05:52 AM EDT, 10/29/2024 (MT Newswires) -- Bunker Hill Mining ( BHLL ) late on Monday said it has received non-binding interest from the Export-Import Bank of the United States for a debt funding package of up to $150 million with a loan term of up to 15 years.

The funding will allow Bunker Hill to expedite the development of its Bunker 2.0 expansion project. The company plans to restart operations at 1,800 tonnes per day in the first half of 2025.

Bunker Hill will conduct extensive drilling from the underground and surface of previously identified exploration targets. Detailed engineering studies are designed to support a ramp-up to 2,500 tonnes per day operations. The company plans to issue an updated resource and reserve report in the first quarter of 2025, followed by further exploration conducted underground and at the surface.

"We are thrilled to announce this first step in a potential partnership with EXIM to rapidly expand Bunker Hill's contribution to US domestic production of critical zinc and silver," said Bunker Hill President and CEO Sam Ash.

The company expects to submit a formal application to the Export-Import Bank by the end of 2024.