur d'Alene Mining District.
Finalizing this transaction represents the successful execution of our strategic vision for Ranger-Page. The closing immediately establishes Silver Dollar as a significant and supportive shareholder in a near-term producer, providing our investors with direct, leveraged exposure to the restart of the Bunker Hill Mine that is on track for first production in H1 2026," said Greg Lytle, President and CEO of Silver Dollar. "We believe this transaction delivers an accelerated path to value creation for our shareholders compared to the independent development of Ranger-Page, and we look forward to the growth of Bunker Hill in the years ahead through production and exploration."
Figure 2: Cross-section showing the Bunker Hill - Ranger-Page underground workings and target area.
Strategic Highlights of the Transaction:
Consolidated Land Position: The acquisition unites the Ranger-Page and Bunker Hill properties into a contiguous land package, creating one of the largest and most prospective holdings by any single company in the Silver Valley.
Exploration Upside: Historical drilling and production data from the Ranger-Page indicate high-grade silver-lead-zinc mineralization along the Page vein system, which remains open at depth and along strike.
Infrastructure Synergies: The Ranger-Page Mines' existing underground workings and surface access points could provide additional flexibility for future mine planning, ventilation, and exploration access to deeper levels of the Bunker Hill system.
Complementary to Restart Plan: The acquisition is aligned with Bunker Hill's ongoing restart of operations at the Bunker Hill Mine, targeted for H1 2026, and enhances the Company's upside optionality for future resource expansion and mill feed sources.
Teck Resources Offtake Agreement: Teck owns approximately 32% of Bunker Hill, having invested approximately US$40 million in 2025 to secure a life-of-mine offtake agreement for 100% of Bunker Hill's zinc and lead concentrates, which will feed its Trail Smelter in southeastern British Columbia.
Photo 1: Looking NW from the Ranger-Page Project with I-90 and the town of Smelterville on the right.
Why Sell the Ranger-Page Project Now?
Figure 2: Bunker Hill shares potential for re-rating to Junior Silver Producer Peers in 2026.
Transaction Summary:
Under the terms of the asset purchase agreement with Bunker Hill, Silver Dollar received 23,333,334 common shares of Bunker Hill valued at approximately $5,800,000 based on the closing price of Bunker Hill's shares on the TSX Venture Exchange, December 11, 2015. The Bunker Hill common shares will be subject to a statutory six-month hold period and contractual escrow, and will be released in accordance with the following schedule:
| Release Date | Release Schedule from Contractual Escrow |
| 6-month anniversary of Closing Date | 2,333,333 Shares |
| 9-month anniversary of Closing Date | 2,333,333 Shares |
| 12-month anniversary of Closing Date | Balance of Shares (18,666,668 Shares) |
About the Ranger-Page Project
Located in a world-class silver district, the Ranger-Page land package covers six historic mines and adjoins the Bunker Hill Mining property. The primary target areas are up and down plunge from historic underground mining, along strike where ground-induced polarization (IP) surveys have identified anomalies, and where surface trenching has identified near-surface mineralization. Additional exploration targets have also been identified away from historic mine infrastructure, using soil geochemical data, mapping, and ground IP survey data.
About Bunker Hill Mining Corp.
Bunker Hill is an American mineral exploration and development company focused on revitalizing its historic mining asset: the renowned zinc, lead, and silver deposit in northern Idaho's prolific Coeur d'Alene mining district. This strategic initiative aims to breathe new life into a once-productive mine, leveraging modern exploration techniques and sustainable development practices to unlock the potential of this mineral-rich region. Bunker Hill Mining Corp. aims to maximize shareholder value by responsibly harnessing the mineral wealth in the Silver Valley mining district, focusing its efforts on this single, high-potential asset. Information about the Company is available on its website, www.bunkerhillmining.com.
Photo 2: Drill turning on the Crown Point Target during Silver Dollar's winter 2024-25 drill program.